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Wednesday, May 12, 2021

Hemodialysis and Peritoneal Dialysis Market: Growth, Demand and Key Players to 2027

Hemodialysis (HD) is a medical procedure used to remove wastes from patient’s blood with chronic or acute kidney failure. The waste removal helps to maintain electrolyte balance in patient’s body and prevents accumulation of salts and wastes in blood. The procedure works similar to an artificial kidney by filtering the blood through a device called the hemodialyzer. The duration and frequency of HD are vital factors that impact the treatment quality. A lengthier treatment time may be advantageous, predominantly among patients with substantial volume overload. While standard treatment practices involve dialysis 3 times per week, the possible benefits of repeated treatments are presently being studied. During HD, blood is collected through one of 3 types of vascular access, namely, fistula, graft, or catheter. HD can be performed at a hospital, a dialysis center, or at patient’s home.

The global hemodialysis and peritoneal dialysis market was valued at $15.68 billion in 2019, and is projected to reach $22.16 billion by 2027, registering a CAGR of 6.0%.

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On the other hand, peritoneal dialysis (PD) uses inner lining of abdomen to filter blood when kidneys are not functioning effectively. This procedure is mostly performed at patient’s home and primarily works to remove excess fluid and toxins from patient’s blood. In PD, a catheter is placed in patient’s abdomen and dialysis solution (dialysate) is added to collect and remove waste from the body. Dialysate absorbs toxic substances and fluid from blood, using peritoneum as a filter. Peritoneal dialysis is administered either continuously or intermittently. For patients with low kidney function, continuous PD is recommended by healthcare professionals.

The major factors that impact growth of the hemodialysis and peritoneal dialysis market include increase in number of patients with CKDs and ESRDs, rise in incidences of diabetes and hypertension, and surge in funding for development of new products. In addition, problems accompanying kidney transplantation, rise in number of aged population, and increase in disposable income are estimated to possibly boost the market growth. Besides, on an account of lesser number of matching organ donor availability, dialysis is preferred over kidney transplant in most patient population, which probably fuels the market growth further. However, complications involved in dialysis treatment and uneven reimbursements for dialysis in developing countries are expected to hinder the hemodialysis and peritoneal dialysis market growth.

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The global hemodialysis and peritoneal dialysis market is segmented on the basis of type, dialysis site, modality, product, and region. By type, it is bifurcated into hemodialysis and peritoneal dialysis. The hemodialysis segment is further divided into short-term catheter, chronic catheter, graft, and fistula. By dialysis site, the market is classified into hospitals, clinics & dialysis centers, and home dialysis. By modality, it is categorized into conventional and daily (day time, night time). By product, it is segmented into devices and consumables. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

By type, the hemodialysis segment is the major contributor toward market growth, owing to the maturity of the market and it being the preferred form of approach among healthcare professionals and patients suffering from ESRD. Majority of patients opt for hemodialysis, however, owing to efficient removal of toxic substances and rise in demand for homecare among dialysis patients, peritoneal dialysis is expected to be the fastest growing segment during the forecast period. By dialysis site, most patients prefer to receive dialysis treatments through services provided by dialysis centers making them the largest contributor to the global market. Nonetheless, rise in awareness and surge in demand for home healthcare among dialysis patients is expected to boost the home dialysis segment during the forecast period.

By modality, conventional hemodialysis is more frequently used treatment, however, owing to efficient removal of toxic substances and demand for homecare among dialysis patients, daily dialysis is expected to be the fastest growing segment during the forecast period. By product, the consumable segment is expected to be the fastest growing segment as these products are used frequently and constantly replaced with new ones.

In 2019, Asia-Pacific accounted for maximum contribution to the total revenue generated, owing to high prevalence rate of diabetes and hypertension, presence of high disposable income, and high adoption rate of technologically advanced products. Moreover, presence of large number of dialysis centers in this region and rise in number of patients with chronic renal diseases are expected to boost the market growth.

