LOS ANGELES, June 04, 2019 (GLOBE NEWSWIRE) -- Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Coronary Stents Market (Product: Bare Metal Stents, Drug Eluting Stent, Bio-absorbable Stent; Application: Angina, Myocardial Infarction) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2025”.
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The coronary stents prevents the patient from heart attack which is caused due to contraction of coronary arteries. The material used for stent is cobalt alloy or stainless steel tube and is attached to small balloons that give support to proper blood flow and protect vessel wall. The treatments require for coronary heart disease includes pharmaceuticals, balloon angioplasty, and stenting of coronary artery bypass grafting. Mostly, heart patients prefer stenting as compared to by-pass heart surgery, as it is minimally invasive surgery and performed with the support of local low sedation and anesthesia. The rising frequency of heart diseases is the main driver for the growth of coronary stents industry. Other factors that are driving the market growth are the acute coronary syndromes, hypertension, diabetes, and genetic disease like obesity that is prevailing in all the age groups owing to the unhealthy lifestyle and advancements in the technological of bio-absorbable stents. Moreover, the rise in demand of compensation polices by the government among patients are majorly responsible for the continuous growth of the global coronary stents market. However, the high cost of a single stents and implantation cost hamper the growth of market.
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Asia-Pacific Region Is Expected To Be the Fastest Growing Market for Coronary Stents During The Forecasted Period
The coronary stents market in Asia-Pacific is projected to witness the highest growth during the forecast phase. There is a high demand of coronary stents in India mainly due to approval of FDA (Food and Drug Administration) for new stents and also increasing number of PCI (Percutaneous Coronary Intervention) procedures in hospitals. In India, coronary stents market accounted for significant share due to rising health consciousness and increased health care expenditure which is further anticipated to drive the market during forecast period. Major factors of macroeconomic such as increase in FDI and government compensation polices in health care sector is estimated to drive growth of the market. Other drivers include rising affordability of coronary heart disease treatment and rapidly growing medical technology. Furthermore, the recurrence of abnormal narrowing artery after angioplasty is major factor expected to restraint overall growth of market during forecast period.
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Drug-Eluting Stents Is Expected To Capture Major Share
The coronary stents market is divided into drug-eluting stents, bare-metal stents and bio-absorbable stents. The major share of the coronary stents market will be held by drug-eluting stents in forecast period, owing to the more benefits compared to bare-metal stents and bio-absorbable stents. Drug-eluting stents prevents post-operation trauma and other complications such as it reduces risk of restenosis and other major disorders which will spur the demand for stents. It also has wide array of applications including ST segment elevation myocardial infarction (STEMI), diabetes and percutaneous that will boost growth of segment. Advance technology for improving patient’s outcomes and development of next generation of drug-eluting stents will spur demand for drug-eluting stents in forecasted period.
Competitive Analysis
Some of the key players operating in the global coronary stents market, profiled in the report include Abbott Vascular, Medtronic, Boston Scientific, B. Braun Melsungen AG, Biotronik SE & Co. KG, Terumo, Stentys SA, Becton Dickinson and Co., Cook Group, SMT and Micro Port among others. Abbott Laboratories, Boston Scientific Corporation, and Medtronic are the market leaders in the global coronary stents market. This top three market players are anticipated to hold more than 60% share of the market in 2016.
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