Coronary Stent Market by Type (BMS, BVS, Drug Eluting), Mode of Delivery (Self, Balloon Expandable), Material (Metal (Stainless Steel, CoCr, PtCr, Nitinol), Polymer, Copolymer), & End User (Hospital, Cardiology Center, ASC) - Global Forecasts to 2021
The global coronary stent 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 contributing to the growth of the global coronary stent 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. However, alternative treatment methods for CAD, stringent regulations for product approval, and numerous cases of product failure and product recall may hinder the growth of this market during the forecast period.
Various companies are focusing on technological advancements to improve the coronary stents offerings. Companies like Biosensors International Ltd., Abbott Laboratories, and Boston Scientific focused on developing biodegradable and bifurcated stents to deal with concerns about thrombosis caused by long-term device implantation. For instance, in May 2014, Boston Scientific (U.S.) launched the Promus PREMIER Everolimus-eluting Platinum Chromium Coronary Stent System in Japan. Currently, the coronary stents market is witnessing a new phase of technological developments, with the launch of fully dissolving stents. In July 2016, Abbott Laboratories (U.S.) received U.S. FDA approval to commercially launch its Absorb bioresorbable heart stent. Absorb is the only fully dissolving stent approved for the treatment of CAD.
Asia is projected to be fastest-growing region in the coronary stent market during the forecast period. High growth in this region can be attributed to factors such as large population base, growing prevalence of cardiac diseases, rising adoption of advanced technologies, and low manufacturing costs in the region. Moreover, the growing focus of major players in this region is expected to boost the coronary stents market in Asia.
This market is categorized on the basis of type, mode of delivery, material, end user, and region. Apart from comprehensive geographical analysis, product analysis, and market sizing, the report also provides a competitive landscape that covers growth strategies adopted by industry players in the last three years. In addition, the company profiles comprise basic views on the key players and their product portfolios, developments, and strategies adopted. The abovementioned market research data, current market sizes, and forecast of future trends will help key players and new entrants make informed decisions regarding product offerings, geographical focus, changes in strategic approach, R&D investments for innovations in products and technologies, and levels of output in order to remain successful.
Reasons to Buy the Report:
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help firms garner greater market shares. Firms purchasing the report can use any one or a combination of the below-mentioned five strategies for strengthening their market shares.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on the product portfolios of top players in the coronary stent market. The report analyzes this market by type, mode of delivery, material, end user, and region
Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and new product launches in the coronary stent market
Competitive Assessment: In-depth assessment of market strategies, geographical and business segments, and product portfolios of the leading players in the coronary stent market
Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the market for coronary stent across regions
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the coronary stent market
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