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The Major Key Players Are:

Fresenius Medical Care AG & Co. KGaA, Baxter International Inc., Nipro Corporation, B Braun Melsungen Ag, Nikkiso Co., Ltd., Becton, Dickinson And Company (C. R. Bard, Inc.), Cook Group, Angiodynamics Inc., Medtronic PLC, and Asahi Kasei Corp.

Key Findings Of The Study

By modality, the conventional hemodialysis segment occupied a major share in 2019 and is expected to maintain the trend throughout the forecast period.
The consumables segment is expected to grow with the highest CAGR during the forecast period.
Hemodialysis segment held a major share in the global market in 2019 and is expected to retain it throughout the forecast period.
Asia-Pacific is expected to be the fastest growing region, during the forecast period.

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Allied Market Research (AMR) is a full-service market research and business -consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Monday, May 10, 2021

Healthcare Payer Solution Market: Recent Industry Trends and Projected Industry Size by 2020-2027

The healthcare payer solution providers support the public and private payers as well as healthcare insurers to manage the claims, member engagement, audits, medical documents, and customer relations. These businesses have dedicated units, which improve the overall health system performance through optimizing care quality; reducing costs as well as improving consumer experience & care provider performance; and leveraging distinctive capabilities in data & analytics, pharmacy care services, population health, healthcare delivery, & healthcare operations. Through all these services, healthcare payer solution providers help their clients to improve their operational efficiency and reduce their operational cost.

The global healthcare payer solution market was valued at $19,409.52 million in 2019, and is projected to reach $41,906.64 million by 2027, registering a CAGR of 10.6% from 2020 to 2027.

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Rise in cost of healthcare system and urge to decrease wasteful spending are the key driving forces of the global healthcare payer solution market. In addition, payers suffer from significant losses due to increase in healthcare frauds, which further boosts the need for healthcare payer solutions, thereby contributing toward the growth of the global market. Moreover, significant increase has been witnessed in health insurance enrolment, which positively impacts the growth of the market.

Furthermore, increase in use of healthcare IT solutions and implementation of various healthcare reforms fuel the growth of the healthcare payer solution market. However, surge in incidences of data breaches and loss of confidentiality and cultural & language barriers are anticipated to hamper the growth of the market. Conversely, potential growth opportunities offered by emerging economies and increase in adoption of AI & analytics are expected to offer remunerative opportunities for the market growth during the forecast period.

The recent outbreak of the COVID-19 pandemic has disrupted the healthcare system of all the worst affected countries, owing to the alarming rise in number of patients diagnosed with COVID-19. It is expected that due to this overburden of COVID-19 on the healthcare system, it will lead to huge losses in administrative operation. The outsourcing partners who are having track record of improved efficiencies in the claim operations, provider network management, medical document management, fraud management, and all other applications are expected to help the payers in the market. In addition,surge in demand for health coverage in emerging markets due to the COVID-19 pandemic and increase in health insurance awareness among previously uninsured patients is likely to boost the growth of the healthcare payer solution market.

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The global healthcare payer solution market is segmented into service, application, end user, and region. On the basis of service, the market is segregated into business process outsourcing (BPO) services, information technology outsourcing (ITO) services, and knowledge process outsourcing (KPO) services.

The applications covered in the study include pharmacy audit & analysis systems, claims management services, fraud management services, computer-assisted coding (CAC) systems, member eligibility management services, provider network management services, payment management services, customer relationship management services, medical document management services, and general ledger & payroll management.

On the basis of end user, the market is bifurcated into private and public end user. Region wise, it is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, the UK, Italy, Spain, France, and rest of Europe), Asia-Pacific (Japan, China, India, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).

By service, the business process outsourcing services segment acquired the major share of the healthcare payer solution market, and is expected to experience rapid growth during the forecast period due to high demand of BPO services. Moreover, surge in investment by key players in cloud computing to strengthen their portfolio is augments the growth of the healthcare business process outsourcing services market.

By application, the claims management services segment dominated the market, owing to urge in bringing down the wasteful spending in healthcare and increase in demand to streamline the process. However, the computer-assisted coding (CAC) systems segment is expected to grow at the fastest rate during the forecast period, due to increase in implementation of ICD-10 code globally.

