Drug-Eluting Stents: A Global Strategic Business Report
San Jose, California (PRWEB) May 14, 2012
Follow us on LinkedIn – Drug-Eluting Stents (DES) basically evolved as a substitute to surgical treatment by way of drastically lowering the rate of repeated hospitalization. A breakthrough technology in the area of interventional cardiology, drug-eluting stents are designed to reduce restenosis, thereby reducing the requirement for repeated revascularization. Extensive randomized studies are being conducted to ascertain the capability of these devices in chronic patients, particularly those having diabetes and severe cardiac blockages.
Until recently, the global acceptance of drug-eluting stents was largely uninspiring. Lesser reimbursement levels, limited resources of national healthcare organizations in regions other than the United States, arduous regulatory framework, high product costs, and inflexible healthcare systems are some of the important issues that were in a way withholding the market growth of the industry. However, the scenario appears to be gradually changing, with DES efficiency and decline in prices being major reasons for the pickup in the overall market growth. Growing global acceptance of drug eluting stents (DES) as a feasible therapy is primarily fuelling growth in its adoption. Reimbursement for even high-price stents in the US market, make these products accessible to a large section of target patient population, thereby increasing their sales. Increasing adoption of social security schemes, coupled with the robust economic growth in Asia, is also fuelling market growth. Subsequently, a greater number of patients are presently showing increased preference to DES as a means to improve quality of life.
The global drug eluting stent market represents a dynamic market, which has witnessed enormous swings in fortunes since the introduction of first Drug-eluting stent (DES) in 2002. The market witnessed a massive increase in revenues in 2004 and sustained significant growth until 2007. Following a disastrous year in 2007, the global market for drug eluting stents recovered sizeably in 2008. Despite a decline in average prices of stents, value growth mounted in 2008 owing to an increase in procedural volume as well as penetration levels. However, the global recession that began in late 2008 had once again changed industry fortunes, with markets worldwide witnessing sales decline in 2009. The impact of the recession was substantial in the market that was already reeling with declining prices due to increasing competition in the market. Post recession, the DES market recovered marginally in 2010, and is expected to post moderate growth over the following years during the analysis period, largely due to the declining prices of drug eluting stents. However, growing adoption rate of DES in treating Coronary Artery Disease, is expected to provide the much needed stimulus to the marketplace, in the years to come. Moreover, the fading impact of economic recession and greater approval of social security schemes in the Asian and European regions is expected to further spur the demand for DES.
The United States represents the largest market for drug-eluting stents worldwide, as stated by the new market research report on Drug-Eluting Stents. Higher repayment rates by the Medicare and Medicaid as well as private third-party payers were major market drivers, leading to the immediate acceptance of DES in the country. Europe trails the US in terms of sales of drug-eluting stents. Declining prices of stents are expected to be the bone of contention for manufacturers of drug-eluting stents, especially in Europe. Prices of drug-eluting stents in Europe are expected to tumble due to rising pressure from reimbursement groups, in addition to the increasing market competition. Growth-wise, Rest of World is projected to be the fastest growing regional market for drug-eluting stents during the analysis period.
Major players profiled in the report include Abbott Vascular, Boston Scientific Inc., Biosensors International Pte Ltd., Medtronic Inc., MIV Therapeutics Inc., among others.
The research report titled “Drug-Eluting Stents: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the drug-eluting stents market, current market trends, key growth drivers, performance of different stents, recent product introductions, recent industry activity, and profiles of major/niche global as well as regional market participants. The report provides annual sales estimates and projections for Drug-Eluting Stents market for the years 2009 through 2017 for the following geographic markets - US, Japan, Europe, and Rest of World. Also, a six-year (2003-2008) historic analysis is provided for additional perspective.
For more details about this comprehensive market research report, please visit –
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Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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