Given the growing number of patients suffering from cardiovascular disorders and the high associated financial burden, cardiovascular drug eluting stents have emerged as a safe and efficient novel drug delivery device to assist in providing effectual treatment.
Roots Analysis has announced the addition of “Novel Cardiovascular Drug Delivery Devices Market, 2022-2035” report to its list of offerings.
In order to prevent the critical effects of vessel narrowing and plaque buildup in arteries, various coronary interventional devices are being used; cardiovascular stents have emerged as one of the most preferred solutions to mitigate the aforementioned concerns. Traditionally, bare-metal stents were used extensively to open the blocked passages and restore adequate blood flow to the heart. However, in recent years, a shift in preference has been observed towards the use of drug-eluting stents, which are coated with a polymer carrying an antiproliferative drug.
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Key Market Insights
Over 90 cardiovascular drug eluting stents are presently available in this market space
About 65% of these devices are coated with sirolimus drug, followed by those coated with everolimus and paclitaxel. Further, more than 70% of the stents are manufactured by using cobalt alloy. It is interesting to mention that stent length of more than 85% of the devices is in the range of 31 mm to 50 mm.
~40 players are currently be engaged in the production of cardiovascular drug eluting stents
Majority of the players engaged in this domain are large firms (501-10,000 employees, 41%), followed by mid-sized players (51-500 employees, 26%), very large players (10,000+ employees, 18%) and small (2-50 employees, 15%) companies. Additionally, most of the service providers (38%) are based in Asia, followed by those having headquarters in Europe and North America.
Over 70 novel therapeutics are being developed to target a wide range of cardiovascular diseases
Majority (50%) of the therapies targeting cardiovascular disorder are currently in early stages of development (discovery and preclinical). It is also worth mentioning that over 65% of the drug candidates targeting cardiovascular diseases are gene therapies.
More than 50 players are engaged in offering novel cardiovascular-based services / solutions
Over 60% of the players offering such services / solutions are based in North America. It is interesting to mention that this domain is dominated (more than 40%) by the players offering digital therapeutics services.
Till date, 900+ patents have been filed related to novel cardiovascular drug delivery devices
In terms of the intellectual property developed across the world, the R&D activity is currently concentrated in North America and Europe. Further, most patented inventions are focused on the development of bioresorbable and biodegradable drug eluting stents.
Global demand for novel cardiovascular drug delivery devices is anticipated to grow at a CAGR of over 13%, during 2022-2035
In 2035, sirolimus eluting stents are expected to contribute over 50% of the total demand for novel cardiovascular drug delivery devices, majority (~70%) of such devices are manufactured using cobalt chromium as a stent material.
Players based in North America are anticipated to capture over 80% of the market share by 2035
The overall market of novel cardiovascular drug delivery devices is expected to be primarily driven by the rising demand for therapeutic interventions and recent technology advancements in the field. The estimates in our report suggest that stents manufactured using cobalt chromium are expected to hold more than 70% of the market share in 2035. It is interesting to mention that the market for stents manufactured using platinum chromium are expected to grow at a relatively faster pace (11.5%), during the forecast period.
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