(PharmaNewsWire.Com, March 20, 2018 ) The Global Coronary Stent Market was worth USD 7.16 billion in 2016 and estimated to be growing at a CAGR of 7.6%, to reach USD 10.31 billion by 2021. A stent is implanted in the body for treatment of cardiac abnormalities such as blocked blood vessels. In addition, stents are implanted in the esophagus to allow the passage of food and beverages in patients suffering from esophageal cancer. They are also inserted in the ureter to prevent obstruction of urine flow from kidney, in the gall bladder to allow passage of bile in patients suffering from gall bladder cancer, and in the abdomen & gastrointestinal tract. Stents are generally made of metals, polymers, and natural bioabsorbable materials.
One of the major driving factor of the market is the rising prevalence of diseases coupled with a spurt in the aging population. A lot of companies are investing in R&D projects related to stents which further fuels the growth. Many technological innovations are taking place in the field of stents. Further, there has been a rise in the acceptance of stents by patients. More joint reconstruction surgeries are being performed which aim at improving the quality of life. Over the past decade, the governments have increased their expenditure on the healthcare industry particularly in emerging nations. However, the cost of the stent increases with advancement in technology. This is a major restraint to the growth of the market. Also, the approval processes for stent manufacturing and selling is very stringent in many countries.
The Global market for Coronary Stent is broadly categorized into type, mode of delivery, material type and End user. By type, the market is further segmented into bare metal stents, drug eluting stemts and bioabsorbable stents. The market is expected to be driven by bioresorbable stents, mainly in the polylactic acid material. However, drug eluting stents will continue to generate major revenue. By mode of delivery, it is further classified into balloon expandable stents and self expanding stents. By material, market is analysed under metallic stents and other stents. By end user, the market is divided into hospitals, cardiac centres and ambulatory surgical centres. On the basis of geography, the global market is analysed under various regions namely North America, Europe, Asia-Pacific and Rest of the World. North America is expected to dominate the global market in 2016, with the U.S. accounting for a major share of this regional market. Asia is expected to grow at the highest CAGR during the forecast period.
Key players in this 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).
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