With the rising demand for drug eluting stents, the global coronary stents market is prognosticated to witness rapid growth in the coming years. As per the report, the market is expected to reach a value of US$ 8,414.5 Mn by 2025, from US$ 5,244.9 Mn in 2017, with a promising CAGR of 6.1%.
“Increasing Demand for Self-Expandable Stents to Augment the Coronary Stents Market Growth”
Manufacturers have introduced next generation drugs in the drug eluting stents segment. The widespread distribution of drug eluting systems around the world is likely to help this segment emerge dominant. In 2017, the drug eluting stents systems segment accounted for 65.8% share in the market. This segment is also expected to continue dominating the market during the forecast period.
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Similarly, the self-expandable stents segment will show faster growth among other segments based on deployment. This is owing to the expansion of the regional and local markets for coronary stent material across the globe. In addition to this, clinically proven efficiency of self-expandable stents as compared to its counterparts will boost the coronary stents market. Technological advancements in the market, such as error reduction, enhanced workflow, and additional capabilities along with improved accuracy, are helping the market to witness remarkable growth.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• Biotronik SE & Co. KG
• Cardinal Health
• C. R. Bard, Inc.
• MicroPort Scientific Corporation
• Terumo Corporation
• B. Braun Melsungen AG
• Boston Scientific Corporation
“Unhealthy Lifestyle and Food Habits, Causing Cardiovascular Disorders, Augmenting Market Growth”
Rising geriatric population and their vulnerability towards various diseases are creating the need for medical aids such as coronary stents. Rising prevalence of cardiovascular diseases will also augment the Coronary Stents Market during the forecast period.
According to the Centre for Disease Control and Prevention, about one-third of the population in the U.S. is obese. The change in lifestyle such as physical inactivity, smoking, drinking, and mistimed and unhealthy food habits are among the major reasons leading to health problems such as obesity, hypertension, arterial blockage, and others.
Such problems further cause vascular disorders and thus fuel the demand for coronary stents. Increasing fatalities due to coronary artery disease has fueled the demand for coronary stents across all health centers and hospitals worldwide.
“Price Capping System in India, Propelling Asia Pacific to Emerge as Fastest Growing Market”
The presence of a majority of manufacturers in Canada and the U.S. has enabled the North America coronary stent market to e merge dominate. Besides this, the increasing prevalence sedentary lifestyle among people in several developed countries is also fueling demand for coronary stents in the regional market, thus making North America the leading region in the global Coronary Stents Market.
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As per Fortune Business Insights, the North America Coronary Stents Market was valued at US$ 1,616.2 Mn in the year 2017. It is expected to continue leading the market in the years. Additionally, Asia pacific is anticipated to show rapid growth during the forecast period because of the improved supply chain of coronary stents across pharmacies across hospitals in the region, especially in developing regions of India and China.
In order to improve their accessibility, India has capped prices of coronary stents, and this will be a key factor fueling demand in the long run. Such factors will help the Coronary Stents Market in Asia Pacific to emerge as the fastest growing region.
• Ambulatory Surgical Centers
• Specialty Clinics
• Catheterization Labs
• North America (USA and Canada)
• Europe (UK, Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)
• Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)
• Latin America (Brazil, Mexico and Rest of Latin America)
• Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)