Coronary Stents Market Overview:
Global Coronary Stents Market was valued at $4,806 million in 2015, and is expected to reach at $9,003 million in 2022, registering a CAGR of 9.5% from 2016 to 2022. A coronary stent is a minute tube widely used to open narrowed artery during percutaneous coronary intervention procedure (PCI). This treatment procedure involves insertion of balloon-tipped tube (catheter) into an artery and is carried toward location of blockage. Furthermore, the stent expands and forms a scaffold after inflation of balloon, holding the artery open, and thereby improving the blood flow to the heart. Coronary stents are applicable in treatment of cardiac diseases, such as myocardial infarction, angina pain, and coronary artery disease. The demand for coronary stents has increased significantly, owing to rise in prevalence of coronary artery disease (CAD) globally. In addition, the emergence of innovation in coronary stents further drives the market growth.
Global Coronary Stents Market Segmentation
The global coronary stents market is segmented based on product, biomaterial, end user, and geography. Based on product, it is classified into drug-eluting stent, bare-metal stent, and bio-absorbable vascular stent. Based on biomaterial, it is categorized into metallic, polymeric, and natural biomaterial. Metallic stents are further classified into cobalt chromium (CoCr), platinum chromium (Pt-Cr), stainless steel, and nickel titanium. Based on end user, it is divided into hospital & clinic and ambulatory surgical centers. In metallic biomaterials segment, by type, cobalt chromium occupied dominant share in 2015, and is expected to maintain this trend during the forecast period, owing to features such as high flexibility, unique hydrophilic coating technology, excellent pushing ability, and ideal fitting for the narrow and tortuous lesions.
Drivers, Restraints, and Opportunities
The impact of the driving factors is expected to surpass the effect of restraints. Moreover, rise in R&D of coronary stents and untapped emerging countries are expected to provide new market opportunities to coronary stents manufacturers in the near future.
Drivers, Restraints, and Opportunities
Global Coronary Stents Market Key Product Segment
The metallic biomaterial segment accounted for a significant share in the global coronary stents market in 2015, and is expected to continue this trend during the forecast period.
Coronary Stents Market, By Biomaterial, 2015 (%)
LAMEA Coronary Stents Market
Rise in incidence of CAD and rapid adoption of coronary stents for the treatment drive the growth of the coronary stents market in LAMEA. However, due to low gross income in countries, such as Latin America, there are less expenditures on the development of new methods and devices for the treatment of CAD. Lack of healthcare facilities and increased need for treatment devices for CAD have increased the penetration of major players in the Middle East region. Nevertheless, the market growth is driven by improvements in healthcare infrastructure and rise in disposable income. Regionally, Saudi Arabia country in LAMEA region showcased the highest CAGR in 2015.
Saudi Arabia Coronary Stents Market ($Million), 2014-2022
The key players operating in the global coronary stents market include Abbott Laboratories, B. Braun Melsungen AG, Boston Scientific Corporation, C. R. Bard, Inc., Microport Scientific Corporation, Terumo Corporation, Medtronic plc., Biotronik SE & Co. KG, Biosensors International Group, Ltd., and Stentys SA.
The other significant players in the value chain include Meril Life Sciences Pvt. Ltd., Vascular Concepts Limited, Translumina GmbH, REVA Medical, Inc., and Elixir Medical Corporation.
Key Benefits for Stakeholders
- The study provides an in-depth analysis of the global coronary stents market, with current trends and future estimations to elucidate the imminent investment pockets from 2014 to 2022.
- A quantitative analysis from 2014 to 2022 to enable the stakeholders to capitalize on the prevailing market opportunities is discussed.
- Key market players are profiled and their strategies are analyzed thoroughly, which helps understand competitive outlook of the market.
- Porters Five Forces model elucidates the bargaining power of suppliers & buyers, threat of new entrants & substitutes, and competition among the key players.
Coronary Stents Market Key Segments:
- Drug-Eluting Stent
- Bare-Metal Stent
- Bioabsorbable Vascular Stent
- Cobalt Chromium (CoCr)
- Platinum Chromium (Pt-Cr)
- Stainless Steel
- Nickel Titanium
- Polymeric Biomaterial
- Natural Biomaterial
By End User
- Hospital & Clinic
- Ambulatory Surgical Centers
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA