A coronary stent is a tubular structured device made of a thin mesh of wire, which may also be coated with a polymer containing a drug, or made of biodegradable materials. Coronary stents are utilized during percutaneous coronary interventions (PCIs) for the treatment of patients suffering from various coronary artery diseases (CADs) such as acute myocardial infarction, angina pectoris and others. At present, several researches are being conducted in the field of coronary stenting, in order to minimize side effects such as restenosis and thrombosis. Certain new and advanced coronary stents such as bio-absorbable stents have been commercialized in the global market, which demonstrate very less or no common side effects of coronary stenting.
The market for coronary stents can be broadly classified into three major segments, namely, bare metal stents (BMS), drug eluting stents (DES) and bio-absorbable stents. In 2011, the drug eluting stents segment held the largest share of the global coronary stents market, followed by the bare metal stents market. During the forecast period 2013 to 2019, the demand for bare metal stents is expected to be low and its overall growth will be offset by the increasing demand for other stent variants, mainly bio-absorbable stents. The bio-absorbable stents market has been predicted to be the fastest growing segment during the forecast period.
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Some of the major factors that will be responsible for the growth of global coronary stents market during the forecast period include increasing prevalence of various coronary artery diseases, rising demand for new and advanced coronary stents, aging population and increasing obesity rates. According to World Health Organization (WHO) estimates, around 17.3 million people died from cardiovascular diseases in 2008 and it is expected that each year more than 23.3 million people will die due to cardiovascular diseases; this trend is predicted to continue till 2030. Among cardiovascular diseases, CADs are responsible for the highest number of deaths worldwide. However, according to the CDC, U.S., the number of deaths due to CADs has started decreasing due to increase in the number of PCIs being performed by using a range of coronary stents available in the global market.
Abbott Laboratories, Inc., Boston Scientific Corporation, Medtronic, Inc., Johnson & Johnson, Terumo Corporation, B. Braun Melsungen AG, C. R. Bard, Inc., Biotronik SE & Co. KG, amg International GmbH, Cook Medical, Inc., Stentys SA and MicroPort Scientific Corporation are the major companies engaged in the development, manufacturing and commercialization of various types of coronary stents. These players are in constant competition with each other in order to gain a competitive edge over others by introducing new materials or methods into their existing coronary stent products.
North America holds the largest share in the global coronary stents market in terms of revenue. The key factor responsible for the dominance of this region in the global coronary stents market was that the top players of this market are domiciled in the U.S., where they introduce their product and gain early-bird advantage in the market. Europe is the second largest market for coronary stents, followed by Asia-Pacific. The Asia-Pacific region is expected to be the fastest growing regional market for coronary stents. The market growth in this region will be majorly attributed to the increasing incidences of various CADs, high unmet needs of the patient pool, increasing awareness as well as affordability of the patient population of this region and increasing penetration by U.S. and Europe-based coronary stent manufacturers.
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