Coronary Stents Market size to exceed $8bn by 2025

Coronary Stents Market size is set to exceed USD 8.0 billion by 2025; according to a new research report by Global Market Insights, Inc.
 

Increasing demand for minimally invasive surgical procedures will significantly drive the coronary stents industry growth over the forecast period. Minimally invasive surgical procedures reduce the post-operative complications and trauma, thereby boosting product demand.

 

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Growing prevalence of cardiovascular diseases will show a positive growth trajectory for coronary stents industry

Global Coronary Stents Market

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Rising prevalence of cardiovascular diseases (CVD), especially valvular disorders, has been a chief growth driver for the coronary stents market. Coronary heart disease is one of the most common vascular disorder that affects millions of people across the world. Such disorders lead to chest pain, followed by cardiac stroke. As per the Centers for Disease Control and Prevention (CDC), in 2017, nearly 370,000 people died due to coronary heart disease in the U.S. Moreover, vascular disease is the leading cause of death for people of most ethnicities in the U.S. Hence, growing prevalence of heart disorders will considerably drive the industry growth.
 

Commercialization of novel coronary stents will drive product demand

Coronary stents are commercialized by various top players such as Medtronic, Abbott and others. Increasing number of product launch by such key industry players will considerably boost product demand, thus augmenting market growth. For instance, in October 2017, Abbott introduced the Xience Sierra; the new generation everolimus-eluting coronary stent system in Europe. This new launch assisted the company to expand its coronary stents product portfolio, thus serving a broader customer base. Moreover, technological advancements primarily focusing on design innovations will further augment business growth.
 

Browse key industry insights spread across 120 pages with 114 market data tables & 9    figures & charts from the report, Coronary Stents Market Size By Product (Drug Eluting Stent, Bare Metal Stent, Bioresorbable Vascular Scaffold), By End-Use (Hospitals, Cardiac Centers, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook, Price Trends, Application Potential, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/coronary-stents-market
 

Technological developments in the stents will spur revenue growth

Product segment for coronary stents includes drug eluting stents, bare metal stents and bioresorbable vascular scaffold (BVS). BVS will witness growth rate of 5.7% from 2019 to 2025. Increasing technological advancements will be the major factors driving business growth. Various companies are offering range of products that offer greater productivity and efficiency along with easy-to-use functionality. Also, low post-operative complication and shorter recovery time are other advantages associated with BVS, thus fostering segmental growth.    
 

Coronary stents are widely used in hospitals, cardiac centers and ambulatory surgical centers. Cardiac centers are expected to reach USD 3.7 billion by 2025. Increasing prevalence of cardiac disorders will significantly drive segmental growth. Additionally, rising number of cardiac centers across the developed economies is another major factor propelling industry growth. Moreover, availability of advanced facilities in the cardiac centers will considerably boost demand, thus driving the coronary stents industry growth.
 

More patients opted for stents after prices were slashed in India

India coronary stents market held revenue of USD 466.1 million in 2018 and will witness steady growth in the future. Imposing a price cap on coronary stents by the National Pharmaceutical Pricing Authority (NPPA) has enabled a large number of patients from mid-income groups to undergo surgical procedures. After the reduction in price of coronary stents, the number of patients who underwent heart surgeries rose by 43% in India. Moreover, increasing number of foreign companies investing in the Indian market will significantly drive regional growth.
 

Companies are launching novel products to expand the customer base

Few of the leading companies such as Abbott, B. Braun, Biotronik, Biosensors International Group, Ltd., Medtronic plc and Boston Scientific Corporation are dominating the overall coronary stents market. These companies are adopting various strategies such as new product launch, geographic expansion, mergers, acquisitions and partnerships with leading distributors to sustain the increasing competition. For instance, in February 2018, Medtronic plc announced the launch of Resolute Onyx 2.0 mm Drug-Eluting Stent (DES); the smallest DES in the coronary stents industry. This novel stent is proposed to assist cardiologists to treat patients with minor vessels often untreatable with large stents during coronary interventions. This product launch enabled the company to expand its existing customer base and strengthen the market position.
 

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