The global coronary stent market exhibited a value of USD 5,753.7 million in 2017, and is expected to reach USD 8,365.3 million by 2025, growing at a CAGR of 5.6% during 2018–2025. The key factors boosting growth of the market are minimally invasive interventional procedure which is alternative to bypass surgery, innovations and technological advancement in stent technology and increasing patients’ disposable income and government insurance coverage in the emerging markets.
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Furthermore, increasing adoption of coronary stent in minimally invasive interventional surgery, growing incidence of cardiovascular diseases, rising technological advancement and spending on healthcare facilities across the globe have led to the burgeoning market growth of coronary stent.
Drug-eluting stent dominates the global coronary stent market. In 2017, more than one-third of the market share was held by the drug-eluting stent. However, the highest growth rate is expected to be witnessed by the bioresorbable stent over the aforementioned forecast period owing to growing adoption among healthcare professionals and patients due to its characteristics of high stability and biodegradable properties.
Technological advancements in biomaterial industry and increasing research & development activities are likely to drive the growth of these segments; thereby, boosting the coronary stent market growth during the forecast period. Bioresorbable stent and the third generation of DES with biodegradable polymer/polymer-free coatings are emerging stent technologies in the coronary stent market.
“Market leaders consistently indulge in research & development activities to keep leadership in the competitive coronary stent market. For example: Abbott introduced next generation of most widely used heart stent for people with coronary artery disease in Europe”
Based on geography, Asia-Pacific held the largest share in the market in 2017 on account of large patient pool, high volume of minimally invasive interventional procedure and growth in medical tourism. In addition, there has been a rise in incidences of coronary artery diseases and; hence, increased government and private funding on healthcare infrastructure.
• In 2017, the drug eluting stent captured more than one third of the market share
• Abbott, Boston Scientific, and Medtronic are the leading players holding approximately around one third of the market share
• Asia-Pacific held the largest share in the market in 2017
Some of the key players operating in the global market for coronary stents include Abbott Laboratories, Boston Scientific Corporation, B. Braun Melsungen AG, Terumo Corporation, Biosensors International Group, Ltd, Medtronic plc, MicroPort Scientific Corporation, Biotronik SE & Co. KG among others.
The global coronary stent market has been segmented on the basis of product type, material type, end user and key geographies. Based on product type, the coronary stent market comprises of dual therapy stent, bioresorbable stent, bio engineered stent, drug eluting stent and bare metal stent.
Based on material, the coronary stent market comprises of metallic stent, polymer stent and copolymer stent. The end user segment includes, hospital, cardiac centers and ambulatory surgical centers.
The research report on coronary stent market provides in-depth analysis of the global coronary stent market based on product type, material, end user and major geographies for the forecast period from 2018 to 2025. The report highlights the major market drivers propelling the growth as well as challenges faced by the market participants. The research report also provides market size and forecast for coronary stent market. The report also analyses the competitive landscape, major players and their strategies in 2018. The competitive landscape section of the report captures and highlights the recent developments in the market.
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