Drug-eluting Stents Market
Drug-eluting Stents Market (Product: Polymer-based and Polymer-free; Drug: Sirolimus, Everolimus, Paclitaxel, Zotarolimus, Biolimus, and Others; Generation: 1st Generation, 2nd Generation, 3rd Generation, and 4th Generation: Scaffold: Cobalt-Chromium, Platinum-Chromium, Nitinol, Biodegradable, and Others; Application: Coronary Diseases and Peripheral Vascular Diseases; End User: Hospitals and Ambulatory Surgical Centers) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027
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Drug-eluting Stents Market: Decoding the Newest Generation of Drug-eluting Stents, and Beyond
As the healthcare industry reforms to convert the current fee-for-service model to fee-for-value model, intense focus has been placed on the reduction in patient complications, and number and length of hospital stay. Interventional cardiology, in particular, is at a pivot point with remarkable evolution taking place in device technology, operator techniques, and clinical safety and efficacy. Enormous advances have been made in the treatment of coronary artery disease, and the era of 'stent implantation' is upon today’s patients. Moreover, the advent of drug-eluting stents (DES) has considerably changed and revolutionized the interventional landscape, and made angioplasty more predictable, as such, catalyzing the growth of the drug-eluting stents market.
In recent years, acceleration in device development, advances in adjunctive pharmacology, and improved information systems have turned the spotlight on the drug-eluting stents market. According to the latest research by Transparency Market Research (TMR)on the drug eluting stents market, the worldwide sales of drug-eluting stents will reach ~US$ 5.5 billion in 2019, recording a promising CAGR of ~5% during the period of 2019-2027.
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Drug-eluting Stents Market: Bioresorbable Stents – The Product of Choice
Rapid advancements in stent designs and delivery systems have made stenting much easier to integrate in interventional milieu – reducing the cases of restenosis, even for the most complex lesions. However, with the occurrence of stent thrombosis, manufacturers in the drug-eluting stents market are focusing on the development of newer generation of drug-eluting stents that facilitate the eradication of this fatal outcome. Bioresorbable stent (BRS) technology has been gaining increasing momentum in the most recent generation of drug-eluting stents, which are associated with significant reduction in the risk of early and late thrombosis.
While DES based on durable polymers continue to account for relatively high sales, manufacturers operating in the drug-eluting stents market are focusing on innovating and increasing the production of biodegradable polymer-based DES, as such polymers degrade efficiently after the elution of drugs. In addition, rising safety concerns regarding the usage of third-generation drug-eluting stents have prompted the development of fully-biodegradable or bioresorbable stents due to their potential advantages in decreasing inflammatory response, improving drug elution kinetics, and predictably inhibiting restenosis and late stent thrombosis.
Bioresorbable drug-eluting stents/scaffolds are likely to represent a crucial step in stent technology development, and provide the added benefit of completely degrading, allowing the recovery of vessel vasoreactivity and endothelial function. TMR’s analysts forecast that, the fourth-generation of drug-eluting stents will record an impressive CAGR of ~52% during the predefined timeframe.
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Will Developing Nations Offer Greater Growth Opportunities to the Global DES Market?
While stringent regulatory requirements set by the FDA have long affected the commercialization of various drug-eluting stents in the United States, increased access to advanced technologies and successful outcomes in clinical trials have been recently influencing the FDA approvals of newer generation of products. For instance, in 2019, BIOTRONIK announced the FDA approval of its ultrathin Orsiro drug-eluting stent (DES) system, while the same device received its CE marking in 2011. Such factors, along with robust R&D on cardiovascular interventions and increase in demand for bioresorbable drug-eluting stents, are likely to play an important role in the strategic expansion of manufacturers in developed drug-eluting stents markets.
Leading stakeholders in the drug-eluting stents market continue to view developing countries in Asia Pacific from a target market perspective, on the account of increased healthcare expenditure per capita and favorable government initiatives to improve the industry’s infrastructure. However, the emergence of a large number of local players along with government reforms is playing a major role in deciding the prices of stents, which has represented a potential threat to the steady expansion of key players. For instance, price caps initiated by the National Pharmaceutical Pricing Authority (NPPA) in India has led to the withdrawal of DES systems by global manufacturers, while creating a golden opportunity for local players.
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Analysts’ Viewpoint of the Drug-eluting Stents Market
Although significant advances have been made, the most reliable drug-eluting stent systems are yet to be developed, according to TMR’s analysts. Considering the risk of late thrombosis among patients, manufacturers will need to conduct larger trials and longer follow-ups to assess the effectiveness of their novel devices. According to TMR’s analysts, the success of key drug-eluting stents market players in developing countries with high pricing pressure will hinge on offering high-quality products at affordable prices. Local players, on the other hand, will need to focus on developing the latest generation of drug-eluting stents to retain and attract new segments of end users.
