The coronary stents market is expected to reach US$ 11,622.5 million by 2026, up from US$ 6,216.7 million in 2017, with a compound annual growth rate (CAGR) of 7.3% from 2018 to 2026. According to the research cited in the World Health Organization's (WHO) 2016 report, cardiovascular disease is responsible for the deaths of 17.7 million people throughout the globe. 75% of these deaths occur in low- and middle-income countries. The major factors that increase the risk of cardiovascular disease are tobacco use, physical inactivity, and an unhealthy diet. There has been a technological revolution in the development of stents in the last two decades. Bare metal stents are being completely overshadowed by drug-eluting stents and bioresorbable vascular scaffolds.
The Food and Drug Administration (FDA) has approved bioresorbable scaffolds such as Marmaris (Biotronik) and MAGNITUDE® (Amaranth Medical, Inc.) for treating coronary artery diseases in the young population. Effective treatment guidelines have been postulated by the World Health Organization (WHO), wherein people at risk for cardiovascular disease must have five servings of vegetables and fruit every day and limit salt intake to prevent heart attacks and strokes. Rising public health awareness, as well as the location of key players, drive market growth in developed countries such as North America and Europe. Increasing medical tourism and affordable reimbursement scenarios promote market growth in Asia-Pacific.
Market Synopsis
Excellent patient compliance and minimal risk of restenosis will spur the growth of drug-eluting stents.
In the current scenario, drug-eluting stents dominate the product segment of the coronary stent market. The key drivers that spurred market growth are excellent patient compliance and minimal risk for restenosis. The other inherent features associated with drug-eluting stents are thinner struts, innovative stent structures, biodegradable polymer coatings, durable metal alloys, and the encapsulation of a more effective antiproliferative agent on the stent surface. Bare metal stents have been almost completely replaced in the last decade due to the risk associated with restenosis in patients suffering from diabetic cardiomyopathy. It is still the drug of choice in developing nations on account of its low cost. Bioresorbable vascular scaffolds will register impressive growth during the forecast period of 2018 to 2026 on account of factors such as the elimination of stent-in-stent procedures, enhanced vessel healing, and a reduction in the need for dual antiplatelet therapy.
In North America, market growth is being driven by rising obesity rates and increased demand for minimally invasive surgical procedures.
North America accounts for 40% of the coronary stent market, making it the unanimous leader in the regional segment. The rising prevalence of obesity, unhealthy lifestyles, and smoking are driving the coronary stent market growth in North America. The increasing demand for minimally invasive surgical procedures has had a positive impact on the market's growth in North America. According to the latest research cited by the European Society of Cardiology (ESC) in 2016, cardiovascular disease is the leading cause of mortality in the European Union. Six million cases of coronary artery disease are reported each year. Effective treatment guidelines and a well-developed healthcare infrastructure drive the coronary stent market in Europe. Proactive initiatives taken by government healthcare agencies and a supportive regulatory environment are responsible for the coronary stents market's growth in the Asia Pacific.
Historical & Forecast Period
This research report presents the analysis of each segment from 2016 to 2026, considering 2017 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments is calculated for the forecast period from 2018 to 2026.
Report Scope by Segments
A quantitative analysis is performed for the report on the coronary stent market on the basis of existing market trends. The market is segmented by products and geography.
Quantitative and qualitative analysis are used as market assessment tools to understand the trends prevailing in the coronary stent market. For the forecast period of 2018-2026, market estimation and a compound annual growth rate are provided. Marketing strategies related to collaborations, mergers, and acquisitions are studied to determine a company's inorganic and organic growth policies. A diverse range of coronary stents is showcased in the product portfolio section. The major players engaged in the manufacturing of coronary stents are Amaranth Medical, Inc., Abbott Laboratories, Inc., Boston Scientific Corporation, Cook Medical, Inc., B. Braun Melsungen AG, C.R. Bard, Inc., Biotronik SE & Co. KG, Medtronic Plc, Terumo Corporation, and Microport Scientific Corporation.
Key questions answered in this report.
What will be the market estimation and compound annual growth rate for the forecast period of 2018 to 2026?
Who are the major players dominating the coronary stent market?
What are the quantitative and qualitative market analyses that determine the existing trend in the coronary stent market?
What are the marketing strategies related to collaboration, mergers, and acquisitions among the major players in the coronary stent market?
What is the disease etiology of cardiovascular diseases, and how are coronary stents used as a treatment option?
Which is the largest and fastest-growing category of coronary stents by-product?
Which is the largest and fastest-growing regional market for coronary stents?
Frequently Asked Questions:
The market for Coronary Stents Market is expected to reach US$ 11,622.5 Mn by 2026.
The Coronary Stents Market is expected to see significant CAGR growth over the coming years, at 7.3%.
The report is forecasted from 2018-2026.
The base year of this report is 2017.
Amaranth Medical, Inc., Abbott Laboratories, Inc., Boston Scientific Corporation, Cook Medical, Inc., B. Braun Melsungen AG, C.R. Bard, Inc., Biotronik SE & Co. KG, Medtronic Plc, Terumo Corporation, and Microport Scientific Corporation. are some of the major players in the global market.
