Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
The Global Coronary Stents Market, by Product Type (Bare-metal Stents, Drug-Eluting Stents, and Bioabsorbable Stents), By Material (Metallic (Stainless Steel, Silicon Carbide, Titanium Nitride Oxide, Cobalt-Chromium, Platinum Chromium, and Others) and Polymeric (Non-degradable / Permanent Stents and Degradable / Temporary Stents)), by End User (Hospitals, Specialty Clinics, and Ambulatory Surgical Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 7,814.4 million in 2018 and is projected to exhibit a CAGR of 6.8% over the forecast period (2018 – 2026).
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The treatment of narrowed arteries can be carried out by using coronary stents, which are small wired mesh-like medical interventional devices. The coronary stents market growth is driven by rising incidence of coronary blockage and changes in lifestyle from physically active to sedentary lifestyle, which results in rising accumulation of cholesterol. For instance, according to World Health Organization (WHO) 2017 survey, the global prevalence of obesity increased by three times between 1975 and 2016. The trajectory growth of this market is owing to rising number of product launches in the market. Due to intense competition and pricing pressure, manufacturers are compelled to develop cost-effective and innovative stents. For instance, in 2017, Medtronic received approval for Onyx drug eluting stents from the U.S. FDA for the treatment of coronary artery disease in adults. In the same year, the company also received approval for cobalt chromium coronary stent system, known as Pro-Kinetic energy stents after BIOHELIX-I studies. Furthermore, in 2017, Cordis launched two products: the Tryton Side Branch Stent and Medinol’s NIRxcell, a cobalt-chromium bare metal stent (BMS) under comprehensive interventional cardiology portfolio at 29th Transcatheter Cardiovascular Therapeutics Symposium. Such product launches in symposiums and conferences are expected to increase its exposure to healthcare professionals and distributors, which will further increase customer base of the company.
Key players in the market are adopting inorganic growth strategies such as mergers and acquisitions, which is driving growth of the coronary stents market. For instance, in February 2018, Stentys confirmed its rights to acquire MINVASYS, a France-based cardiovascular disorder solutions specialist, with the objective of accelerating its development and establishing a benchmark in interventional cardiology market.
Browse Market Data 32 Tables and 30 Figures spread through 155 Pages and in-depth TOC on “Coronary Stents Market, by Product Type (Bare-metal Stents, Drug Eluting Stents, and Bioabsorbable Stents), by Material (Metallic (Stainless Steel, Silicon Carbide, Titanium Nitride Oxide, Cobalt Chromium, Platinum Chromium, and Others) and Polymeric (Non-degradable / Permanent Stents and Degradable / Temporary Stents)), by End User (Hospitals, Specialty Clinics and Ambulatory Surgical Centers), and by Region – Global Forecast to 2026”
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Key takeaways of the Coronary Stents Market:
- The global coronary stents market is expected to exhibit a CAGR of 6.8% during the forecast period (2018 – 2026). This is attributed to rising competition among market players to launch new products in the market.
- Among product type, bare-metal stents segment held largest share. This is attributed to wide product range and its applications. Bare metal stents are oldest type of coronary stents that are available in different metal and its alloys.
- Among material, polymeric stents segment is expected to exhibit the highest CAGR over the forecast period. This growth is due to its benefits over metallic stents, which results in more product launches. The usage of metallic stents lead to complications such as thrombosis or hyper-reactivity, which are less common in polymeric stents, as they are more biocompatible.
- Key players operating in the global coronary stents market include Boston Scientific Corporation, Abbott Laboratories, Medtronic plc, B. Braun Melsungen AG, Stentsy SA, Terumo Interventional Systems, Kyoto Medical Planning Co., Ltd., QualiMed, Elixir Medical Corporation, ENDOCOR GmbH, BIOTRONIK SE & Co. KG, Amaranth Medical, Inc., and Arterial Remodeling Technologies SA.
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