As per our research report, the global coronary stents market size is forecasted to grow USD 12.9 billion by the end of 2025 and valued USD 8.9 billion in 2020. This market is estimated to showcase a CAGR of 7.6% from 2020 to 2025. The coronary stents market has expanded in across the world and will foresee significant growth during the forecast period. In 2019, North America was the most dominant regional market in the global coronary stents, and we expect the same trend soon.
Coronary stents are small metal tubes placed in coronary arteries, which is used to supply blood to the heart. Stent help to keep arteries open and reduce the chances of narrowing again during the treatment of coronary heart disease. Also, percutaneous coronary intervention is used to open coronary arteries. The stent is inserted during the therapy of angioplasty and in an emergency to treat a heart attack disease. During any heart-related procedure, a cardiac physician will place the stent over a catheter and directly inserted into an artery in the body. Dual therapy stent is the latest type of stent in coronary stents market.
MARKET DRIVERS
Rising CAD diseases, technological advancements and increasing aging populations are majorly propelling the coronary stents market growth.
The prevalence of Coronary Artery Diseases is growing at a rapid pace. According to the stats published by Centers for Disease Prevention and Control (CDC), an estimated 365,914 people were dead due to the Coronary heart disease in 2017, and around 6.7% of the population aged above 20 have CAD in the United States. This rising incidence is estimated to boost the global coronary stents market.
Rising geriatric population is another crucial factor significantly contributing to the global coronary stents market growth. According to the World Health Organization (WHO), the aged population (60 or above) is expected to be around 2 billion by the end of 2050, which was 900 million in 2015.
Additionally, technological advances in coronary stent technology, including the use of bifurcated stents and biodegradable materials are likely to boost up the demand of this market. Rising disposable income in urban areas is merely to expand the growth of the market. The introduction of advanced DES and evolving bioabsorbable stents, stent technology is superior to traditional balloon angioplasty and the advances in coronary stent technology as well as including the development of bifurcated stents and the use of biodegradable materials have yielded effective and improved results related to CVD treatment. The company is active in product development, partnerships, and strategic cooperation. These factors are expected to drive the growth of the global coronary stents market during the forecast period.
MARKET RESTRAINTS
Developed countries having strict regulations about coronary stent use, the falling prices for these devices and risks associated with DES include stent thrombosis are significant challenges to the global coronary stents market. The disruption of endothelial tissue regeneration and risk involved in it are further limiting the market growth to a limited extent.
Lack of skilled professional in the healthcare sector, raising various competitive treatment methods for artery diseases, and product failure in the real-time application are factors hamper the coronary stent market.
REPORT COVERAGE
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2019 to 2025 |
|
Base Year |
2019 |
|
Forecast Period |
2020 to 2025 |
|
Segments Covered |
By Type, Mode of delivery, material, End-User and Region |
|
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
|
Regions Covered |
North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
This research report on the global coronary stents market has been segmented and sub-segmented based on the type, mode of delivery, material, end-user and region.
Coronary Stents Market Analysis – By Type
Based on type, the bare metal stents type is holding the highest shares of the market. A rise in the incidences of cardiovascular problems is prompting the demand for this market. Followed by, the market is expected to be driven by Bioabsorbable stents, mainly in the polylactic acid material.
However, drug-eluting stents will continue to generate significant revenue due to new advanced polymer-based products and the adoption of advanced technology in hospitals. DES is mostly used for coronary disease and peripheral vascular disease. The DES-based polymer has continued high manufacturing and sales in the market that apply to fuel the market growth. Bioresorbable stent segment is expected to grow in the coming years due to allowing recovery of vessel vasoreactivity and endothelial functions. Majority of companies are trying to introduce the next generation of bioresorbable stents in the market that reduces patient compliance.
Coronary Stents Market Analysis – By Mode of Delivery
Based on the mode of delivery, Balloon's expandable stent mode of delivery is witnessed in dominating the most significant shares of the market with the increasing investments in healthcare centres by private and public organizations.
Coronary Stents Market Analysis – By Material
By material, the Metallic stents segment is growing at a faster rate from the past few years with the rise in the expenditure on healthcare, especially in urban areas.
