A coronary stent is a small cylindrical device used during percutaneous coronary intervention (PCI). Coronary stents help relieve the symptoms of coronary heart disease by reducing blockages and improving blood flow to the heart. They are beneficial for patients suffering from coronary artery diseases such as myocardial infarction and unstable angina. The global coronary stents market is estimated to be valued at US$ 11.32 Bn by 2026, registering a CAGR of 6.6% over the forecast period.
Increasing prevalence of cardiovascular diseases expected to drive overall market growth
The global coronary stents market is driven by an increasing occurrence of lifestyle diseases such as obesity and cardiovascular diseases such as angina pectoris and ischemic heart disease especially in developed countries. Also, an increasing meditech progress in the cardiovascular field is expected to drive the growth of the global coronary stents market during the forecast period. Cardiologists the world over prefer advanced stenting procedures and this is another important factor boosting market growth. However, various complications and risks associated with stenting procedures and high costs of drug eluting stents is expected to adversely affect the revenue growth of the global coronary stents market over the forecast period.
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|By Product Type||By Raw Material||By End Use||By Region|
Drug Eluting Stent product type segment estimated to account for significant market share by 2016 end
The Drug Eluting Stent segment is anticipated to account for 75.6% value share of the global coronary stents market by the end of 2016. This segment is expected to register a CAGR of 6.8% in terms of value over the forecast period. The Bioresorbable Vascular Stent segment is projected to register a CAGR of 9.4% between 2016 and 2026 and reach a market valuation of US$ 1,617.6 Mn by 2026.
Polymer raw material segment likely to be the most lucrative segment
The Polymer segment is expected to register high Y-o-Y growth throughout the forecast period and is expected to be valued at US$ 4,215.6 Mn by 2026, registering a CAGR of 9.2% during the forecast period. The Cobalt Chromium segment is estimated to account for 21.4% market share of the global coronary stents market by the end of 2016.
Hospitals end use segment expected to dominate the global coronary stents market in terms of value
The Hospitals segment is estimated to be valued at US$ 7,851.8 Mn by 2026, registering a CAGR of 6.3% during the forecast period. The Cardiac Catheterisation Laboratories segment is estimated to account for 19.8% revenue share by 2016 end.
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APEJ market likely to register significant Y-o-Y growth throughout the forecast period
The APEJ coronary stents market is expected to hold 36.8% revenue share of the global coronary stents market by 2026. The APEJ market is expected to witness a CAGR of 8.0% during the forecast period. The North America market is anticipated to account for 29.2% market share of the global coronary stents market by 2016 end. Revenue from the North America market is projected to register a CAGR of 6.9% during 2016–2026, to reach a market valuation of US$ 3,426.0 Mn by 2026.
Global coronary stents market players are focussing on product innovation and geographical expansion to augment market share
Terumo Corporation, Boston Scientific Corporation, Medtronic, Vascular Concepts, B. Braun Melsungen AG, Biotronik SE & Co. KG, Abbott Laboratories, Biosensors International Group, Ltd., Hexacath, and Stentys SA are some of the top companies operating in the global coronary stents market. Key market players are focussing on increasing their footprints in emerging markets such as Asia Pacific and are expanding their manufacturing facilities and distribution network to gain a larger share of the global coronary stents market.
Abbott Laboratories, Medtronic, and Boston Scientific Corporation emerged as the market leaders in the global coronary stents market for both the Drug Eluting Stent and Bare Metal Stent segments in 2015. The top three market players are estimated to hold more than 70% revenue share of the global coronary stents market in 2016. Abbott Laboratories accounted for the largest share in the global coronary stents market in 2015. Boston Scientific Corporation held maximum revenue share in Brazil in 2015. The company has a strong foothold in the domestic market of Latin America, particularly in the rapidly growing cardiovascular devices market in Brazil and other emerging countries.