Coronary Stent Market Analysis Reports Revenue Growth Globally During The Forecast Period 2020-2030
The Coronary Stent Market - Global Market Share, Trends, Analysis and Forecasts, 2020-2030 provides insights on key developments, business strategies, research & development activities, production and consumption, supply chain analysis, competitive landscape, and market composition analysis.
National Center for Biotechnology Information, U.S. National Library of Medicine defines coronary stents as – “Coronary stents (CS) are expandable tubular metallic devices which are introduced into the coronary arteries that demonstrate stenosis due to an underlying atherosclerosis disease.” This revascularization is known as percutaneous coronary intervention (PCI) or coronary angioplasty with stent placement. The prevalence of cardiovascular diseases is increasing globally with a death toll of 17.9 million people or 31% of the total deaths annually. Coronary stents helps in compressing atherosclerotic plaque against the vascular walls and restores blood flow. This has increased the demand for coronary stents to treat the coronary blockages. The global coronary stent market is anticipated to expand at a CAGR of 7.0% during next decade.
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Fueled by adoption in treatment of multiple interventional cardiac diseases, drug eluting stents to drive the market growth
The global coronary stents market is segmented based on type, mode of delivery, material, end use, and geography. Based on type, the global coronary stents market is segmented into bare metal stents, drug eluting stents, bio-absorbable stents, and drug eluting stents balloons. Among these, the drug eluting stents dominated the market in 2018 and is anticipated to expand at a prominent CAGR during the forecast owing to applications in treatment of diabetes, renal disease, percutaneous coronary intervention, ST-segment elevation myocardial infarction (STEMI), and others. The bio-absorbable stents are anticipated to be the fastest growing coronary stents during the forecast period owing to rising demand from percutaneous coronary intervention treatment.
Balloon expandable coronary stents to dominate market owing to high precision in placement offered by these stents
Based on mode of delivery, the market is segmented into balloon-expandable stents and self-expanding stents. The balloon expandable stents dominated the market in 2018 and is anticipated to grow at a steady rate during forecast period. The balloon expandable stents support high radial outward force that allows for high precision in placement of these stents, thereby increasing the adoption in treatment of multiple diseases. The self-expanding stents are anticipated to be the fastest growing coronary stents patency over balloon expandable stents.
Based on geography, the market is segmented into North America, South America, Europe, Asia Pacific, and Middle East & Africa. North America dominated the market in 2018 owing to high prevalence of cardiac disorders, diabetes and other diseases. Based on the statistics from the U.S. Department of Health & Human Services, an average of US$ 219 Billion is spent annually on health care services, medicines, and lost productivity owing to death due to heart diseases. This is anticipated to be the major factor generating demand for coronary stents in North America. Asia Pacific coronary stent market is anticipated to witness prominent growth during the forecast period due to rising number of patients suffering from Coronary Artery Disease.
Major players dominating the global coronary stent market include Abbott Laboratories, Braun Medical Inc., Biosensors International Group, Ltd., BIOTRONIK SE & Co. KG, Boston Scientific Corporation, Cook Medical Technologies, Medtronic PLC, Terumo Corporation, and Translumina GmbH.
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