Coronary stents are small stretchy tube-like devices used to
expand the arteries of the patient in order to prevent blockage. A coronary
stent is inserted into the artery of a patient suffering from a coronary
disease due to the build-up of plaque. It is used for widening the narrowed
arteries, and it helps in reducing chest pain and the chance of heart attack
The global coronary
stent market is mainly
driven by the high prevalence of heart-related diseases and huge demand for
diagnosis and treatment methods. Additionally, the increasing availability of
diagnostic services for coronary heart diseases also fuels the growth of the
market. Moreover, favorable reimbursement policies are likely to boost the
market growth.
Many private and government insurance organizations are present in
developed countries. Over 50 private insurance companies are present in the
U.S. The policies cover more than 75% of the cost of the devices and treatment.
For instance, under the Medicare plan in the U.S., if the average cost of three
stents is approximately USD 10,000, then USD 7,500 is reimbursed. Additionally,
in developed countries such as the U.K., Canada, and Germany, other similar
reimbursement policies are available. On the other hand, alternative treatment
methods for coronary arteries disease and numerous cases of product recalls may
hamper the market growth.
The global coronary stent market is expected to have a CAGR of
7.8% during the forecast period.
Intended Audience- Medical
Device Manufacturers
- Medical
Device Suppliers
- Medical
Research Laboratories
- Research
and Development (R&D) Companies
- Market
Research and Consulting Service Providers
- Potential
Investors
Segments
The global coronary stent market is segmented on the basis of
type, mode of delivery, material, and end-user.On the basis of type, the market is segmented into bare-metal stents, drug-eluting stents, and bio absorbable stents.
On the basis of mode of delivery, the market is segmented into
balloon-expandable stents and self-expanding stents.
On the basis of material, the market is segmented into metallic
stents, cobalt chromium, platinum chromium, nickel titanium, stainless steel,
and others.
On the basis of end-user, the market is segmented into hospitals
and clinics, cardiac centers, ambulatory surgical centers, and others.Regional Analysis of the Global Coronary Stent Market
The American coronary stent market is segmented into two regions, namely, North America and South America. North America, being the largest market, is mainly driven by the increasing patient population suffering from coronary heart disease, growing investment in healthcare, and increasing geriatric population. Furthermore, the U.S. is the largest market in North America owing to the presence of a large number of market players manufacturing coronary stents and the increasing awareness about risk factors for the coronary heart disease. Canada is expected to be the fastest growing market which is driven by the overall increasing demand for medical devices with progress in coronary stent devices. South America is expected to be the fastest growing market due to technologically advanced devices for diagnosis and the increasing demand for treatment options of the coronary heart disease.
The European coronary stent market exhibits a positive growth with an increasing emphasis on the diagnosis of heart diseases and other related diseases. Moreover, Germany and the U.K. are the major contributors to the growth of the market. Additionally, the increasing expenditure in healthcare by major countries in Europe also accelerates the growth of the market.
Asia Pacific is expected to be the fastest growing market whose growth is attributed to the increasing burden of cardiovascular diseases and increasing focus on early diagnosis and treatment of heart diseases. Furthermore, other factors contributing to the growth of the market are lifestyle changes, the influence of western culture among adults, and addiction to smoking. Additionally, the increasing environmental pollution and exposure to harmful chemicals also attribute to the growth of the market.
The Middle Eastern and African market for coronary stents exhibits a steady rise with an increase in the number of healthcare facilities providing treatments for chronic conditions and the flourishing growth of the medical device sector especially diagnostic devices. In the African region, the awareness about the coronary heart disease is increasing the growth of the market.
Key Players in the Global Coronary Stent Market
Some of the key players in this market are BIOTRONIK SE & Co.
KG (Germany), B. Braun Melsungen AG (Germany), Terumo Corporation (Japan),
Medtronic plc (Ireland), MicroPort Scientific Corporation (China), Meril Life
Sciences Pvt. Ltd. (India), Vascular Concepts (India), and Translumina GmbH
(Germany), Abbott Laboratories (U.S.), Boston Scientific Corporation
(U.S.),STENTYS SA (France), Biosensors International Group, Ltd. (Singapore),
Kyoto Medical Planning Co. Ltd. (Japan), Elixir Medical Corporation (U.S.), and
Reva Medical Inc. (U.S.), and others.
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