New York, Aug. 26, 2019 (GLOBE NEWSWIRE) -- High prevalence of coronary artery disease, changes in lifestyles and a rise in the geriatric population are the key factors contributing to the CAGR in the forecasted period.
According to the current analysis of Reports and Data, the global Coronary Stents market was valued at USD 8.30 Billion in 2018 and is expected to reach USD 15.37 Billion by the year 2026 at a CAGR of 7.9%. Stents are small expandable tubes that are used to treat narrowed or weakened arteries. A coronary stent is a small mesh tube that holds open passages in the body such as weak or narrow arteries. It is a small tube shaped device placed in the coronary arteries, which supply blood to the heart, to keep the arteries open in the treatment of coronary heart diseases. The coronary stents are used in almost all the percutaneous coronary intervention (PCI) procedures. Stents reduce chest pains and have been proven to have improved chances of survival and decrease adverse events in the acute myocardial infraction. Coronary Stents market is continuously growing. With the rising advancements and launch of new products, there is huge scope to the product.
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Further key findings from the report suggest
- Minimal invasiveness has been attracting the attention of many in the recent times. Since Coronary Angioplasty is one of the types of minimal intrusive treatments, there has been a spur of growth in the demand for this procedure. Increasing cases of coronary artery diseases, has triggered research and development initiatives to develop several innovative solutions for the treatment purposes, which lays a foundation for future growth.
- Hospitals dominate the market with a market share of 63%. This is due to the extensive facilities offered in hospitals.
- The coronary stents are of two types in terms of delivery. These include, balloon expandable stents and self-expandable stents.
- The existence of alternatives for coronary angioplasty has also become a restraining factor for the coronary stents market. These alternatives include procedures such as Atherectomy, Laser angioplasty, coronary artery bypass etc.
- Recent developments have encouraged the market to the very large extent. For instance, the recent launch of Dual Therapy Stents (DTS) is a one of its kind type of stent. The DTS is a combination of Drug Eluding Stents and Bio-engineered Stent. It has a coating on the inside as well as outside making the chances of blood clots, inflammations and tissue injuries less likely. The DTS is seen to grow at a rate of 8.8%.
- Among the types of stents, Drug Eluting Stents, being the most time tested type of stents, dominate the market. They are the considered to be the safest and the most time tested among all the other types of stents. They are expected to grow at a rate of 7.7%.
- North America dominates the market with the highest market share. The changing dietary habits and cases of obesity have led to an increase in the cases of CAD i.e. Coronary Artery Disease. The market is expected to grow at a CAGR of 7.7%.
- Europe follows North America closely and holds the highest market share amounting to 30.4%. This can be attributed to the rising technological advancements in the region. The region is expected to register a CAGR of 7.6%.
- Asia Pacific is seen to be the fastest growing region with a CAGR of 8.7%. This can be attributed to the increasing geriatric population in the region and the rising cases of Coronary Artery Disease. Several governments in this region have taken initiatives to make medical facilities and surgical procedures affordable. Asia Pacific holds a market share of around 26.6%.
- The key players of the market include Boston Scientific Corporation, Medtronic Plc, Abbott Laboratories, B. Braun Melsungen AG, Vascular Concepts, Stentys SA, Biosensors International Group Ltd. and Orbus Neich.
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Segments covered in the report:
For the purpose of this report, Reports and Data has segmented the Coronary Stents market on the basis of type, material, end use and region:
By Type (Revenue, USD Million; 2016–2026)
- Dual Therapy Stents
- Drug Eluting Stents
- Bio-engineered Stents
- Bare Metal Stents
- Bioresorbable Vascular Scaffold (BVS)
By End Use (Revenue, USD Million; 2016–2026)
- Hospitals
- Ambulatory Surgical Centers
- Cardiac Centers
By Material (Revenue, USD Million; 2016–2026)
- Metal
- Polymer
- Copolymer
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Regional Outlook (Revenue in USD Million; 2016–2026)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Brazil
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