(PharmaNewsWire.Com, November 13, 2021 ) According to the research report the Coronary Stents Market is expected to reach USD 10.31 billion by 2021 from USD 7.16 billion in 2016, at a CAGR of 7.6% from 2016 to 2021.
Major factors driving the growth of this market include technological advancements, increasing number of percutaneous coronary intervention (PCI) procedures, rising burden of CAD, increasing demand for minimally invasive procedures, and rising geriatric population.
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> Coronary Stent: Market Overview
> Coronary Stent Market, By Type
> Market, By Mode of Delivery (2016 vs 2021)
> Coronary Stent Market, By Material (2016 vs 2021)
> Metallic Coronary Stent Market, By Type (2016)
> Market, By End User
> Geographic Snapshot: Coronary Stent Market
Based on mode of delivery, the Coronary Stent Market is segmented into balloon-expandable stents and self-expanding stents. The balloon expandable stents segment is expected to grow at the highest CAGR during the forecast period due to factors such as increasing research activities to improve this technology, high utilization of these stents, and growing regulatory approvals for balloon-expandable stents.
Based on type, the market is segmented into bare-metal stents, drug-eluting stents and bioabsorbable stents. The drug-eluting stents segment is expected to account for the largest share of the coronary stents market in 2016. This can primarily be attributed to the advantages of drug-eluting stents over bare-metal stents, such as lower risk of restenosis and other related complications.
Prominent players in the coronary stent market include Medtronic plc (Ireland), Abbott Laboratories (U.S.), Boston Scientific Corporation (U.S.), Biosensors International Group, Ltd. (Singapore), BIOTRONIK SE & Co. KG (Germany), B. Braun Melsungen AG (Germany), TERUMO CORPORATION (Japan), STENTYS SA (France), MicroPort Scientific Corporation (China), Meril Life Sciences Pvt. Ltd. (India), Vascular Concepts (India), and Translumina GmbH (Germany).
Major Market Developments:
> In November 2016, Abbott received approval from the Ministry Of Health, Labor And Welfare (MHLW) (Japan) for its Absorb bioresorbable heart stent. This is the only dissolving heart stent used for the treatment of patients with coronary artery disease in Japan. This approval will help the company expand its presence in the Japanese market.
> In January 2016, Abbott acquired St. Jude Medical, Inc. (U.S.), a manufacturer of products for heart failure, atrial fibrillation, and cardiac rhythm management for USD 25 billion. The acquisition helped Abbott to strengthen its coronary intervention product offerings and increase its presence in the cardiovascular devices market
> In May 2016, Boston Scientific collaborated with Mayo Clinic (U.S.) to share intellectual property and speed the development of medical devices. This collaboration focuses on the development of medical technologies in the fields of interventional cardiology, heart rhythm management, endoscopy, neuromodulation, urology and pelvic health. This will help the company to strengthen its product offerings.
Based on region, the Coronary Stent Market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). In 2016, North America is expected to dominate the market, followed by Europe. Asia is poised to be the fastest-growing region during the forecast period.
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