Selbyville, Delaware, March 02, 2021 (GLOBE NEWSWIRE) --
According to latest report “Coronary Stent Market by Product (Bare Metal Stents, Drug Eluting Stents, Bioresorbable Vascular Scaffold), End-use (Hospitals, Cardiac Centers, Ambulatory Surgical Centers), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027”, by Global Market Insights, Inc., the market valuation of coronary stent will cross $8.7 billion by 2027.
Advancement in healthcare technology is anticipated to significantly boost the market growth. Coronary stent technology has shifted to elastic recoil along with plain balloon angioplasty and abrupt vessel closure from mechanical solutions. It has become a vector for modification and normal drug delivery of coronary plaque pathophysiology. Drug eluting stents technology has evolved tremendously since the first introduction of the paclitaxel-eluting stents. Drug eluting stents reduces restenosis. Current research is being carried out to develop and innovate the novel coatings to promote growth of endothelial cells. All such benefits will increase the demand of stents products that will drive the market expansion.
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The bioresorbable vascular scaffold segment in the coronary stent market accounted for USD 416 million in 2020. Minimally invasive surgeries are increasing led by constant transformation based in advancement of technology in cardiac surgical procedures. Bioresorbable vascular scaffold reduces complication such as inflammation and thrombosis, improves abnormal endothelial function, restore normal vasomotion. These advantages associated with bioresorbable vascular scaffold and growing demand for minimally invasive procedures will fuel the segment growth. However, cost associated with this stent is relatively more that is expected to hamper the segment expansion.
The coronary stent market for cardiac centers segment will showcase lucrative growth rate of 4.6% through 2027 propelled by increasing prevalence of coronary artery diseases, reduced cost of post cardiac surgeries along with focus on improving the life expectancy of patients. Moreover, the outreach of specialized cardiac centers to vast patient pool along with availability of advanced technologies and treatment options will influence the segment revenue.
Asia Pacific coronary stent market held more than 50% of revenue share in 2020 on account of increasing prevalence of chronic diseases such as cancer and cardiac diseases in the region. Major market players are focusing on next generation of coronary stents due to the growing demand of the patient population. Also, the demand for minimally invasive surgical procedures is growing owing to its various advantages such as small scars, low risk of infection, shorter hospital stays, and short recovery time. Additionally, various regulations such as price capping in India will spur the acceptance of stents of local manufacturers that will foster the regional growth.
A few notable companies operating in the market include Abbott, Terumo, B Braun, Medtronic and Boston Scientific Corporation among others. Industry leaders are focusing on various strategies such as acquisitions, business expansion and novel product launches to consolidate their market presence.
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Table of Contents (ToC) of the report:
Chapter 3. Coronary stent Market Insights
3.1. Industry segmentation
3.2. Industry landscape, 2016 - 2027
3.3. Industry impact forces
3.3.1. Growth drivers
3.3.2. Industry pitfalls & challenges
3.4. Growth potential analysis
3.4.1. By product
3.4.2. By end-use
3.5. COVID-19 impact analysis
3.6. Regulatory landscape
3.7. Technology landscape
3.8. Porter's analysis
3.9. Competitive landscape, 2019
3.9.1. Company matrix analysis
3.10. PESTEL analysis
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https://www.gminsights.com/toc/detail/coronary-stents-market
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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