Coronary Stents Market to Reach $9,003 Million by 2022
Pune, Maharashtra, India, September 23 2020 (Wiredrelease) Allied Analytics –:Coronary Stents Market Report, published by Allied Market Research, projects that the global market was valued at $4,806 million in 2015, and is projected to reach at $9,003 million by 2022, growing at a CAGR of 9.5% from 2016 to 2022. The drug-eluting stents (DES) segment accounted for nearly half of the total market in 2015.
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Coronary stents are small elastic tubes used for the treatment of narrowed and blocked coronary arteries in patients with coronary artery disease (CAD). These reduce the symptoms of chest pain (angina) and aid in the treatment of a heart attack. These types of stents are also called as heart stents or cardiac stents. They comprise metal mesh and are implanted in constricted coronary arteries during a technique known as percutaneous coronary intervention (PCI) or angioplasty.
Factors that drive the growth of the global coronary stents market are increase in prevalence of CAD, improved patient outcomes with stenting, and emergence of new trends in the field of coronary artery stents. In addition, increase in demand for coronary stents from the emerging countries and growth in awareness about availability of suitable insurance & reimbursement policies provide opportunities to the coronary stents manufacturers. However, high cost of procedures associated with coronary stents and availability of substitute method for the treatment of CAD are expected to hamper the market growth.
DES is expected to maintain its dominant position throughout the analysis period, owing to its significant property of preventing the growth of scar tissue (restenosis) in the arterial wall after the procedure. In addition, with the advancements in stents field, DES have been significantly improved and show reduction in stent thrombosis. Moreover, they provide improved outcomes for patients with CAD treated with percutaneous coronary intervention (PCI).
The metallic biomaterials segment dominated with three-fourths of the market, in 2015, owing to cost-effectiveness of these materials. Metallic biomaterials provide efficacy of vascular healing as compared to other materials. These are used to manufacture expandable and drug-eluting stents. The global metallic biomaterials market segment is expected to grow at a CAGR of 9.5%.
In 2015, Asia-Pacific and LAMEA collectively accounted for one-fourth of the total coronary stents market and are expected to continue this trend due to increase in stents development, specifically in China, India, and the other developing countries. Rise in geriatric population is the main reason for the growth of coronary stents market in the Asia-Pacific region.
The major companies profiled in the report include Abbott Laboratories, Boston Scientific Corporation, C. R. Bard, Inc., Medtronic plc., Microport Scientific Corporation, B. Braun Melsungen AG, Terumo Corporation, Biotronik SE & Co. KG, Biosensors International Group, Ltd., and Stentys SA.
The other companies that are included in the coronary stents market are Meril Life Sciences Pvt. Ltd., Vascular Concepts Limited, Translumina GmbH, REVA Medical, Inc., and Elixir Medical Corporation.
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Key Findings of the Coronary Stents Market Study:
The bio-absorbable stents are anticipated to grow at a highest rate during the analysis period from 2016 to 2022.
Asia-Pacific is projected to maintain its lead position throughout 2022, growing at a CAGR of 11.5%.
The metallic biomaterial segment occupied more than half of the total market in 2015.
China occupied one-fourth of the share of the total Asia-Pacific coronary stents market in 2015.
India is expected to grow at the highest CAGR of 14.2% from 2016 to 2022
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