Coronary Stents Market worth $13.87 Billion by 2025 – Exclusive Report by The Insight Partners
Global coronary stents market is growing at a CAGR of 7.8% from 2016 to 2025.
Pune, India, Sept. 13, 2023 (GLOBE NEWSWIRE) — Coronary stents are a kind of little mesh metal tubes that are developed for providing support to the weakened arteries within the heart. The coronary stents market growth is attributed to some key driving factors such as increase in coronary heart diseases, rising prevalence of coronary artery diseases, technological advancements, and rising geriatric population. The market is anticipated to witness significant growth over 2016 to 2025.
Coronary Stents Market in terms of revenue was estimated to be worth $7.22 billion in 2016 and is poised to reach $13.87 billion by 2025, growing at a CAGR of 7.8% from 2016 to 2025 according to a new report published by The Insight Partners.
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Browse Comprehensive TOC on “Coronary Stents Market to 2025 – Global Analysis and Forecasts by Type (Bioabsorbable Stents, Bare-Metal Stents, and Drug-Eluting Stents), Absorption Rate (Slow-Absorption Rate Stents and Fast-Absorption Rate Stents), Material (Nitinol, Polymer, Gold, Tantalum, Stainless Steel, and Cobalt Alloy Metal), and End User (Ambulatory Surgical Centers, Hospitals, and Cardiac Centers)”
List of Tables – 97
List of Figures – 81
No. of Pages – 173
Global Coronary Stents Market Scope:
|Market Size Value in||USD 7.22 Billion in 2016|
|Market Size Value by||USD 13.87 Billion by 2025|
|Growth rate||CAGR of 7.8% from 2016 to 2025|
|Segments covered||Type, Absorption Rate, Material, and End User|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America.|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends|
Technological Advancements in Coronary Stents
Advancement in the field of molecular biology has equally enhanced the coronary stents. Many industry players have come up with innovative types of coronary stents in last few years. For instance, in August 2022, Medtronic launched its newest drug-eluting coronary stent, the Onyx Frontier drug-eluting stent (DES), following recent CE Mark approval. The Onyx Frontier DES offers an innovative delivery system and builds upon the acute performance and clinical data from the Resolute Onyx drug-eluting stent. The DES leverages the same best-in-class stent platform as Resolute Onyx DES, with an enhanced delivery system designed to improve deliverability and increase acute performance in the most challenging cases. In September 2022, Medtronic secured an FDA approval for the use of a new technique in placing its drug-eluting stents, to help treat the build-up of plaques that may clog the junction between two arteries feeding the heart. In June 2021, Abbott has received U.S. Food and Drug Administration (FDA) approval for XIENCE family of stents for one-month (as short as 28 days) DAPT labeling for high bleeding risk (HBR) patients in the U.S. In addition, XIENCE stents recently received CE Mark approval for DAPT as short as 28 days – giving XIENCE stents the shortest DAPT indication in the world. Advancement in coronary stents and its approval has made the treatment of CVD easy and accurate. These technological advancements are likely to propel the coronary stents market growth in near future.
Global Coronary Stents Market: Segmental Overview
The global coronary stents market, based on type, is segmented into drug eluting stents, bare metal stents, and bioabsorbable. The drug eluting stents segment has the major market share and poised to grow with the largest market share of 15.1% from 2016-2025. The segment is growing due to the interventional cardiologists to treat patients with small vessels often untreatable with larger stent technologies. Owing to these factors, the market for drug-eluting stents is anticipated to surge during the forecast period from 2016 to 2025, at a significant rate. Based on material, the coronary stents market is segmented into cobalt, platinum, nickel, stainless steel, nitinol, tanalum, polymer, and gold. The market is dominated by cobalt segment and expected to grow at the CAGR of 8.6% in the forecast period. The cobalt material is growing due to the nature of being stronger, denser and more radiopaque than stainless steel stents. Based on absorption rate, the coronary stents market is segmented into slow absorption rate and fast absorption rate. The market is dominated by slow absorption rate segment and expected to have a CAGR of 9.3% in the forecast period. The slow-absorption rate stents are the most preferred by physicians and patients owing to the slow rate of drug elution by the stent, which in turn, decreases the risk of blockage over the time period. Based on end user, the coronary stents market is segmented into hospitals, cardiac centers, and ambulatory centers. The market is dominated by hospitals segment and is expected to show a prime CAGR of 8.0% owing to the technological advancements used for the treatment of angioplasty that depends on the therapeutic approaches.
Global Coronary Stents Market: Competitive Landscape
Abbott Laboratories, Medtronic PLC., and Boston Scientific Corporation, Teromo Corporation, B. Braun Melsungen AG, Biosensors International Group, Ltd., B. Braun Melsungen AG, Vascular Concepts Limited, and Microport Scientific Corporation among others are a few of the key companies operating in the coronary stents market. The market leaders focus on new product launches, expansion and diversification, and acquisition strategies, which allow them to access prevailing business opportunities.
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Global Coronary Stents Market – Key Industry Dynamics:
- Rising Prevalence of Coronary Artery Diseases
- Technological Advancements
- Rising Geriatric Population
- Stringent regulations for approval
- Declining Prices of Coronary Stents
- Advanced Coronary Stents
In May 2022, Medtronic plc received U.S. Food and Drug Administration (FDA) approval for the Onyx Frontier drug-eluting stent (DES). As the latest evolution in the Resolute DES family, Onyx Frontier DES leverages the same best-in-class stent platform as Resolute Onyx DES, with an enhanced delivery system designed to improve deliverability and increase acute performance in even the most challenging of cases.
In June 2022, Abbott has received U.S. Food and Drug Administration (FDA) approval of its XIENCE family of stents for one-month (as short as 28 days) DAPT labeling for high bleeding risk (HBR) patients in the U.S. In addition, XIENCE stents recently received CE Mark approval for DAPT as short as 28 days – giving XIENCE stents the shortest DAPT indication in the world.
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