Region wise, North America acquired a major share of the market, owing to presence of key players that offer healthcare payer solutions in the region and high demand for healthcare payer solutions. However, Asia-Pacific is expected to grow at the fastest rate during the forecast period, due to increase in adoption of healthcare IT solutions and presence of large uninsured population base that offers significant opportunities for the growth of the market.

In addition, emerging economies offer lucrative opportunities for healthcare payer solution providers to expand their business. Furthermore, the constantly evolving healthcare industry drives the growth of the market in the developing economies such as India and China.

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The Major Key Players Are:

UnitedHealth Group Incorporated, McKesson Corporation, HMS Holdings Corp, International Business Machines Corporation, Change Healthcare, Inc., Accenture plc, Cognizant Technology Solutions Corporation, Hinduja Global Solutions Limited, Inovalon Holdings, Inc., and Wipro Limited.

Key Findings Of The Study

Depending on service, the business process outsourcing services segment accounted for a share of nearly 52.2% in the healthcare payer solution market in 2019.
Region wise, Asia-Pacific is anticipated to grow with the highest CAGR of 11.3% throughout the forecast period.
North America accounted 32.4% of the global healthcare payer solution market in 2019.
On the basis of application, the claims management services segment accounted for a share of 24.4% in the healthcare payer solution market in 2019.

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Autoinjectors Market Size, Global Trends, Business Profiles and Forecast to 2027

Autoinjector is a medical device, which is used to administer a particular dose of drug into the body. These devices are easy to use, are cost effective, and can be used by patients or even by untrained professionals. These devices are preferred over conventional devices as they are efficient, with improved and technologically advanced drug delivery mechanisms. Autoinjectors are used in several applications such as rheumatoid arthritis, anemia, migraine, multiple sclerosis, and other therapies.

The global autoinjectors market is expected to reach $5,732.6 million by 2027, registering a CAGR of 18.1% from 2020 to 2027, in terms of value.

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The demand for autoinjectors is projected to experience substantial growth in the future, owing to the rise in anaphylaxis cases globally. The increase in R&D activities by key companies to establish new technology based autoinjectors is also anticipated to fuel the demand for autoinjectors during the forecast period. However, alternate treatment options such as general injections and tablets are likely to hinder the market growth during the forecast period. The availability of low-cost biosimilars in combination with autoinjectors at lower price due to loss of patent is projected to provide industry players with remunerative incentives.

Depending on type, the market is categorized into disposable and reusable autoinjectors. The disposable autoinjectors segment dominated the global market in 2019, and is anticipated to continue this trend during the forecast period. The key factors such as rise in prevalence of anaphylaxis and rheumatoid arthritis and further increasing patient preference for autoinjectors drives the growth of this treatment segment.

On the basis of application, the market is categorized into rheumatoid arthritis, multiple sclerosis, anaphylaxis, and others. The anaphylaxis segment held a dominant position in the market, accounting for about 38.5% share of the global autoinjectors market in 2019. As per the Asthma and Allergy Foundation of America, allergic conditions are the most common health issues affecting children in the U.S. According to the European Academy of Allergy and Clinical Immunology (EAACI), allergy is the most common in Europe. In 2018, more than 150 million Europeans suffered from chronic allergies and it is expected that half of the European population would be affected by 2025. According to the Rheumatoid Arthritis Support Network, in 2018, the rheumatoid arthritis affected over 1.3 million American and as much as 1% of the global population. Furthermore, rise in occurrences of rheumatoid arthritis to drive the demand for autoinjectors.

By end user, the market is categorized into home care settings and hospitals & clinics. The home care settings segment held a dominant portion in the market, accounting for about 62.8% share of the global autoinjectors market in 2019.Most autoinjectors are used for self-administration of drugs and re less frequently recommended for hospital use to further avoid rise of infections.

North America accounted for the largest share in the global autoinjectors market. Asia-Pacific is expected to witness highest growth rate for throughout the forecast period. Rise in cases of anaphylaxis; rheumatoid arthritis; and other diseases such as anemia and migraine; and further increase in technological advancements by companies are anticipated to drive the overall autoinjectors market growth.

