Global Coronary Stents Market to 2025 - Analysis and Forecasts by Type (Biodegradable Stents, Bare Metal Stents & Drug Eluting Stents); Absorption Rate (Slow Absorption Rate & Fast Absorption Rate); by Material (Nitinol, Polymer, Nickel, Gold, Tantalum, Stainless Steel); & End User (Ambulatory Surgical Centers, Hospitals and Cardiac Centers)
In our study, we have segmented the coronary stents market by type, absorption rate, material and end-users. The market by the type of the stents can be categorized as biodegradable stents, bare metal stents and drug eluting stents. The coronary stents based on the absorption rate can segmented as slow absorption rate and fast absorption rate stents. The market by material includes the nitinol, polymer, gold, tantalum, nickel, stainless steel and cobalt metal alloy. The end-users of coronary stents can be classified as hospitals, ambulatory surgical centers and cardiac centers. Geographically the coronary stents market was classified as North America, Europe, Asia Pacific, Middle East and Africa and South and Central America.
The coronary stents market is estimated to account for US$ 13,879.0 Mn by the end of 2025, escalating at a CAGR of 7.8% during the forecast period from 2018 to 2025, rising from US$ 7,619.4 Mn in 2017. This growth of coronary stents market can be attributed to rising prevalence of the coronary artery diseases, technological advancement, and rising geriatric population. However, the growth of coronary stents market is restrained, due to the stringent regulations & approval of the stents. At the each stage of the clinical trial safety and accuracy of the stents are checked. These factors are likely to hamper the market growth in near future.
There are various stages of regulation governing for manufacturing the coronary stents. At each stage of regulation, each stent undergoes an examination for the safety and accuracy. The clinical test of the drug-eluting stents is majorly aimed to validate the safety and usefulness; and the study design should fulfil the safety and accuracy test. The proper functioning of the stent is cross checked at each stage of the clinical trial, this is very important rule that manufacturer has to follow. Along with this guideline, the long-term (for example, 5-year) post-approval clinical follow-up is recommended. These are likely to hamper the market growth in near future.
However, other factors such as, declining costs of coronary stents, are expected to propel the market for the coronary stents in the coming years. For instance, in February 2018, in India, the National Pharmaceuticals Pricing Authority (NPPA) revised the price of bare metal stents (BES) to US$ 116.03 (INR 7, 660.0) from US$ 109.97 (INR 7, 260.0) and reduced the price of drug-eluting and biodegradable stents to US$ 422.47 INR 27,890.0 from US$ 448.37 INR 29,600.0. The association has also listed other products and their revised prices which are essential accessories used in the stenting procedure, including cardiac guide wires, balloon catheters & guiding wires, cardiac drug eluting balloons or cutting balloons, and cardiac guiding catheters.
The market for coronary stents has witnessed remarkable growth opportunities in Asia Pacific region. Factors such as increasing focus of industry players in India & Japan and rising number of funds & grants in China are likely to propel growth of the market.
The market for coronary stents consists of well-recognized organizations as well as emerging companies namely; Microport Scientific Corporation, Medtronic PLC, Biosensors International Group, Ltd., Abbott Laboratories, Vascular Concepts Limited, Biotronik SE & Co. Kg, Stentys SA, B. Braun Melsungen AG, Translumina GmbH, and Terumo Corporation.