The coronary stents consist of minute tubes used for the treatment of coronary heart disease in order to open the much-narrowed arteries. These stents are further applicable by a procedure called as percutaneous coronary intervention (PCI) or angioplasty. These coronary stents are further placed inside the coronary artery in angioplasty. These stents further assist in preventing the artery from again being blocked.
According to study, “Global Coronary Stent Market to reach USD 14.7 billion by 2026” the key companies operating in the global coronary stent market are Medtronic PLC, Abbott Laboratories, Boston Scientific Corporation, Biosensors International Group, Ltd., Biotronik SE & Co. Kg, B. Braun Melsungen AG, Terumo Corporation, Stentys SA, Microport Scientific Corporation, Meril Life Sciences Pvt. Ltd. The key companies are consists of various strategic collaborations in order to increase their market share, associated to new product launch, strategic collaborations, and the regional product launches.
Based on type, coronary stent market is segmented as Drug Eluting Stents (DES), Bare Metal Stents (BMS) and Bioresorbable Vascular Scaffold (BVS). DES segment is further sub-segmented as biodegradable and non-biodegradable. DES segment dominates the market owing to rise in adoption of sedentary lifestyle that lead to lifestyle diseases such as atherosclerosis. BVS segment is estimated to witness higher growth rate due to reduction in complications such as thrombosis and inflammation, improved abnormal endothelial functions and increase in ability to restore normal vasomotion during the forecast period. Based on mode of delivery, market is segmented as self-expanding stents and balloon-expandable stents. The balloon expandable stents segment is anticipated to grow at the highest CAGR because of increase in research activities to improve this technology, and growth in regulatory approvals for balloon-expandable stents during the forecast period. Based on material, market is segmented as platinum chromium, metallic stents, nickel titanium, cobalt chromium, stainless steel and other stents. In addition, based on end-user, market is segmented as Ambulatory Surgical Centres, cardiac centres, hospitals and others. The cardiac centers further include the medical centers and heart institutes which are specifically focusing on the cardiovascular treatments.
The coronary stent market is driven by rise in prevalence of coronary heart disease, followed by emergence of newer trend in the field of coronary stents, improved insurance and reimbursement and improved clinical outcomes with stenting. However, high cost of treatment associated with stent implants, stringent approval process for stents and availability of alternative treatment methods for coronary heart disease may impact the market. Moreover, introduction of bioresorbable Vascular Scaffolds is a key opportunity for market.
Based on geography, the North-American is the leading region in global coronary stent market owing to increase in geriatric population coupled with growth in adoption of coronary stents in the PCI procedures in the region. Whereas, the Asian-Pacific and European regions are anticipated to exhibit higher growth rate due to growth in improvement in healthcare infrastructure over the forecast period. The global coronary stent market is valued approximately at US $8.2 billion in 2018 and is expected to grow with a healthy growth rate of more than 7.6% over the forecast period 2019 to 2026.
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Ankur Gupta, Head Marketing & Communications