The global drug eluting cardiovascular devices market is anticipated to grow significantly over the forecast period. Cardiovascular diseases refer to any disease of heart or blood vessels. According to the WHO, cardiovascular diseases are the leading cause of death worldwide and the annual deaths caused by these diseases is expected to rise from 17.3 million in 2008 to 23.3 million in 2020. The aforementioned fact coupled with rising patient awareness levels is two of the highest impact rendering drivers of the global drug eluting cardiovascular devices market. Moreover, rising demand for minimally invasive cardiovascular procedures on account of factors such as lower post-surgery complications, quicker patient recovery time and shorter hospital stays associated with these procedures, will serve this market as a significant driver. Some of the drivers of this market include the growing base of the global geriatric population and the rising number of well trained interventional cardiologists.
The future of this market will be fuelled by the introduction of technologically advanced products such as bioabsorbable stents and image guidance systems and the presence of high unmet medical needs in emerging Asian and Latin American countries.
The drug-eluting stents market is expected to dominate the market throughout the forecast period. These stents are coated with anti-cell proliferation drugs and have relatively lower re-stenosis rates associated with them. However, the bioabsorbable stents market is expected to outgrow the drug-eluting stents segment in terms of growth rate. Lowest late stent thrombosis rates associated with these stents and the fact that these stents are not made up of metal and so their presence in the body does not impede the performance of imaging procedures such as MRI and CT are some of the drivers of this market. Also, the successful commercialization of BVS Stent by Abbott Laboratories and the future commercialization of products such as Igaki-Tamai Stent by Igaki Medical, REVA Stent by REVA Medical and Boston Scientific Corporation and Magnesium Bioabsorbable Stent by Biotronik will present this market with high growth opportunities.
The drug-eluting balloons market is also expected to grow at a healthy pace during the forecast period. Drug-eluting balloons carry anti-proliferative drugs and are carried to the targeted site via a catheter. The catheter is placed at the site for a short duration during which the anti-proliferative drug is released for therapeutic purposes.
This research study encompasses a competitive landscape of the drug-eluting cardiovascular devices market. Revenue analysis, product benchmarking, and strategic developments of key market players such as Abbott Laboratories, Boston Scientific Corporation, Cordis Corporation, B. Braun Melsungen AG, Medtronic Inc., Terumo Corporation and others are also provided in this report.
This report, by Grand View Research, takes a closer look at the drug-eluting cardiovascular devices industry, providing a holistic perspective on market dynamics, trends, supply, and demand. The report deep-dives into the market and segments it on multiple levels and providing key insights on a macro as well as micro-level. The study aims at providing granular information, regarding estimates and forecasts for key product segments including drug-eluting stents, drug-eluting balloons, and bioabsorbable stents. The report also provides the same level of information for key regional markets.
This research report analyzes various factors which have been driving and inhibiting the global drug eluting cardiovascular devices market in the past. Also, the report analyzes the impact of each driver and restraint on the market growth, which forms the base for the market forecast. The report also showcases the opportunities available in the market which may act as future drivers for the market.
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With Covid-19 infections rising globally, the apprehension regarding a shortage of essential life-saving devices and other essential medical supplies in order to prevent the spread of this pandemic and provide optimum care to the infected also widens. In addition, till a pharmacological treatment is developed, ventilators act as a vital treatment preference for the COVID-19 patients, who may require critical care. Moreover, there is an urgent need for a rapid acceleration in the manufacturing process for a wide range of test-kits (antibody tests, self-administered, and others). The report will account for Covid19 as a key market contributor.