Drug Eluting Stents Market Overall study report 2021-2028 | Boston Scientific Corporation, Medtronic, Abbott Laboratories

Overview

Manufacturers are focused on development and launch of new drug-eluding stents. Such stents do not need to be replaced very often. They typically last from six to twelve months and can even be reused for up to eight years before they need to be replaced.

Market Statistics:

The global drug eluting stents market was valued at US$ 3,265.8 million in 2018 and is expected to exhibit a CAGR of 7.4% during the forecast period (2021-2028).

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Key Players in This Report Include Boston Scientific Corporation, Medtronic, Plc, Abbott Laboratories, Biosensors International Group, Lepu Medical Technology, Terumo Medical Corporation, Cook Medical, Shandong JW Medical Systems, Stentys, Abbott Vascular Inc., AlviMedica Medical Technologies Inc., Amaranth Medical, Inc., HangZhou HuaAn Biotechnology Co., Ltd, XTENT, Inc., Cardionovum GmbH, Cordis Corporation, and Kyoto Medical Planning Co., Ltd.

Approval and launch of new products is expected to propel growth of the global drug eluting stents market over the forecast period. For instance, in February 2018, the U.S. Food and Drug Administration approved Medtronic Plc’s Resolute Onyx, a 2.0-mm drug-eluting stent.

R&D and launch of bio-absorbable polymer drug eluting stents is expected to offer lucrative growth opportunities for players in the global drug eluting stents market. For instance, in October 2015, Boston Scientific launched ‘Synergy’, a bio-absorbable polymer drug eluting stent system.

Major players operating in the global drug eluting stents market are focused on approval and launch of new products to expand their product portfolio. For instance, in September 2018, Boston Scientific received the U.S. Food and Drug Administration approval for its ‘Eluvia’ Drug-Eluting Vascular Stent System for the treatment of peripheral artery disease.

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Major players operating in the market are also focused on adopting M&A strategies to expand their product portfolio. For instance, in January 2019, Terumo Corporation acquired Essen Technology (Beijing) Co. Ltd., a China-based medical device company that manufactures drug-eluting stents.

Product is expected to limit growth of the global drug eluting stents market. For instance, in April 2021, Boston Scientific Corporation recalled VICI venous stent System and VICI RDS venous stent system for potential of stent migration.

Globally, as of 5:45pm CEST, 22 October 2021, there have been 242,348,657 confirmed cases of COVID-19, including 4,927,723 deaths, reported to WHO. As of 21 October 2021, a total of 6,655,399,359 vaccine doses have been administered. As per the September 2021 report of the Directorate General of Health Sciences, Ministry of Health and Family Welfare, Government of India, up to 20%–30% of patients hospitalized with severe COVID-19 have evidence of myocardial involvement manifested by elevated troponin levels, venous thrombo-embolism, heart failure and arrhythmias. Such scenario is expected to boost adoption of drug eluting stents.

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Major players operating in the global drug eluting stents market include, Abbott Laboratories, Abbott Vascular Inc., AlviMedica Medical Technologies Inc., Amaranth Medical, Inc., Biosensors International Group, Boston Scientific Corporation, Cardionovum GmbH, Cordis Corporation, Cook Medical, HangZhou HuaAn Biotechnology Co., Ltd., Kyoto Medical Planning Co., Ltd., Lepu Medical Technology, Medtronic, Plc, Shandong JW Medical Systems, Stentys, Terumo Medical Corporation, and XTENT, Inc.

Major players operating in the global drug eluting stents market are focused on adopting partnership strategies to enhance their market share. For instance, in January 2018, Cordis, a part of Cardinal Health, partnered with Medinol (Cordis) for the commercialization of Medinol coronary stents in the U.S.

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