Cardiovascular diseases (CVDs) are one of the most common causes of death globally. According to the World Health Organization (WHO) statistics, around 17.5 million deaths are reported due to CVDs every year, which represent a total of 31% of the global death statistics. Out of this, 7.4 million deaths are due to coronary heart diseases and 6.7 million deaths are due to stroke. Coronary artery disease (CAD) is one of the common heart diseases accounting for around 45.1% of the deaths in the US. This condition arises when the coronary arteries narrow due to the formation of plaque, thereby, hardening and reducing their flexibility. Lifestyle variations, such as healthy food, workout regimen, and quitting smoking, help to recover from CAD risk.
Improvements in coronary stents have enhanced the probability of patients undergoing cardiovascular surgery. The objective of the latest advancement in the industry is to decrease the sensitivity of drugs in the drug-eluting stents and lessen the risk associated with the surgery. For instance, in 2017, Medtronic Japan Co. Ltd., a subsidiary of Medtronic PLC, launched Resolute Onyx Stent System. The design of the stent allows better penetration of the arterial walls with ease.
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Factors, such as the increasing prevalence of cardiovascular diseases, the increasing aging population, and the growing acceptance of minimally invasive endovascular surgeries, are driving the market growth. However, stringent government regulations, high cost associated with stent implants, and the availability of alternative treatment procedures are hampering the growth of the market. The markets in India, Brazil, China, and Russia are also expected to grow at a rapid pace during the forecast period due to the high prevalence cardiovascular diseases.
The Global Coronary Stents Market is estimated to witness a CAGR of 15.03% during the forecast period 2017–2023. The Coronary Stents Market is analyzed based on two segments – Stent types and regions.
The regions covered in the report are North America, Europe, Asia Pacific, and Rest of the World (ROW). The availability of technologically advanced products has made North America the leader of the market followed by Europe. More than 75% of CVD deaths are recorded in low-income and middle-income countries. Thus, the market growth in APAC and ROW is expected to grow at a high rate. Currently, many manufacturers are concentrating in launching advanced products in these regions to tap the opportunity.
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Stents Types Analysis:
The coronary stents market is segmented into bare metal stents, drug-eluting stents, and bio-absorbable stents. Approximately 90% of all percutaneous coronary intervention (PCI) surgeries use a coronary stent. Thus, drug-eluting stents hold the major share in the market. The highest growth rate is expected in the bioresorbable stents due to the advantages of the polylactic acid material. Companies, such as Abbott and Boston, are concentrating on developing biodegradable stents to offer effective products and maintain their leadership in the market. The market is also witnessing various mergers, acquisitions, and collaborations among the top players, which is defining the future of the Global Coronary Stents Market.
Abbott Laboratories, Boston Scientific Corporation, Medtronic PLC, B. Braun Melsungen AG, Terumo Corporation, Biotronik SE & Co. KG, Stentys SA, MicroPort Scientific Corporation, and Meril Life Science, and other predominant and niche players.
The exit of Johnson and Johnson from the coronary stents market has provided opportunities for many players to strengthen their market share. Abbott Laboratories, Medtronic, and Boston Scientific Corporation were the market leaders in the global coronary stents market as of 2016. The top three market players are estimated to hold more than 60% share of the market in 2016. Abbott Laboratories emerged to be the global leader, while Boston Scientific Corporation dominated the market in Brazil and other emerging Latin American countries.
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The report provides complete details about the usage and adoption rate of coronary stents in various therapeutic verticals and regions. Thus, the key stakeholders can know about the major trends, drivers, investments, vertical player’s initiatives, and government initiatives. Moreover, the report provides details about the major challenges that are going to impact the market growth. Additionally, the report gives complete details about the business opportunities to key stakeholders and help them to expand their business and capture the revenue in the specific verticals and analyze before investing or expanding the business in this market.