Coronary Stents Market Report: Key Insights
According to our latest study on “Coronary Stents Market Forecast to 2025 – Global Analysis – by Type, Absorption Rate, Material, and End User,” the market size is expected to grow from US$ 7,223.2 million in 2016 to US$ 13,879.0 million by 2025; it is estimated to grow at a CAGR of 7.8% from 2016 to 2025. Coronary stents are small, expandable tubes usually made of metal mesh to treat narrowed arteries in the body. In individuals with coronary heart disease caused by plaque buildup, coronary stents can open narrowed arteries, reduce symptoms such as chest pain and help treat a heart attack. The stent helps prop the artery open, decreasing its chance of narrowing again. Most stents are coated with a drug (drug-eluting stents) to assist in keeping the artery open. Coronary stents are put into arteries after expanding the artery. This process is called percutaneous coronary intervention or coronary angioplasty.
Rising Geriatric Population Fuels Coronary Stents Market Value and Growth
The geriatric population is prone to heart disorders due to weak immunity and other related health problems. For instance, the number of Americans aged 65 and older is expected to grow from 46 million in 2016 to 98 million by 2060. The 65 years and older age group's share in the world's population is expected to increase around 24% from 15%.
In 2017, Europe had the most significant population aging more than 60 or above (25%). Except for Africa, other regions are expected to have nearly a quarter or more of their populations at ages 60 and above by 2050. The world's number is anticipated to be 1.4 billion in 2030 and 2.1 billion in 2050 and will rise above 3.1 billion by 2100. The rising aged population, having cardiac disorders due to changing lifestyles, may require coronary stents for their treatment. These factors are likely to expand the coronary stents market size in the coming years.
Coronary Stents Market to 2025 - Global Analysis and Forecasts by Type (Bioabsorbable Stents, Bare-Metal Stents, and Drug-Eluting Stents), Absorption Rate (Slow-Absorption Rate Stents and Fast-Absorption Rate Stents), Material (Nitinol, Polymer, Gold, Tantalum, Stainless Steel, and Cobalt Alloy Metal), and End User (Ambulatory Surgical Centers, Hospitals, and Cardiac Centers)
Coronary Stents Market Analysis, Share and Size by 2025
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Coronary Stents Market: Segmental Overview
Based on type, the global coronary stents market is segmented into drug-eluting stents, bare-metal stents, and bioabsorbable stents. In 2017, the drug-eluting stents segment held the largest market share and is anticipated to register the highest CAGR during the forecast period. On the basis of absorption rate, the global market is bifurcated into fast-absorption rate stents and slow-absorption rate stents. In 2017, the slow-absorption rate stents segment held the largest market share and is anticipated to register a higher CAGR in the market during 2016–2025. Based on material, the global market is segmented into cobalt, platinum, nickel, stainless steel, nitinol, tantalum, polymer, and gold. In 2017, the cobalt segment held the largest market share and is anticipated to register the highest CAGR during the forecast period. Based on end users, the global coronary stents market is segmented into hospital, ambulatory surgical centers, and cardiac centers. The hospital segment held the largest coronary stents market share in 2017 and is anticipated to register the highest CAGR in the market during 2016–2025.
Cornary Stents Market: Competitive Landscape and Key Developments
MicroPort Scientific Corporation; Translumina GmbH; Abbott Laboratories; Terumo Corporation; Medtronic; BIOSENSORS INTERNATIONAL GROUP, LTD.; STENTYS SA; Vascular Concepts; B. Braun Melsungen AG; and BIOTRONIK SE & Co. KG are a few companies operating in the coronary stents market. The coronary stents market report offers a detailed competitive landscape consisting of organic and inorganic activities performed by key players operating in the global market. The leaders focus on new product launches, expansion and diversification, and acquisition strategies, which allow them to tap into prevailing business opportunities for the coronary stents market during the forecast period.
- In March 2018, Microport announced its product, FOXTROT NC PTCA, and gained regulatory approval in Malaysia. This development helped the company have better customer base in Malaysia.
- In May 2016, Cardinal Health announced to enter into a distribution agreement with Biosensors that enables Cordis, Cardinal Health's interventional vascular business to sell Biosensors' coronary stent portfolio. Cordis decided sell Biosensors' coronary stents in Europe, the Middle East & Africa, Australia, and New Zealand.
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