According to Data Bridge Market Research new Market report “Global Coronary Stents Market, By Type (Dual Therapy Stent, Bioresorbable Vascular Scaffold, Drug Eluting Stent (DES) (Paclitaxel, Limus-Based Drugs) , Bio-engineered Stent, Bare Metal Stent), By Absorption Rate (Slow-Absorption DES, Fast-Absorption DES), By Material (Stainless Steel, Cobalt Alloy Metal, Gold, Tantalum, Nitinol, Polymers), Rate (Slow-Absorption Stents, Fast-Absorption Stents), By Application (Coronary Artery Disease, Peripheral Artery Disease), By End-User (Hospitals, Cardiac Centers, Others), By Geography (North America, Europe, Asia-Pacific, Middle East and Africa, South America, Rest of the World) - Trends and Forecast to 2022”, is estimated at USD 5.1 billion in 2015 and is projected to reach USD 6.1 billion by 2022, at a CAGR of 2.5% during the forecast period from 2016 to 2022.Report Access: http://databridgemarketresearch.com/reports/global-coronary-stents-market/
One of the major factors contributing to the growth of this market is due to increase in prevalence of cardiovascular disorders. In 2015, according to WHO statistics 31% of all deaths globally are caused due to cardiovascular diseases. Major countries affected by cardiovascular diseases include North Asia and European nations among some African nations; the range in these regions varies from 4,229 to 10,772 per 100,000 populations. According to CDC more than 500,000 PCI procedures are performed yearly in the U.S., and it has been estimated that more than 1,000,000 procedures are performed annually worldwide. Also, factors such as aging population (decreased elasticity of cardiac muscles, high blood pressure, and blocking of arteries due to cholesterol or formation of blood clots), adoption of new technologies, minimally invasive procedures, shorter scars, shorter recovery time, less physical trauma, and less bleeding and risk of infection are driving the growth of this market.
Stenting is similar to angioplasty, a minimally invasive procedure which serves as an alternative to coronary artery bypass surgery (CABG). Stenting is less complicated than CABG as it don’t require anesthetics and don’t hinder patients day to day activity for more than a week, also the patients can leave the hospital within 1 to 2 days observation time. However the stenting procedure also has its pitfalls as there are chances of infections at surgery site or stroke and heart attack during surgeries. Restenosis is not uncommon as it is done in 15% to 30% of patients treated with bare metal stents but usage of drug eluting stents solves the risk. The real risk of any stenting surgeries is thrombosis i.e. formation of blood clot which may lead to heart attack or death. Now after considering risks and benefits still stenting is by far a less complicated and safe procedure as compared to CABG.
The Global Coronary Stents market is highly competitive and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. Some examples of recent strategies adopted by market players are: For instance, in July 2016, the Abbott received U.S. FDA approval for first absorbable stent Absorb GT1 BVS for arterial disorder which is manufactured with biodegradable polymer poly (L-lactide), October 2015, Boston Scientific Corporation received FDA approval for Synergy bioabsorbable polymer drug eluting stents system. The report includes market shares of global coronary stents market for Global, U.S., Europe, Germany, Asia-Pacific, Middle East & Africa, North America and South America.
The Global Coronary Stents market report contains an in-depth profiling of the key market players, along with the recent developments (New product launches, partnerships, agreements, collaborations, and joint ventures) and strategies adopted by them to sustain and strengthen their positions in the market. Some of the major players operating in this market are Abbott Vascular, SciTech, Boston Scientific Corporation, Medinol Ltd, iVascular SLU, Stentys SA, Elixir Medical Corporation, Inspire MD, Hexacath, Medtronic, Orbusneich, Andramed GmbH, Cordis Corporation, Endocor GmbH, Eurocor GmbH, Comed B.V., MicroPort Scientific Corporation, Degania Silicone Ltd., Amaranth Medical, Inc., Terumo Corporation, Meril Life Sciences Pvt. Ltd., Elixir Medical Corporation, InSitu Technologies Inc., Alvimedica, Biotronik SE & Co. KG, AMG International GmbH, Arthesys, Translumina GmbH, Lepu Medical, Accura, CeloNova BioSciences, Inc., Minvasys, Svelte Medical, B. Braun Melsungen AG and, Eucatech AG among other companies.
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Global Coronary Stents Market – Industry Trends - Forecast to 2026
Coronary Stent Market is expected to grow at a CAGR of 7.2% due to increasing cases of heart diseases
Global Coronary Stents Market is Expected to Grow at CAGR 2.4% Forecast to 2024
Global Coronary Stents Market is Expected to Register a Healthy CAGR in the Forecast Period of 2019 to 2026