Global Drug Eluting Stents Market to Surpass US$ 4,844.6

Seattle, Oct. 27, 2022 (GLOBE NEWSWIRE) — According to Coherent Market Insights, the global Drug Eluting Stents market is estimated to be valued at US$ 2,897.2 million in 2022 and is expected to exhibit a CAGR of 6.6 % during the forecast period (2022-2030).

Key Trends and Analysis of the Global Drug Eluting Stents Market:

Major players operating in the market are focusing on obtaining product approvals, which is expected to drive the market growth over the forecast period. For instance, in November 2022, Boston Scientific, a company developing and manufacturing medical devices, announced the U.S. Food and Drug Administration (FDA) approval of the Ranger Drug-coated balloon developed for treating peripheral artery disease. This drug is efficiently used to transfer the drug into tissue and the results are based on RANGER II SFA pivotal trial.

Furthermore, increasing technological advancements and the development of new products by key players are anticipated to drive the market growth over the forecast period. For instance, in September 2018, MicroPort Scientific Corporation, a healthcare company, developed ‘Firehawk’, a drug-eluting stent that is used for treating patients with coronary artery disease. Firehawk is a new generation Rapamycin target eluting coronary stent system.

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Key Market Takeaways:

The global drug eluting stents market is expected to exhibit a CAGR of 6.6% during the forecast period, due to the increasing prevalence of coronary artery disease. For instance, according to the Journal of American College of Cardiology, prevalent cases of total cardiovascular diseases, which include coronary artery disease, peripheral artery disease, and rheumatic heart diseases, are nearly doubled from 271 million in 1990 to 530 million in 2019 across the globe. Particularly, the global numbers of prevalent cases and deaths due to peripheral artery…