Cardiovascular disease (CVDs) is one of the most common causes of death worldwide. According to World Health Organization (WHO) statistics, approximately 17.5 million deaths are reported each year due to CVDs, representing a total of 31% of global death statistics. Of these, 7.4 million deaths are due to coronary heart disease and 6.7 million deaths are due to stroke. Coronary artery disease (CAD) is one of the most common heart diseases, accounting for approximately 45.1% of all deaths in the United States. This condition occurs when the coronary arteries become narrow due to the formation of plaque, thereby hardening and reducing their flexibility. Lifestyle variations, such as healthy eating, workout regimen, and quitting smoking, help to reduce CAD risk.
Improvements to the coronary stents have increased the likelihood of patients undergoing cardiovascular surgery. The goal of recent advances in the industry is to reduce the sensitivity of drugs in the drug-eluting stents and to reduce the risk associated with surgery. For example, in 2017, Medtronic Japan Co. Ltd., a subsidiary of Medtronic PLC, launches Resolute Onyx Stent System. The design of the stent allows better penetration of the arterial walls with ease.
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Factors such as increasing the prevalence of cardiovascular disease, increasing the aging population, and the growing acceptance of minimally invasive endovascular surgery, are driving market growth. However, strict government regulations, high costs associated with stent implants, and the availability of alternative treatment procedures hinder the growth of the market. The markets in India, Brazil, China, and Russia are also expected to grow at a rapid pace during the forecast period due to the high prevalence of cardiovascular diseases.
March Analysis:
The global coronary stents market is estimated to see a CAGR of 15.03% during the forecast period 2017–2023. The coronary stents market is analyzed based on two segments – stent types and regions.
Regional Analysis:
The regions covered in the report are North America, Europe, Asia Pacific, and Rest of the World (ROW). The availability of technologically advanced products has made North America the market leader, followed by Europe. More than 75% of CVD deaths are recorded in low-income and middle-income countries. So market growth in APAC and ROW is expected to grow at a high rate. At present, many manufacturers are concentrating on launching advanced products in these regions to take advantage of the opportunity.
Stents Types Analysis:
The coronary stent market is segmented into blue metal stents, drug-eluting stents, and bio-absorbable stents. Approximately 90% of all percutaneous coronary intervention (PCI) surgeries use a coronary stent. Thus, drug-eluting stents hold the bulk of the market. The highest growth rate is expected in bioresorbable stents due to the advantages of the polylactic acid material. Companies such as Abbott and Boston focus on developing biodegradable stents to provide effective products and maintain their market leadership. The market is also witnessing various mergers, acquisitions, and collaborations between the top players, which defines the future of the Global Coronary Stents market.
Key players:
Abbott Laboratories, Boston Scientific Corporation, Medtronic PLC, B. Braun Melsungen AG, Terumo Corporation, Biotronik SE & Co. KG, Stentys SA, MicroPort Scientific Corporation, and Meril Life Science, and other predominant niche players.
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Competitive Analysis:
The departure of Johnson and Johnson from the Coronary Stent Market has provided opportunities for many players to strengthen their market share. Abbott Laboratories, Medtronic, and Boston Scientific Corporation were the market leaders in the global Coronary Stents market as of 2016. The top three market players are estimated to hold more than 60% market share in 2016. Leader, while Boston Scientific Corporation dominates the market in Brazil and other emerging Latin American countries.
Advantages:
The report provides complete details on the use and adoption rate of coronary stents in various therapeutic verticals and regions. So key players can know about the big trends, drivers, investments, vertical player initiatives and government initiatives. In addition, the report provides details on the major challenges affecting market growth. In addition, the report gives complete details about the business opportunities to key players and helps them expand their business and capture and analyze the revenue in the specific verticals before investing or expanding the business in this market.
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