March 13, 2020: Global coronary stent market is expected to grow at a significant CAGR of 7.1% by 2023 as the scope and its applications are rising enormously across the globe. A coronary stent is a small wire mesh tube that opens an artery and reduces the chance of heart attack. It is permanently placed in an artery. It improves the blood flow to the heart muscles and relieves symptoms.
The factors that are playing a major role in the growth of market are growing geriatric population, sedentary lifestyle, and expansion of innovative and enhanced bioengineered absorbable products. However, the presence of alternative treatments and strict government norms for product approval may restrain overall market growth in the years to come. Coronary stent market is segmented based on type, mode of delivery, material, end user, and region.
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Bare-metal stents, drug-eluting stents (DES), and bio absorbable stents are the types that could be explored in the market in the forecast period. The DES sector accounted for the substantial market share of coronary stent and is estimated to lead the overall market in the years to come. The sector comprises non-biodegradable and biodegradable coronary stents. The reason behind the overall market growth could be its capability to release an anti-proliferative drug that evades neointimal proliferation, ultimately plummeting the incidence of stent rest enosis. Moreover, the noninvasive procedure offered by DES is gaining popularity.
Based on the mode of delivery, balloon expandable and self-expandable could classify coronary stent market in the forecast period. Copolymer, metal, and polymer are the materials used that could be explored in the coronary stent in the forecast period. The metal sector comprises nitinol, stainless steel, PtCr, and CoCr. The market may be categorized based on end-users like ambulatory surgical centers, hospital, cardiology center, and others that could be explored in the forecast period.
Coronary stent market is segmented geographically into Americas (North America, South America), Europe (Eastern Europe, Western Europe), Asia Pacific (India, China, Japan, New Zealand, and Australia), Middle East (UAE, Saudi, and Qatar) and Africa (South Africa).North America may account for the substantial market share of the market and is estimated to remain dominant over the forecast period. The reason behind the overall market growth could be the increasing occurrence of coronary arterial diseases, hypertension, and blockage of vessels.
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Europe and the Asia Pacific are also estimated to have a positive influence on future growth. Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at the highest CAGR in the forecast period. The aspects that may be ascribed to the growth comprise huge population, ease of doing business in this region, economic developments, and faster adoption rate of the latest technologies. The key players of coronary stent market are Abbott, Boston Scientific Corporation, Terumo Corporation, Medtronic, B. Braun Melsungen AG, Biotronik SE & Co. KG: Stentys SA, MicroPort Scientific Corporation, C. R. Bard, Inc., and Cook Medical. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.
Global coronary stent market is anticipated to grow at a CAGR of 7.1% by 2023, according to a new report published by Gen Consulting Company. The report segments the market and forecasts its size, by volume and value, on the basis of application (hospital, clinic, etc.), and by geography (North America, Europe, Asia-Pacific, MEA and South America).
The report covers forecast and analysis for the Coronary Stent market on a global and regional level. The study provides historic data of 2013-2017 along with a forecast from 2018 to 2023 based on both output/volume and revenue. The study then describes the drivers and restraints for the Coronary Stent market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the Coronary Stent market on a global level.
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The report has been prepared based on the synthesis, analysis, and interpretation of information about the global Coronary Stent market collected from specialized sources. The competitive landscape section of the report provides a clear insight into the market share analysis of key industry players. Company overview, financial overview, product portfolio, new project launched, recent development analysis are the parameters included in the profile.
The research report provides analysis and information according to market segments such as geographies, types and applications. All the segments have been analyzed based on present and future trends and the market is estimated from 2018 to 2023. Relevantly, the report and company profiles specify the key drivers that are impacting the demand in global Coronary Stent market.