Coronary Stents Market Size to Hit Around USD 17.2 Bn by 2030

Ottawa, July 27, 2022 (GLOBE NEWSWIRE) -- The global coronary stents market size was valued at USD 10.05 billion in 2022. The factors that have increase the demand for the coronary stents across the developing as well as the developed nations are the increasing geriatric population and the associated cardiovascular diseases. Increased cases of obesity and diabetes due to sedentary lifestyles is also one of the reasons for the growing demand for coronary stents. And the market is also expected to grow further due to the availability of good infrastructure and insurance policies. Flexible reimbursement policies shall drive the market growth in the coming years period increased purchases in the healthcare sector shall drive the market growth for the coronary stands in the developing regions of the world.

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Key Takeaway

• In 2021, North America coronary stents market size was accounted at USD 3.72 billion.
• In 2021, coronary stents product market size was reached USD 2.8 billion.
• In 2021, the Drug-Eluting Stents (DES) segment accounted largest share of 66.4%.
• In 2021, the metallic biomaterial segment reached highest market share.
• North America is anticipated to grow at a CAGR of 5.71% from 2022 to 2030.
  
  

Report highlights

• The demand for the drug eluting stands will grow during the forecast period. Manufacturers India various nations are concentrating on providing novel drugs in this segment. Large scale distribution of these production lead to the market growth in the coming years. Increasing geriatric population has also created a demand for bioresorbable stents.
• The demand for the self-expandable stents shall be more in the coming years as they are more visible as compared to the other type. Deficiency of this type of deployment shall lead to the market growth in the coming years.
• The demand for the coronary stents shall we maximum in the hospitals as a large number of surgeries are performed in the set-up. The availability of various facilities in the hospital and the partnership between the hospital and the companies shall be another reason for the growth of the hospital segment in the coming years. Increased number of the cardiologists in the world shall be instrumental in the growth of the specialty clinics that shall provide such procedures.
  

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Scope of the Report

Regional snapshots

North American region is expected to dominate the market in the coming years. This region had a share of about 33% of the entire market in terms of revenue in the past. It shall continue to grow well in the coming years due to the increased cases of obesity and diabetes. As a larger population in the North American region leads a sedentary lifestyle The market for the coronary stents is expected to grow well for this region. Increased cases of fatalities due to the heart attack as well as stroke shall be another reason for the growing demand. The availability of the advanced technology in the healthcare facility of the United States and other nations of the North American region shall be instrumental for the growth of the market in the coming years period the availability of dissolving stents and the increased use of these stents shall lead to the growth of the market.

Awareness regarding the benefits associated with the use of these stents shall further drive the market growth period the constant research and development activities have provided the market with the materials that are biodegradable and the market is expected to grow well.

Asia Pacific region will also grow well and generate good revenue. The economic growth of the Asia Pacific region shall be one of the factors that shall drive the market growth period the favorable reimbursement policies in the South Korea and Australia shall be instrumental in the growth of the market. in order to provide affordable services and procedures the government is taking initiatives.

Market dynamics

Drivers

The availability of the advanced technologies in the market shall be instrumental for the growing demand for these procedures in the developing as well as the developed nations across the globe. Increased purchasing power and the availability of good infrastructure in the healthcare sector son increase the demand for these procedures in the coming years. Increasing geriatric population and the increased number of cardiovascular diseases in this population shall drive the market growth in the coming years period growing demand for minimally invasive procedures and other benefits associated with the use of coronary stents shall we beneficial for the market growth.

Growing cases of the coronary artery disease and a better way to tackle it through the use of coronary stents shall drive the market growth in the coming years. Innovative products offered in the market by various market players due to constant research and development in the field have provided with completely dissolvable stents and the use of biodegradable stents that shall be instrumental in the growth of the market during the coming years period

Restraints

There are different alternatives available in the market that provide tough competition to the coronary stent's procedure. These treatments are affordable and quite beneficial due to which the market for the coronary stents shall be hampered. The presence of the stringent regulations laid down by the government for the approval of the product shall be another reason for restraining the market growth. These lengthy approval procedures have led to a large number of product recalls and this hampers the growth of the market in the long run. There are also been increased cases of the product failure Which shall be another reason for the hindered growth of the market.

Opportunities

The introduction of the bioresorbable vascular scaffolds shall provide better opportunities for the growth of the coronary stents market in the developing as well as the developed nations the benefits associated with the use of these scaffolds shall play an important role in the growth of the market and provide better opportunities in the coming years. Increasing demand for these procedures in the developing nations whether spending power of the consumers have increased shall serve to be the emerging markets in the coming years.

Challenges

Although the procedure of using the coronary stents in the cardiovascular diseases and other complications of the heart there are a lot of complications that a surgeon faces when it comes to the implantation of the stents. Sometimes there are a few side effects associated with the use of different stents due to which the market for the coronary stents is negatively affected. Another challenge that the market faces is that of the procedures being expensive.

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Recent Developments

• A coronary imaging platform was launched by Abbott in the year 2021, This platform makes use of artificial intelligence and it is launched in order to focus on the efficient detection of the blockages that are calcium based and it also calculates the diameter of the vessel when these procedures are performed.
  
  

Market Segmentation

By Product

• Bare Metal Stents
• Bioresorbable Vascular Scaffold
• Drug Eluting Stents
• Biodegradable
• Non-Biodegradable
  
  

By Deployment

• Self-Expandable
• Balloon expandable

By Biomaterial

• Metallic Biomaterials
• Polymers Biomaterials
• Natural Biomaterials
  
  

By End User

• Hospitals and surgical centers
• Specialty clinics
• Others
  
  

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)
  
  

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