Coronary Stents Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

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Coronary Stents Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

Status : October, 2020 | Healthcare IT | PPT format

Report Digest


Global Coronary Stents Market: Snapshot

The market for coronary stents has been gaining significant traction across the world. Technological advancements, increasing burden of CAD, and the rising base of geriatric population are the main factors that have been fueling the demand for coronary stents substantially. Apart from these, the augmenting demand for minimally invasive procedures and the rising number of percutaneous coronary intervention (PCI) procedures are also supplementing to the growth of this market.

Furthermore, the advancements in bioresorbable vascular scaffold (BVS) and the continual expansion of the leading players in emerging markets are likely to offer significant growth opportunities to the market in the years to come. However, the availability of alternative treatment methods for CAD, strict norms and policies for product approval, and the increasing number of cases of product failure may hamper the growth of this market over the next few years. The market reports a regional presence across the Middle East and Africa, North America, Asia Pacific, Latin America, Europe. Among these, North America has been leading the global market and is expected to retain its supremacy over the forthcoming years.

Global Coronary Stents Market: Overview

Coronary stents are used during the treatment of coronary arteries that supply the heart muscle with blood. A tube-shaped device inserted in coronary arteries, they help open up an artery and are left there permanently.

Fat often gets deposited along the arterial wall, thereby narrowing the area for the blood to flow. This can result in reduced flow of blood to the crucial heart muscle, which in turn can lead to chest pain and heart attack. Clots also form at times, which completely siphon off the flow of blood to the heart causing an attack again. Stents help to thwart such outcomes by keeping the coronary arteries open for the blood to flow smoothly.

Global Coronary Stents Market: Key Trends

Coronary stents are efficient and safe. This unique perceived benefit has been the single most important driver of its market so long. Additionally, clinical research organizations (CROs) with their constant evaluations leveraging clinical trials have egged manufacturers to focus on product development. Such organizations also bring down the time taken for regulatory approvals by partnering with regulatory agencies for pre- and post-market approvals of stents. All these have driven steady growth in the market.

Besides, patients who undergo angioplasty and have stents installed recover faster than patients who have coronary artery bypass surgery (CABG). Coronary stents cause much less discomfort and this has been resulting in their swift adoption too.

Global Coronary Stents Market: Market Potential

Coronary stents play an extremely important role in saving human lives. Recently, the government in India ordered stent manufacturers, especially multinationals Abbot and Medtronic, to not withdraw supply in response to pricing regulations. It cited emergency clause in public interest. Given the crucial function they serve, many governments are coming up with different incentives to make sure everyone can access the lifesaving devices. Some such incentives are reducing the price or providing subsidies.

The three different types of coronary stents available in the market are drug-eluting stents (DES), bare metal stent (BMS), and bioresorbable stent. The drug-eluting stents (DES), among them, grosses maximum revenue on account of the spike in number of people suffering from cardiovascular diseases (CVD). The growing efforts by companies to prove the efficacy of their products through clinical studies has also driven up demand for the product.

In terms of end users, ambulatory surgery centers account for maximum share in the market as they help to minimize medical expenses and lessen the duration of hospital stays. They also come equipped with advanced operating equipment, specialist surgeons, and operating and recovery rooms without complex administrative procedures.

Global Coronary Stents Market: Regional Outlook

From a geographical standpoint, the Americas hold a leading position in the global market for coronary stents due to the advanced medical facilities in the region. Going forward too, the Americas will likely hold on to their leading share.

Global Coronary Stents Market: Competitive Analysis

A large number of regional and international players makes the global market for coronary stents competitive and diversified. These vendors are making constant efforts to outsmart one another by coming up with more cutting-edge devices such as nano-coated stents or through shrewd pricing strategies. They are also resorting to strategic distribution partnerships and mergers and acquisitions to bolster their positions. Some such vendors profiled in the report are Abbott Laboratories, Medtronic, and Boston Scientific.

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?