Global Coronary Stents Market to Gain Significantly from Increasing Popularity of Bioabsorbable Stents
Coronary stents are witnessing an immense surge in demand. The hectic and unhealthy lifestyle is increasing the incidence of coronary artery diseases around the world over the last few years. The rising prevalence of obesity and increasing base of the geriatric population are adding significantly to the severity of this issue.
Percutaneous coronary intervention (PCI), commonly known as angioplasty, is the most effective treatment for coronary artery diseases. In this procedure, coronary stents are placed in arteries to keep it open. The number of these procedures are increasing continuously in the global arena, and so is the demand for these stents.
According to a report published by Transparency Market Research (TMR), the global coronary stents market stood at US$6 bn in 2013. Analysts anticipate this market to expand at a CAGR from 6.60% during the period from 2013 to 2019 and reach an estimated value of US$8.2 bn by the end of 2019.
North America Holds Leading Position in Global Coronary Stents Market
North America leads the global market for coronary stents in terms of revenue. The presence of a large pool of market players in the U.S. is the key factor responsible for the dominance of this regional market. These participants introduce their products at first in the U.S., providing the North America coronary stents market an early-bird advantage, adding substantially to the growth of this market.
Europe, followed by Asia Pacific, has occupied the second position in the global market. Over the next few years, the Asia Pacific market for coronary stents is likely to report the fastest growth among all the regional markets. The growing prevalence of coronary artery diseases, untapped markets in emerging economies, and the rise in awareness as well as the spending power of people in this region are some of the major factors that are projected to drive this regional market in the forthcoming years.
Bioabsorbable Stents to Present Most Lucrative Market to Participants
Drug-eluting stents (DES), bioabsorbable stents, and bare metal stents are the major types of coronary stents available across the world. Among these, DES enjoys the highest demand at present. However, bioabsorbable stents are likely to present the most lucrative market to participants in the coming years. The efficiency, these stents exhibit while restoring the blood flow is adding considerably to their increasing popularity. The faster healing process and quick absorption of the implant are also fueling the demand for bioabsorbable stents across the world.
Browse Research Release:
Terumo Corp., STENTYS SA, MicroPort Scientific Corp., Medtronic Inc., Johnson & Johnson, Cook Medical Inc., C. R. Bard Inc., Boston Scientific Corp., Biotronik SE & Co. KG, B. Braun Melsungen AG, AMG International GmbH, and Abbott Laboratories Inc. are the major manufacturers of coronary stents in the global market.