Drug-Eluting Device Market is Forecasted to Reach US$ 4.9 Billion in 2030, Says Stratview Research

Stratview Research, a global market research firm has launched a report on the global Drug-Eluting Device Market which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Market Statistics:

Market Size in 2023: US$ 3.2 billion

Market Size in 2030: US$ 4.9 billion

Growth (CAGR): 5.9% during 2023-2030

Leading Application Type: Coronary stents

Leading Degradability Type: Biodurable

Leading End-User Type: Hospitals

Leading Region: North America

Forecast Period: 2024-2030

Trend Period: 2018-2022

Base Year: 2023

Number of Segments Covered: 4

Number of Tables & Graphs: 100+

Country-Level Market Assessment: 20

Segment Insights on the Drug-Eluting Device Market:

The global Drug-Eluting Device Market is segmented based on application type, degradability type, end-user type, and region.

Based on application type – The global drug-eluting device market is segmented into coronary stents, balloons, and periphery stents. Coronary stents are expected to remain dominant, whereas balloons will be the fastest-growing application type in the market during the forecast period. Coronary stents are used mainly for coronary artery diseases and there is rising demand for these stents due to prevalent use in preventing restenosis. Balloons are new products in the current market and are in the early stages of development in the market. These products show better results in the prevention of restenosis for coronary diseases when compared to stents.

Based on degradability type – The market is segmented into biodurable and bioresorbable. Biodurable is expected to remain dominant in the market and bioresorbable will be the fastest growing degradable type in the market during the forecast period. The present biodurable drug-eluting devices are highly dominant due to the biocompatibility of the biodurable polymers and are replacing the traditional stents and implants. Bioresorbable drug-eluting devices' strong growth is due to their biodegradable materials, which will remove the need for a second surgery for removing stents.

Based on end-user type – The market is segmented into hospitals and ambulatory surgical centers. Hospital end-users are expected to be dominant in the market, whereas ambulatory surgical centers will be the fastest-growing end-users during the forecast period. The hospital remains a key end-user market with increasing angioplasty and increasing implant surgeries in the hospitals. Also, stents and balloons are mostly used in hospitals. Ambulatory surgical centers' strong growth is due to rising demand for urgent treatment.

To know the most attractive segments, click here for a free sample of the report:

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Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that North America is expected to remain the largest market, whereas Asia-Pacific will be the fastest growing for drug-eluting devices during the forecast period. This growth outlook is majorly attributed to the following–

• Driven by the market's high maturity and awareness of drug-eluting products. The region has high approval rates as well as the presence of multiple leading manufacturers in the region. Also, the high per-capita income of people in this region will garner considerable demand for these high-cost products.
• Asia-Pacific will grow the fastest due to increasing coronary diseases, especially in countries like China and India where stent requirements are very high. The region has shown an increased focus on healthcare in the past few years, especially after COVID-19.

Drug-Eluting Device Market Drivers:

Some of the key drivers listed in the report are given below.

• Multiple drivers are currently driving the market for drug-eluting devices. Some of the key drivers in the market are increasing cardiovascular diseases across the globe, rising surgical procedures in the medical industry, growing healthcare expenditure by developing countries, and an increasing aging population.

Top 10 Companies in the Drug-Eluting Device Market :

Stratview Research has identified the following companies as the top market players:

·      Boston Scientific Group

·      Medtronic Plc

·      Abbott Laboratories

·      Becton, Dickinson and Company

·      Philips Group

·      Cordis Corp

·      Terumo

·      Lepu Medical

·      Biotronik SE

·      Orbus Neich

What Unique Insights Does This Report Offer?

This report provides comprehensive insights into the data center liquid cooling market, answering critical questions like

-      How big is the sales opportunity?

-      Which regions offer the best sales opportunities?

-      Which are the most attractive market segments?

-      Which are the top players and their market positioning?

-      How complex is the business environment?

-      What are the factors affecting the market?

For Customization or Any Other Queries, get in Touch with our industry experts at sales@stratviewresearch.com

Related Reports:

• Non-Drug-Eluting Device Market
• Implantable Drug Delivery Devices Market 

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Stratview Research is a global market research and consulting firm that highly specializes in IT & telecom, aerospace & defense, chemicals, and a few other industries.

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