Coronary Stent Market Size study, by Verticals, by End-Users, by Type, By Leading Companies, by Services and by Regional Forecasts 2016-2023

Global Coronary Stent Market Overview

The stent helps in avoiding the heart attacks which is caused by the narrowing of the coronary arteries. The stent is a small tube made up of stainless steel or cobalt alloy, tube and is attached to small balloons which act as a support to reinstate blood flow and support the vessel wall. Methods for the treatment of coronary heart disease include pharmaceuticals, balloon angioplasty, stenting, and coronary artery bypass grafting. Stenting is considered as more comfortable for heart patients as compared to bypass heart surgery. Stenting does not involve any major operation as it can be performed with the help of local anesthesia and low sedation.

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Market Size & Forecast

The global coronary stent market was valued at USD 8.6 billion in 2015. Owing to the increased cardiovascular disorders across the globe, the global coronary stent market is anticipated to project a promising compound annual growth rate of 6% over the forecast period.

North America’s stent market is anticipated to dominate the global market in terms of the revenue share by the end of 2016; the market is estimated to project 30% of the global revenue share by 2016 owing to the large patient population and increasing demand for coronary stents in the region.

Asia-Pacific is expected to reach USD 3.9 billion by 2023, witnessing a strong compound annual growth rate of 7.9% over the forecast period owing to the increasing expenditure in the healthcare sector coupled with the increasing awareness of coronary stent treatment among the heart patients.

Drug-eluting stents product type segment is anticipated to reach USD 7.8 billion by 2023; these stents are more popular as compared to the other product type owing to its high mortality and low probability of complications.

Stents that are coated with medication commonly known as drug-eluting stents are widely used to avoid blockage in the arteries. Many key players in the market are making a huge investment to develop next-generation stents such as bioresorbable stents and drug-filled stents. In the year 2010, the global market for coronary stent was affected by rising issues of stent deformity and pricing pressure. Later the technological innovation in coronary stent has boosted the growth of the market across the globe.

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Key Players

Terumo Corporation
Boston Scientific Corporation
Medtronic
Vascular Concepts
B. Braun Melsungen AG
Biotronik SE & Co
Abbott Laboratories
Biosensors International Group, Ltd.
Hexacath
Stentys SA
and other notable key players.

Key Answers Captured in Report?

  • Which geography would have better demand for products/services?
  • What are the strategies adopted by big players in the regional market?
  • Which country would see the steep rise in CAGR & year-on-year (Y-O-Y) growth?
  • What is the current & expected market size in the next five years?
  • What is the market feasibility for long term investment?
  • What opportunity the country would offer for existing and new players in the market?
  • What is the risk involved for suppliers in the geography?
  • What factors would drive the demand for the product/service in the near future?
  • What is the impact analysis of various factors in market growth?

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Growth Drivers and Challenges

Increasing the aging population, rise in hypertension increased consumption of alcohol along with the rising obese population are the factors that resulted in the rising prevalence of coronary heart diseases, this will further fuel the demand for stents in the global market. Improved medical facilities coupled with the increasing healthcare expenditure have led the key players to make a huge investment in the stent market in order to develop more efficient products.

Various awareness campaigns conducted by government bodies, reform in the government policies along the increasing healthcare expenditure in the developing countries such as India and China are expected to boost the growth of the global coronary stent market over the forecast period.

Stenting has largely replaced the conventional balloon angioplasty as a preferred mode of percutaneous coronary intervention owing to the introduction of advanced drug-eluting stents. Approximately 75% of the coronary interventions are carried out by the use of drug-eluting stents and this percentage is anticipated to increase over the forecast period.

Challenge to be faced ahead by the global coronary market is pricing pressure, regulatory issues, and complications associated with the implantation of stents.

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