Portland, OR -- (SBWire) -- 06/12/2018 --Coronary stents are small expandable tubes that are used to treat narrowed or blocked coronary arteries and reduce chest pain (angina). Patients with coronary artery disease (CAD) are treated with these stents. These types of stents are also called as cardiac stents and consist of metallic mesh. These coronary stents are implanted in narrowed coronary artery during percutaneous coronary intervention (PCI).
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Increase in incidence of CAD, emergence of innovative coronary stents, and improved clinical outcomes due to stenting drive the market growth. In addition, rise in incidence of chronic & lifestyle diseases, especially diabetes and obesity, and improved insurance & reimbursement supplement the market growth. However, availability of alternative methods for coronary heart disease treatment and high cost of treatment-associated coronary stents hamper the market growth. Furthermore, the untapped emerging countries present lucrative opportunities for the market. The global coronary stents market accounted for $4,806 million in 2015, and is anticipated to reach at $9,003 million by 2022, registering a CAGR of 9.5% from 2016 to 2022.
The global coronary stents market is segmented based on product, biomaterial, end user, and geography. Based on product, it is classified into drug-eluting stent, bare-metal stent, and bio-absorbable vascular stent. On the basis of biomaterial, it is categorized into metallic, polymeric, and natural biomaterial. Metallic stents are further classified to cobalt chromium (CoCr), platinum chromium (Pt-Cr), stainless steel, and nickel titanium. Based on end user, it is divided into hospital & clinic and ambulatory surgical centers.
Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific accounted for the highest market share in the coronary stents market in 2015, and is expected to retain its dominance throughout the forecast period, owing to the increase in demand for advanced healthcare services in emerging countries (India and China). In addition, with the withdrawal of Johnson & Johnson's stents business in 2011, the market players from China and other Asia-Pacific countries have got an opportunity to accelerate in the global market. However, LAMEA is expected to emerge as a lucrative area with maximum growth potential, owing to the improvement in healthcare facilities, available disposable income, and rapid development in economic conditions.
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Product development is the key strategy adopted by the market players. The report provides a comprehensive analysis of the key players that operate in the global coronary stents market.
KEY MARKET BENEFITS
The study provides an in-depth analysis of the global coronary stents market and the current trends and future estimations to elucidate the imminent investment pockets from 2014 to 2022.
The report presents quantitative analysis of the market to enable stakeholders to capitalize on the prevailing market opportunities.
Extensive analysis of the market based on product type assists in understanding the trends in the industry.
Key market players and their strategies are thoroughly analyzed to understand the competitive outlook of the industry.
Coronary Stents Market - Global Opportunity Analysis and Industry Forecast, 2018-2024
Coronary stents are small expandable tubes that are used to treat narrowed or blocked coronary arteries and reduce chest pain (angina).