07 June 2020
Visiongain has launched a new pharma report Coronary Stents Market Report 2020-2030: Forecasts by Type (Bare-Metal Stents, Bioabsorbable Stents, Drug-Eluting Stents), Mode of Delivery (Balloon-Expandable Stents, Self-Expanding Stents), Material (Metallic Stents (Cobalt Chromium, Nickel Titanium, Platinum Chromium, Stainless Steel), Other Stents), End User (Ambulatory Surgical Centers, Cardiac Centers, Hospitals), and Geography (North America, Latin America, Europe, Asia Pacific, MEA).
The global coronary stents market is anticipated to grow at a lucrative CAGR of xyz% and anticipated to reach USD xyz billion by 2020. Visiongain anticipates that the global market will grow on account of the rising prevalence of coronary artery diseases (CADs) coupled with technological advancements across the industry.
The prevalence of coronary artery disease (CAD) has increased in the past three decades in low- and middle-income countries, including India. Coronary artery disease is responsible for 20% of the total deaths in India. Thus, with the increased burden of CAD, the usage of coronary stents has increased significantly in healthcare facilities as well as their production by the medical device manufacturers, thus helping in driving the market growth. Also, the increasing geriatric population has increased the demand for coronary stents that are expected to rise over the forecast period.
There has also been a high demand for minimally invasive operations which drive the coronary stent market significantly. The use of a minimum invasive surgical procedure, which is the major driver of development, has therefore reduced post-operative trauma and complications. The other advantages associated with advanced and miniaturized coronary stents are shortened hospital stays and decreased healing time.
Growing numbers of PCI procedures have been leading to business growth in the last few years. In the 2016 Korean Throraco-Cardiovascular Surgical Review, 78% of PCI for coronary artery (CAD) and its country-specific PCI ratio reached 96%, considerably above the global average. The demand for coronary stents would, therefore, be powered by a rise in PCI treatments and improvement in stents technology.
Owing to the implementation of advanced DES and evolving bioresorbable faces, the stenting technology is increasingly favored over traditional balloon angioplasty systems. The technological advancements in coronary stents, like bifurcated stents development & utilization of biodegradable material, has led to an improvement in treatment outcomes for cardiovascular diseases. Companies engage in product and alliance growth and strategic collaboration proactively. Over the forecast period, the aforesaid factors would drive demand growth for coronary stents.
North America dominated the global coronary stents market owing to the growing prevalence of CVDs, and obesity among others. Also, the market will continue to be driven by the existence of the target population and increased R&D investment by important business organizations. Asia Pacific region is expected to experience the highest growth in terms of CAGR over the forecast period owing to the rising geriatric population, growing healthcare infrastructure, and low manufacturing costs of coronary stents across the region. Additionally, unmet needs of patients and untapped nations in this region have been attracting investments by global players and this is expected to boost the coronary stents market growth over the forecast period.
Currently, key players are forming various strategies such as acquisitions, mergers, partnerships, collaborations, and launching new products to strengthen their position in the global coronary stents market. Companies are also expanding their R&D, distribution, and management facilities to expand their business and to hold a competitive edge in the coronary stents market.
For instance, on 22nd February 2019; Biotronik announced that a drug-eluting stent system for the treatment of patients with CAD has been approved by the FDA and is commercially available in the U.S.
The DES (Orsiro, Biotronik) is used during PCI and elutes sirolimus through a bioabsorbable polymer coating (Biolute, Biotronik), according to a press release from the company. The system also has a coating that reduces nickel ion release, ultrathin stent struts, and a low crossing profile.
The comprehensive market report features companies such as Abbott Laboratories, B. Braun Melsungen AG, Biosensors International Group, Ltd., Biotronik SE & Co. Kg, Boston Scientific Corporation, Stentys SA, Terumo Corporation, C.R. Bard,Inc., Cook Medical, HEXACATH, Medtronic PLC, Meril Life Sciences Pvt. Ltd., Microport Scientific Corporation, Translumina GmbH, and Vascular Concepts among other prominent players. Also the research study offers market estimation and forecast for the period ranging 2020-2030 for global markets such as North America, Latin America, Europe, Asia Pacific and MEA along with regional sub-markets as U.S., Canada, Brazil, Mexico, Germany, UK, France, Italy, Spain, Russia, India, Japan, China, Australia, ASEAN, GCC and South Africa.
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