The Coronary Stents Market to grow at a CAGR of 6.12% during the forecast period 2017–2023 to aggregate $11.1 billion by 2023
Increasing prevalence of cardiovascular diseases, increasing aging population, and growing acceptance of minimally invasive endovascular surgeries are expected to drive the market growth during the forecast period.
Infoholic Research LLP, a global market research and consulting organization, has published a study titled “Coronary Stents Market – Global Drivers, Restraints, Opportunities, Trends, and Forecasts to 2023” (September 2017).
According to Infoholic Research, cardiovascular diseases (CVDs) are one of the most common causes of death globally. According to the World Health Organization (WHO) statistics, around 17.5 million deaths are reported due to CVDs every year, which represents a total of 31% of the global death rate. Out of this, 7.4 million deaths are due to coronary heart diseases and 6.7 million is due to stroke. Coronary artery disease (CAD) is one of the common heart diseases accounting for around 45.1% of the deaths in the US. This condition arises when the coronary arteries narrow due to the formation of plaques, thereby, hardening and reducing their flexibility. Lifestyle variations, such as healthy food, workout regimen, and quitting smoking, help to recover from CAD risk.
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The increasing prevalence of cardiovascular diseases, the increasing aging population, and the growing acceptance of minimally invasive endovascular surgeries are expected to drive the market growth during the forecast period. However, stringent government regulations, high cost associated with stent implants, and the availability of alternative treatment procedures are hampering the growth of the market. According to Infoholic Research, the Global Coronary Stents Market is expected to grow at a CAGR of 6.12% during the forecast period 2017–2023 to touch an aggregate of $11.1 billion by 2023.
The Global Coronary Stents Market is analyzed based on three segments, namely stents type, end-users, and regions. The regions covered in the report are North America, Europe, Asia Pacific, and Rest of the World (ROW). In North America, the US and Canada are set to be the leading countries. Europe is set to be the second leading region and held more than 27.2% of the market share in 2015. Germany is one of the leading countries in Europe in terms of revenue. In Asia Pacific, India, China, and Japan are the most attractive countries for the players and they hold huge business opportunities. ROW is set to be an emerging market in the next 5–6 years.
The types of stents covered in the report are bare metal stents, drug-eluting stents, and bio absorbable stents. Bio absorbable stents are expected to gain more market share by 2023. The pipeline for drug-eluting stents is quite robust with multiple new stent types emerging across various stages of clinical development. The drug-eluting stents segment comprised nearly three-fourths of the of the global market share in 2016. The market is expected to be on a positive year on year growth rate due to the increasing incidence of cardiovascular diseases.
“Coronary Stent Market is currently growing at a steady rate in the market. The advent of technologically advanced bio resorbable stents and drug-eluting stents is expected to reduce the market share of bare metal stents. The price of the conventional stents is also expected to reduce in the future as new stents and scaffolds enter the market.” – Rikitha K Murthy, Research Analyst (Research – Healthcare) at Infoholic Research
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Further, the report also aims to cover the below points:
- An in-depth analysis of the key business opportunities in countries and verticals
- Complete details about the various types of coronary stents
- Details about the analysis of top 11 players in the market
- Industry outlook including current and future market trends, drivers, restraints, and emerging technologies