Overview:
The global coronary stents market size in 2017 was USD9382.63 million and from there, it is expected to rise by 7.81% CAGR during the forecast period of 2018 to 2023. Market Research Future (MRFR) predicts that a major coronary stents market share would come from the Asia Pacific region due to their healthcare revamping. They also discussed several market factors like growing acceptance of the prosthesis, reduction in early complications, rising cases with heart conditions, and others as major thrust-provider.
However, the coronary stents market may suffer from its high cost where the disposable income rate is not high and reimbursement policies are not favorable. In developing countries of the Asia Pacific and Latin America, and the poor economies of the Middle East & Africa, this may emerge as a problem.
Segmentation:
The global coronary stents market report, as discussed by MRFR experts, has been segmented into products, and end user. This attempt reveals various factors and dynamics that can be studied to gauge better how the market may move forward in the coming days.
By products, the market report on the coronary stents reveals segments like drug-eluting stents, bare-metal stents, and bioresorbable vascular scaffolds. The drug-eluting stent segment had the largest market share in 2017. Its wider acceptance in the angioplasty procedures and better patient compliance put it far ahead than its competitor containing bare-metal stents. The bioresorbable stents segment is slated to project the fastest CAGR during the forecast period.
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By end users, the detailed study of the coronary stents market includes hospitals & clinics, specialty centers, ambulatory surgical centers, and others. The hospitals & clinics segment had the largest market share in 2017. This is primarily due to the infrastructural benefits and better investment from various companies. The increasing expenditure for the ambulatory services in various developing regions can boost the market outcome substantially.
Regional Analysis:
The American market would enjoy the upper hand in the coronary stents market. Infrastructural support and constant influx of finances would improve the chances of the market getting substantial change in the coming years. North America, with its better healthcare support, is expected to fare better. In South America, Brazil and Argentina will cover good grounds. However, poor economies in the region may restraint the regional market. In Europe, the market would get a boost from government initiatives to promote research and development. Also, better infrastructure would play a positive part in taking the market ahead.
Competitive Landscape:
The global market for coronary stents can be studied on the basis of strategic implementations launched by several companies like Biotronik SE & Co. KG, Abbott, B. Braun Melsungen AG, Stentys SA, C. R. Bard, Inc., Cook Medical, Boston Scientific Corporation, Meril Life Sciences, MicroPort Scientific Corporation, Elixir Medical Corporation, Medtronic plc, and Terumo Corporation. These companies have several technical moves in their arsenal that may boost the revenue-generation process. These means are mergers, coalitions, acquisitions, and others. Rising investment in the research and development sector is expected to trigger the market expansion rate. This is primarily due to the resultant launching of innovations and it will help companies in capturing markets.
Industry News:
In April 2020, researchers presented a report on the TICO trial where the ticagrelor monotherapy has been shown as a provider of greater benefit in its treatment regarding drug-eluting stent (DES) for the acute coronary syndrome (ACS) than ticagrelor-based dual antiplatelet therapy. It reduces risks of adverse cardiac and cerebrovascular events by 34% and of bleeding by 44%. The coming years may find better acceptance of the process.
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