According to the research report the Coronary Stents Market is expected to reach USD 10.31 billion by 2021 from USD 7.16 billion in 2016, at a CAGR of 7.6% from 2016 to 2021.
Major
factors driving the growth of this market include technological
advancements, increasing number of percutaneous coronary intervention
(PCI) procedures, rising burden of CAD, increasing demand for minimally
invasive procedures, and rising geriatric population. Moreover,
development of bioresorbable vascular scaffold (BVS) and expansion in
emerging markets provide significant growth opportunities in the market
provide significant growth opportunities in the market.
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Technological
advancements, increasing demand for minimally invasive procedures and
rapid growth in geriatric population are the major drivers for the
market.
The coronary stents market is witnessing a new phase of
technological developments, with the launch of fully dissolving stents.
In July 2016, Abbott (US) received US FDA approval to commercially
launch its Absorb bioresorbable heart stent. Absorb is the only fully
dissolving stent approved for the treatment of CAD. Moreover,
researchers have also developed dual-therapy stents and bioengineered
stents for the treatment of CAD. Innovations in stenting technology, in
terms of material, construction, and coatings play a major role in
increasing the effectiveness of stents and expanding their application
areas. Moreover, launching innovative products in the market helps
companies gain a competitive advantage and drive the uptake of their
products.
Based on type, the market is segmented into bare-metal
stents, drug-eluting stents and bioabsorbable stents. The drug-eluting
stents segment is expected to account for the largest share of the
coronary stents market in 2016. This can primarily be attributed to the
advantages of drug-eluting stents over bare-metal stents, such as lower
risk of restenosis and other related complications. Based on mode of
delivery, the Coronary Stents Market is segmented into
balloon-expandable stents and self-expanding stents. The balloon
expandable stents segment is expected to grow at the highest CAGR during
the forecast period due to factors such as increasing research
activities to improve this technology, high utilization of these stents,
and growing regulatory approvals for balloon-expandable stents.
Based
on region, the Coronary Stent Market is segmented into North America,
Europe, Asia, and the Rest of the World (RoW). In 2016, North America is
expected to dominate the market, followed by Europe. Asia is poised to
be the fastest-growing region during the forecast period. Factors such
as large population base, growing prevalence of cardiac diseases, rising
adoption of advanced technologies, and low manufacturing costs in the
region are expected to drive market growth in Asia. Moreover, the
growing focus of major players in this region is expected to boost the
coronary stents market in Asia.
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The
Coronary Stents Market is a highly fragmented market, with several big
and emerging players. Key market players include Medtronic, plc
(Ireland), Abbott Laboratories (U.S.), Terumo Corporation (Japan),
BIOTRONIK SE & Co. KG (Germany), Boston Scientific Corporation
(U.S.), Biosensors International Group, Ltd. (Singapore), B. Braun
Melsungen AG (Germany), STENTYS SA (France), MicroPort Scientific
Corporation (China), Meril Life Sciences Pvt. Ltd. (India), Vascular
Concepts (India), and Translumina GmbH (Germany).
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MarketsandMarkets™ INC.
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