The Market For Global Coronary Stents Market Is Expected To Grow At CAGR 8.9% From 2017 To 2024.
Data Bridge Market Research new Insight’s on “Global Coronary Stents Market is projected to reach 6.4 billion by 2024, from USD 5.3 billion in 2016 growing at a CAGR of 2.4% during the forecast period of 2017 to 2024”.
The market is segmented By Type (Dual Therapy Stent, Bioresorbable Vascular Scaffold, Drug Eluting Stent (DES) (Paclitaxel, Limus-Based Drugs), Bio-Engineered Stent, Bare Metal Stent),By Absorption Rate (Slow-Absorption DES, Fast-Absorption (DES)), By Material (Stainless Steel, Cobalt Alloy Metal, Gold, Tantalum, Nitinol, Polymers), Rate (Slow-Absorption Stents, Fast-Absorption Stents), By Application (Coronary Artery Disease, Peripheral Artery Disease), By End-User (Hospitals, Cardiac Centers, Others), By Geography (North America, Europe, Asia-Pacific, Middle East And Africa, South America, Rest Of The World) – Industry Trends And Forecast To 2024
The actual calculation year for the report in 2016, while the historic data is for 2015 and the forecast period is still 2024.
Global Coronary Stents Market: Recent Developments
The usage of coronary stent devices are increasing in today’s market due to the increase in number of heart diseases and other problems related to the cardiovascular system and also owing to its benefits such as reducing mortality, morbidity among the heart attack patients, improving the flow of blood immediately after heart attack, highly recommended for the heart patients having one or two blocked arteries. The coronary stent devices market will grow in the future because of the unhealthy diet, physical inactivity, unhealthy lifestyle.
The combination of stent with angioplasty is a life saviour when it is performed after a heart attack. There are other benefits to the usage of coronary stent devices such as it can improve further damage to the heart, helps in improving the symptoms related to the heart diseases, shortness of breath and chest pain. There are two engines driving the rapid development of coronary stent devices. The first is the elimination of coronary bypass surgery and it takes less recovery time as compared to the bypass surgery which takes nearly 6 weeks or longer to recover, early diagnosis and treatment of vascular disease.
The second engine is the extensive research carried out both by academic institutions and by manufacturers of coronary stent market. According to British Heart Foundation Cardiovascular Disease Statistics, in 2014 approximately 26% of male and 18% of female premature (under-75s) mortality was attributed to CVD. In total there were almost 42,000 premature deaths from CVD in the UK. According to the WHO, an estimated 17.5 million people died from CVDs in 2012, representing 31% of all global deaths. Of these deaths, an estimated 7.4 million were due to coronary heart disease and 6.7 million were due to stroke. Over three-quarters of CVD deaths take place in low- and middle-income countries. Out of the 16 million deaths under the age of 70 due to no communicable diseases, 82% are in low and middle-income countries and 37% are caused by CVDs.
Whereas the main restraint for the coronary stent market is the strict government policies, unconscionable prices that the patients are paying for the stents which lead them into indebtness and in some cases leaves them without this life-saving treatment, price control on the cardiac stents by the local authority will lead to the halt of introduction of new advanced product in the region, just limited to one or two blocked arteries, for more complex cases of coronary heart disease, bypass surgery is a better choice.
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Global Coronary Stents Market Categories: Segmentation
Global Coronary Stents Market is segmented on the basis of product type, usability, end-user, distribution channel and geography.
On the basis of the type, the market is segmented into dual therapy stent, bioresorbable vascular scaffold (BVS), drug-eluting stent (DES), bio-engineered stent, and bare metal stent. The drug eluting stent market is segmented into biodegradable and non-biodegradable. Also, based on drug, the market is segmented into paclitaxel and limus-based drugs.
Based on application, the market is segmented into coronary artery disease and peripheral artery disease.
On the basis of end-user, the market is segmented into hospitals and cardiac centres.
Global Coronary Stents Market: Geographic Segmentation
The global coronary stents market report contains an in-depth profiling of the key market players, along with the recent developments (New product launches, partnerships, agreements, collaborations, and joint ventures) and strategies adopted by them to sustain and strengthen their positions in the market. Some of the major players operating in this market are Abbott Vascular, SciTech, Boston Scientific Corporation, Minvasys, Medinol Ltd, iVascular SLU, Elixir Medical Corporation, Inspire MD, Stentys SA,Hexacath, Medtronic, Andramed GmbH, Cordis Corporation, Orbusneich, Eurocor GmbH, Comed B.V., Endocor GmbH, MicroPort Scientific Corporation, Amaranth Medical, Inc., Terumo Corporation, Degania Silicone Ltd., Meril Life Sciences Pvt. Ltd., InSitu Technologies Inc., Alvimedica, Biotronik SE & Co. KG, AMG International GmbH, Arthesys, Lepu Medical, Translumina GmbH, Accura, Svelte Medical, B. Braun Melsungen AG and, Eucatech AG among others.
Global Coronary Stents Market: Company Share Analysis
Based on geography the market is segmented into 5 geographical regions, North America, Europe, Asia-Pacific, South America and Middle East and Africa. The geographical regions are further segmented into 24 major countries such as U.S. Canada, Mexico, Germany, France, U.K., Belgium, Switzerland, Belgium, Turkey, Japan, China, Singapore, Brazil, India, Russia, South Africa and many others. In 2017, xxx is expected to dominate the coronary stents market with xxx% market share followed by xxx and xxx.
The global coronary stents market is highly fragmented with various companies operating in local regions. The major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. Some of the examples for these strategies are: On 13th December 2016, Boston scientific corporation acquired advanced biological tissue capabilities into its structural heart business for use in the manufacturing of the product and also for future heart valve technologies.
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