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Drug-Eluting Stent Market: Size, Share Insights , and Industry Analysis 2033
Drug Eluting Stent Global Market Report 2024
According to The Business Research Company's, The drug eluting stent market size has grown strongly in recent years. It will grow from $7.05 billion in 2023 to $7.63 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to the need for improved treatment options, clinical evidence, regulatory approval, healthcare economics, and guidelines and recommendations.
The drug eluting stent market size is expected to see strong growth in the next few years. It will grow to $10.52 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to an aging population and chronic disease burden, the expansion of indications, healthcare reimbursement policies, global market expansion, and patient-centered care. Major trends in the forecast period include personalized medicine, minimally invasive techniques, emerging healthcare technologies, and next-generation drug formulations.
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Market Drivers and Trends:
The rising burden of coronary heart disease is expected to propel the growth of the drug-eluting stent market going forward. Coronary heart disease (CHD) is a condition where the coronary arteries become narrowed or blocked due to plaque buildup, potentially leading to severe complications such as a heart attack or chest pain. Coronary heart disease is increasing due to sedentary lifestyles, poor diets, aging populations, and heightened awareness. Drug-eluting stents (DES) benefit coronary heart disease by effectively opening narrowed or blocked coronary arteries and releasing medication that helps prevent re-narrowing (restenosis) of the artery. For instance, in May 2024, according to the Centers for Disease Control and Prevention, a US-based governmental organization, the percentage of coronary heart disease in adults aged 18 and over in 2020 was 4.6%, which increased to 4.9% in 2022. The rising burden of coronary heart disease is expected to propel the growth of the drug-eluting stench market.
Companies operating in the drug-eluting stent market are focusing on developing innovative delivery systems, such as the dual-layer balloon, to improve patient outcomes and advance the field of interventional cardiology. A dual-layer balloon in a drug-eluting stent system enhances precision in drug delivery and stent deployment by providing better control and uniform drug application to the arterial wall. For instance, in August 2022, Medtronic Plc, an Ireland-based provider of medical supplies, launched Onyx Frontier, the latest generation of drug-eluting coronary stent systems designed to enhance delivery systems that build upon the acute performance and clinical data from the previous generation of Resolute Onyx DES. The Onyx Frontier DES leverages the same best-in-class stent platform as Resolute Onyx, with a broad size matrix to treat patients ranging from 2.0mm to 5.0mm in diameter. The Onyx Frontier DES incorporates notable design enhancements, such as a groundbreaking dual-layer balloon, reduced crossing profile, and improved catheter flexibility. These improvements yield a 16% increase in deliverability over the prior Resolute Onyx DES generation, all while preserving radial strength.
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Major Key Players of the Market:
Johnson & Johnson Services Inc., Abbott, Medtronic plc, Boston Scientific Corporation, Terumo Corporation, InspireMD Inc., B. Braun Melsungen AG, Cook Group Incorporated, Lepu Medical Technology (Beijing) Co. Ltd., Biotronik, Meril Life Sciences Pvt. Ltd., MicroPort Scientific Corporation, Biosensors International Group Ltd., OrbusNeich Medical Company Limited, Alvimedica Medical Technologies, Hexacath, Elixir Medical Corporation, Translumina GmbH, Cardionovum GmbH, QualiMed Innovative Medizinprodukte GmbH, InSitu Technologies Inc., Acrostak AG, SINOMED Innovation Inc., Svelte Medical Systems Inc.
Drug Eluting Stent Market 2024 Key Insights:
• The drug eluting stent market size is expected to see strong growth in the next few years. It will grow to $10.52 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%.
• Impact Of Coronary Heart Disease On Drug-Eluting Stent Market
• Innovation In Advanced Drug-Eluting Coronary Stents
• North America was the largest region in the drug-eluting stent market in 2023
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