Coronary Stent Market Estimated A CAGR To Be 6.8% By 2028
New York City, NY: Sept 16, 2019 – Published via (Wired Release) – A coronary stent is a tube-shaped device placed in coronary arteries for the purpose of supplying blood to heart in order to keep arteries open in the treatment of coronary heart disease. The coronary stent is used in a procedure called percutaneous coronary intervention (PCI).
The first five-year cumulative revenue (2019–2022) is projected to be approximately US$ 29,208 Mn, which is expected to increase significantly over the latter part of the five-year forecast period. According to report, the coronary stent market is projected to reach a value of over US$ 11,431.3 Mn in 2027 at a CAGR of 6.8% over the forecast period.
Global Coronary Stent Market: Market Dynamics
Increasing prevalence of cardiovascular diseases is a key factor expected to drive growth of the global coronary stent market over the forecast period. In addition, technological advancements and rising demand for minimally invasive procedures are some of the other factors expected to fuel growth of the target market over the forecast period.
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Furthermore, availability of favorable reimbursement policies in the developed countries across the globe is another factor expected to boost growth of the global coronary stent market over the forecast period. Moreover, increasing research and development activities for development of innovative products and rising merger and acquisitions activities for improving company’s product portfolio and presence are other factors expected to propel growth of the target market over the forecast period.
Ongoing trend observed in the market is increasing development of biodegradable stents by major plyers operating in the global coronary stent market over the forecast period. This trend is expected to support growth of the target market over the forecast period.
Global Coronary Stent Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global coronary stent market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global coronary stent market is expected to expand at a CAGR of 7.0% over the forecast period.
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Global Coronary Stent Market: Segmental Snapshot
The market report has been segmented on the basis of product type, material type, end user, and region. The product type segment includes drug-eluting stent, bare-metal stent, and bioresorbable vascular stent. The material type segment includes metallic (Cobalt Chromium (CoCr), Platinum Chromium (Pt-Cr), Stainless Steel, and Nickel Titanium) and others.
By Product Type: The drug-eluting stent segment accounted for highest revenue share contribution as compared to other type segment, and is expected to register a CAGR of over 6.8% between 2018 and 2027.
By material Type: The metallic segment accounted for highest revenue share contribution as compared to other material type segment, and is expected to register a CAGR of over 6.6% between 2019 and 2027.
By end user: The hospitals segment accounted for highest revenue share contribution as compared to other end user segment, and is expected to register a CAGR of over 6.6% between 2019 and 2027.
By Region: The market in North America accounted for highest revenue share in the global coronary stent market in 2018, and is expected to register a CAGR of over 6.5% between 2019 and 2027.
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Global Coronary Stent Market: Competitive Analysis
The research report on the global coronary stent market include profiles of some of major companies such Medtronic plc, Abbott Laboratories, Boston Scientific Corporation, Biosensors International Group, Ltd., BIOTRONIK SE & Co. KG, B. Braun Melsungen AG, TERUMO CORPORATION, STENTYS SA, MicroPort Scientific Corporation, Meril Life Sciences Pvt. Ltd., Vascular Concepts, Translumina GmbH.
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