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The major key players profile Are:

Amgen, Antares Pharma, Becton Dickinson and Company, Eli Lilly and Company, Johnson and Johnson, Mylan N.V., Novartis AG, SHL Medical, Teva Pharmaceutical Industries Ltd and Ypsomed AG.

Other Key players Are:

Biogen Idec, Owen Mumford, Consort Medical, Abbvie, and Gerresheimer.

Key Findings Of The Study:

By type, the disposable autoinjectors segment accounted for a $1,021.7in the global autoinjectors market in 2019.
By application, the anaphylaxis segment account for the largest share and the rheumatoid arthritis segment is anticipated to grow with the highest CAGR of 18.7% throughout the forecast period.
By end user, home care settings accounted for the largest share and expected to dominate the market with a CAGR of 18.3% during the forecast period.
North America accounted for the largest share in the global autoinjectors market. Asia-Pacific is expected to witness highest growth rate for throughout the forecast period

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Friday, May 7, 2021

Hormone Replacement Therapy Market – Share and Growth Factors Impact Analysis 2020-2027

Hormone replacement therapy (HRT) involves the administration of synthetic estrogen hormone, human growth hormone, thyroid hormone, testosterone hormone, and progestogen hormone to replace depleting hormone levels of male and female and thus alleviate symptoms of menopause, hypothyroidism, male hypogonadism, and growth hormone deficiency.

The global hormone replacement therapy market was valued at $31.1 billion in 2019, and is projected to reach $46.5 billion by 2027, registering a CAGR of 5.1% from 2020 to 2027.

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The key factors that drive the growth of the global hormone replacement therapy market comprise rise in prevalence of menopausal disorder, increase in awareness about post-menopausal signs & the treatment options available for women, and new product launches of hormone replacement therapy. For instance, according to the National Menopause Foundation, in the U.S., approximately 1.3 million women become menopausal each year between the ages of 51 and 52. About 5% of women experience early menopause between the ages of 40 and 45. Additionally, 1% of women experience premature menopause before the age of 40, due to permanent ovarian failure that may be associated with sex chromosome abnormalities.

By therapy type, the global hormone replacement therapy market is categorized into estrogen hormone replacement therapy, human growth hormone replacement therapy, thyroid hormone replacement therapy, testosterone hormone replacement therapy, and progestogen hormone replacement therapy. The estrogen hormone replacement therapy segment led the market in 2019, due to higher use of estradiol products in women post menopause or hysterectomy to help them maintain the hormonal balance. On the other hand, human growth hormone replacement therapy is expected to grow at fastest rate owing to increase in incidence of growth hormone deficiency (GHD) or dwarfism or pituitary dwarfism, majorly among infants. For instance, according to a survey organized by the WHO, about 15 million newborns are born premature and approximately 85% of these infants are not fully developed.

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On the basis of route of administration, the market is segregated into oral, parenteral, and others. The oral segment dominated the market in 2019, and is anticipated to grow faster during the forecast period. This is attributed to increase in preference for oral HRT products and consumption accordingly. Furthermore, it enables few patients to reduce the need to visit clinics for treatments, thereby decreasing healthcare cost.

Depending on indication, the market is categorized into menopause, hypothyroidism, male hypogonadism, growth hormone deficiency, and others. The menopause segment spearheaded the market in 2019. This is attributed to rising post-menopausal women population and widening menopausal window from 40 to 55 years. For instance, as per the National Menopause Foundation, in the U.S., approximately 1.3 million women become menopausal each year between the ages of 51 and 52. Thus, by 2030, population of menopausal and postmenopausal women is projected to increase to 1.2 billion globally.

Region wise, the global hormone replacement therapy market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America dominated the market in of revenue in 2019, owing to increase in launches of various generic products of hormone replacement therapy by manufacturers, surge in target population, and innovations in the drug delivery systems along with development of new formulations. On the other hand, the market in Asia-Pacific is expected to register the highest CAGR in terms of revenue during the forecast period, owing to surge in awareness about hormone replacement therapy, rise in prevalence of diabetes population, and increaser in focus of healthcare providers on reducing hormonal deficiencies in China, India, and Japan.

