Sirolimus-eluting Stents Market: Introduction
- Drug eluting stents are thin tubes with meshes coated with polymer that emit drug over a period to prevent scar tissue growth in the lining of the artery. These stents ensure the artery is open and smooth flow of blood across the heart. Sirolimus is a macrolide compound 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 global sirolimus-eluting stents market can be ascribed to rise in prevalence of artery diseases and increase in the geriatric population. Additionally, surge in number of cardiac procedures in hospitals & ambulatory care centers and rise in awareness about the treatment options for cardiovascular diseases fuel the growth of the global 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 in the market.
- The world is presently struggling with the COVID-19 pandemic. COVID-19 leads to pneumonia, severe & acute respiratory disorders, multiple organ failure, and, in severe cases, death. The geriatric population is more prone to COVID-19. Growth of the global sirolimus-eluting stents market has been slightly hampered by the pandemic.
- Governments of developing countries are making significant investments to modernize health care infrastructure in their respective countries, which is likely to increase access to health care. This is expected to increase the demand for sirolimus-eluting stents. Rise in prevalence of chronic heart diseases, especially heart attack, in developing countries presents lucrative opportunities in the global sirolimus-eluting stents market.
North America to Capture Major Share of Global Sirolimus-eluting Stents Market
- North America is projected to account for large share of the global 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. Prevalence of coronary heart disease (CHD) is rising among men and women in North America. According to the Centers for Disease Control and Prevention (CDC), nearly 655,000 people in the U.S. succumb to heart diseases in the U.S. each year. Additionally, heart disease is the leading cause of death among men, women, and people of racial and ethnic groups in the country. Moreover, one person dies every 36 seconds in the U.S. from cardiovascular disease.
- 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 rise 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 high CAGR during the forecast period driven by significant increase in number of cardiac procedures in countries such as China and India, rapid adoption of medical technologies, and surge in number of patients suffering from cardiac diseases, obesity, and diabetes. 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 growth the sirolimus-eluting stents market in Asia Pacific during the forecast period.
Key Players Operating in Global Sirolimus-eluting Stents Market
The global sirolimus-eluting stents market is highly consolidated due to the presence of small number of key players. These players hold major share in their respective regions. Growth strategies adopted by leading players are likely to drive the global sirolimus-eluting stents market.
Major players operating in the global sirolimus-eluting stents market are listed below:
- iVascular S.L.U.
- Nano Therapeutics Pvt. Ltd.
- S3V Vascular Technologies
- Meril Life Sciences Pvt. Ltd.
- SMT
- Eurocor Tech GmbH
- Other prominent players
Global Sirolimus-eluting Stents Market: Research Scope
Global Sirolimus-eluting Stents Market, by Type
- Polymer-based
- Polymer-free
Global Sirolimus-eluting Stents Market, by End-user
- Hospitals
- Ambulatory Surgical Centers
- Others
Global Sirolimus-eluting Stents Market, by Region
- North America
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
