The coronary stents market is estimated to grow at a CAGR of 7.8% during the forecast period from 2018 to 2025. The market for coronary stents is estimated to reach US$ 13,879.0 Mn by 2025.
The market for coronary stents has been witnessing a healthy growth rate during the previous years and is expected to witness similar trend in the coming years. The coronary stents market is subject to strict and mandated regulatory policies. The companies operating in the market follow stringent regulations of the manufacturing guidelines. In addition, these manufacturing companies are focusing to invest in R&D to develop advanced products for end users such as, hospitals, ambulatory surgical centers, and the cardiac centers, among others.
Increasing prevalence of cardiac diseases is expected to drive the market for coronary stents over the forecast period.
The global coronary stents market is a matured market in the developing countries as well as developing economies worldwide. Rising prevalence of cardiovascular diseases and increasing number of surgical procedures. In the coming years, hospitals followed by cardiac centers & ambulatory surgical centers are likely to experience high demand for coronary stents. Among the coronary stents, the stents made up of cobalt, are in high demand by the doctors, followed by platinum. Furthermore, advancement in the field of molecular biology has equally enhanced the coronary stents in terms of the safe products. And the technologically advanced and cost efficient stents are expected to be the driving factors for the coronary stents market.
The key players operating in the field of Coronary Stents worldwide include Microport Scientific Corporation, Medtronic PLC, Biosensors International Group, Ltd., Abbott Laboratories, Vascular Concepts Limited, Biotronik SE & Co. Kg, Stentys SA, B. Braun Melsungen AG, Translumina GmbH, and Terumo Corporation.
The market for coronary stents is well established in the region of North America, owing to the awareness regarding medical practices and technological developments in the treatment of cardiovascular diseases. Coronary stents is mature market in some of the region such as Japan, whereas, with some recent development in countries such as India, China, Indonesia and Taiwan, the demand for these devices is expected to upsurge in the coming years. Additionally, factors such as increasing focus of industry players in India and Japan, funds and grants in China are likely to propel growth of the market.
In our study, we have segmented the coronary stents market by type, absorption rate, material and end-users. The coronary stents by type is segmented as biodegradable stents, bare metal stents and drug eluting stents. The absorption rate segment was further segmented as the slow absorption rate and fast absorption rate. The coronary stents market, by material can be categorized as nitinol, polymers, nickel, gold, tantalum, stainless steel and cobalt alloy metal stents. The end user segment can be segmented into ambulatory surgical centers, hospitals and cardiac centers. Geographically, the market for coronary stents was categorized as North America, Europe, Asia Pacific (APC), Middle East and Africa (MEA) and South and Central America (S&CAM).
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Media, Healthcare and Telecommunication industries.