Coronary Stents Market Analysis – By End-User
In terms of end-user, Hospitals end-user is leading with prominent shares of the market. Increasing the constructional activities of hospitals with the latest equipment are propelling the growth rate of this segment. Increasing support from government and non-government organizations through funds is levelling up the demand of the market. The developed infrastructure of cardiology hospitals is propelling the demand of coronary stents market.
Coronary Stents Market Analysis – By Region
Regionally, at present, North America is leading the global coronary stents market by owing to the quick adoption of the latest technological developments. The Asia Pacific and Europe are following North America in holding the highest shares of the market with the increasing geriatric population and rise in the capital income. The Middle East and Africa are anticipated to have significant growth opportunities in foreseen years with the growing awareness over the availability of various treatment procedures.
TOP COMPANIES IN THE MARKET
Key market participants leading the global coronary stents 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).
RECENT MARKET HAPPENINGS
On August 16, 2019, Meril Life Sciences received European Conformity for stents. These stents are used for treating coronary artery disease and also for the removal of blockages and lesions.
On April 10, 2019, Biotronik announced the launch of PK Papyrus covered stent system which is used in contact with emergency patients who have coronary holes in the heart. This device has a reduced number of death cases related to coronary artery holes.
On May 16, 2019, Medtronic launched the Telescope Guide Extension Catheter which was approved by FDA and CE. it is to access distal lesions and also to restore the blood flow through the coronary.
On February 26, 2018, Medtronic launched a 2.0 mm drug-eluting stent in the market for those patients who have small vessel diseases. The company wants to expand its business in the US coronary stents market.
On September 19, 2018, Terumo launched Tansei drug-eluting stent in the Japanese market, which is already available in Europe market.
On May 01, 2017, Medtronic, a leading medical devices company, launched resolute onyx drug-eluting stent and received approval from U.S. FDA for adults’ coronary artery disease. The stent has a large size that enables to expand for the patients of extra-large vessels.
1.Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Type
5.1.1 Introduction
5.1.2 Bare metal stents
5.1.3 Drug-eluting stents
5.1.4 Bioabsorbable stents
5.1.5 Y-o-Y Growth Analysis, By Type
5.1.6 Market Attractiveness Analysis, By Type
5.1.7 Market Share Analysis, By Type
5.2 Mode of delivery
5.2.1 Introduction
5.2.2 Balloon expandable stents
5.2.3 Self expanding stents
5.2.4 Y-o-Y Growth Analysis, By Mode of delivery
5.2.5 Market Attractiveness Analysis, By Mode of delivery
5.2.6 Market Share Analysis, By Mode of delivery
5.3 Material
5.3.1 Introduction
5.3.2 Metallic stents
5.3.2.1 Cobalt chromium
5.3.2.2 Platinum chromium
5.3.2.3 Nickel titanium
5.3.2.4 Stainless steel
5.3.3 Other stents
5.3.4 Y-o-Y Growth Analysis, By material
5.3.5 Market Attractiveness Analysis, By material
5.3.6 Market Share Analysis, By material
5.4 End user
5.4.1 Introduction
5.4.2 Hospitals
5.4.3 Cardiac centres
5.4.4 Ambulatory surgical centres
5.4.5 Y-o-Y Growth Analysis, By End user
5.4.6 Market Attractiveness Analysis, By End user
5.4.7 Market Share Analysis, By End user
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Type
6.1.3.3 By Mode of delivery
6.1.3.4 By Material
6.1.3.5 By End user
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Type
6.1.4.3 By Mode of delivery
6.1.4.4 By Material
6.1.4.5 By End user
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Type
6.1.5.3 By Mode of delivery
6.1.5.4 By Material
6.1.5.5 By End user
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7.Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1 Medtronic plc
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Abbott Laboratories
8.3 Boston Scientific Corporation
8.4 Biosensors International Group, Ltd.
8.5 BIOTRONIK SE & Co. KG
8.6 B. Braun Melsungen AG
8.7 TERUMO CORPORATION
8.8 Meril Life Sciences Pvt. Ltd.
8.9 MicroPort Scientific Corporation
8.10 STENTYS SA
9.Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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