Drug Eluting Stent Market Analysis, Industry, opportunities, Challenges, & Trends Report 2023-2030

The global Drug Eluting Stent market, valued at USD 7.80 billion in 2023, is projected to achieve a remarkable growth rate, reaching USD 14.98 billion by 2031, expanding at a CAGR of 8.5% during the forecast period from 2024 to 2031. This robust growth is driven by advancements in medical technology, increasing prevalence of cardiovascular diseases, and rising demand for minimally invasive procedures.

Key Players

The major key players are Abbott Laboratories, Boston Scientific Corporation, Medtronic, Cordis Corporation (a Johnson & Johnson company), Terumo Corporation, Biosensors International Group, Ltd, Biotronik SE & Co. KG, St. Jude Medical, Inc. and others.

Market Analysis

The Drug Eluting Stent market is witnessing significant expansion due to the rising incidence of cardiovascular disorders globally. Technological innovations and the introduction of next-generation DES with improved efficacy and safety profiles are further propelling market growth. Moreover, increasing healthcare expenditure and growing awareness about the benefits of DES over traditional stents are contributing to market expansion.

KEY SEGMENTS

By Type

• Coronary Stenting

• Peripheral Stenting

By Scaffold

• Cobalt-Chromium

• Platinum-Chromium

• Nitinol

• Others

By Drug

• Sirolimus

• Paclitaxel

• Zotarolimus

• Everolimus

• Others

By End User

• Hospitals

• Specialty Clinics

Impact of the Russia-Ukraine Conflict

The ongoing Russia-Ukraine conflict has disrupted supply chains and affected the global healthcare industry, including the DES market. The geopolitical tensions have led to increased costs of raw materials and manufacturing, causing a ripple effect on the pricing and availability of drug eluting stents. Additionally, economic sanctions and trade restrictions have further complicated market dynamics, potentially slowing down market growth in affected regions.

The Impact of Economic Slowdown

The global economic slowdown has posed challenges for the DES market, with reduced healthcare budgets and delayed elective procedures impacting demand. However, the critical nature of cardiovascular treatments has ensured sustained demand for DES, albeit at a moderated growth rate. Economic uncertainties have led to a cautious approach among healthcare providers and patients, influencing purchasing decisions and impacting market growth to some extent.

Regional Analysis

• North America: Dominates the DES market, driven by high healthcare expenditure, advanced healthcare infrastructure, and a significant patient pool with cardiovascular diseases. The U.S. is the largest contributor to the regional market.
• Europe: Holds a substantial share due to the presence of key market players, high adoption rate of advanced medical technologies, and increasing geriatric population.
• Asia-Pacific: Expected to witness the highest growth rate during the forecast period, attributed to improving healthcare infrastructure, rising healthcare expenditure, and increasing awareness about cardiovascular health.
• Latin America and Middle East & Africa: Show promising growth potential with improving healthcare systems and increasing investments in healthcare infrastructure.

Key Takeaways

• The global Drug Eluting Stent market is set to nearly double in value by 2031, reaching USD 14.98 billion.
• Technological advancements and rising prevalence of cardiovascular diseases are key growth drivers.
• The Russia-Ukraine conflict and global economic slowdown present challenges but do not significantly derail market growth.
• North America remains the largest market, while Asia-Pacific emerges as the fastest-growing region.
• Continuous innovation and strategic market expansions by key players are crucial for sustained market growth.

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