Synopsis
of the Global Coronary Stent Market
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.
Key
Players in the Global Coronary Stent
Market
·
Abbott Laboratories (U.S.)
·
Boston Scientific Corporation (U.S.)
·
Elixir Medical Corporation (U.S.)
·
Reva Medical Inc. (U.S.)
·
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)
·
Translumina GmbH (Germany)
·
STENTYS SA (France)
·
Biosensors International Group, Ltd. (Singapore)
·
Kyoto Medical Planning Co. Ltd. (Japan)
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.
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
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.
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.
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Table Of Contents
1 Introduction
1.1 Definition
1.2 Scope Of Study
1.2.1 Research Objective
1.2.2 Assumptions & Limitations
1.2.2.1 Assumptions
1.2.2.2 Limitations
1.3 Market Structure:
2 Research Methodology
2.1 Research Process:
2.2 Primary Research
2.3 Secondary Research:
3 Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Macroeconomic Indicators
4 Market Factor Analysis
4.1 Porters Five Forces Model
4.2 Bargaining Power Of Suppliers
4.3 Bargaining Power Of Buyers
4.4 Threat Of New Entrants
4.5 Threat Of Substitutes
4.6 Intensity Of Rivalry
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