Drug-eluting stents refer to the metal stents that have a coating of drugs such as paclitaxel, everolimus, and also antiproliferative drugs to widen the narrowed blood vessel. The first-generation DES has raised safety issues due to a higher incidence of stent thrombosis, which has further given rise to biodegradable DES to provide better treatment. The ability to release an antiproliferative drug that avoids neointimal proliferation, which reduces the incidence of stent restenosis and prevent the need of restenting. These benefits contributed to the domination of DES in 2016. However, thrombosis, along with vasomotion, is the major issue that needs to be addressed in the DES market. Drug-eluting stents find importance in cardiovascular complications as it is a minimally invasive surgical procedure, broadens the constricted blood vessels, and is useful in prolonging the life of the patient.
Increasing prevalence of cardiovascular diseases, rising aging population, growing acceptance for minimally invasive endovascular surgeries, and good reimbursement facilities are few of the factors driving the growth of the DES market. Increasing healthcare spending, rise in the number of outpatient procedures, and market expansion opportunities in emerging nations are providing an opportunity for the growth of the market. However, alternatives for drug-eluting stents, lack of skilled healthcare professionals, and stringent regulatory approval process are hampering the growth of the market.
The global drug-eluting stents market is estimated to witness a CAGR of 5.4% during the forecast period 2018-2024.
Top Leading Companies are: Abbott Laboratories,Boston Scientific Corporation,Medtronic plc,Johnson and Johnson,MicroPort Scientific Corporation,Biotronik Inc
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Regional Analysis For Drug Eluting Stents Market:
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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New product development, geographical expansion, collaboration, mergers & acquisitions, and pricing strategies are vital undertakings of players in this space. For instance, in May 2018, MicroPort, a Chinese company, acquired the cardiac rhythm management segment of LivaNova, which has made MicroPort a prominent player in the market. In January 2017, St. Jude Medical, one of the major players in the market, was acquired by Abbott Laboratories for a total of $25 billion. In August 2018, Boston Scientific Corp. signed an agreement to acquire Veniti Inc. Recently, the prices of coronary stents in India have been slashed by around 70%, making it affordable to lower-income people. As a result, Abbott and Boston are withdrawing their most advanced products Absorb and Synergy & Promous Premier, respectively. This has helped MicroPort to establish its market easily in India with the targeted drug-eluting stents. The technology of MicroPort is proved to be no less than Abbott and other products by market leaders. This is expected to strengthen its market in India.
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The Reports Help Answer the Following Questions:
- What will be the market size and the growth rate in 2023?
- What are the key factors driving the Drug Eluting Stents Market?
- Who are the key market players and what are their strategies in the Drug Eluting Stents Market?
- What are the key market trends impacting the growth of the Drug Eluting Stents Market?
- What trends, challenges and barriers are influencing its growth?
- What are the market opportunities and threats faced by the vendors in the Drug Eluting Stents Market?
- What are the key outcomes of the five forces analysis of the Global Drug Eluting Stents Market?
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