Drug Eluting Stent (DES) Market Size, Share & Industry Analysis, By Type (Coronary Stenting, and Peripheral Stenting), By Scaffold (Cobalt-Chromium, Platinum-Chromium, Nitinol and Others), By Drug (Sirolimus, Paclitaxel, Zotarolimus, Everolimus and Others), By End User (Hospitals, and Specialty Clinics), and Regional Forecast, 2019-2032

The global Drug Eluting Stent (DES) market size was valued at USD 5.71 billion in 2018 and is projected to reach USD 13.52 billion by 2032, exhibiting a CAGR of 6.3% during the forecast period.

A drug eluting stent is a semi-rigid, tube-like device made of metal and coated with a drug. The drug is slowly released to help prevention of restenosis or reoccurrence of the arterial blockage. Rapid technological advancements in the stent design and stent delivery systems are anticipated to reduce the cases of restenosis, even for the most complex lesions. Introduction technologically advanced stents by key market players is anticipated to limit the risk of early and late thrombosis.

MARKET TRENDS

Introduction of Drug Eluting Stent with Bioabsorbable Polymers is anticipated to Drive  the Market Growth

The evolution of drug eluting stent has led to opening of new pathways to percutaneous coronary interventions in the treatment of cardiovascular diseases. The development and introduction of fully bioresorbable polymers, aims towards avoiding restenosis, ensure patient safety, and improve clinical outcomes of the procedure. Several market players have been focusing on R&D and have launched advanced stents with bioabsorbable polymers. The DES enables accelerated healing of the vessels and ensures minimal damage to the tissues. For instance, in February 2019, Biotronik’s DES called ‘Orsiro’ received FDA approval. Orsiro is the first ultrathin, bioresorbable polymer coated DES.

Additionally, in July 2016, Abbott received FDA approval for Absorb GT1, a bioabsorbable polymer-based DES. The Absorb GT1 Bioresorbable Vascular Scaffold System (BVS), which releases the everolimus drug to limit the growth of scar tissue, is gradually absorbed by the body over the duration of three years. The launch of bioabsorbable polymer-based stents is anticipated to fuel the demand and subsequently drive the growth of the market.

MARKET DRIVERS

Rising Prevalence of Cardiovascular Disease to Drive the Drug Eluting Stent Market

The burden of cardiovascular diseases (CVDs) is rising globally, owing to numerous factors such as smoking, diabetes, obesity, and lifestyle changes. According to National Centre for Health Statistics, 1 in 4 deaths in the U.S. is a result of coronary artery diseases (CAD). In 2017, an estimated 18.2 million adults age 20 years and above in the U.S., were suffering from CAD. According to the European Heart Network, in 2015 more than 11.3 million new cases of patients suffering from cardiovascular diseases were diagnosed in Europe. The rising prevalence of coronary artery diseases and rising healthcare expenditure in developing countries, are factors projected to boost the demand for these stents in the global market.

Additionally, rising prevalence of peripheral arterial disease (PAD) is another factor anticipated to drive the Drug Eluting Stent market growth. For instance, according to the National Center for Chronic Disease Prevention and Health Promotion, approximately 8.5 million people aged 40 yrs. and above in the U.S., are suffering from PAD.

This is further anticipated to propel the demand for DES for peripheral stenting procedures globally.

Introduction of Advanced Drug Eluting Stent is projected to drive their Adoption in the Global Market

Robust research and development on cardiovascular interventions and introduction of bioresorbable polymer based DES are likely to play an important role in the strategic expansion of manufacturers in the  DES market. Introduction of technologically advanced stents is one of the major factors anticipated to drive the market growth during the forecast period.

In February 2019, Biotronik received FDA approval for Orsiro ultrathin DES proposed for use in percutaneous coronary intervention procedures. In May 2019, Boston Scientific launched third-generation platinum chromium DES TAXUS. The TAXUS element stent features a platinum chromium alloy engineered specifically for coronary stent applications and represents the company's third generation drug eluting stent technology.

Additionally, in September 2018, Terumo Corporation launched Ultimaster Tansei Drug Eluting Stent (DES) in Japan. The introduction of the Ultimaster Tansei DES allows physicians to reach and treat complex anatomies both with radial and femoral access with confidence based on the results of comprehensive clinical program of Ultimaster DES.

MARKET RESTRAINT

Frequent Product Recalls is one of the Major Elements Anticipated to Hamper the Market Growth

Despite rising prevalence of cardiovascular disease and introduction of novel and technologically advanced Drug Eluting Stent, there have been several product recalls by various key market players. Frequent product recalls by key market players is likely to hamper the growth of the DES market. For instance, in November 2017, Boston Scientific initiated a voluntary recall for its 150mm Eluvia drug eluting vascular stent, as well as its 180mm and 200mm Innova self-expanding stent system due to growing number of issues registered for partial stent deployment resulting into vessel trauma and prolongation of the implant procedure.

SEGMENTATION

By Type Analysis

Peripheral Stenting is anticipated to grow at significant CAGR during the forecast period

Based on indication, the market is segmented into coronary stenting and peripheral stenting. The coronary stenting segment dominated the stenting segment in 2018. Growing prevalence of coronary artery diseases, combined with increasing preference for Drug Eluting Stent by healthcare providers globally, is projected to drive the growth of the segment. The peripheral stenting segment is likely to gain significant share and offer lucrative opportunities during the forecast period of 2019-2026. This is attributed to an increase in the demand for drug eluting vascular stents for the treatment of peripheral vascular diseases. The rising prevalence of peripheral vascular diseases is one of the factor anticipated to increase demand for DES hence propelling the growth of the segment.

