The size of the Latin America Coronary Stent Market was valued at USD 0.89 billion in 2022 and is estimated to be growing at a CAGR of 7.8%, to reach USD 1.30 billion by 2027.
In the Latin America region, large players in the market with innovative ideas are estimated to showcase tremendous potential during the forecast period. Advancements in Interventional Cardiology and minimally invasive techniques have effectively influenced the potential of the market for stent’s therapeutic applications. In addition, the increasing use of bare-metal stents, Bioabsorbable stents, and drug-eluting stents to treat coronary artery diseases (CAD) is propelling the Latin American coronary stents market growth.
The growth of the Latin American coronary stent market is further accelerated due to the increasing incidences of cardiovascular diseases. Also, the modifications in the healthcare settlement policies and the insurance policies are anticipated to boost the coronary stent market in the future in all countries of Latin America. Furthermore, many companies invest in research and development related to stents; it will further fuel the growth. Also, the adoption of these technologies by the end users and the patients is growing the market growth.
On the other hand, the cost of coronary stents in Latin America is comparatively higher and is one of the major restrictive factors of the coronary stent market. Also, the availability of alternative treatments for coronary artery diseases is restraining the market growth in the Latin American region. Moreover, the process of approvals for stent manufacturing and selling is rigorous in the regional countries, which affects their businesses.
This research report on the Latin America Coronary Stent Market has been segmented and sub-segmented into the following categories:
By Mode of Delivery:
Regionally, the Brazilian coronary stents market is expected to continue its dominance and reach a size of USD 1.4 billion by 2027. Furthermore, the expected growth of the Drug-Eluting Stents segment is a CAGR of 7.1% during the forecast period to maintain its dominance in the Latin American market in the forecast period.
The Mexican coronary stent market follows Brazil in accounting for the leading share in the Latin American market due to the Y-O-Y growth in the incidence of chronic diseases and the geriatric population.
KEY MARKET PLAYERS:
A few of the notable participants operating in the Latin America 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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