The coronary stent market refers to the market for
medical devices used to treat coronary artery disease (CAD) by keeping the
blocked artery open. Coronary artery disease is a condition that occurs when
the arteries that supply blood to the heart become narrow or blocked, which can
lead to chest pain (angina) or a heart attack. Coronary stents are small mesh
tubes that are inserted into the narrowed or blocked artery to prop it open,
allowing blood to flow freely.
The Coronary Stent Market is anticipated to
reach USD 9,113.14 Million by 2030 at 3.20% CAGR during the forecast period
2022-2030.
Coronary
stents are utilized in angioplasty for making cross-section of blood vessels
wider. The stent will reduce the chest pain along with recovering survivability
during acute myocardial infarction. Coronary stents are used for treating
cardiac diseases namely coronary artery disease, angina pain and myocardial
infarction.
There are many factors that is
driving the growth of the coronary stents
market. Some of these factors as per the Market Research Future (MRFR) report
include increasing prevalence of CAD (coronary artery disease, innovations in
coronary stents, increase in research and development of coronary stems,
untapped emerging countries offering new market opportunities, lifestyle change
diseases, increasing geriatric population, profound increase in healthcare
coverage, advanced medical technologies, development of ICT (information and
communication technology) and increase in government investment. On the
contrary, factors such as high expenditure of procedures related to coronary
stents coupled with accessibility of substitutes for CAD treatment is likely to
hinder the growth of the coronary
stents market.
Market Segmentation
Market Research Future report offers an all-inclusive
segmental analysis of the heart stent market on the basis of products and
end user.
Based on products, it is segmented into Bioresorbable
Vascular Scaffolds, Bare Metal Stents and Drug Eluting Stents. Of these, drug
eluting stent is expected to lead the market during the predicted years owing
to its increasing acceptance in better patient compliance, angioplasty
procedures in comparison to bare metal stents. The bioresorbable stents is
expected to expand at the fastest pace.
Based on end users, the coronary stents market is segmented into specialty
centers, ambulatory surgical centers, hospitals and clinics and others. Of
these, hospitals and clinics will have the maximum market share during the
predicted years. This will be followed by the ambulatory surgical centers which
will expand at the fastest rate.
Regional
Analysis
Based on region, the coronary stents market covers growth opportunities
and latest trends across North America, Europe, Asia Pacific and Middle East
and Africa. Of these, North America will have a lion’s share in the market due
to increasing cases of cardiovascular diseases mainly coronary artery disease,
arterial blockage, cardiac arrythmia to name a few. Availability of advanced
treatment methods and better therapeutic approaches has affected the growth of
the market in this region in a positive way. The other factors that is driving
the growth of the coronary
stents market here include high disposable income, increasing medical awareness
among the people here and existence of leading medical device manufacturers in
this region. The coronary stents market in Europe holds the second largest
share owing to the increasing support by the government for device
manufacturers. Also, expansion of the companies geographically has resulted in
a broader reach of medical services and products that has brought tremendous
change with regards to acceptance as well as implementation of novel procedures
and products. The coronary stents market in the APAC region experienced a huge
growth due to the increasing development in the medical domain in the
developing countries such as China and India. Besides, increasing medical
device companies here, increasing research and development expenditure and
increasing funding made by the government has resulted in its fastest growth.
On the other hand, the coronary
stents market in the Middle East and Africa is expected to have minimal growth
opportunities.
Competitive Analysis
The coronary
stents market analysis is fragmented and highly competitive. The leading
companies which have used strategies such as strategic alliances and mergers
and acquisitions have gained a competitive advantage. Besides companies are
highly focused to create products that are technologically advanced and deliver
efficiency and greater accuracy.
Key Players
The coronary stents
market Players include Terumo Corporation, Stentys SA,
MicroPort Scientific Corporation, Meril Life Sciences, Medtronic plc, Elixir
Medical Corporation, Cook Medical, R. Bard, Inc., Boston Scientific
Corporation, Biotronik SE & Co. KG, and Abbott, B. Braun Melsungen AG.
Feb 2019- Biotronik has received
approval from the FDA on its Ultrathin Orsiro Stent to treat coronary artery
disease. This coronary stent will offer a novel treatment option to healthcare
providers that will help in sealing the perforation to prevent blood leakage at
the time of the procedure as well as avoid higher invasive surgical procedure
or life-threatening complication.
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