Coronary Stent Market Size and Growth Rate:
Coronary stent market size was valued at USD 8.9 billion in 2019 and it is projected that it will reach USD 12.9 billion by 2024, registering at a CAGR of 7.68% during the forecast period.
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Coronary Stent Market Overview:
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Coronary Stent Market Growth Drivers and Restraints:
Rise in the demand for effective therapeutic procedures and promote the wellbeing of the patient after surgery is the primary factor driving the demand of the market. A growing number of patient’s suffering from cardiovascular and cancer diseases is fueling the growth of the coronary stent market. Initiative steps by the government to ensure a quality life for the patient are spurring the demand of the market.
However, the cost for installation and maintenance of the devices is little high and this leads to a high price for the treatment procedure. This factor is restraining the demand of the market. The dearth of skilled persons in performing the operations using systems is slowly hindering the growth of the market. Frequent changes in economic strategies may show a negative impact on the growth of the market.
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Growing investments in the construction of hospitals due to increased flow of patients are anticipated to present growth opportunities for the market. Launch of reimbursement by the government in favor of the common people is escalating the growth of the market. Furthermore, the market is ascribed to bolster with the emergence of advanced technology into the medical sector.
Coronary Stent Market Geographical Analysis:
Regionally, North America is witnessed in holding the largest shares of the market by owing to increasing revenue in developed and developing countries. Also, the growing demand for personalized medicine is prompting the demand for this market. Europe is following North America with the rise in the incidences of heart failure cases and the growing need for coronary stent procedures to clear blocks. Asia pacific is to have a tremendous growth rate in the coming years. Increasing geriatric population is one of the factors magnifying the growth rate in Asia pacific.
Keyplayers of the Coronary Stent Market:
Companies involved in the coronary stent market are Medtronic plc (Ireland), Abbott Laboratories (U.S.), Boston Scientific Corporation (U.S.), Biosensors International Group, Ltd. (Singapore), BIOTRONIK SE & Co. KG (Germany), B. Braun Melsungen AG (Germany), TERUMO CORPORATION (Japan), STENTYS SA (France), MicroPort Scientific Corporation (China), Meril Life Sciences Pvt. Ltd. (India), Vascular Concepts (India) and Translumina GmbH (Germany)
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The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
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