Drug Eluting Stent Market to Grow with a CAGR of 8.13% through 2028
Increasing prevalence of
cardiovascular diseases and growing awareness and education are factors driving
the Global Drug Eluting Stent Market in the forecast period 2024-2028.
According to TechSci Research report, “Drug Eluting
Stent Market – Global Industry Size, Share, Trends, Competition Forecast
& Opportunities, 2028”, the Global Drug Eluting Stent Market stood at
USD 7.09 billion in 2022 and is anticipated to grow with a CAGR of 8.13% in the
forecast period, 2024-2028. The global drug-eluting stent (DES) market has
witnessed significant growth over the years, driven by a combination of factors
ranging from the rising prevalence of cardiovascular diseases to technological
advancements in medical devices. Drug-eluting stents are a crucial part of
interventional cardiology, offering a less invasive and effective treatment
option for patients with coronary artery disease.
One of the primary drivers of the global drug-eluting
stent market is the escalating prevalence of cardiovascular diseases (CVDs).
Conditions like coronary artery disease (CAD) have become increasingly common
worldwide due to factors such as sedentary lifestyles, unhealthy dietary
habits, and an aging population. Drug-eluting stents are widely used in the
treatment of CAD, making them an essential medical device in managing this
global health issue.
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Advancements in stent design and materials have
greatly contributed to the growth of the DES market. Manufacturers are
constantly innovating to develop stents with improved drug-elution
capabilities, biocompatibility, and reduced risk of complications. The
introduction of bioresorbable stents, which gradually dissolve in the body,
represents a significant breakthrough in this field, as it eliminates the need
for a permanent implant. Minimally
invasive procedures have gained popularity in the medical community and among
patients due to their numerous benefits, including reduced hospital stays,
quicker recovery times, and lower risk of infection. Drug-eluting stents are a
key component of percutaneous coronary interventions (PCI), a minimally
invasive approach to treat coronary artery disease. This trend has led to an
increased demand for DES, as patients and physicians prefer these less invasive
procedures.
Rising healthcare expenditure in both
developed and developing countries is a significant factor contributing to the
growth of the global drug-eluting stent market. Governments and private
healthcare providers are investing in advanced medical technologies, including
DES, to improve patient outcomes and reduce the economic burden of
cardiovascular diseases on healthcare systems.
Public awareness campaigns and
educational initiatives about cardiovascular diseases and their treatment
options have played a role in increasing the adoption of drug-eluting stents.
As people become more informed about the benefits of DES in comparison to
traditional treatments, there is a growing preference for this technology among
patients and healthcare professionals alike. The Global Drug Eluting Stent
Market is segmented into Coating Type, End Use and company.
Based on End Use , the Coronary
artery disease segment has emerged as the predominant market leader. Pharmaceutical and medical device companies have
invested significantly in research and development to produce newer and more
advanced drug-eluting stents. This competitive landscape fosters innovation and
the development of stents that are better suited for Coronary artery disease
treatment.
Based on region, North America segment is expected to
grow during the forecast period. Healthcare providers in North
America have access to extensive resources for medical education and training.
This helps ensure that healthcare professionals are well-informed about the
benefits of drug-eluting stents and are more likely to recommend them to
patients when appropriate.
The Asia Pacific region is experiencing rapid market
growth. Pharmaceutical and medical device companies in Asia Pacific invest
heavily in research and development to create new drug-eluting stent
technologies. These investments lead to product improvements and expanded
treatment options.
Major companies operating in
Global Drug Eluting Stent Market are:
- Abbott Laboratories ltd.
- Boston Scientific Corporation
- Terumo Corporation
- Medtronic plc
- Biosensors International Ltd
- Cook Medical pvt ltd.
- B. Braun Medical (India)
Private Limited
- Biotronik, Inc.
- Lepu Medical Technology Inc.
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“The global drug-eluting stent market is poised for
continued growth due to the convergence of several key drivers. The increasing
prevalence of cardiovascular diseases, technological innovations, the
popularity of minimally invasive procedures, the aging population, healthcare
spending, education, and reimbursement policies are all contributing to the
expansion of this vital medical device market. As these factors continue to
evolve, the market for drug-eluting stents is expected to advance, providing better
treatment options and improved outcomes for patients with coronary artery
disease and other cardiovascular conditions.,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based management consulting firm.
“Drug Eluting Stent Market By
Coating Type (Polymer-based Coatings
(Non-biodegradable, Biodegradable)), Polymer-free Coatings(Micro porous
Surface, Micro structured Surface, Slotted tubular Surface, Nanoporous Surface)),
By Application (Coronary Artery Disease, Peripheral Artery Disease), By Region, By Competition Forecast &
Opportunities, 2018-2028F”, has evaluated the future growth potential of Global
Drug Eluting Stent Market and provides statistics & information on market
size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Drug
Eluting Stent Market.
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