Increasing prevalence of cardiac diseases is expected to drive the market for coronary stents over the forecast period.
Published Date : 16/04/2018
According to a new market research study titled 'Coronary Stents Market to 2025 - Global Analysis and Forecasts by Type, by Absorption Rate, by Material, and End-Users, the global coronary stents market was valued at US$ 7,619.4 Mn in 2017 and is estimated to reach US$ 13,879.0 Mn by 2025. The report highlights the trends prevalent in the coronary stents market and the factors driving the market along with those that act as deterrents to its growth.
The global coronary stents market is a matured market in the developing countries as well as developing economies worldwide. Rising prevalence of cardiovascular diseases and increasing number of surgical procedures. In the coming years, hospitals followed by cardiac centers & ambulatory surgical centers are likely to experience high demand for coronary stents. Among the coronary stents, the stents made up of cobalt, are in high demand by the doctors, followed by platinum. Furthermore, advancement in the field of molecular biology has equally enhanced the coronary stents in terms of the safe products. And the technologically advanced and cost efficient stents are expected to be the driving factors for the coronary stents market.
The growing geriatric population and increasing number of diabetic patients are key factors for rise in the number of the heart disease cases. For instance, as per the the American Heart Association (AHA), the number of Americans above the age of 65 and older is anticipated to grow more than double from 46 million in 2016 to nearly 98 million by 2060.The cause of the increasing number heart patients is the obesity the obese people also unknowingly invite the heart diseases and the Americans seems to be the obese due to their heavy diet. The growth of the geriatric population and the other habits factors are likely to grow the need of the coronary stent market in coming future.
The market for the coronary market is likely to grow more in the Asia Pacific region owing to developments in the region and rising awareness on better healthcare. In addition, the countries like Japan, China, and India are investing in improving healthcare infrastructure. Furthermore these countries have presence of large pool of population with heart diseases.
The market for coronary stents is well established in the region of North America, owing to the awareness regarding medical practices and technological developments in the treatment of cardiovascular diseases. Coronary stents is mature market in some of the region such as Japan, whereas, with some recent development in countries such as India, China, Indonesia and Taiwan, the demand for these devices is expected to upsurge in the coming years. Additionally, factors such as increasing focus of industry players in India and Japan, funds and grants in China are likely to propel growth of the market.
The key players operating in the field of Coronary Stents worldwide include 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.
The report segments the global coronary stents market as follows:
Global Coronary Stents Market - By Type
- Biodegradable Stents
- Bare Metal Stents
- Drug Eluting Stents
Global Coronary Stents Market - By Absorption Rate
- Slow Absorption Rate
- Fast Absorption Rate
Global Coronary Stents Market - By Material
- Stainless Steel
- Cobalt Alloy Metal
Global Coronary Stents Market - By End-User
- Ambulatory Surgical Centers
- Cardiac Centers
Global Coronary Stents Market - By Geography
- North America
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
- South Africa
- South America (SAM)