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.
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.
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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).
• 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.
• 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.
•On the basis of material, the coronary stent market is segmented into metallic stents (cobalt chromium, platinum chromium, nickel titanium, and stainless steel), and other stents.
Prominent players in the coronary stent 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).
Abbott Laboratories (U.S.) is one of the key players in the coronary stents market. With robust product portfolio and large geographic presence, the company has managed to create its identity in the coronary stents market.
Medtronic plc (Ireland) is one of the leading players in the coronary stent market. The company’s leading position can be attributed to its product portfolio and its brand identity in the coronary stents market.
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Companies are focusing on adopting organic and inorganic growth strategies to synergistically develop advanced products in the market. These strategies help market players to strengthen their product offerings, cater to the unmet needs of customers, increase their profitability, and expand their presence in the global market.