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The Major Key Players Are:

Abbott Laboratories, Bayer AG, Eli Lilly and Company, F. Hoffmann-La Roche Ltd. (Genentech, Inc.), Hisamitsu Pharmaceutical Co., Inc. (Noven Pharmaceuticals, Inc.), Merck KGaA, Mylan N.V. (Viatris Inc.), Novartis International AG, Novo Nordisk A/S, and Pfizer Inc.

Key findings of the study

Depending on therapy type, the estrogen hormone replacement therapy segment led the hormone replacement therapy market in 2019.
By route of administration, the parenteral segment held the largest value share of the hormone replacement therapy market in 2019, and is expected to maintain its dominance over the study period.
As per indication, the menopause segment dominated the market in 2019, and is anticipated to continue this trend during forecast period.
Region wise, North America occupied substantial revenue share of the hormone replacement therapy market in 2019, whereas Asia-Pacific is anticipated to grow with the highest CAGR during the forecast period.

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Bioprocess Validation Market Size Observe Significant Surge During 2020-2027

Bioprocess validation is a method of building documentary evidence demonstrating a process, activity or procedure, carried out in production or testing maintains the desired level of compliance at all stages. Validation is an act of documenting and demonstrating that any process, procedure, and activity will consistently produce the required results. The production process within the pharmaceutical industry undergoes a series of recalls, reworks, and product failures. This factor necessitates the presence of a system to evaluate the viability of an experiment or product development channel.

The bioprocess validation market size was valued at $0.26 billion in 2019 and is projected to reach $0.41 billion by 2027, registering a CAGR of 5.5% from 2020 to 2027.

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Furthermore, pharmaceutical manufacturing is now being outsourced to third party service providers for higher production yields. Disposable technology is being widely used in drug development for bringing down production costs. Disposable technology is facilitating the full integration of pharmaceutical production for consistent products while consuming fewer resources. This has made it necessary to establish an ongoing monitoring process that ensures strict adherence to regulatory compliance. In addition, Pharmaceutical companies are increasingly outsourcing research activities to academic and private contract research organizations (CROs) as a strategy to stay competitive and flexible in a world of exponentially growing knowledge, increasingly sophisticated technologies and an unstable economic environment.

The bioprocess validation market is positively impacted by the COVID-19 pandemic. Several pharmaceutical and & biotechnological companies use validation services for at least some of their bioprocessing. The bioprocessing sector is experiencing operational and personnel-related problems, but often these are related to increased activity. Essentially, all bioprocessing-related industrial activities are continuing largely unaffected in terms of operations and output. Many bioprocessing processes are being leveraged for the development of vaccines against coronaviruses. For instance, many companies, including developers and suppliers of services are increasing their pandemic-related R&D and manufacturing. Many suppliers of both equipment and services have begun increasing their activities in response to this increase, and to projected demand. The coronavirus disease could affect the global economy through three channels such as direct impact on production, supply chain & market disruption, and financial impact on firms & financial markets. In addition, this pandemic has affected the effect on production and import & export of finished goods, due to shutdown in various COVID-19-affected countries.

The bioprocess validation market witnesses rapid growth due to stringent safety & quality regulations, increase in demand for biopharmaceuticals, and surge in demand for outsourcing bioprocess validation. In addition, increase in life science R&D expenditure is expected to fuel the bioprocess validation market growth. However, issues related to extractables are expected to impede this growth. On the contrary, patent expiry of bio-product is expected to present various opportunities for the market expansion.

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In terms of test type, the extractables testing services segment dominated the bioprocess validation market in 2019. The large share of this segment can be attributed to the presence of regulatory mandates and guidelines regarding the testing of extractables; increasing outsourcing of testing services by biopharmaceutical manufacturers; growing requirement for product safety, identity, purity, and quality; and increasing risk of product adulteration.

The pharmaceutical & biopharmaceutical companies segment is projected to grow at the highest CAGR of 5.8% during the forecast period, owing to increase in production of biopharmaceuticals & consistent increase in the number of impurities to be checked along with the stringency of standards & regulations regarding the quality and validity of bioprocesses involved in the production.

