PUNE: High incidence of atherosclerosis diseases will drive drug-eluting stent market growth, globally, as angina, heart attack, stroke, and transient ischemic attack rise and presence of many vendors offering drug eluting stents. To survive in the competitive environment, maintaining the market share is important that will lead to an increase in mergers and acquisitions, sales agreements, and distribution agreements.
The analysts forecast global drug – eluting stent market to grow at a CAGR of 3.45% during the period 2016-2020. According to the Global Drug Eluting Stent Market 2016 – 2020 report, an increase in the incidence of atherosclerosis diseases such as angina, heart attack, stroke, and transient ischemic attack is the primary driver for the growth of the global drug – eluting stent market. A drug – eluting stent is used in the treatment of atherosclerosis diseases. Rise in obesity, excessive smoking, diabetes, alcohol consumption, and unhealthy lifestyle are the major factors that contribute to the increased incidence of atherosclerosis diseases.
In 2015, the Americas was the largest market for drug – eluting stent products as it accounted for close to 41% of the market share. However, the US market is slowly getting saturated and is expected to lose its market share in terms of revenue because of increasing competition and declining prices of drug – eluting stent products.
The global market for the drug – eluting stent is highly fragmented due to the presence of several well-established vendors. The competition is expected to intensify with an increase in product portfolio extensions with next-generation products, technological innovations, and mergers and acquisitions.
The following companies are the key players in the Global Drug – Eluting Stent Market: Abbott Laboratories, Biosensors International Group, Boston Scientific, Medtronic, and Terumo Corporation. Other Prominent Vendors in the market are: Biotronik, Cook Medical, Envision Scientific, Lepu Medical, Meril Life Sciences, MicroPort Medical, Opto Circuits, Shandong JW Medical Systems and STENTYS.
Further, the report states that the declining average selling price of drug – eluting stents is however impeding market growth. The competition in the market has increased with the growing presence of many local vendors. This factor pushes vendors to adopt a competitive pricing strategy that results in the decline in the price of products, affecting the profit margins of global vendors.
Another related report is Global Stent Grafts Market 2015 – 2019 and says this market is expected to post a steady market growth rate of more than 6% by 2019 owing to the growing incidence of aortic aneurysm among the aging population. The market research analyst has estimated the abdominal aortic aneurysm (AAA) stent grafts segment to account for more than 82% of the total market share by 2019. These stent grafts are useful in treating AAA and function by attaching itself to the aorta wall in a spring like fashion.
In this market research report, analysts estimate the Americas to dominate the global market for stent grafts followed by the EMEA and the APAC regions. High incidence of aortic aneurysm in the US is responsible for this region’s high market dominion during the forecast period.
This market is well organized and is highly competitive due to the presence of multiple vendors. The dominant vendors account for a major share of the market during the forecast period and face occasional competition from local manufacturers in various countries.