- According to Transparency Market Research’s latest market report on the drug-eluting stents for the historical period of 2017 & 2018 and forecast from 2019 to 2027, the introduction of fully-bioresorbable stents, rise in the prevalence of cardiovascular diseases, and product launches by key market players are key factors that are anticipated to drive the market.
- Globally, in terms of revenue, the drug-eluting stents market is estimated to reach ~US$ 8.3 Bn in 2027. The market is expected to expand at a CAGR of ~5%, in terms of value, during the forecast period.
Introduction of Fully-bioresorbable Stents: A Key Driver
- The evolution of drug-eluting stent technologies has led to a revolution in the treatment of cardiovascular diseases, and has opened new pathways to percutaneous coronary interventions.
- The development of fully-bioresorbable stents or scaffolds was initiated with an objective to avoid restenosis, ensure safety, and improve the lives of patients.
- Several market players have recently launched fully-bioresorbable stents or scaffolds with no stent residue left after drug elution. This enables quicker healing of the heart vessels and ensures minimal damage to the tissues.
- In April 2017, Reva Medical received the CE mark for the Fantom drug-eluting bioresorbable coronary scaffold, enabling the company to gain access to the drug-eluting stents market in Europe.
Increase in Prevalence of Cardiovascular Diseases Drives the Drug-eluting Stents Market
- The burden of cardiovascular diseases (CVDs) is on the rise globally, owing to numerous risk factors such as smoking, diabetes, obesity, and lifestyle changes.
- According to the World Health Organization (WHO), in 2016, 17.9 million people died due to CVDs, accounting for 31% of deaths, worldwide.
- As per the American Heart Association, in the U.S., there were 840,678 deaths due CVD in 2016. Furthermore, between 2013 and 2016, 121.5 million adults in the U.S. were diagnosed with some form of CVD. In the U.S., in 2016, coronary diseases was the leading cause of deaths, and accounted for 43.2% of overall deaths.
- The burden of CVD is higher in countries across Asia Pacific. According to Lancet, deaths due to coronary diseases are increasing in the rural areas in India, and are expected to be higher than those in urban areas in the country.
- As such, increase in the prevalence of CVD is anticipated to drive the drug-eluting stents market.
Global Drug-eluting Stents Market: Key Segments
- In this market report, TMR proposes that, in terms of product, the polymer-based segment dominated the global drug-eluting stents market in 2018. The segment is expected to maintain its dominance during the forecast period. Expansion of the segment is attributed to the availability of a wide range of polymer-based drug-eluting stents in the market, and their high rate of adoption for coronary interventions across the globe. Furthermore, recent product approvals are likely to boost the segment during the forecast period. In February 2018, Medtronic launched Resolute Onyx 2.0 mm DES in the U.S. This product enabled cardiologists to treat patients with coronary artery disease, and have small vessels that cannot be treated with larger size stent technologies available in the drug-eluting stents market.
- In terms of drug, the sirolimus segment is estimated to expand at a high CAGR during the forecast period. Sirolimus is an extensively used drug for stents. Sirolimus coated drug-eluting stents have less late lumen loss and less angiographic restenosis.
- In terms of generation, the global drug-eluting stents market has been classified into 1st generation, 2nd generation, 3rd generation, and 4th generation. The 3rd generation drug eluting stents segment is anticipated to hold a notable share of the global drug-eluting stents market by 2027. The 4th generation DES segment is projected to expand at a high CAGR during the forecast period.
- Based on scaffold, the cobalt-chromium segment is anticipated to dominate the global drug-eluting stents market from 2019 to 2027, which is attributed to an increase in the use of cobalt-chromium stents and several market players manufacturing cobalt-chromium-based stents. Flexibility, long shelf-life, and better biocompatibility of cobalt-chromium-based drug-eluting stents are anticipated to attribute to its leading share of the global market.
- Based on application, the global drug-eluting stents market has been bifurcated into coronary diseases and peripheral vascular diseases. The peripheral vascular diseases segment is likely to gain significant share and offer lucrative opportunities during the forecast period. This is attributed to an increase in the demand for drug-eluting vascular stents for the treatment of peripheral vascular diseases. As per the Cochrane Database Syst Rev 2016, in Western countries, the prevalence of peripheral vascular diseases is increasing among people above 50 years of age.
- In terms of end user, the global drug-eluting stents market has been bifurcated into hospitals and ambulatory surgical centers. The ambulatory surgical centers segment is projected to expand at a notable CAGR due to a shift of coronary interventions from hospitals to ambulatory surgical centers.
