Coronary Stents Market: An Overview
According to a new report by Reports and Data, the Global Coronary Stents market size is forecast to reach USD 16.58 Billion from USD 8.95 Billion in 2019, exhibiting a CAGR of 7.9% through 2027. The market growth is driven by the growing prevalence of CVD (Cardiovascular disease) and CHD (Coronary heart disease). CHD is the most common type of heart disease and led to the death of 365,914 people in 2017 alone.
A coronary stent is used to treat narrowed or weakened coronary arteries. It is a small tube-shaped device that a surgeon places in the coronary arteries to improve blood flow immediately following a heart attack. These stents are used in all PCI (percutaneous coronary intervention) procedures. Coronary stents aid in reducing chest pains and have been proven to improve the chances of survival. It also decreases adverse events in acute myocardial infraction. With the rising advancements and launch of new products, there is a massive scope in the coronary stents market.
The high costs associated with the coronary stents and risks such as re-narrowing of arteries, scar tissues, blood clots, and others are the growth restricting factors. However, increased technological advancements are likely to eliminate the issue in the coming years.
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Coronary Stents Market Dynamics
Over the past few years, patients have gradually inclined towards minimal invasiveness in procedures. Coronary Angioplasty is one such minimal intrusive treatments and has been witnessing high demand. A rise in the number of coronary artery diseases has fuelled research and development activities to develop innovative solutions for the heart-related ailment treatment, which is propelling industry growth.
Recent developments in the stent types and systems have led to increased surgeries. The launch of DTS (Dual Therapy Stents) has been revolutionary as it is a combination of Bio-engineered Stent and Drug Eluding Stents. It offers a coating material on both the inside and outside, making the chances of inflammations, tissue injuries, and blood clots less likely. The dual therapy stents market size is estimated to grow at a CAGR of 8.8% over the analysis period.
Coronary Stents Market: Regional Outlook
The Asia Pacific is likely to be the fastest-growing region with a substantial growth rate of 8.7%, holding 26.6% of the market share over the forecast period. The robust growth can be attributed to the increasing geriatric population and the increasing incidence of Coronary Artery Disease in the region. Several initiatives have been taken by regional governments to expand medical facility infrastructure and surgical procedures affordable.
The North American region dominates the market with the highest value share and is estimated to register a CAGR of 7.7% through 2027. This growth can be attributed to the changing dietary habits and prevalence of obesity, which is leading to an increase in the cases of Coronary Artery Disease.
Followed by North America closely, Europe accounts for the highest market share of 30.4% and is expected to register a CAGR of 7.6% through 2027. The growth is led by rising technological advancements in this region.
Major players in the Coronary Stents Market
- Orbus Neich.
- Boston Scientific Corporation
- Abbott Laboratories
- Medtronic Plc
- B. Braun Melsungen AG
- Stentys SA
- Vascular Concepts
- Biosensors International Group Ltd.
Impact of COVID-19 on Coronary Stents Market
According to the Harvard Health School, nearly two million people suffer from coronary artery stents every year. The outbreak of coronavirus globally has affected all the industries, including the coronary stents market, in several ways. A lot of business complexities are arising due to the current pandemic, which has created confusion pertaining to the production and delivery of medical devices. The solution to various multi-layered uncertainties experienced by hospitals, organizations, surgical centers, and coronary stent manufacturers working in the supply chain are covered in this research report.
Regional analysis includes
- North America
- Latin America
- Asia Pacific
- Middle East & Africa (MEA)
- Detailed overview of the parent market
- Changing positive coronary market dynamics in the industry
- In-depth coronary stents market segmentation
- Historical, present, and projected positive coronary stents market size in terms of volume and value
- Recent positive coronary stents market trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Segments, sub-segments, and geographical regions exhibiting promising growth
- A neutral perspective on coronary stents market
Coronary Stents Market: Segmentation
This report shows the revenue growth at global, regional, and country levels to provide an analysis of market trends in each segment and sub-segment from 2017 to 2027. For this study, Reports and Data has segmented the Coronary Stents Market based on type, end use, material, and region.
By Type (Revenue, USD Million; 2017–2027)
- Dual Therapy Stents
- Drug Eluting Stents
- Bio-engineered Stents
- Bare Metal Stents
- Bioresorbable Vascular Scaffold (BVS)
By End Use (Revenue, USD Million; 2017–2027)
- Ambulatory Surgical Centers
- Cardiac Centers
By Material (Revenue, USD Million; 2017–2027)
Read News About “Coronary Stents Market Analysis, By Type (Dual therapy stents, Drug eluting stents, Bare Metal Stents, Bioresorbable Vascular Scaffold, Bio-engineered) End Use (Hospital, Ambulatory Surgical Centers, Cardiac Centers), Material (Metal, Polymer, Copolymer) and Forecast by 2026” @ https://www.globenewswire.com/news-release/2019/08/26/1906645/0/en/Coronary-Stents-Market-To-Reach-USD-15-37-Billion-By-2026-Reports-And-Data.html