Market Analysis
The coronary stents market was valued at USD 9,382.63 million in 2017 and is predicted to grow at a 7.81% CAGR between 2018- 2023, as per the recent analysis by Market Research Future (MRFR). A coronary stent, simply put, is a device that is tube-shaped inserted into the coronary artery that helps in regulating the supply of blood to the heart. These stents have substantially altered the practice of interventional cardiology via reducing the early complications like abrupt vessel closure along with enhancing late clinical outcomes or restenosis, thus resulting in physician and patient satisfaction.
Various factors are propelling the global coronary stents market size. As per the latest MRFR report, such factors include expansion in governmental investment, a profound increase in healthcare coverage and healthcare spending, developing health infrastructure, and lifestyle change diseases. Additional factors adding market growth include increasing obese and ageing population, wide acceptance of prosthesis in coronary artery treatment procedures, FDA approvals to new technologies, and increasing cases of coronary artery diseases.
On the contrary, the lack of institutional support may limit the global coronary stents market growth over the forecast period. Besides, supply chain constraints, delayed elective surgeries, and primary focus to treat COVID-19 patients is also affecting market growth.
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Market Segmentation
The MRFR report offers an inclusive segmental analysis of the global coronary stents market size based on end users and products.
By products, the global coronary stents market is segmented into bioresorbable vasculae scaffolds, bare metal stents, and drug eluting stents. Of these, the drug eluting stent segment will lead the market over the forecast period. Better patient compliance and wider acceptance in angioplasty procedures are adding to the growth of the segment. Meanwhile, the bioresorbable stents are predicted to grow at a fast pace over the forecast period.
By end users, the global coronary stents market is segmented into specialty centers, ambulatory surgical centers, hospitals and clinics, others. Among these, hospitals and clinics will spearhead the market over the forecast period. Meanwhile, the ambulatory surgical centers is predicted to grow at a fast pace over the forecast period for the growing establishments of ambulatory surgical centers especially in developing and developed countries.
Regional Analysis
Based on the region, the global coronary stents market size report covers the growth opportunities and recent trends across the Americas, Europe, the Asia Pacific, the Middle East and Africa (MEA). Among these, the Americas will spearhead the market over the forecast period. The presence of leading medical device manufacturers, high disposable income, increasing awareness about population, advanced treatment procedures, development of improved therapeutic approaches, and growing cases of cardiovascular diseases like coronary artery disease, arterial blockage, cardiac arrhythmia, among others are adding to the global coronary stents market growth.
The global coronary stents market in Europe is predicted to have the second-largest share over the forecast period. Growing government support for device manufacturers and the expansion of companies geographically are adding to the global coronary stents market size growth in the region.
The global coronary stents market in the APAC region is predicted to grow at a fast pace over the forecast period. The booming medical sector, especially in China India, rising government funding for healthcare, growing number of medical device companies, rising research and development expenditure are adding to the global coronary stents market size growth in the region.
The global coronary stents market in the MEA is predicted to have small growth over the forecast period.
Key Players
Leading players profiled in the global coronary stents market report include Terumo Corporation, Stentys SA, MicroPort Scientific Corporation, Meril Life Sciences, Medtronic Plc, Elixir Medical Corporation, Cook Medical, C. R. Bard, Inc., Boston Scientific Corporation, Biotronik SE Co. KG, B. Braun Melsungen AG, and Abbott.
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