A coronary stent is a small, mesh-like metal tube that expands in the coronary arteries. The stent is used to open a blocked or narrowed blood vessel that supplies oxygenated blood to the heart. These stents are inserted into the clogged or narrowed artery and then expanded with the help of a balloon catheter to open coronary arteries and lower the chances of heart attack. As per the clinical guidelines, patients with more than 70% of the artery blockage are only eligible for coronary stents. Numerous upgradations have been incorporated to improve the treatment outcome after the introduction of first coronary stent. With introduction of drug eluting stents, the limitations of conventional bare metal stents were resolved.
Coronary Stent Market: Key Players
The research study includes profiles of leading companies operating in the global Coronary Stent market. Key players profiled in the report include: Medtronic plc., Abbott Laboratories, Boston Scientific Corporation, Biosensors International Group Ltd., BIOTRONIK SE & Co. KG, B. Braun Melsungen AG, Terumo Corporation, STENTYS SA, MicroPort Scientific Corporation & Meril Life Sciences Pvt. Ltd.
Drivers for the Global Coronary Stent Market:
The major drivers of the market are rising burden of coronary artery disease in the United States, Increasing demand for minimally invasive procedures, Technological advancements in developed economies, Pricing control of coronary stents in Asia Pacific region & Rising geriatric population in developing economies are the factors driving the growth of the coronary stent market. While favorable government policies, price control, large patient population of coronary heart disease is propelling adoption of coronary stents.Thus all these factors are boosting the growth of the coronary stents market.
Opportunities for the Global Coronary Stent Market:
Pervasiveness of coronary artery diseases (CAD) and rising demand for percutaneous coronary intervention (PCI) procedures will propel cardiovascular stents business growth. While the Major causes of coronary artery diseases (CAD) include adoption of unhealthy diet and sedentary lifestyle. Hence the Growing prevalence of coronary artery diseases (CAD) will lead to high adoption rate of coronary stents during percutaneous coronary intervention procedures. Also, with advancements in the treatment outcome of percutaneous coronary intervention procedures due to development of advanced stents, the market is estimated to show positive growth trajectory in the future.
Restrains for the Global Coronary Stent Market:
The product recall due to safety issues along with few post-surgery complications will limit the market growth. Also, death of skilled healthcare personnel and infrastructure in developing economies will further limit market growth. While, stringent regulatory scenario in developed countries are hampering the growth of the market. Additionally, the product failure is the major factor restraining the growth of the market. Thus all these factors are restraining the growth of the coronary stent market.
Region Wise, Global Coronary Stent Market Analysis:
Report covers the region wise analysis, global Coronary Stent market can be segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Among all, Asia Pacific leads the global Coronary Stent market share followed by North America & Europe. While the Asia Pacific leads the global Coronary Stent market due to the factors such as favorable government policies, price control, large patient population of coronary heart disease is propelling adoption of coronary stents. For example in India, National Pharmaceutical Pricing Authority (NPPA) capped prices of both bare metal stents and drug eluting stents. This led to tremendous adoption of coronary stents by the patients due to the revised and affordable prices. Thus this policy change will further encourage local manufacturers to develop novel products, thus fostering cardiovascular stents market growth.
Global Coronary Stent Market: Product analysis
- Bare Metal Stents (BMS)
- Drug Eluting Stents (DES)
- Bioresorbable Vascular Scaffold (BVS)
Global Coronary Stent Market: Application analysis
- Cardiac Centers
- Ambulatory Surgical Centers
Global Coronary Stent Market: Region analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of L.A.
- Middle East and Africa
- South Africa
- Rest of Middle East
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