Global Coronary Stents market, which is projected to accrue revenue worth 9,957. 58 (USD Million) by 2026, is set to grow at a CAGR of 9.4% during the period from 2020 to 2026.
Coronary Stents Market
The global Coronary Stents market, which is projected to accrue revenue worth 9,957. 58 (USD Million) by 2026, is set to grow at a CAGR of 9.4% during the period from 2020 to 2026. The report offers valuation and analysis of the Coronary Stents market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, restraints, revenue estimates, avenues, current & emerging trends, and industry-validated market information. The report offers historical data from 2016 to 2018 along with a forecast from 2019 to 2026 based on value (USD Million).
A coronary stent is tube-shaped equipment that is placed in the coronary arteries that supplies blood to heart and assist in keeping the arteries open for treating coronary artery disorder. It is utilized in a procedure termed as percutaneous coronary intervention or coronary angioplasty through stent replacement. Moreover, these medical devices minimize chest pain and enhance the rate of patient survival along with decreasing adverse effects during acute myocardial infarction.
Moreover, the device was first introduced in 1980 and has evolved in terms of shape, material, and structure. The major anatomical parts of coronary stents are platform, released medicine, and bio-absorbable & hydrophobic polymer coating. Furthermore, stent platform or scaffold are metallic as well as bio-degradable and offer radio-opacity, radial strength, and flexibility. Apparently, the polymer coating serves as stable reservoir and modulates the drug release. The last component referred as released medicine possesses ant-proliferative features and help in obstructing smooth muscle proliferation. Today, stent scaffolds are made from platinum-chromium and cobalt- chromium as compared to stainless steel earlier and improve drug-eluting features. This has facilitated in reduction of strut width and enhances drug delivery. The innovations in stent designs have brought a drastic improvement in mechanical performance of the coronary stents and improved drug-eluting features.
Market Growth Drivers
The growth of coronary stents industry over the estimated timespan is attributed to surge in the proportion of percutaneous coronary intervention methods and product innovations. Apart from this, escalating demand for minimally invasive procedures and rise in the number of aging population prone to heart ailments will enhance the product demand over the ensuing years. Furthermore, the beneficial features of coronary stents including flexibility, visibility, bio-compatibility, tractability, low crossing profile, high radial strength, ease of deployment, low metallic surface area, and favorable radiographic features will steer the market trends.
Moreover, altering government policies for reducing the coronary stent costs will result in cost-effective medical treatment, thereby paving the way for the growth of coronary stents industry over the forthcoming years.
Asia Pacific Set To Establish Market Domination Over 2020-2026
The growth of the market in Asia Pacific during the estimated timespan is due to supportive government laws and huge patient population base in the densely populated countries of the region. In countries like India, the government has reduced the costs of bare metal stents & drug eluting stents and this will boost regional market size over the estimated timespan.
Key players profiled in the report are C R Bard, Boston Scientific, Meril Life Sciences, Medtronic, B. Braun Melsungen AG, Terumo, Abbott Laboratories, MicroPort Scientific Corporation, Biosensors International Group, Biotronik SE & Co. KG, and Elixir Medical Corporation.
The global coronary stents market is segmented as follows:
By product type:
By absorption rate:
The growth of coronary stents industry over the estimated timespan is attributed to surge in the proportion of percutaneous coronary intervention methods and product innovations. Escalating demand for minimally invasive procedures and rise in the number of aging population prone to heart ailments will enhance the product demand over the ensuing years.
According to Zion market research, the global Coronary Stents Market, which is lively to accrue revenue worth USD 9,957.58 million by 2026, is set to grow at a CAGR of over 9.4% during the period from 2020 to 2026.
Asia Pacific is likely to make noteworthy contributions towards overall market revenue. The growth can be credited to supportive government laws and huge patient population base in the densely populated countries of the region. Apart from this, in countries like India, the state has reduced the costs of bare metal stents & drug eluting stents and this will steer business surge in the region.
The key players profiled in the report include Boston Scientific; Medtronic; Terumo; Abbott Laboratories; B. Braun Melsungen AG; C R Bard; Biotronik SE & Co. KG; Biosensors International Group; MicroPort Scientific Corporation; Meril Life Sciences; and Elixir Medical Corporation. Industry players are trying to increase their regional market share through introduction of new products and forming partnerships with other players. They are also focusing on creating cost-effective as well as affordable products and enhance its access or availability even to remote & distant locations.