Sirolimus-eluting Stents Market: Overview
Drug eluting stents are thin tubes with meshes coated with polymer that emit drug over a period of time to prevent scar tissue growth in the lining of the artery. These stents ensure that the artery is open and there is smooth flow of blood across the heart. Sirolimus is a macrolide compound that is used in coronary stents to prevent organ transplant rejection and treat lymphangioleiomyomatosis, a rare lung disease.
Sirolimus-eluting Stents Market: Key Trends
Growth of the sirolimus-eluting stents market can be ascribed to the increase in prevalence of artery diseases and rise in geriatric population. Additionally, increase in number of cardiac procedures in hospitals & ambulatory care centers; and rise in awareness about the treatment options for cardiovascular diseases are fueling the sirolimus-eluting stents market. Reduction of in-stent restenosis with drug eluting stents vis-à-vis bare metal stents, rise in adoption of minimally invasive procedures, and increase in number of research studies on the usage of sirolimus-eluting stents provide lucrative opportunities to the market.
Sirolimus-eluting Stents Market: Segmentation
The global sirolimus-eluting stents market can be segmented based on type, end-user, and region. In terms of type, the market can be bifurcated into polymer based and polymer free. The polymer based segment is anticipated to account for prominent share of the market during the forecast period. The segment is driven by the increase in availability of polymer based sirolimus-eluting stents. Based on end-user, the market can be segregated into hospitals, ambulatory surgical centers, and others. The hospitals segment is estimated to constitute major share of the market owing to the rise in patient population and growth in the number of cardiac procedures. In terms of region, the global sirolimus-eluting stents market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to hold large share of the sirolimus-eluting stents market during the forecast period owing to the presence of key companies offering cardiac medical devices, technological advancements, and increase in number of cardiac implantations in health care centers in the region. Prevalence of coronary heart disease (CHD) is also increasing among men and women in North America. According to the Center for Disease Control and Prevention (CDC), nearly 610,000 people die to due to heart diseases every year in the U.S. CHD is the common type of heart disease, causing 370,000 deaths every year in the U.S. The sirolimus-eluting stents market in Europe is likely to expand at a rapid pace during the forecast period, led by the rise in demand for drug eluting stents vis-à-vis bare metal stents, changing lifestyle, and increase in prevalence of lifestyle diseases such as diabetes and obesity in the region. The sirolimus-eluting stents market in Asia Pacific is expected to expand at a fast-paced CAGR during the forecast period driven by significant increase volume of cardiac procedures in countries such as China and India, rapid adoption of medical technologies, and growth in number of patients suffering from cardiac diseases, obesity, and diabetes. According to the American College of Cardiology, in India, death rate due to cardiovascular diseases (CVD) was 34% between 1990 and 2016. Furthermore, presence of well qualified and experienced cardiac surgeons in hospitals, strengthening health care system, and increase in number of health care institutes offering education on drug delivery systems in cardiology are likely to boost the sirolimus-eluting stents market during the forecast period.
Sirolimus-eluting Stents Market: Competitive Landscape
Key players operating in the global sirolimus-eluting stents market are STENTYS SA, iVascular SLU, nano Therapeutics Pvt. Ltd, S3V Vascular Technologies, Meril Life Sciences Pvt. Ltd., Micell Technologies, Inc., B. Braun Melsungen AG, SMT, and Eurocor Tech GmbH.
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