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The global coronary stents market size was valued at USD 5,244.9 million in 2017 and is projected to reach USD 8,414.5 million by 2025, exhibiting a CAGR of 6.1% in the forecast period (2018-2025).
Currently, millions of people are suffering from coronary arterial diseases worldwide. With the help of local anesthesia and mild sedatives, angioplasty has become popular among the patients suffering from atherosclerosis & heart attacks. Coronary stents are small expandable metal mesh used in percutaneous coronary intervention procedure for implantation in the coronary arteries. Coronary stents are useful in establishing adequate blood flow to the heart.
Technological developments in stenting procedure have resulted in the reduction of manual errors during the surgery and is the chief factor driving the coronary stent market. This is expected to boost the adoption for coronary stents among cardiologists in emerging and developed countries. Moreover, refined reimbursements for percutaneous coronary intervention procedure is anticipated to propel the coronary stents market growth during the forecast period.
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"Rapid Technological Advancements in Coronary Stents, to Fuel the Coronary Stents Market Growth"
For decades, coronary stents have been used in coronary and peripheral procedures for sealing the perforation in the arteries. Currently, the field of percutaneous coronary intervention is witnessing many advances to make it safe and effective for patient treatment during complex coronary artery disease surgeries. Large manufacturing companies and healthcare industries are aiming at the development of technologically advanced coronary stents for enhanced deliverability, safety, and efficacy of stents. These rapid advancements, along with demand for effective and minimally invasive surgery, is anticipated to boost the global market potential during the forecast period.
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Introduction of novel drugs in eluting stents by leading manufacturers and their widespread distribution globally is responsible for the dominance accounting for a market share of 65.8% in 2017. Drug-eluting stents is anticipated to lead the coronary stents market throughout the forecast period. Besides, Bioresorbable stent, bare-metal stent, and covered stent are the types of stents in the market.
Based on deployment, the global coronary stents Industry segments include self-expandable & balloon expandable. Clinically proven efficiency of self-expandable stents and emerging local & regional manufacturers across the globe are major factors for the estimated dominance of self-expandable stents in global market. Based on end-users, the global market segments include hospitals, ambulatory surgery centers, specialty clinics, and catheterization labs.
"Expansion of Distribution Network by Key Manufacturers to Improve the Accessibility of Stents Augmenting the Market in Asia Pacific with Maximum CAGR"
North America accounted for a maximum coronary stents market revenue of USD 1,616.2 Mn in 2017 and is projected to remain dominant during 2018-2025, owing to the strategic presence of major players of coronary stent market in the U.S. and Canada, and adoption of sedentary lifestyle by the U.S. population. However, Asia Pacific is expected to register a significant CAGR during the forecast period owing to the increased supply of coronary stents in hospitals and cardiology clinics, especially in countries such as China & India. Current clinical trials on development of novel, effective, and safe coronary stent in the European countries and the rising angioplasty surgeries in Latin America are expected to propel the expansion of Coronary Stents market during 2018-2025.
North America Coronary Stents Market, 2017
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"Abbott, Medtronic, and Boston Scientific Corporation leading in the market"
The current market is consolidated with top five players occupying a prominent coronary stents market share in terms of revenue. In 2018, Abbott received U.S.FDA approval for XIENCE Sierra, a new generation everolimus-eluting coronary stent system, is expected to boost the growth of the company during 2017-2025. Also, the ongoing independent stent imaging studied by Medtronic is projected to improve its market share post-approval. Other major players in the global market include Biotronik SE & Co. KG, Cook, C. R. Bard, Cardinal Health Inc., Terumo Corporation, MicroPort Scientific Corporation, and Boston Scientific Corporation.
The industrial developments in the design, operational capabilities, and technology of coronary stents for percutaneous coronary intervention procedures performed in heart patients across the globe has helped in evolvement of coronary stents. Coronary stent is a tube placed permanently in the coronary artery to perforate the arteries or veins and restore the blood flow in patients with coronary artery disease. Efficiency of stent placements is being enhanced owing to the availability of well-qualified interventional cardiologists in the emerging economies.
The report provides qualitative and quantitative insights on the coronary stents industry trends and detailed analysis of market size & growth rate for all possible segments in the market. The market segments include stent type, deployment, end-user, and geography. Based on stent type, the global coronary stents market segments include drug-eluting stent (DES), bare-metal stent, bioresorbable stent, covered stent, and others. Based on deployment, the global coronary stents Industry segments include self-expandable & balloon-expandable stents. Based on end-users, the global market is segmented into hospitals, ambulatory surgical centers, specialty clinics, and catheterization labs. Geographically, the market is segmented into five major regions, which are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The regions are further categorized into countries.
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Along with this, the report analysis includes market dynamics and competitive landscape. The report also offers insights on the prevalence of coronary artery diseases (CAD), recent industry developments such as partnerships and mergers & acquisitions, regulatory framework by key countries, global reimbursement scenario, and pricing analysis
By Stent Type
Based on the detailed study conducted by Fortune Business Insights, the coronary stents market was valued at USD 5.24 Billion in 2017.
Fortune Business Insights has estimated the coronary stents market to reach USD 8.41 Billion in 2025.
The coronary stents market is projected to grow at a CAGR of 6.1% during the forecast period (2018-2025).
North America dominated the coronary stents market by generating a revenue of USD 1.61 Billion in 2017.
Rapid technological advancements in coronary stents is driving the growth of global coronary stents market.
Medtronic, Abbott, B. Braun Melsungen AG and Terumo Corporation are the companies that dominated the coronary stents market in 2017.
Based on the analysis done by Fortune Business Insights, the drug eluting stents segment dominated the global market in 2017.