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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This
report analyzes and studies the major coronary stent market drivers,
restraints, opportunities, and challenges in North America, Europe,
Asia, and the Rest of the World (RoW). 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
bioresorbable vascular scaffold (BVS) and expansion in emerging markets
provide significant growth opportunities in the heart stent market.
However, alternative treatment methods for CAD, stringent regulations
for product approval, and numerous cases of product failure and product
recall may hinder the growth of this market during the forecast period.
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.
Based on type, the coronary stent
market is segmented into bare-metal stents, drug-eluting stents and
bioabsorbable 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 heart 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.
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The
coronary stent market is a highly fragmented market, with several big
and emerging players. Key market players 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).