Key Factors Shaping the Coronary Stents Market
Increasing prevalence of coronary artery diseases (CAD)
Increasing prevalence of coronary artery disease is fuelling the demand for interventional cardiology treatment. Patients suffering from long-term CAD are opting for angioplasty as first line of treatment.
According to National Centre for Health Statistics, every year 1 in 4 deaths in the U.S. are caused due to coronary artery diseases (CAD) and approximately 785,000 people in the U.S. suffer from their first heart attack and 470,000 suffer from myocardial infraction. This due to changing lifestyle habits, smoking, pollution and other factors. This increasing prevalence of coronary artery diseases and higher healthcare expenditure in lower middle income countries is projected to boost growth of the global coronary stents market over the forecast period.
Increasing Prevalence of Obesity
Increasing global ageing population is resulting in an increasing patients pool with major cardiovascular diseases. Also, hypertension is emerging as a major public health concern. Aged individuals are more prone to various cardiovascular diseases due to high total serum cholesterol level.
Also, obesity is one of the major risk factors responsible for various cardiovascular diseases worldwide. Excessive weight or obesity causes abnormal or excessive accumulation of fats inside the artery lumen that causes several health problems such as coronary heart diseases. Hence, weight loss and obesity management is an integral parameter to avoid any kind of cardiovascular disease.
According to WHO estimates, each year, 2.8 million deaths across the globe are due to diseases caused by obesity. Thus, increasing ageing and obese population are major factors expected to fuel growth of the global coronary stents market over the forecast period.
Increasing Number of Stenting Procedures
Added advantages of stenting procedures include substantial improvement of blood flow and prevention of further damage to the heart muscle. It also helps in improving the symptoms of heart disease, such as angina and shortness of breath thereby, reducing need for coronary bypass surgery. Thus, surgeons prefer stenting, as it is a minimally invasive procedure and post-operative recovery is relatively fast.
Patients suffering from coronary artery blockage are prescribed coronary stenting. Angioplasty is the first line of treatment for patients suffering from acute coronary artery blockages. Number of patients undergoing stenting has been increasing steadily over the last decade. This is due to emergence of outpatient coronary stenting procedure, which reduces long hospital stays. Further, usage of bioabsorbable coronary scaffolds in coronary blockage has proven more benificial over drug eluting stents.
Therefore, increasing number of cardiologists referring stenting procedures for patients suffering from CAD is a major factor expected to fuel revenue growth of coronary stents market in the near future.
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Coronary Stents Market Structure Analysis
- Tier I companies in the coronary stents market include Abbot Vascular, Medtronic Inc., Terumo Corporation, Boston Scientific and few other key players.
- Companies in implantable cardiovascular devices market in U.S. are actively involved in mergers and acquisitions. The implantable cardiovascular device manufacturers have started taking the strategic decisions to engage in mergers and acquisitions to strengthen their product portfolio and increase their brand share in the market.
FAQ ABOUT THE MARKET CORONARY STENTS MARKET
How the market is expected to grow in forecast period?
The market is expected to grow at a moderately high CAGR of 7% during the forecast period.
Which product is expected to impacting growth of the market?
Drug eluting stent segment is expected to create a lucrative growth opportunity for the growth of the coronary stent market owing to the rising number of infections globally
Which key countries offer lucrative growth opportunities?
APEJ is expected to lead the growth of the coronary stent market owing to the large patient pool in the region.
Which companies dominating the market?
Companies like Boston Scientific Inc., Medtronic, Terumo Corporation are the one that dominate the market.
By Raw Material
- Cobalt Chromium
- Stainless Steel
- Platinum – Chromium
- Nickel – Titanium
By End User
- Ambulatory Surgical Centers
- Cardiac Catheterization Laboratories
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan
- Middle East and Africa (MEA)
- Drug Eluting Stent (DES)
- Bare Metal Stent (BMS)
- Bioresorbable Vascular Stent (BVS)