Pune, India, Oct. 04, 2021 (GLOBE NEWSWIRE) -- The global stents market is expected to witness a healthy growth owing to the rising prevalence of coronary heart and cardiovascular diseases. Key market insights have been shared by Fortune Business Insights in its report, titled “Stents Market Size, Share and Global Trend By Type (Coronary Stent, Vascular Stents, Ureteral Stent, Esophageal Stent), By Product (Dual Therapy Stents, Bioresorbable Vascular Scaffolds, Bio-engineered Stents), By Material (Non-degradable, Degradable), By Design (Coil, Helical spiral), By End User (Hospitals, Specialty Clinics), and Geography Forecast till 2026”. The report puts forth a comprehensive market analysis and provides key information about the major factors that will influence the market.
A stent is a small tube, made either out of plastic or metal. that is placed into a clamped coronary artery to keep it open. It is used in a procedure called angioplasty, which is performed to open blocked arteries and restore blood flow. A stent is placed into the affected artery immediately following an angioplasty so that it remains open. The tube is coated with medication for it to last a long period of time and prevent the blocked artery from closing up again.
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Faster Recovery Rates to Boost the Market
Stent treatments for coronary heart diseases have been proven to have faster rate of recovery than conventional coronary bypass procedures. This bodes well for the global stents market as it will boost the adoption rate of stents. Moreover, stent treatments are much less invasive than bypass surgeries, which can help in making patients switch to such procedures more readily. In addition to this, there is a rising prevalence of coronary heart diseases. For example, recent numbers revealed by the Centre for Disease Control and Prevention show that 735,000 Americans are diagnosed with heart disease. This is expected to expand the global stents market size substantially in the forecast period.
Multiple Benefits to Encourage Adoption
The global stents market is expected to surge as rising awareness about the numerous benefits of stenting will boost adoption rates. For example, stenting can reduce conditions associated with heart diseases such chest pain and fatigue. Furthermore, stenting even improves the functioning of kidneys. Thus, the procedure has been known to significantly improve lives of patients, which augurs well for the global stents market.
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High Cost of Stents May Hinder Market Growth
According to a 2018 study published in Health Affairs, coronary stents cost 6 times more in the US than in Europe. Thus, high cost of treatment is expected to have a negative impact on the global stents market as a large section of population may not be able to afford the treatment.
Moreover, there are a few risks involved in stenting. For example, after the procedure is completed and the stent has been placed, scar tissue may form within the stent which would require another surgery. A person may also have an allergic reaction to the stent, which can again require medical attention. These factors may hamper the growth of the global stents market.
North America to Occupy a Leading Market Position
Among the regions, North America is expected to hold a dominant position and share in the global stents market during the forecast period. This owing to the increasing number of heart disease patients and presence of important market players that are investing in research and developing innovative products. Asia-Pacific is also expected to contribute significantly to the global stents market expansion on account of growing incidence of heart diseases and development of affordable stent treatments, especially in India.
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Increasing Research and Innovation to Drive Competition
Competition in the global stents market is expected to intensify as market players look to gain a competitive edge through increased investment in research and launching of innovative products. For example, in 2017, the US-based Elixir Medical Corporation released Desolve Absorbable Stent, along with Dynamix metallic drug-eluting stent, to further its innovations in adaptive remodeling.
Some of the key players in the global stents market, as identified by Fortune Business Insights, include Boston Scientific Corporation, Terumo Corporation, Cardinal Health, Abbott, BD, Biosensors International Group, and a few others.
SECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:
- Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies
- Details in relation to prevalence, incidence, patient numbers, distribution of patients, average price of treatment, etc.
- Number of end user facilities by region/country and average annual spending or procurement of devices by type of end user facility
- Number of procedures and average price of procedures
- Replacement rate and pricing of capital equipment
- Market dynamics in relation to the market under focus – Drivers, restraints, trends, and opportunities
- Market & technological trends, new product developments, product pipeline.
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