The current market for drug eluting stents (DES) is estimated at $3.9 billion, accounting for 78 percent of total global coronary stents market, according to a new report from Medtech Ventures, which forecasts on the medical technology industry.
The U.S. accounted for 46 percent of the global market, followed by Europe accounting for 26 percent and Japan accounting for 12 percent.
After a short period of explosive growth that saw the market for DES reach a peak of $5.1 billion within two years of the device launch in the U.S., Medtech said that the market experienced a correction. Uncertainties regarding the risk of late stent thrombosis related to the device led to a decline in the use of DES in PCI procedures, as well as a decline of total number of procedures performed, especially in the U.S., Medtech said.
Boston Scientific is the global market leader accounting for 46 percent of the market, the report said. The company is currently pursuing a dual drug strategy with the Taxus paclitaxel-eluting stent and the Promus everolimus-eluting stent.
Cordis, a Johnson & Johnson subsidiary, is the second leading player, accounting for 39 percent of the global DES market with its Cypher sirolimus-eluting stent. Medtronic came in third place with its Endeavor zotarolimus-eluting stent and Abbott in fourth place with its Xience everolimus-eluting stent.
The sharp decline in the DES market over the past year was due to a reduction in overall PCI procedures volume, reduction in DES penetration rate and defensive price cutting on behalf of marketing companies, Medtech reported.
However, the report found early signs of stability in the number of PCI procedures performed in U.S. cath labs and a leveling of DES penetration rates as percentage of the procedure, which lead the researchers to forecast a positive growth trend in the mid-single digit range for the market eventually leading to complete market recovery.
The complete report, “Drug Eluting Stents - Technology & Market Forecast is a New 2008 Edition,” provides an extensive analysis of the market with profiles of leading participants and forecasts to the year 2015.