Coronary Stents Market 2021 By Regional Trend & Growth Forecast To 2027
Category: #business  By Ronak Bora  Date: 2021-03-25
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Coronary Stents Market 2021 By Regional Trend & Growth Forecast To 2027

Coronary Stents Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

The coronary stents market is expected to record lucrative growth in view of rising advancements in healthcare technology. Prevalence of chronic diseases such as cardiac diseases and cancer among population on a large could stir the demand for coronary stents in the coming years.

Coronary stents like bioresorbable vascular scaffold (BVS) are used to reduce complications such as thrombosis and inflammation, restore normal vasomotion and improve abnormal endothelial function. Growing demand for less invasive products and the advantages related to BVS could expand the demand for the coronary stents over time.

As per a report published by Global Market Insights, Inc., the bioresorbable vascular scaffold segment accounted for USD 416 million of the overall market revenue share. While the global coronary stents market size is projected to surpass USD 8.7 billion by 2027, recording a growth rate of 3.9% during the analysis period.

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1)         Drug eluting stents gaining grip

Since the introduction of paclitaxel-eluting stents, drug eluting stents technology has evolved enormously. Currently, research is being carried out to develop new coatings to promote growth of endothelial cells. Benefits of drug eluting stents such as its ability to reduce restenosis may increase its demand, driving coronary stent market growth. 

2)         Emerging players in the coronary stents niche

Notable companies operating in the coronary stents market include Medtronic, Abbott, B Braun, Terumo, and Boston Scientific Corporation among others. Industry players are emphasizing on taking strategic initiatives like novel product launches, product expansion, and mergers to strengthen their market presence. For instance, in July 2019, Terumo Corporation launched MISAGO Self-expanding Peripheral Stent for use in iliac arteries in Japan. This launch has strengthened the company’s geographical presence.

3)         Expansion of cardiac centers

Rising focus on improving life expectancy of patients, lowering the prevalence of diseases like a coronary artery, as well as cost of post-cardiac surgeries may have a considerable impact on the demand for coronary stents across cardiac centers. Availability of advanced treatment options and enhanced technology along with the outreach of specialized cardiac centers to a vast patient pool have enhanced product penetration. Estimates suggest that the cardiac centers application segment is expected to show a lucrative growth of 4.6% between 2021 to 2027.

4)         High disease prevalence across APAC

The Asia Pacific coronary stents market is expected to grow at a significant pace during the forecast timeframe and accounted for a market share of over 50% in 2020. This growth can be ascribed to increasing prevalence of chronic diseases such as cancer and cardiac diseases in the region. Many regulations as stated by governments such as price capping in India to support the adoption of stents made by local manufacturers. 

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Partial Chapter of the Table of Content 

Chapter 2.  Executive Summary

2.1. Coronary stents industry 360° synopsis, 2016 - 2027

2.1.1.  Business trends

2.1.2.  Product trends

2.1.3.  End-use trends

2.1.4.  Regional trends

Chapter 3.  Coronary stents Industry Insights

3.1. Industry segmentation

3.2. Industry landscape, 2016 - 2027

3.3. Industry impact forces

3.3.1.  Growth drivers Rising burden of coronary artery disease    Increasing demand for minimally invasive procedures    Technological advancement in developing economies    Growing geriatric population

3.3.2.  Industry pitfalls & challenges Product failure and recall    Stringent regulatory approvals    Dearth of skilled healthcare professional in developing economies

3.4. Growth potential analysis

3.4.1.  By product

3.4.2.  By end-use

3.5. COVID-19 impact analysis

3.6. Regulatory landscape

3.7. Technology landscape

3.8. Porter's analysis

3.9. Competitive landscape, 2019

3.9.1.    Company matrix analysis

3.10.    PESTEL analysis


About Author

Ronak Bora    

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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