Drug Eluting Stent Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.30 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Drug Eluting Stent Market Analysis
The drug-eluting stent market is expected to register a CAGR of 5.3% during the forecast period.
The COVID-19 pandemic has had a significant impact on the drug-eluting stent market. As countries implemented lockdown measures and healthcare resources were redirected towards managing the pandemic, elective procedures, including cardiac interventions like stent implantation, were postponed or cancelled. For instance, according to an article published by The Lancet, regional health, in May 2022, during the COVID-19 pandemic, the number of patients who underwent percutaneous coronary intervention substantially decreased in Japan. Patients who underwent percutaneous coronary intervention during the pandemic presented high-risk characteristics associated with significantly higher in-hospital mortality. This led to reduced procedures and decreased demand for drug-eluting stents. However, the drug-eluting stent market is witnessing a rebound due to the adoption by healthcare workers and increased awareness of cardiovascular health post-pandemic, thereby driving the market growth in the post-pandemic period.
The primary factor for the growth of the market is the increasing prevalence of cardiovascular diseases such as peripheral and coronary artery diseases as drug-eluting stents are specifically designed to prevent the re-narrowing of blood vessels as these stents are coated with medications that inhibit the proliferation of smooth muscle cells and reduce the risk of restenosis. For instance, according to the American Heart Association 2021 report, peripheral artery disease (PAD) affects more than 200 million people worldwide and is associated with high mortality and morbidity. Thus, an increased burden of peripheral artery diseases contributes to the growth of the studied market.
Additionally, growing demand for minimally invasive surgeries is expected to drive market growth as they involve using small incisions and drug-eluting stents to treat narrowed or blocked coronary arteries. For instance, an article published by the National Library of Medicine in January 2023 reported more than three million minimally invasive surgery cases were calculated annually in the United States. These procedures offer several advantages, such as reduced trauma to the body, shorter hospital stays, faster recovery times, and fewer complications. Hence, with a high demand for minimally invasive procedures, the need for drug-eluting stents increases, leading to market growth.
Furthermore, various strategies adopted by the key market players, such as product launches, mergers and acquisitions, and partnerships to expand the product footprint, are further expected to increase the market growth. For instance, in October 2021, Boston Scientific Corporation reported positive data for the Eluvia Drug-Eluting Vascular Stent System (Eluvia stent) during a late-breaking clinical trial presentation at the Vascular InterVentional Advances (VIVA) meeting in Las Vegas.
Hence, as per the factors such as the increasing prevalence of cardiovascular diseases such as peripheral and coronary artery diseases and the growing demand for minimally invasive surgeries, the drug-eluting stent market will likely grow over the forecast period. However, the strict regulatory approval process of products and adverse effects associated with the drug-eluting stents coupled with product recalls are expected to restrain the market's growth.
Drug Eluting Stent Market Trends
Coronary Artery Disease Segment is Expected to Hold a Significant Market Share in the Drug Eluting Stent Market
Coronary artery disease (CAD) is a cardiovascular condition characterised by the narrowing or blockage of the coronary arteries, which supply oxygen-rich blood to the heart muscle. The accumulation of fatty plaques, cholesterol, and other substances on the artery walls causes the blockage. This lead to symptoms such as chest pain or discomfort, known as angina. DES are coated with anti-proliferative drugs that are slowly released over time to inhibit the growth of smooth muscle cells in the arterial wall, thereby preventing the re-narrowing of arteries. The CAD segmental growth is attributed to the rising burden of coronary artery disease, and technological advances in the drug-eluting stent over the forecast period drive the segment growth. For instance, according to a study published by the National Library of Medicine, in February 2022, coronary drug-eluting stents reduce in-stent restenosis by delivering drug combinations with several effects. These stents help to inhibit cell growth and reduce the risk of restenosis by releasing the drug over time, thereby improving the long-term outcomes of patients with CAD. Thus, the benefits of the drug-eluting stent to treat patients with coronary artery disease are anticipated to boost segment growth.
Furthermore, according to the National Heart, Lung, and Blood Institute update of March 2022, about 18.2 million American adults were affected by coronary artery disease, making it the most common type of heart disease in the United States. Similarly, according to a CDC update of March 2023, about 5% of adults aged 20 and older had CAD in 2021. Thus, with the high burden of coronary artery disease, the demand for drug-eluting stents is expected to increase, thereby driving market growth.
Companies are introducing new, more sophisticated drug-eluting stent systems to expand their product footprint, which is anticipated to support coronary artery disease, thereby driving segmental growth significantly. For instance, in August 2022, Medtronic launched its Onyx Frontier drug-eluting stent (DES), a new interventional offering for coronary artery disease (CAD) designed to have an updated delivery system, improved flexibility and lower crossing profile. Such an initiative is expected to drive segmental growth.
As a result of the factors such as the high burden of coronary artery disease, and company initiatives for new product development, the drug-eluting stent segment is expected to have a sizable proportion of the market in the studied market throughout the forecast period.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same Over the Forecast Period
North America is expected to hold a significant market share in the drug-eluting stent market due to favourable reimbursement policies and a high incidence rate of artery diseases in this region. Moreover, technological advancements in drug-eluting stents and the presence of well-established healthcare infrastructure are also fueling the growth of the overall market. For instance, according to the Journal of the American College of Cardiology published in February 2023, the incidence rate of atherosclerotic cardiovascular disease was 2.60 per 1,000 person-years among those with raised 10-year predicted risk, 1.87 in those with low 10-year but elevated 30-year predicted risk and 0.32 in those with low 10-year and 30-year predicted risk in the United States. Thus, with the high burden of atherosclerotic cardiovascular disease, the demand for its treatment with drug-eluting stents increases, leading to market growth in the region.
