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Drug Eluting Stents Market, By Application Type, Product Type, and Geography - Insights, Size, Share, Opportunity Analysis, and Industry Forecast till 2025
Drug eluting stents are small expandable tubes made of wire that are inserted into the coronary arteries of patients with atherosclerosis. Stent helps to hold the artery open to release a drug that prevents blockage occurring in artery and improves the blood flow. This stent placement are generally carried out in the procedure of coronary angioplasty. The drug eluting stents types are bare metal coronary artery stents, coronary artery restenosis, coronary artery stents, coronary revascularization, paclitaxel eluting coronary artery stents, sirolimus eluting coronary artery stents, target vessel revascularization. Drug eluting stents mostly consist of 3 parts the sent platform, polymer coating which has 1 to 3 layers of polymers cane be coated and the drug is the mainly to inhabit neointimal growth.
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Continuous rise in cardiovascular disease cases is expected to support the demand of drug eluting stents which in turn support the growth for drug eluting stents market in near future. Unhealthy dietary habits, lack of exercise, sedentary lifestyles are the major factors resulting in increased prevalence of cardiovascular disease. According to the World Health Organization (WHO) it was estimated in 2015 around 17.7 million people died from CVDs globally among this death around 7.4 million were coronary heart disease and 6.7 million were due to heart stroke.
As per the American Heart Association in the U.S. nearly 801,000 deaths occurred due to cardiovascular in 2016 and around 92.1 million American adults are living with some form of cardiovascular disease from this are 47.7% of female and 46% are males. Furthermore coronary heart disease leads the 45.1% percent death in the U.S, which includes heart failure 8.5%, high blood pressure 9.1% arteries diseases 3.2% and in 2013 around 31% of global deaths was occurred due to cardiovascular diseases.
The global drug eluting stents market was valued at US$ 5912.9 million in 2016 and is expected to witness a robust CAGR of 4.7% during the forecast period (2017 – 2025)
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Rise in chronic disease around the globe and increase in geriatric population expected to support the growth of drug eluting stents market over the forecast period
Asthma is one of the major chronic disease which in turn can cause to heart failed thus this demands in the growth of drug eluting stents market. According to the World Health Organization (WHO) around 235 million people are suffering currently from asthma, it was estimated around 383,000 deaths occurred due to asthma in 2015 and the strong risk factor for asthma are inhaled substances and particles that causes allergic reaction which are exposed in environment. The fundamental causes of asthma can be tobacco smoke, chemical irritants at the workplace and air pollution.
As per the National Institute on Aging the world’s geriatric population in 2015 was around 8.5% and it may rise around 17% by 2050. Whereas according to the United States Census Bureau in the U.S around 44.7 million older population was estimate in 2013 and it may rise around 98.2 million by 2060. This growth of geriatric population may contradict to various diseases such as coronary diseases, and hence will rise the demand for the growth of drug eluting stents market in the future near.
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The major key players of drug eluting stents market are Boston Scientific Corporation, Medtronic, Inc., Abbott Laboratories, Biosensors International Group, Biotronik, 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 KYOTO MEDICAL PLANNING Co., Ltd.
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