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), Absorption Rate (Slow-Absorption DES, Fast-Absorption (DES)), Material (Stainless Steel, Cobalt Alloy Metal, Gold, Tantalum, Nitinol, Polymers), Rate (Slow-Absorption Stents, Fast-Absorption Stents), Application (Coronary Artery Disease, Peripheral Artery Disease), End-User (Hospitals, Cardiac Centers, Others )
Market Analysis: Global Coronary Stents Market
Global Coronary Stents Market is expected to rise from its initial estimated value of USD 7.76 billion in 2018 to an estimated value of USD 13.60 billion by 2026, registering a CAGR of 7.2% in the forecast period of 2019-2026.
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Market Definition: Global Coronary Stents Market
A small mesh like elastic tube composed of metal like cobalt alloy or stainless steel that attaches onto small balloons and opens inside the artery to support the vessel wall and facilitates the blood flow is known as a Stent.
According to World Health Organization, there were an estimated 17.9 million people die which accounts for 31% of all deaths worldwide, almost more than half of these deaths could have been avoided with the availability of proper medical equipment and devices for healthcare procedures. This significant number is expected to act as a driver to the market growth.
- Increasing demand by supplier side and parent side due to convenience during medicine intake will drive the market.
- Increase in diabetic population, increased consumption of alcohol, rising obese population, increase in hypertension, aging population are the main drivers of the market.
- Non-availability for the middle class people due to pricing of the stents is expected to act as a restraint to the market growth
- Complications associated with implantation of stents is expected to act as a restraint to the market growth
Segmentation: Global Coronary Stents Market
- By Product Type
- Dual Therapy Stent
- Bioresorbable Vascular Scaffold
- Drug Eluting Stent (DES)
- 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
- Nitinol Polymers
- By Rate
- Slow-Absorption Stents
- Fast-Absorption Stents
- By Application
- Coronary artery disease
- Peripheral artery disease
- By End-Users
- Cardiac centers
Key Developments in the Market:
On 6th January, 2017, Abbott has completed its $25 billion acquisition of St. Jude Medical, the healthcare company announced. The merger melds St. Jude’s strength in heart failure devices, catheters and defibrillators with St. Jude’s prowess in coronary intervention value repair. St. Jude bolstered its heart failure business a little over a year ago with the purchase of Thoratec for USD 3 billion.
In February 2017, PRO-Kinetic Energy Cobalt Chromium Bare-Metal Stent of Biotronik received FDA approval for treating coronary artery blockage. This novel medical device which has already been used to treat more than 650,000 patients worldwide.
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Competitive Analysis: Global Coronary Stents Market
Global coronary stents market is highly fragmented 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. The report includes market shares of coronary stents market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
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