Additionally, as old-age patients are more likely to develop cardiovascular diseases, including CAD, the demand for drug-eluting stents for their treatment increases. Thus, the growing geriatric population in the country supports further market expansion in the region. For instance, according to an article published by AK Journals in March 2022, CAD is present in 50% of older women and 70%-80% of older men. Additionally, according to the Hub press release in December 2022, Canada's elderly population has grown to 7.34 million in 2022. Over 20 years, Canadians aged 65 and older will increase by 49% to 10.93 million in 2042. Also, according to the World Bank update, the total population of Mexico aged 65 and above was 10.6 million in 2022. Thus, a high burden of an ageing population with associated CAD will likely increase the adoption of drug-eluting stents, thereby driving market growth.
Additionally, key market players in the region are developing novel products and technologies to compete with existing products, while others are acquiring and partnering with other companies trending in the market to increase the product footprint, thereby driving regional growth over the forecast period. For instance, in June 2021, Abbott reported that their product line XIENCE drug-eluting stent had received approvals for one-month Dual Antiplatelet Therapy (DAPT) from the U.S. FDA as the shortest blood thinning course for patients with high bleeding risk in the U.S. region. Such development is expected to drive market growth over the forecast period.
Thus, factors such as the high incidence rate of coronary artery diseases and strategic initiatives taken by key market players are expected to boost the market growth over the forecast period in the North America Region.
Drug Eluting Stent Industry Overview
The drug-eluting stent market is fragmented due to the presence of companies operating globally and regionally. Some of the key companies in the market are Boston Scientific Corporation, Terumo Corporation, Abbott Laboratories, Medtronic Plc, Biotronik SE & Co. KG, and Biosensors International Group, Ltd, among others.
Drug Eluting Stent Market Leaders
Boston Scientific Corporation
Terumo Corporation
Abbott Laboratories
Medtronic Plc
Biotronik SE & Co. KG
*Disclaimer: Major Players sorted in no particular order
Drug Eluting Stent Market News
- In May 2023, CoSo Health signed a U.S. distribution agreement with Medinol for EluNIR, a new generation, thin-strut drug-eluting stent (DES).
- In April 2023, BIOTRONIK reported a commercial launch in Canada for its Orsiro Mission bioabsorbable polymer drug-eluting stent system (BP-DES) indicated for improving coronary luminal diameter in patients, including those with diabetes mellitus, symptomatic heart disease, stable angina, unstable angina, non-ST elevation myocardial infarction due to atherosclerotic lesions.
Drug Eluting Stent Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rise in Geriatric Population and Increasing Prevalence of Cardiovascular Diseases
4.2.2 Growing Demand for Minimally Invasive Surgeries
4.3 Market Restraints
4.3.1 Strict Regulatory Approval Process of Products
4.3.2 Adverse Effects associated with the Drug Eluting Stents coupled with Product Recalls
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value USD million)
5.1 By Coating
5.1.1 Polymer Based Coating
5.1.1.1 Biodegradable
5.1.1.2 Non-biodegradable
5.1.2 Polymer Free Coating
5.2 By Application
5.2.1 Coronary Artery Disease
5.2.2 Peripheral Artery Disease
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle East and Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Boston Scientific Corporation
6.1.2 Terumo Corporation
6.1.3 Abbott Laboratories
6.1.4 Medtronic Plc
6.1.5 Biotronik SE & Co. KG
6.1.6 Biosensors International Group, Ltd
6.1.7 MicroPort Scientific Corporation
6.1.8 Cook Medical
6.1.9 Biosensor International (Shandong JW Medical Systems)
6.1.10 Stentys SA
6.1.11 HangZhou HuaAn Biotechnology Co., Ltd.
6.1.12 AlviMedica Medical Technologies Inc.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Drug Eluting Stent Industry Segmentation
As per the scope of the report, a drug-eluting stent (DES) is a medical device used to treat narrowed or blocked coronary arteries, a condition known as coronary artery disease (CAD). It is a stent, implanted into the affected artery to help restore blood flow and support the arterial walls. The Drug-Eluting Stent Market is Segmented by Coating (Polymer Based Coating (Biodegradable and Non-biodegradable), and Polymer Free Coating), Application (Coronary Artery Disease, and Peripheral Artery Disease), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.
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Drug Eluting Stent Market Research FAQs
What is the current Global Drug Eluting Stent Market size?
The Global Drug Eluting Stent Market is projected to register a CAGR of 5.30% during the forecast period (2024-2029)
Who are the key players in Global Drug Eluting Stent Market?
Boston Scientific Corporation, Terumo Corporation, Abbott Laboratories, Medtronic Plc and Biotronik SE & Co. KG are the major companies operating in the Global Drug Eluting Stent Market.
Which is the fastest growing region in Global Drug Eluting Stent Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Drug Eluting Stent Market?
In 2024, the North America accounts for the largest market share in Global Drug Eluting Stent Market.
What years does this Global Drug Eluting Stent Market cover?
The report covers the Global Drug Eluting Stent Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Drug Eluting Stent Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Drug Eluting Stent Industry Report
Statistics for the 2024 Drug Eluting Stent market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Drug Eluting Stent analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
