According to the research report the coronary stent 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. The report analyzes and studies the major market drivers, restraints, opportunities, and challenges in North America, Europe, Asia, and the Rest of the World (RoW).
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The growth of this market is mainly driven by factors such as technological advancements, increasing number of percutaneous coronary intervention (PCI) procedures, rising burden of CAD, increasing demand for minimally invasive procedures, and rising geriatric population. Moreover, development of bio resorbable vascular scaffold (BVS) and expansion in emerging markets provide significant growth opportunities in the market.
The report segments the coronary stent market based on type, mode of delivery, material, end user, and region.
•
Based on type, the market is segmented into bare-metal stents,
drug-eluting stents and bio absorbable 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.
• 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 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.
Factors such as large population base, growing prevalence of cardiac
diseases, rising adoption of advanced technologies, and low
manufacturing costs in the region are expected to drive market growth in
Asia. Moreover, the growing focus of major players in this region is
expected to boost the coronary stents market in Asia.
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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.