By Drug Analysis

Sirolimus is anticipated to Aid Dominance of the Segment

In terms of drug, the market is segmented into Sirolimus, Paclitaxel, Zotarolimus, Everolimus, & Others. The sirolimus segment is estimated to grow at a significant CAGR during the forecast period due to high preference among end users. Few distinct qualities of the sirolimus coated stents include, limited or reduced late lumen loss and angiographic restenosis. Older generations of DES have been coated with sirolimus and paclitaxel, both these drugs showing clinical effectiveness in prevention of restenosis. However, newer generation of DES have shown more reliability on the Zotarolimus, everolimus and other drugs for treatment of coronary and peripheral diseases. In February 2018, Medtronic launched first 2.0 mm drug eluting stent Resolute Onyx in U.S. Resolute Onyx is a Zotarolimus eluting coronary stent system. Everolimus coated DES have demonstrated clinical effectiveness in reduced vascular inflammation, and rapid endothelialisation. This has led to growing preference of healthcare providers towards DES coated with these drugs. 

By Scaffold Analysis

Cobalt Chromium Segment is anticipated to grow at a Faster Pace during the forecast period

Based on scaffold, the market is segmented into cobalt-chromium, platinum-chromium, nitional, and others. The cobalt-chromium segment is anticipated to dominate the market during the forecast period of 2019-2026, due to the increase in the use of cobalt-chromium stents and investment by various key market players manufacturing cobalt-chromium based stents. Flexibility, long shelf-life, and better biocompatibility of cobalt chromium based Drug Eluting Stent are some of the major factors anticipated to increase the demand for the these stents , hence driving the segment growth.

By End User Analysis

Higher Adoption of  by Hospitals to Enable Dominance of the Segment

Rising healthcare expenditure and development of new hospitals in developing countries are some of the major factors attributable to the dominance of the hospitals segment. Increasing coronary intervention procedures is also one of the additional factor anticipated to propel the growth of the hospital segments. However, the shift of coronary interventions from hospitals to ambulatory surgical centers is expected to positively impact the growth of the specialty clinics segment.

REGIONAL ANALYSIS

The global Drug Eluting Stentmarket size in North America stood at USD 1.76 billion in 2018. North America is expected to hold a major market share due to favorable reimbursement policies, coupled with the rising prevalence of cardiovascular diseases in this region. Furthermore, the increasing demand for biodegradable polymer-based drug eluting scaffolds, and rise in research and development activities for the development of vascular stents, are some of the major factors propelling the growth of the market in North America. Europe is anticipated to grow at a faster pace owing to due to the increase in the number of 3rd generation DES  receiving the CE mark and advancements in polymer technology for manufacturing stents. For instance, February 2016, a stent called Resolute Onyx launched by Medtronic received the CE mark. Asia Pacific, on the other hand, is anticipated to grow at a significant CAGR due to the increasing prevalence of cardiovascular diseases and introduction of technologically advanced drug eluting stents. Latin America and the Middle East & Africa are anticipated to grow at a moderate rate due to lower adoption of technologically advanced solution.

KEY INDUSTRY PLAYERS

Abbott, Medtronic, and Boston Scientific Corporation are some of the Leading Market Players

The Drug Eluting Stent market is a consolidated market comprising of few key players. The competitive landscape consists of large, mid-size, and small companies that have developed different types of stents to target various indications. The market is largely dominated by a few key players, including Abbott, Medtronic, and Boston Scientific Corporation accounting for more than 50.0% of share.

Innovation in DES, increase in number of clinical trials and investment in research & development, and step towards geographic expansion are some of the major strategies adopted by key market players operating in this market.

LIST OF KEY COMPANIES PROFILED:

• Boston Scientific Corporation


• Abbott


• Medtronic


• Biotronik


• Terumo Corporation


• MicroPort Scientific Corporation


• Sahajanand Medical Technologies


• Others

KEY INDUSTRY DEVELOPMENTS:

• June 2021 – Abbott announced that their product line XIENCE stents have received approvals for one-month Dual Antiplatelet Therapy (DAPT) from the U.S. FDA as well as CE Mark approval in Europe as the shortest blood thinning course for patients with high bleeding risk in the U.S. region.


• January 2021 – Boston Scientific Corporation announced that they have received U.S. FDA approval for their Synergy Megatron Drug Eluting Stent System. This DES system is designed to treat large proximal which are present closer to the aorta.


• October 2020 – Medtronic plc announced that they received U.S. FDA approval for their product Resolute Onyx as a one-month dual antiplatelet therapy labeling for patients with expanded indication for high bleeding risk.


• February 2020– BIOTRONIK announced that they have received a CE Mark certification for their Orsiro Mission drug eluting stent system. This approval will help the company commercialize the device in the European region.

REPORT COVERAGE

The Drug Eluting Stent market report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product types, and leading applications of the product. Besides this, the report offers insights into the market, current Drug Eluting Stent market trends and highlights the key industry developments. In addition, the report encompasses several factors that have contributed to the growth of the market over the recent years.

Report Scope & Segmentation