Pune, June 03, 2020 (GLOBE NEWSWIRE) -- The global coronary stents market size is projected to reach USD 8414.5 million by the end of 2025. Technological advancements have opened up a huge potential for market growth. According to a report published by Fortune Business Insights, titled “Coronary Stents Market Size, Share and Global Trend by Deployment (Self and Balloon-expandable), Stent Type (Drug Eluting Stent, Bioresorbable Stent, Bare Metal Stent, Covered Stent and Others), End User (Hospitals, Ambulatory Surgical Centers, Specialty Clinics, Catheterization Labs) and Geography Forecast till 2025,” the market was worth USD 5,244.9 million in 2017 and will exhibit a CAGR of 6.1% during the forecast period, 2018-2025.
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Coronary stents are compact metal mesh that are used in percutaneous coronary intervention procedures. They are used to regulate the blood flow to the heart. The technological advancements in coronary stents have allowed improved surgical procedures and minimized risks. The stability offered by these products in surgical procedures will bode well for the growth of the overall market in the coming years. The presence of several favorable reimbursement policies will lead to a wider product adoption in the coming years. The cost effectivity of these products, coupled with the ease of availability in hospitals, will aid the growth of the market in the forthcoming years.
Increasing Number of Regulatory Approvals Will Constitute an Increase in Global Market Size
The report encompasses several factors that have contributed to the growth of the overall market in recent years. Among all factors, the increasing number of regulatory approvals by leading organizations such as the Food and Drug Administration (FDA) has made the highest impact on market growth. In February 2019, Medtronic announced that it has received an approval from the US FDA for its latest coronary stent platforms. The company announced that it has received clearance for ‘Resolute’ drug elating stent (DES) platform and the Resolute Integrity DES platform.
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The company claims that these platforms can be hugely beneficial for treatment in patients suffering from coronary heart diseases. Medtronic’s latest product approvals will not just benefit the company but will have a direct impact on the growth of the overall market in the coming years.
North America to Emerge Dominant; Adoption of Sedentary Lifestyle Habits to Aid Growth
The report analyses the ongoing market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the market in North America is projected to emerge dominant in the coming years. The presence several large scale manufacturers in Canada and the U.S. will aid the growth of the market in this region.
The growing adoption of sedentary lifestyle habits among people in this region will lead to a wider adoption of coronary stents this region. As of 2017, the market in North America was worth USD 1,616.2 million and this value is projected to increase further in the coming years. The market in Asia Pacific is projected to exhibit the highest CAGR in the coming years, driven by the efforts put in for expansion of distribution networks by major companies. The increasing availability as well as huge supply of coronary stents in hospitals will contribute to market growth.
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List of key companies profiled in the Coronary Stents Market Research Report are:
- Biotronik SE & Co. KG
- Cardinal Health
- Cook
- C. R. Bard, Inc.
- MicroPort Scientific Corporation
- Terumo Corporation
- B. Braun Melsungen AG
- Abbott
- Boston Scientific Corporation
- Medtronic
- Other players
Industry Developments:
May 2019: Medtronic announced the launch of TELESCOPE guide extension catheter; a product used for enhancement of smooth delivery of coronary stents during complex coronary artery surgeries.
September 2018: BIOTRONIK, Inc., announced that it has received U.S.FDA approval for PK PAPYRUS Covered Coronary Stent System. This product is used to seal the perforation so as to stop the blood leakage during surgical procedure and avoid life-threatening complication.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Prevalence of Coronary Artery Diseases (CAD)- Key Countries, 2017
- Health Reimbursement Scenario- Key Countries
- Regulatory Scenario- Key Countries
- Pricing Analysis
- Key Industry Developments - Partnerships, Mergers & Acquisitions
- Global Coronary Stents Market Analysis, Insights and Forecast, 2014-2025
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Deployment
- Self-Expandable
- Balloon Expandable
- Market Analysis, Insights and Forecast – By Stent Type
- Drug Eluting Stents (DES)
- Bioresorbable Stents
- Bare Metal Stents
- Covered Stents
- Others
- Market Analysis, Insights and Forecast – By End User
- Hospitals
- Ambulatory Surgical Centers
- Specialty Clinics
- Catheterization Labs
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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