Drug-eluting Stents Market is Growing While Offering Massive Opportunities
Drug-eluting stents (DES) are placed inside blocked or narrowed coronary arteries, where they slowly release the drug to inhibit cell proliferation. Introduced in 2003, DES comprise a mesh-like tubular structure of thin wire; the drug and drug carrier which is a polymer or a mixture of polymer. Biostable or biodegradable polymers could be used to make the DES. Cytostatic drugs such as sirolimus or a cytotoxic drugs are used in these stents. DES have proven to be very successful in treating acute myocardial infarction, atherosclerosis, angina pectoris, and multiple vessel disease with reduced restenosis, allergic reactions, etc. compared to bare metal stents. These stents have almost eliminated the risk of restenosis, negative vessel remodeling, early stent thrombosis, and other side effects that occurred frequently due to the use of traditional bare metal stents (BMS). Post its discovery and approval to be utilized in coronary arteries, these stents have replaced BMS in the treatment of various cardiovascular disorders.
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The global drug-eluting stents market can be segmented based on the generation of DES, stent coating type, end-users, and region. In terms of generation of DES, the market can be categorized into first generation DES, second generation DES, and third generation DES. Based on stent coating, the market can be divided into biocompatible coatings, drug-delivery coatings, and polymer-free coatings/surfaces. In terms of end-users, the market can be classified into hospitals, ambulatory surgical centers, and cardiac centers.
Geographically, the global drug-eluting stents market is segmented into five major geographies: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounts for the largest market in terms of revenue followed by Europe. Dominance of these two regions is due to the high prevalence of cardiovascular diseases, growth in research activities, rise in the adoption of premium priced innovative solutions, and increasing disposable income. The Asia Pacific market is expected to expand at a high CAGR in the near future. Rise in medical tourism, growing awareness among people regarding cardiac devices and procedures, and developing health care infrastructure in countries such as India, China, and Malaysia are likely to support market growth.
According to the World Health Organization, coronary heart disease (CAD) accounted for nearly 7.2 million deaths in 2002. Moreover, the Centers for Disease Control and Prevention (CDC) stated that coronary heart disease accounted for around 370,000 deaths in the U.S. every year, and around 1 in every 13 individuals suffer from coronary artery disease in the country. In Europe, CAD accounts for nearly 1.9 million deaths each year. Moreover, 1 in every 5 individual (21% men, 22% women) succumb to coronary artery disease in the Europe. The disease is also one of the most common causes of premature deaths (aged <65 years) and accounts for nearly 401,000 deaths in Europe each year. Therefore, high prevalence of coronary artery diseases would increase the demand for percutaneous coronary interventions (PCIs), which could further propel the growth of the drug-eluting stents market. In addition, decrease of in-stent restenosis, increased efficiency, and a significant reduction in revascularization procedures with DES are the key factors that fuelled the growth of DES market in the past. The DES market growth would further be pulled by continuous launch of third generation DES that overcome limitations associated with BMS or second generation DES and wide usage of DES in emerging nations.
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Key players operating in the global drug-eluting market include Abbott Laboratories, Inc., Medtronic, Inc., Boston Scientific Corporation, Biotronik SE & Co. KG, B. Braun Melsungen AG, Cook Medical, Cardinal Health, Johnson & Johnson, and Terumo Corporation.
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