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The Major Key Players Are:

Cobetter Filtration Equipment Co., Ltd, Danher Corporation, Merck KGaA, Porvair Plc, Sartorius, Thermo Fisher Scientific, Inc., Meissner Filtration Products, Inc, Toxikon Corporation, Almac Group, and Biozeen.

Key findings of the study

By test type, the extractables testing services segment occupied 39.7% share of the bioprocess validation market in 2019.
By end user, the pharmaceutical & biotechnology companies segment occupied 69.0% share of the bioprocess validation market in 2019.
By region, Asia Pacific is anticipated to experience growth at 7.1% CAGR during the forecast period.

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Thursday, May 6, 2021

Asia-Pacific Ophthalmic Diagnostic Devices Market will Reflect Significant Growth Prospects during 2020-2027

Asia-Pacific ophthalmic diagnostic devices market size was valued at $1,553.80 million in 2019 and is projected to reach $2,182.83 million by 2027, registering a CAGR of 4.3% from 2019 to 2027.

Ophthalmology is a branch of medical science that deals with the structure, function, and various eye diseases. It is used to identify ocular defects or deficiencies and treat eye disorders. Ophthalmic devices are medical equipment designed for diagnosis, surgery, and vision correction. Whereas, the ophthalmic diagnostic devices are gaining increased importance and adoption due to surge in prevalence of various ophthalmic diseases such as glaucoma, cataract, and other vision-related issues in the emerging countries.

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The virus that causes COVID-19 is from the family of viruses called Coronaviridae. This is caused by a contagious RNA virus termed as severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The pandemic has impacted the ophthalmology screenings due to lockdown. The ophthalmology surgeries and diagnostic screenings are postponed due to COVID-19 and are done through teleophthalmology services such as an app, phone calls, emails, and messages.

The growth of the Asia-Pacific ophthalmic diagnostic devices market is majorly driven by rise in adoption of digital devices, including laptops, smartphones, and computers, e-readers, rapid technological advancements in ophthalmic diagnostic devices, and surge in awareness related to devices used in ophthalmology. In addition, rise in elderly population in China, Japan, and India as well medical tourism in the countries further drives the growth of the market. However, low awareness regarding eye-related diseases and dearth of skilled professionals are expected to hamper the growth of the market. Also, emerging countries such as China, India and other Asia-Pacific countries possess high growth potential, owing to the improving healthcare infrastructures in these countries.

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The Asia-Pacific ophthalmic diagnostic devices market segment is sub segmented into refractors, corneal topography systems, retinal ultrasound systems, fundus camera, ophthalmoscopes, optical coherence tomography systems, perimeters, slit lamps, and tonometer. The perimeters segment is expected to register a CAGR of 5.1% from 2019 to 2027.

Japan accounted for the largest share of revenue in 2019, and is anticipated to maintain its dominance from 2019 to 2027, due to high expenditure on R&D, presence of local and global players & their product availability, and rise in elderly population in the country. However, India is expected to register highest CAGR during the forecast period, owing to the increase in prevalence of eye diseases and surge in medical tourism. In addition, cost-effective diagnosis of ophthalmic disorder in the country further fuels the growth of the Asia-Pacific ophthalmic diagnostic devices market.

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The Major Key Players Are:

Carl Zeiss Meditec AG, Halma, plc., Topcon Corporation, Essilor International S.A., Alcon Vision, Nidek Co., Ltd., Haag-Streit Holding AG, Ametek, Inc., Optovue Corporation, and Coburn Technologies, Inc.

Key Findings Of The Study:

By product, the optical coherence tomography systems segment occupied around largest share of the Asia-Pacific ophthalmic diagnostic devices market in 2019.
By fundus camera, the non-mydriatic Fundus Cameras hold the largest share in 2019.
The perimeters segment is expected to register 5.1% CAGR during the forecast period.
India ophthalmic diagnostic devices market is anticipated to experience highest CAGR from 2019 to 2027.

