The coronary stent market has been segmented by product type into Drug Eluting Stent, Bare Metal Stent and bioresorbable vascular stent, out of which drug eluting stents are anticipated to dominate the overall coronary stent market by achieving highest market share in terms of sales by the end of 2023. This can be attributed to its high mortality rate and low probability of complications. Implementation of stenting over bypass heart surgery as it is a comfortable procedure for heart patients combined with the fact that it can be performed with the help of local anesthesia and low sedation are the factors that are driving the growth of coronary stent market.
The global coronary stent market was accounted at USD 8.6 Billion in 2015 and is estimated to reach significant market valuation by the end of 2023. This can be attributed to rising cases of cardiovascular disorders around the globe. Further, the coronary stent market is expected to grow with compound annual growth rate of 6% over the forecast period.
In terms of region, North America is anticipated to dominate the global coronary stent market owing to rising demand for coronary stents and large patient population in the region. Further, Asia Pacific coronary stent market is anticipated to grow with strong CAGR during the forecast period owing to rising awareness of coronary stent treatment among the heart patients and growing expenditure in the healthcare sector.
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Growing Demand for Stents with Rising Prevalence of Coronary Heat Diseases
Factors such as growing obese & old age population, rise in hypertension, spiked consumption of alcohol combined with growing healthcare expenditure and improved medical facilities is expected to benefit the expansion of coronary stent market around the globe. Further, numerous awareness campaigns conducted by government is believed to supplement the growth of the market.
The report titled “Coronary Stent Market: Global Demand, Growth Analysis & Opportunity Outlook 2023” delivers detailed overview of the coronary stent market in terms of market segmentation by product type, raw material, by end use and by region.
However, regulatory issues and complications with implantation of stents are likely to inhibit the growth of the coronary stent market in the near future.
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Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the coronary stent market which includes company profiling of Terumo Corporation, Boston Scientific Corporation, Medtronic, Vascular Concepts, B. Braun Melsungen AG, Biotronik SE & Co., Abbott Laboratories, Biosensors International Group Ltd., Hexacath and Stentys SA.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the coronary stent market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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