This report presents a comprehensive analysis of the Global Drug-Eluting Stents (DES) Market, including drivers, restraints, opportunities, trends, and forecasts for the period 2018-2024. Drug-eluting stents are metallic stents coated with drugs such as paclitaxel and everolimus, along with antiproliferative drugs, to expand narrowed blood vessels. The first-generation DES raised safety concerns due to a higher incidence of stent thrombosis, leading to the development of biodegradable DES for improved treatment outcomes. DES can release antiproliferative drugs, preventing neointimal proliferation and reducing the risk of stent restenosis, thereby prolonging patients’ lives.
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Market Analysis
The “Global Drug-Eluting Stents Market” is projected to experience a Compound Annual Growth Rate (CAGR) of 5.4% during the forecast period from 2018 to 2024. The market is analyzed based on four segments: coating type, applications, end-users, and regions.
Regional Analysis
The regions covered in this report include North America, Europe, Asia Pacific, and the Rest of the World (RoW). Europe holds the largest share in the drug-eluting stents market, followed by North America. Europe occupies more than 60% of the market, with Germany being a major contributor to its growth.
Coating Type Analysis
Based on the type of coating, the market is segmented into polymer-based coating and polymer-free coating drug-eluting stents. Polymer-based coatings are further categorized as non-biodegradable and biodegradable polymers. Polymer-free coatings include microporous surface, microstructured surface, slotted tubular surface, and nanoporous surface options.
Application Analysis
The market is segmented by applications into coronary artery disease and peripheral artery disease. Approximately 90% of all percutaneous interventional surgeries use coronary stents, with the majority of these procedures involving drug-eluting stents (DES). Consequently, coronary arterial intervention dominates the market.
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End-Users Analysis
Major end-users in the drug-eluting stents market include cardiology centers, ambulatory surgery centers (ASCs), and hospitals. Ambulatory surgery centers have become the preferred mode of treatment due to advantages such as the availability of surgical specialists, reduced hospital stays, and lower surgical costs. This segment is the largest among end-users.
Key Players
Key players in the market include Abbott Laboratories, Boston Scientific Corporation, Medtronic PLC, Johnson and Johnson, MicroPort Scientific Corporation, Biotronik Inc, Terumo Corporation, Biosensors International Group, Meril Life Science, Stentys SA, Cook Medical Inc., and Lepu Medical Technology, among others. Many manufacturers are outsourcing research to clinical research organizations, indirectly contributing to the growth of the drug-eluting stents market.
Competitive Analysis
Competitive strategies in this space include new product development, geographical expansion, collaboration, mergers and acquisitions, and pricing strategies. For example, in May 2018, MicroPort, a Chinese company, acquired the cardiac rhythm management segment of LivaNova, enhancing its presence in the market. In January 2017, Abbott Laboratories acquired St. Jude Medical for a total of $25 billion. In August 2018, Boston Scientific Corp. signed an agreement to acquire Veniti Inc. The reduction in coronary stent prices in India by approximately 70% has made advanced products like “Absorb” and “Synergy & Promous Premier” from Abbott and Boston less affordable, providing opportunities for MicroPort to establish its market presence in India.
Benefits
This report offers a comprehensive overview of drug-eluting stents’ usage and adoption rates across various regions. It provides key stakeholders with insights into major trends, drivers, investments, and initiatives by industry players and governments. Additionally, the report highlights significant challenges that may impact market growth and identifies key business opportunities for stakeholders aiming to expand their presence and revenue in specific verticals. It serves as a valuable resource for informed decision-making before investing in or expanding business operations within this market.
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Key Stakeholders
- Healthcare providers
- Pharmaceutical companies
- Regulatory authorities
- Research institutions
- Distributors and suppliers
- Patients and caregivers
- Investors and venture capitalists
Market Dynamics:
Surging air traffic:
- As the global aviation industry continues to expand, there is a corresponding increase in market demand.
Heightened emphasis on safety and reliability:
- The aerospace and defense sector places significant importance on ensuring safety and reliability, which drives the need for top-notch market offerings.
Growing commitment to environmental sustainability:
- The aerospace and defense industry is increasingly dedicated to reducing its carbon footprint, resulting in the adoption of sustainable aviation fuels.
Escalating globalization:
- The growth of international trade and travel propels the demand for market solutions.
Increasing desire for private air transportation:
- The rising number of affluent individuals and their preference for exclusive air travel are generating fresh opportunities in the market.
Expanding utilization of digital fuel management systems:
- The integration of digital fuel management systems facilitates efficient fuel consumption and reduces associated costs.
Advancements in fuel cell technology:
- Ongoing developments in fuel cell technology unlock new possibilities for the production of sustainable market alternatives.
Mounting demand for air cargo transportation:
- The flourishing e-commerce sector fuels an increasing need for air cargo transportation, thereby driving the demand for market offerings.
Rising defense budgets:
- Governments worldwide are augmenting their defense spending, leading to heightened market demand.
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