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Drug-Eluting Stents Market to Set Phenomenal Growth in Key Regions by 2027

Drug-eluting stent is a tube like, semi-rigid device made up of metal and coated with a medication. The medication is slowly released to aid prevention of reoccurrence of arterial blockage. Drug-eluting stents are of different types such as first, second, and third-generation drug eluting stents. First generation drug eluting stents considerably decrease the risk of in-stent restenosis condition observed with bare-metal stent (BMS). Second generation drug-eluting stents can decrease risk and rate of one year stent thrombosis. Third generation drug-eluting stent is widely used in percutaneous coronary intervention.

The global drug-eluting stents market was valued at $6,382 million in 2019, and is projected to reach $8,777 million by 2027, registering a CAGR of 8.7% from 2020 to 2027.

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Rise in prevalence of cardiovascular diseases such as congenital heart disease, abnormal heart rhythms, heart valve disease, heart attack, and heart failure is expected to drive growth of the market. In addition, technological advancements in drug eluting stents design and stent delivery systems is another major factor that boosts the market growth. Moreover, rise in number of product approvals and favorable reimbursement policies, coupled with high incidence rate of artery diseases also fuel growth of the drug-eluting stents market. However, stringent government regulations for product approval restricts growth of the market. Conversely, growth potential in emerging economies is expected to create lucrative opportunities for the market growth during the forecast period.

COVID-19 is a large family of viruses that causes illness ranging from common cold to more severe respiratory diseases. The COVID-19 pandemic has affected drug-eluting stents production and import & export of raw material and finished goods, owing to shutdowns in various COVID-19-affected countries. Temporary disruptions of inputs or production might stress some companies, particularly those with inadequate liquidity. Moreover, delayed shipments & production schedules create financial problems for companies with heavy debts. This, in turn, has limited impact of COVID-19 on the market.

The global drug-eluting stents market is segmented on the basis of coating, application, end user, and region. On the basis of coating, the market is divided into polymer-based coating and polymer free coating. Polymer-based coating segment is further bifurcated into biodegradable and non-biodegradable. The polymer free coating segment is further segmented into microporous surface, microstructured surface, slotted tubular surface, and nanoporous surface.

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The polymer free coating segment dominated the global market in 2019, and is anticipated to continue this trend during the forecast period. Key factors such as high adoption of DES, owing to lower in-stent restenosis rates, quicker drug eluting rate, and higher drug loading capacity of nanoporous surfaces propel the market growth. Moreover, polymer free coating offers advantages such as inflammatory issues produced by polymers used in stents can be avoided by excluding polymer coating completely and releasing anti-proliferative drug directly from the stent surface.

By end user, the market is divided into hospitals, ambulatory surgical centers, and others. The hospitals segment accounted for maximum market revenue in 2019, and is anticipated to maintain its dominance during the forecast period. This is attributed to preference among individuals for hospitals, owing to availability of advanced equipment for heart surgery as compared to ambulatory surgical centers and other end users and development of new hospitals in developing countries.

North America accounted for the largest share of the global drug-eluting stents market in 2019, and is expected to remain dominant throughout the forecast period. This was attributed to higher adoption of drug-eluting stents, higher number of R&D activities to develop novel drug-eluting stents, large number of target population with higher health awareness, availability of trained medical professionals, and supportive reimbursement policies in the healthcare system. Asia-Pacific is expected to experience highest growth rate during the forecast period, majorly owing to growth in prevalence of cardiovascular diseases and rise in geriatric population.

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The Major Key Players Are:

Abbott Laboratories, Alvimedica, B. Braun Holding GmbH & Co. KG, Biosensors International Group, Biotronik Inc., Boston Scientific Corporation, Cook Group (Cook Medical), Medtronic Plc, Stentys SA, and Terumo Corporation.

Key Findings Of The Study

By coating, the polymer free coating segment held the largest market share in 2019, and is expected to remain dominant throughout the forecast period.
On the basis of application, the coronary artery disease segment held the largest market share in 2019, and is expected to remain dominant throughout the forecast period.
On the basis of end user, the hospitals segment held largest market share in 2019, and is expected to remain dominant throughout the forecast period.
Region wise, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 10.0% during the forecast period.

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