SELBYVILLE, Del., Nov. 6, 2019 /PRNewswire/ -- The World Coronary Stents Market is projected to reach over USD 8 billion by 2025, according to a new research report by Global Market Insights, Inc. Increasing coronary artery diseases coupled with growing demand for minimally invasive surgeries will boost the market growth.
Increasing prevalence and recurrence rate of cardiovascular disorders across the globe will prove beneficial for industry growth across the forecast timeframe. Coronary heart disorder is a medical condition where the patient's blood circulation to the heart is interrupted due to deposition of fatty plaques in the artery walls. It is the most common heart disorder that affects millions of people across the world. Hence, increasing prevalence of heart diseases will significantly drive the market growth.
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Increasing technological advancements associated with coronary stents, such as bifurcated stents and use of biodegradable materials are expected to prompt a rise in the market value. Major players operating in the market are focusing primarily on design innovations to modify the stents as per patient's condition. For instance, in February 2018, Medtronic plc announced the launch of Resolute Onyx 2.0 mm Drug-Eluting Stent (DES); the smallest DES in the coronary stents market. Such technological innovations will positively boost product demand, thus augmenting industry growth. However, stringent regulatory scenarios in developed countries coupled with post-surgical complications will limit industry growth up to a certain extent.
Some major findings of the coronary stents market share report include:
- Increasing prevalence of cardiovascular disorders across the globe will serve as a high impact rendering factor for coronary stents market growth
- Technological advancement in stents along with growing inclination towards minimally invasive techniques will ensure quick patient recovery and offer better healthcare outcomes
- Major players operating in the coronary stents industry include Abbott, B. Braun Melsungen AG, Biosensors International Group, Boston Scientific Corporation, and Medtronic plc
- Competitors focus on design innovations to modify the stents as per patient's condition and capitalize on market opportunities to gain competitive edge over others
Coronary stents are bifurcated into drug eluting stent, bare metal stent and bioresorbable vascular scaffold. Bare metal stent segment accounted for USD 506.5 million in 2018 and will witness significant growth during the analysis timeframe. Bare-metal stent is without a covering or coating and were the first stents licensed for use in cardiac arteries. These stents reduce the risk of stent thrombosis after a heart bypass. Moreover, the increasing prevalence of coronary heart disorders across various regions of the world will further propel segmental growth.
Browse key industry insights spread across 120 pages with 114 market data tables & 9 figures & charts from the report, "Coronary Stents Market Size By Product (Drug Eluting Stent, Bare Metal Stent, Bioresorbable Vascular Scaffold), By End-Use (Hospitals, Cardiac Centers, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Japan, China, India, Australia, Brazil, Mexico, South Africa, Saudi Arabia), Price Trends, Application Potential, Competitive Market Share & Forecast, 2019 - 2025" in detail along with the table of contents:
End-use segment is classified into hospitals, cardiac centers and ambulatory surgical centers. Hospital segment held around 40% revenue share in 2018 and is poised to show tremendous growth during the forthcoming years. Hospitals that meet percutaneous coronary intervention safety standards are allowed to perform stent implantations. Strict guidelines are followed with optimal safety for such procedures. Hence, the presence of safety standards and cost efficiency in government hospitals will boost segmental growth.
The German market is estimated to witness a lucrative growth of 3.0% across the analysis period. High growth is attributable to an increasing prevalence of cardiovascular diseases. Moreover, an increasing rate of heart surgeries will further augment business growth. For instance, as per statistics, in 2016, around 51,000 heart bypasses were conducted in Germany. Also, a rising number of ambulatory surgical centers in European countries is another chief factor propelling business growth.
A few notable companies operating in the coronary stents market include Abbott, B. Braun Melsungen AG, Biosensors International Group, Biotronik, Boston Scientific Corporation and Medtronic plc. Industry players are implementing numerous strategies to expand the geographic presence and strengthen market position. For instance, in January 2019, Terumo announced the completion of their acquisition of Essen Technology, a China-based company specialized in providing drug-eluting stents. This new acquisition will enable Terumo to expand its market in China and strengthen their Asia Pacific market presence.
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Stent Market Growth 2025: Bioresorbable stents industry will grow at 7.8% over the projected period. Bioresorbable stents get absorbed in the body after serving its purpose thereby lowering the necessity of further surgery for stent removal in the future. Some of the key industry players operating in the global market are Medtronic, Boston Scientific, Abbott Laboratories, Terumo, C R Bard, B. Braun Melsungen AG, Biosensors International Group, Biotronik SE & Co. KG, Meril Life Sciences, MicroPort Scientific Corporation and Elixir Medical Corporation.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Coronary Stents Market Statistics 2025
Coronary Stents Market is set to achieve over 5.4% CAGR up to 2025, on account of various technological advancements followed by numerous government initiatives to increase adoption of coronary stents.
SOURCE Global Market Insights, Inc.