Coronary Stent Market Overview
The global coronary stent market 2020 is poised to mature at a CAGR of 7.8% during the review period.
Coronary Stent Market Highlights
The global market for coronary stents is mainly driven by the high prevalence of cardiac diseases and the enormous demand for diagnosis and treatment methods. Rising coronary heart diseases can fuel market growth, along with increasing demand for minimally invasive surgery. In addition, the growing availability of coronary heart disease testing facilities is also fueling the growth of the industry. In addition, attractive payment programmes are expected to fuel growth in the market. The rising prevalence of heart disease would thus, dramatically drive the growth of the industry. It is expected that growing technical developments related to coronary stents, such as bifurcated stents and the use of biodegradable materials, would cause an increase in market demand.
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However in developing countries, tight regulatory scenarios coupled with post-surgical complications can, to a certain degree, restrict industry expansion. Competitors, on the other hand, rely on design advances to change stents according to the state of the patient and draw on business opportunities to achieve a comparative advantage over others.
Coronary Stent Market Segmental Analysis
The global demand for coronary stents market is segmented based on form, distribution mechanism, material and end-user.
The market is segmented into drug-eluting stents, bare-metal stents, and bio-absorbable stents on the basis of form.
The market is segmented into balloon-expandable stents and self-expanding stents depending on the mode of distribution.
The industry is segmented on a material basis into metallic stents, cobalt chromium, platinum chromium, titanium nickel, stainless steel and others.
The industry is segmented on an end-user basis into hospitals and clinics, heart centres, outpatient surgery centres and others.
Coronary Stent Market Regional Overview
In addition, the rising spending on healthcare by major European countries is also driving demand growth.
Asia Pacific is projected to be the fastest growing market due to the growing burden of coronary disorders and a growing emphasis on early diagnosis and treatment of cardiac diseases. In addition, lifestyle changes, the impact of western society among adults, and addiction to smoking are other factors leading to consumer development. Furthermore, rising environmental degradation and exposure to toxic chemicals are also due to business development.
With an increase in the number of healthcare facilities offering treatment for chronic conditions and the flourishing growth of the medical device industry, especially diagnostic devices, the Middle Eastern and African coronary stent market is showing a steady increase. The understanding of coronary heart disease is rising the development of coronary heart disease in the African region. In addition, the rising spending on healthcare by major European countries is also driving demand growth.
Asia Pacific is projected to be the fastest growing market due to the growing burden of coronary disorders and a growing emphasis on early diagnosis and treatment of cardiac diseases. In addition, lifestyle changes, the impact of western society among adults, and addiction to smoking are other factors leading to consumer development. Furthermore, rising environmental degradation and exposure to toxic chemicals are also due to business development.
With an increase in the number of healthcare facilities offering treatment for chronic conditions and the flourishing growth of the medical device industry, especially diagnostic devices, the Middle Eastern and African coronary stent market is showing a steady increase. The understanding of coronary heart disease is rising the development of coronary heart disease in the African region.
Coronary Stent Market Competitive Dashboard
Some of the major players in this market are Medtronic plc (Ireland), B. Braun Melsungen AG (Germany), Terumo Corporation (Japan), MicroPort Scientific Corporation (China), Vascular Concepts (India), Meril Life Sciences Pvt. Ltd. (India), and Translumina GmbH (Germany), Boston Scientific Corporation (U.S.), Abbott Laboratories (U.S.), STENTYS SA (France), Biosensors International Group, Ltd. (Singapore), Elixir Medical Corporation (U.S.), Kyoto Medical Planning Co. Ltd. (Japan), and Reva Medical Inc. (U.S.), BIOTRONIK SE & Co. KG (Germany), and others.
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