The size of the Asia Pacific Coronary Stent Market was worth USD 1.79 billion in 2022 and estimated to be growing at a CAGR of 8%, to reach USD 2.63 billion by 2027.
In the Asia Pacific region, many countries are achieving economic development and undergoing changeover to a Western Lifestyle and consuming foods with higher fat, and adopting sedentary lifestyles, which are significantly increasing the cases of coronary heart diseases in this region and driving the market growth. Additionally, factors such as the increasing geriatric population and the prevalence of chronic diseases, and the rising adoption of advanced technologies are greatly influencing the market growth.
Moreover, the highest growth rate anticipated by the bioresorbable stent over the above mentioned in the forecast period is due to high biodegradable properties. In addition, an increase in non-refundable income and growing incidents of heart diseases will boost the market growth in the forecast period.
Technological advancements in coronary stents are directly hiking the prices of these products, which is the primary restraint to the market. Also, the procedures of approval for stent selling and manufacturing are very stringent in the countries of these regions, which are further hampering the growth rate of the Asia pacific coronary stent market.
This research report on the Asia Pacific Coronary Stent Market has been segmented and sub-segmented into the following categories.
By Mode of Delivery:
Regionally, the Asia Pacific is the fastest-growing regional market across the world. Within the Asia Pacific, the Indian coronary stent market would perform better among all the different nations in this region during the forecast period. In addition, prices of coronary stents rates have been capped by India, which might be a key factor fuelling the market's demand. These factors will help the Indian market to emerge the fastest growth in the Coronary Stent market.
The China coronary stent market is expected to account for USD 1.7 billion by 2027 and is the largest market in this region. The segment of Drug-Eluting Stents is expected to grow at a CAGR of 8.6% during the forecast period in this region. Moreover, the segment of Bioresoreble Vascular Scaffolds would grow at the highest CAGR.
KEY MARKET PLAYERS:
A few of the major market participants operating in the Asia Pacific Coronary Stent Market profiled in the report 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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