- The drug-eluting stents market size and forecast for each of these segments has been provided for the duration of 2017 to 2027. The CAGR of respective segments has also provided for the forecast period from 2019 to 2027, with 2018 as the base year.
Drug-eluting stents Market: Competition Landscape
- Prominent players operating in the global drug-eluting stents market are profiled based on key aspects such as company overview, product portfolio, financial overview, recent developments, and competitive business strategies.
Major companies profiled in the drug-eluting stents market report include
- Boston Scientific Corporation
- Biosensors International Group, Ltd ( Bluesail Medical Co., Ltd.)
- MicroPort Scientific Corporation
- Terumo Corporation
- STENTYS SA, and Medinol Ltd.
Adoption of Expansion Strategies by Major Players in Drug-eluting Stents Market
- Innovation in drug-eluting stents, increase in number of clinical trials, and geographic expansion were key strategies adopted by major players operating in the global drug-eluting stents market.
- In February 2019, Medtronic received FDA approval for Resolute DES platforms such as the Resolute Onyx and Resolute Integrity DES, for expanded indications such as de novo chronic total occlusion (CTO).
- In August 2018, Firehawk received regulatory approval from Malaysia's Medical Device Authority, enabling the company to gain access to the drug-eluting stents market in Malaysia.
- In the global drug-eluting stents market report, we have discussed individual strategies, followed by company profiles of the manufacturers of drug-eluting stents. The ‘Competitive Landscape’ section is included in the drug-eluting stents market report to provide readers with a dashboard view and a company market share analysis of the key players operating in the global drug-eluting stents market.
Drug-eluting Stents Market – Scope of the Report
[256 Pages Report] The latest research from Transparency Market Research offers a perspective on the growth trajectory of drug-eluting stents market for the period of 2019-2027. The prime objective of this report is to provide insights and key dynamics pertaining to the drug-eluting stents market that are gradually helping reimagine its future development prospects.
Key growth indicators of the drug-eluting stents market, including historical value and volume analysis, pricing analysis, value and supply chain analysis, and Y-o-Y growth trend analysis have been elucidated in the report. Readers can avail unbiased analysis and in-depth information on the drug-eluting stents market that can help them estimate both, qualitative and quantitative growth prospects of the market for the given timeframe.
TMR covers a detailed taxonomy of the drug-eluting stents market, along with an incisive outlook on the competitive scenario. The report profiles a list of companies operating in the drug-eluting stents market, wherein, the product portfolios, technological innovations, geographical expansion, and key growth strategies of these players have been mentioned in detail.
The report on the drug-eluting stents market allows stakeholders to understand key demand trends that end users may seek in the long run, and the appropriate sourcing strategy for the same. For companies involved in the drug-eluting stents market, the report helps understand key end users contributing to demand, allowing them to strategically formulate steps to enhance their sales prospects.
Key Questions Answered in the Drug-eluting Stents Market Report
Elaborate insights provided in the drug-eluting stents market report address various questions to help stakeholders gain a deeper understanding and take critical decisions with confidence and clarity. Some of these questions include:
- What is the consumption rate of the products based on geographical division?
- Which trends and barriers will impact the development and sizing of the drug-eluting stents market?
- What growth momentum or acceleration does the drug-eluting stents market carry during the forecast period?
- Which region may tap the highest market share in the next five years?
- What focused approach and constraints are holding the drug-eluting stents market tight?
- What are the general conditions prevailing and influencing the business environment of the drug-eluting stents market?
- How have leading players in the drug-eluting stents market been able to maintain a distinct competitive edge over their competitors?
The drug-eluting stents market report is a result of unique research methodology, which includes a perfect combination of primary research, secondary research, and expert panel reviews. The data repository for the drug-eluting stents market is updated on a continuous basis, with key stakeholders and their developments tracked at regular intervals.
Secondary sources such as annual reports, company websites, industry white papers, government publications, investor presentations, statistical databases, internal and external proprietary databases, and regulatory databases are generally referred to for developing preliminary market understanding.
Primary research involves interviews and e-mail interactions with C-level executives, KOLs, and regional officers of companies operating in the drug eluting stents market, for unbiased, yet detailed reviews on the drug-eluting stents market across different geographical divisions.
Information obtained from secondary resources and verified by primary resources have contributed to the compilation of the drug-eluting stents market report.
Drug-eluting Stents Market – Segmentation
The report provides an all-inclusive segmental analysis of the global drug-eluting stents market, which has been classified into seven broader categories – product, drug, generation, scaffold, application, end user, and region. Analysis of key geographies that account for growth opportunities or hold substantial share has also been included as part of the geographic analysis of the drug-eluting stents market.
Peripheral Vascular Diseases
Ambulatory Surgical Centers
Middle East & Africa