Global Coronary Stent Market to Witness a CAGR of 8.7% during 2019-2025
NEW YORK, May 08, 2019 (GLOBE NEWSWIRE) -- The global coronary stent market is expected to grow from USD 7,756 million in 2018 to USD 13,907 million in 2025, at a CAGR of 8.7% from 2019 to 2025. The growth in the market is attributed to the increasing prevalence of coronary artery diseases and heart valve disorders, and technological advancement in coronary stents. Moreover, growing demand for drug-eluting stents and biodegradable polymer-coated coronary stents, favorable reimbursement policies, and growing government support and new product launches are further propelling the industry growth. However, high cost associated with advance coronary stents may hamper the market growth to some extent.
Coronary stent is tube-shaped device, which is introduced into coronary arteries that are blocked due to an underlying atherosclerosis disease. Coronary stent is used to open narrowed arteries and reduce symptoms such as heart attack or chest pain.
Key findings from the report:
-- On the basis of product type, the drug-eluting stents segment held the major share of the market in 2018. Growing research and development activities in drug-eluting stents is propelling the segment growth. -- Based on end-user, o The hospitals segment held major share of the market in 2018, owing to growing number of surgeries that are performed in the hospitals o The ambulatory surgical center segment is expected to witness highest CAGR during the forecast period -- Geographically, North America held the major share of the global market in 2018. Asia-Pacific is expected to witness the highest CAGR during the 2019-2025. -- Some of the key companies operating in the market include Terumo Corporation; Biotronik SE & Co. KG; Abbott Laboratories; Boston Scientific Corporation; B. BRAUN MELSUNGEN AG; MicroPort Scientific Corporation; Medtronic; C. R. Bard, Inc.; and Stentys SA, among others
High prevalence of heart diseases to drive the coronary stents market
Coronary artery diseases are caused by plaque, which is buildup in the wall of the arteries that supply blood to the heart and other parts of the body. Plaque buildup causes the inside of the arteries to narrow over time, resulting in partially or totally blocked blood flow. In these cases, a stent is placed in an artery as a part of percutaneous coronary intervention. Heart disease has been leading cause of death across the world. Therefore, the demand for medical devices for treatment of heart disease is expected to increase. Moreover, growing research and development activities, and new product launches are further anticipated to foster the market demand over the forecast period.
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Coronary Stents Market – Regional insight
Geographically, North America held the largest share of the market in 2018. The growth in the region is attributed to the increasing prevalence of coronary arteries diseases, favorable reimbursement scenario, and technological advancements in coronary stents. Moreover, growing preference for minimally invasive surgeries, and increasing government initiatives to support new product approvals are further augmenting the market growth in the region. The growth of coronary stent market in Europe is primarily due to increasing number of new product launches, and growing demand for drug-eluting stents. Asia-Pacific is expected to witness the highest CAGR during 2019-2025, due to growing number of percutaneous coronary intervention procedures performed in the region.
This report segments global coronary stent market based on product type, material, mode of delivery, end-user and region.
By Product Type
-- Drug-Eluting Stents -- Bioabsorbable Stents -- Bare Metal Stents
-- Metallic -- Polymeric -- Natural
By Mode of Delivery
-- Self-Expanding Stents -- Balloon-Expandable Stents
-- Ambulatory Surgical Centers -- Hospitals -- Cardiac Centers
-- North America -- Europe -- Asia-Pacific -- Central & South America -- Middle East and Africa (MEA)
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