Market Highlights
Factors such as the increasing prevalence of heart diseases and rising therapeutics demand are estimated to drive the market growth during the forecast period. Additionally, advancements in diagnostic and treatment technologies boost the market. However, low awareness and lack of healthcare services in the middle and low-income countries are estimated to restrain the market growth during the projected period.
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Coronary Stent Market Overview
Coronary stents are a small tube-like device that is placed into the coronary arteries of a patient in order to keep the arteries open in the coronary heart disease treatment and prevent the same from any kind of blockage. It is used for broadening the narrowed arteries and helps curb-down chest pain and the chances of heart attack. According to the recently published report by the team of Market Research Future (MRFR), the global coronary stent market is projected to grow at a rate of 7.8% during the review period.
The market is identified to be driven by a number of factors, including the wide-spread prevalence of heart-related diseases and a proliferating demand for diagnosis and treatment methods. Additionally, the growing availability of diagnostic services for coronary heart diseases is also pushing the growth of the market. A growing percentage of positive outcomes with stenting and the emergence of a number of advancing technologies in the coronary artery field is adding to the market growth of the device. It is also worth noting that alternative treatment methods for curing coronary artery diseases and a number of product recall cases are likely to hinder the market growth of coronary stents.
Coronary Stent Market Segmentation
Global coronary stent market segmentation is classified on the basis of mode of delivery, type, material, and end-user.
By type, the market segments into drug-eluting stents, bioabsorbable stents, and bare-metal stents.
By material, the market comprises cobalt chromium, metallic stents, stainless steels, platinum chromium, nickel titanium, and others.
By end-user, the market includes hospitals and clinics, ambulatory surgical centers, cardiac centers, and others.
By mode of delivery, the market divides into self-expanding and balloon-expandable stents.
Coronary Stent Market Regional Analysis
The regional analysis of the global
Coronary Stent Market share segments into North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa.
North America is the dominant region of the lot and is primarily driven by the surging patient population suffering from coronary heart diseases, an increasing pool of geriatric population, and growing investments in the healthcare sector. Latin America, on the other hand, is slated to be one of the fastest growing regional market owing to the rising demand for coronary heart disease treatment options and the availability of technologically advanced devices for diagnosis purposes.
With Germany and the UK being the major contributors, the European coronary stent market is expected to flourish in the forthcoming years. An increasing emphasis on the diagnosis and treatment of heart and other related diseases has majorly driven the market in this region. The increasing healthcare expenditure is another key contributor to the market’s growth.
Asia-Pacific stands out as the fastest growing market amongst all the mentioned regions. This projection can be primarily attributed to the increasing prevalence of cardiovascular diseases and a rising focus on performing early diagnosis and treatment of heart diseases. The Middle East & African region is forecasted to exhibit a slow and steady rise in the growth ladder. The regional market is starting to show positive signs with an increasing number of healthcare facilities offering treatments for chronic diseases and an increasing growth of the medical device sector, especially for diagnostic devices. In Africa, increasing awareness concerning coronary heart diseases is pushing the market growth herein.
Coronary Stent Market Competitive Landscape
The market includes some highly noteworthy players including B. Braun Melsungen AG (Germany), MicroPort Scientific Corporation (China), Vascular Concepts (India), Terumo Corporation (Japan), BIOTRONIK SE & Co. KG (Germany), Translumina GmbH (Germany), Biosensors International Group, Ltd. (Singapore), Meril Life Sciences Pvt. Ltd. (India), Elixir Medical Corporation (U.S.), Boston Scientific Corporation (U.S.), STENTYS SA (France), Medtronic plc (Ireland), Abbott Laboratories (U.S.), Reva Medical Inc. (U.S.), and others.
Coronary Stent Industry Overview
Feb 8th, 2019, CeloNova BioSciences, Inc. (CeloNova), an innovative global medical device leader, announced the signing of a three-year group purchasing agreement with HealthTrust for their new game-changing Coronary Stent named COBRA PzF(TM) NanoCoated Coronary Stent (NCS) System.
Feb 22nd, 2019, Biotronic announced the approval of Osiro, an ultrathin-strut coronary stent, from the US Food and Drug Administration for the treatment of coronary artery disease. It was approved in Europe eight years back and has been implanted upon millions of patients globally.
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