Coronary Stents Market is expected to reach a valuation of US$ 51.2 Million by 2032 | Says FMI Analyst
The global Coronary Stents Market is expected to reach a valuation of US$ 51.2 Million in 2032 while the market expands at a moderate CAGR of 5.1% during 2022-2032. In 2022, the target market will reach an estimated value of US$ 33.36 Million.
Owing to the rising geriatric population as well as the increasing prevalence of cardiovascular diseases, and lifestyle diseases like diabetes, obesity, and other medical conditions, the coronary stents market will experience notable growth during the forecast period.
The rising awareness of benefits associated with stenting procedures such as significant improvement of blood flow and protection from further damage to the heart muscle contribute to the target market growth. Stenting also helps in improving the symptoms of heart disease, including angina and shortness of breath which, in turn, reduces the need for coronary bypass surgery. Hence, stenting is often preferred by surgeons as well as patients since it is a minimally invasive procedure and the post-operative recovery period is relatively short.
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Furthermore, a rise in the global geriatric population is leading to a larger patient pool with serious cardiovascular diseases. Again, hypertension is arising as a grave public health concern. Obesity, too, adds to this burden as one of the primary risk factors accountable for different cardiovascular diseases worldwide.
Coronary stenting is prescribed to patients who are suffering from coronary artery blockage. Though angioplasty is the first line of treatment for patients with acute coronary artery blockages while the number of patients undergoing stenting has been increasing steadily over the last ten years. This is owing to the rise of outpatient coronary stenting procedures, which shortens long hospital stays. Additionally, a large number of cardiologists prescribing stenting procedures for patients with CAD is a prime factor that will likely fuel revenue growth of the coronary stent market during the forecast period.
“Increasing cases of lifestyle diseases like obesity and diabetes often result in heart issues which, in turn, supplements the global growth of the coronary stents market over the forecast period,” says an FMI analyst.
- Rising awareness of the benefits associated with stenting will strengthen market prospects.
- Prevalence of alternative treatment methods, product failure, and recalls are certain factors that may hamper market growth.
- Growing cases of coronary artery diseases propel the coronary stent market in the United States.
- Favorable government support for the healthcare sector will present new market opportunities in China.
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- Boston Scientific Corporation
- Terumo Corporation
- B Braun Melsungen AG
- Stentys SA
- MicroPort Scientific Corporation
- C. R. Bard, Inc.
- Cook Medical
Key market players are focusing on product upgradation and offering new features to meet the rising consumer demand. These organizations are employing strategies like new product releases, partnerships, collaborations, mergers, and acquisitions to gain a competitive advantage.
Key Segments Covered in the Coronary Stents Industry Analysis
- Drug Eluting Stent (DES)
- Bare Metal Stent (BMS)
- Bioresorbable Vascular Stent (BVS)
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By Raw Material:
- Cobalt Chromium
- Stainless Steel
- Platinum – Chromium
- Nickel – Titanium
By End User:
- Ambulatory Surgical Centers
- Cardiac Catheterization Laboratories
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