Newark, NJ, Nov. 17, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global coronary stents market is expected to grow from USD 8.29 billion in 2020 and to reach USD 12.13 billion by 2028, growing at a CAGR of 4.87% during the forecast period 2021-2028.
Over the forecast period, rising incidence of cardiovascular illnesses (CVDs) such as stroke and heart attack, as well as an ageing population at increased risk of major cardiac illnesses, are likely to drive demand for coronary stents. The need for an efficient coronary stent for treatment is expected to rise due to an extraordinary increase in the number of people with CAD. During the predicted years, this factor is likely to raise demand. Another factor projected to promote the utilisation of coronary stents throughout the projected period is the increased desire for minimally invasive procedures (MIS). These treatments have the benefit of having tiny incision wounds, which leads to increased patient satisfaction. These treatments also result in shorter hospital stays and faster recovery times.
A coronary stent is a tube-shaped device that is put into the coronary arteries that provide blood to the heart to maintain the arteries open in the treatment of coronary heart disease. It is used in the procedure known as percutaneous coronary intervention (PCI). Coronary stents are now used in more than 90% of PCI operations. Stents have been shown to improve survival and reduce angina in those who have had an acute myocardial infarction (chest discomfort). Coronary stents (CS) are expandable tubular metallic implants that are put into narrowed coronary arteries caused by atherosclerosis. This revascularization procedure is known as percutaneous coronary intervention (PCI) or coronary angioplasty with stent placement. Due to the expandable, metallic meshwork of coronary stents, which prevents negative remodelling, coronary dissection and vascular recoil were eliminated with the introduction of coronary stents.
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Furthermore, market development has been aided by a rise in the number of percutaneous coronary intervention (PCI) operations performed in recent years. Because of the development of sophisticated DES and emerging bioresorbable scaffolds, stenting is becoming more popular than traditional balloon angioplasty. Technological advances in coronary stents, such as the invention of bifurcation stents and the use of biodegradable materials, have resulted in more effective and better CVD treatment results. Product creation, partnerships, and strategic collaborations are all things that companies are actively interested in.
Key players operating in the global coronary stents market include Terumo Corporation, Cook Medical, MicroPort Scientific Corporation, Abbott, Boston Scientific and C. R. Bard, Inc. To gain a significant market share in the global coronary stents market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
Bare metal stents (BMS) is expected to witness a significant value of USD 4.32 billion by 2028
The product segment includes drug eluting stents, bare metal stents and bioresorbable vascular scaffolds (BVS). Bare metal stents (BMS) is expected to witness a significant value of USD 4.32 billion in 2028. Even though DES is gradually replacing BMS, it is still utilised in many PCI procedures because its inexpensive and has low hospitalisation rates. After DES, bioresorbable scaffolds (BRS) are the most recent technology to hit the market. For example, in 2016, Abbott released Absorb, the first bioresorbable vascular scaffold technology. However, in 2017, the business issued a global recall of the medication due to certain negative side effects. Companies are investing in the development of next generation BRS that are more patient-friendly.
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Regional Segment Analysis of The Coronary Stents Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
Based on geography, the global coronary stents market is classified into North America, Europe, South America, Asia Pacific, and Middle East and Africa. In 2028, Asia Pacific is anticipated to have the highest value of USD 3.02 billion. A large ageing population with cardiovascular disease, increasing PCI operations, expanding healthcare infrastructure in emerging countries, increased healthcare awareness, improved reimbursement scenarios, and cheap production costs of coronary stents in this area are all driving the market.
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About the report:
The global coronary stents market is analyzed based on value (USD billion). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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