Market Trends of Coronary Stent Industry
Drug-Eluting Stent Segment is Expected to Occupy a Significant Market Share Over the Forecast Period
To prevent excessive neointima growth, drug-eluting stents (DES) deliver an antiproliferative drug to the target lesion. A typical metallic stent, a polymer covering, and an antirestenotic medication are all parts of the DES. The antirestenotic medication is combined into the polymer and released over weeks to months after the DES is implanted. Due to their much lower risk of target vessel revascularization, DES are preferred over bare-metal stents and other stent types for percutaneous coronary intervention with stenting. This is projected to be a major growth factor for the drug-eluting stent. The main drug-eluting stent systems available right now include XIENCE from Abbott, SYNERGY DES from Boston Scientific, Cre8 EVO from Alvimedica, and Resolute Onyx DES from Medtronic Plc. The presence of such market players is expected to increase market growth as it increases the availability of products in the market.
Besides, the rise in the elderly population along with the diabetic population has increased the risk for coronary heart disease. For instance, according to the International Diabetes Federation (IDF), in 2021, there were around 90 million adults (aged 20-79 years) with diabetes in the South-East Asia (SEA) region. This number is projected to rise to 151 million by 2045. Over half of people with diabetes (51.3%) in South-East Asia (SEA) are undiagnosed. Thus, such increasing prevalence of diabetes is expected to increase cardiovascular disease which is project to augment the demand for drug-eluting stents over the forecast period.
Furthermore, companies are also launching new and more advanced drug-eluting stent systems which are further expected to fuel the segmental growth. For instance, in June 2021, the FDA granted Abbott permission to label the XIENCE family of drug-eluting stents for dual-antiplatelet therapy for patients with high bleeding risk (HBR) in the United States for a month. Early in April 2021, Abbott's XIENCE drug-eluting stent received a CE mark in Europe for a condensed version of dual antiplatelet therapy (DAPT for patients with high bleeding risk).
Thus, the abovementioned factors are expected to increase the market growth.
Asia-Pacific Region is Expected to Hold a Significant Market Share in the Coronary Stent Market Over Forecast Period
Cardiovascular disease is quite prevalent in the countries with the largest populations such as China and India. The coronary stent market is anticipated to grow in the region owing to the increasing elderly population and the development of new products. For instance, the Australian Bureau of Statistics 2020-2021 stated that in 2020-2021, 571,000 Australians aged 18 and over (2.9% of the adult population) had chronic heart problems. Due to the high prevalence of coronary artery disease, more cardiology intervention operations are being performed in the area, which is anticipated to boost the market growth.
Japan is expected to hold a significant share of the market during the forecast period due to the factors such as the launch of new products. As an illustration, in February 2022, the Japanese vascular specialist company MDK Medical was acquired by MedAlliance's partner. To develop Japanese clinical studies for its new sirolimus drug-eluting balloon (DEB) Solution SLR for the treatment of peripheral artery disease, MDK Medical previously collaborated closely with MedAlliance. The alliance is anticipated to accelerate market expansion in Japan. Similarly, product approvals also contribute to the country's market expansion. For instance, Biosensors International Group, Ltd. gained US FDA approval for BioFreedom in April 2022 as well as Japanese PMDA approval for BioFreedom Ultra on March 31, 2022. Thus, such approvals are expected to increase the availability of advanced products which is expected to increase market growth in the region.
Therefore, owing to the factors mentioned above, the Asia-Pacific region is expected to hold a significant market share.
