As per analysts at Zion Market Research, the global coronary stents market is anticipated to attain over USD 9,957.58 million by the end of 2026, developing at a CAGR of 9.4% during the forecast period 2020–2026. A coronary stent is a tiny tube that is commonly used to open blocked or narrowed artery throughout percutaneous coronary intervention (PCI) procedure. This treatment process involves placing a balloon-tipped tube—also known as a catheter—into an artery and is carried toward the blockage. Also, the stent inflates and creates a scaffold after inflation of the balloon, keeping the artery open, and thus enhancing the blood flow toward the heart. Coronary stents are used in treating cardiac diseases like coronary artery disease (CAD), myocardial infarction, and angina pain. There is a significant rise in the demand for coronary stents due to a surge in the prevalence of CAD globally.
Some of the prominent players in the global market are Boston Scientific; Medtronic; Terumo; Abbott Laboratories; B. Braun Melsungen AG; C R Bard; Biotronik SE & Co. KG; Biosensors International Group; MicroPort Scientific Corporation; Meril Life Sciences; and Elixir Medical Corporation.
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Rising Prevalence & Recurrence Rate Of Cardiac Diseases Will Spur The Global Coronary Stents Market
The rising prevalence and recurrence rate of cardiac diseases globally will prove beneficial for the market growth during the forecasted time. Every year millions of people are affected by coronary heart disorder, a condition in which the patient’s blood circulation to the heart is blocked owing to the deposition of fatty plaques across the artery walls. Therefore, the surging prevalence of heart diseases will considerably propel market growth. The advancing technological developments related to coronary stents, like bifurcated stents and usage of biodegradable materials, are likely to boost the market value. The leading players in the market are focusing mainly on design innovations to transform the stents according to the patient’s condition. Such technological improvements will certainly boost the demand for the product, therefore boosting industry growth.
The global coronary stents market is bifurcated on the account of product, absorption rate, material, rate, application, end-users, and regional analysis. Based on the product type, the market is divided into drug-eluting stent (DES), bio-engineered stent, bioresorbable vascular scaffold, dual therapy stent, and bare metal stent. The drug-eluting stent segment is subdivided into limus-based drugs and paclitaxel. Based on the absorption rate, the market is divided into slow-absorption DES and fast-absorption DES. Based on the material, the market is divided into cobalt alloy metal, stainless steel, tantalum, gold, and nitinol polymers. Based on the application, the market is divided into peripheral artery disease and coronary artery disease. Based on the end-users, the market is divided into cardiac centers, hospitals, and others.
North America & Asia Pacific Projected To Dominate The Global Coronary Stents Market
Based on geographical analysis, the global coronary stents market is divided into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. The North America region accounted for the largest market revenue in 2017 and is estimated to remain dominant over the forecasted period, due to the presence of leading players in Canada and the U.S. Nevertheless, the Asia Pacific region is projected to report a significant CAGR during 2019–2025 owing to the augmented supply of coronary stents in cardiology clinics and hospitals, mainly in countries such as India & China.
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The global coronary stents market is segmented as follows:
By product type:
- Bioresorbable Vascular Scaffold
- Dual Therapy Stent
- Drug-Eluting Stent (DES)
- Limus-Based Drugs
- Paclitaxel
- Bare Metal Stent
- Bio-Engineered Stent
By absorption rate:
- Slow-Absorption DES
- Fast-Absorption DES
By material:
- Gold
- Stainless Steel
- Cobalt Alloy Metal
- Tantalum
- Nitinol Polymers
By application:
- Peripheral artery disease
- Coronary artery disease
By end-users:
- Cardiac centers
- Hospitals
- Others
By region:
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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