NEWARK, Del, Oct. 24, 2022 (GLOBE NEWSWIRE) -- The global coronary stents market is expected to reach a valuation of US$ 51.2 Mn in 2032 while the market expands at a moderate CAGR of 5.1% during 2022-2032. In 2022, the target market will reach an estimated value of US$ 33.36 Mn. Owing to the rising geriatric population as well as the increasing prevalence of cardiovascular diseases, and lifestyle diseases like diabetes, obesity and other medical conditions, the coronary stents market will experience notable growth during the forecast period.
The rising awareness of benefits associated with stenting procedures such as significant improvement of blood flow and protection from further damage to the heart muscle contribute to the target market growth. Stenting also helps in improving the symptoms of heart disease, including angina and shortness of breath which, in turn, reduces the need for coronary bypass surgery. Hence, stenting is often preferred by surgeons as well as patients since it is a minimally invasive procedure and the post-operative recovery period is relatively short.
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Furthermore, a rise in the global geriatric population is leading to a larger patient pool with serious cardiovascular diseases. Again, hypertension is arising as a grave public health concern. Obesity, too, adds to this burden as one of the primary risk factors accountable for different cardiovascular diseases worldwide.
Coronary stenting is prescribed to patients who are suffering from coronary artery blockage. Though angioplasty is the first line of treatment for patients with acute coronary artery blockages while the number of patients undergoing stenting has been increasing steadily over the last ten years. This is owing to the rise of outpatient coronary stenting procedures, which shortens long hospital stays. Additionally, a large number of cardiologists prescribing stenting procedures for patients with CAD is a prime factor that will likely fuel revenue growth of the coronary stent market during the forecast period.
“Increasing cases of lifestyle diseases like obesity and diabetes often result in heart issues which, in turn, supplements the global growth of the coronary stents market over the forecast period,” says an FMI analyst.
Key Takeaways:
- Rising awareness of the benefits associated with stenting will strengthen market prospects.
- Prevalence of alternative treatment methods, product failure, and recalls are certain factors that may hamper market growth.
- Growing cases of coronary artery diseases propel the coronary stent market in the United States.
- Favorable government support for the healthcare sector will present new market opportunities in China.
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Competitive Landscape
Abbott, Medtronic, Boston Scientific Corporation, Terumo Corporation, B Braun Melsungen AG, Biotronik, Stentys SA, MicroPort Scientific Corporation, C. R. Bard, Inc., and Cook Medica among others are some of the major players in the coronary stents market profiled in the full version of the report.
Key market players are focusing on product upgradation and offering new features to meet the rising consumer demand. These organizations are employing strategies like new product releases, partnerships, collaborations, mergers, and acquisitions to gain a competitive advantage.
More Insights into Coronary Stents Market Report
In its latest report, FMI offers an unbiased analysis of the global coronary stents market, providing historical data from 2016 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of product type (drug eluting stent (DES), bare metal stent (BMS), bioresorbable vascular stent (BVS)), raw material (cobalt chromium, stainless steel, platinum-chromium, nickel-titanium, polymer), end user (hospitals, ambulatory surgical centers, cardiac catheterization laboratories), and region.
According to the latest FMI reports, based on region, China’s coronary stent market will likely exhibit an impressive growth rate during the observation period due to favorable government support for the healthcare sector. The coronary stent market in the United States is anticipated to demonstrate substantial growth over the forecast period.
The rising prevalence of coronary artery disease is spurring the demand for interventional cardiology treatment in this country. Sedentary lifestyles, smoking, poor dietary habits, and pollution often contribute to increasing cases of cardiovascular diseases. All of these factors are expected to drive the demand for the target market during 2022-2032.
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Table of Content
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Coronary Stents Market Introduction
4.1. Market Definition
4.2. Market Taxonomy
5. Coronary Stents Market Analysis Scenario
5.1. Coronary Stents Market Size (US$ Mn) and Forecast
5.1.1. Market Size and Y-o-Y Growth
5.1.2. Absolute $ Opportunity
5.2. Coronary Stents Market Overview
5.2.1. Value Chain
5.2.2. Epidemiology of Cardiovascular Diseases
5.2.3. Key Regulations and Reimbursement Scenario
5.2.4. PEST Analysis
6. Coronary Stents Market Dynamics
6.1. Macro-economic Factors
6.2. Drivers
6.2.1. Supply Side
6.2.2. Demand Side
6.3. Restraints
6.4. Opportunity
6.5. Trends
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