Global Biodegradable Drug Eluting Stents Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2012-2016 and Forecast 2017-2023

Drug eluting stents are peripheral or coronary stents placed into narrowed peripheral or coronary arteries that slowly release the drug to block cell proliferation. Generally, these devices are made up of metal and remain permanently or removed through further surgery. Metal stents present drawbacks such as predisposition to late stent thrombosis, impairment of imaging with multislice CT, hindrance of surgical revascularization. Biodegradable drug eluting stents are made up of material that dissolves or absorbed in the body, these are temporary, and no need of further surgery to removal of the stent. These are also called as bioresorbable stents or naturally- dissolving stents.

Biodegradable drug eluting stents market growth is driven by growing prevalence of coronary artery diseases, increased geriatric population who are more prone to heart diseases. According to World Health Organization (WHO), cardio vascular diseases are primary cause of deaths globally, an estimated 17.7 Mn people died from cardiovascular diseases in 2015, representing 31% of all global deaths. Of these deaths, an estimated 7.4 Mn were due to coronary heart disease and 6.7 million were due to heart stroke. Furthermore, biodegradable drug eluting stents has various advantages over the traditional metal stents such as no need of further surgery to remove stent, quick restoration of blood flow and faster healing process which are expected to boost the biodegradable drug eluting stents market. However, risk of complications in use and lower awareness about biodegradable stents among healthcare professionals in developing and developed regions are expected to hamper the growth of biodegradable drug eluting stents market over the forecast period.

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Biodegradable drug eluting stents market has been segmented by application, type of material and end user

Based on type of material, biodegradable drug eluting stents segmented into
• Metallic Alloy Stents
• Polymeric Stents

Based on application, biodegradable drug eluting stents segmented into
• Coronary Artery Disease
• Peripheral Artery Disease

Based on end-user, biodegradable drug eluting stents segmented into
• Hospitals
• Cardiac Centers

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Biodegradable drug eluting stents market is expected to grow at notable CAGR during forecasting period. Market players are focusing on product development with extensive R&D, partnerships and collaborations. For instance, in March 2014, Terumo Medical Corporation partnered with Arterial Remodeling Technologies to develop bioresorbable stents with the help of Arterial Remodeling Technologies. Larger players, such as Abbott and Biosensors International, are developing innovative biodegradable stents to reduce the complications post percutaneous coronary intervention procedures. The application segments coronary artery segment expected to account for major market share as eluting stents are considered as ideal for treating coronary artery disease.

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Geographically biodegradable drug eluting stents market has been segmented into following regions Viz. North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. In North America, U.S. represents the largest market owing to higher prevalence of cardiovascular diseases especially coronary artery diseases. Asia Pacific region is expected to register significant growth rate due to increasing awareness about biodegradable drug eluting stents in this region. In Asia region, India, China, Japan are expected to grow at significant rate owing to rise in prevalence of chronic diseases, such as diabetes and cardiac diseases which are expected to boost the demand for biodegradable drug eluting stents over the forecast period.

Some of the players in biodegradable drug eluting stents market include Biosensors International Group (Singapore), Abbott Laboratories (U.S), Medtronic (U.S.), B. Braun Holding GmbH & Co. KG (B.Braun Melsungen) (Germany), Boston Scientific Corporation (U.S.), and Terumo Corporation (Japan) to name a few.

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