Coronary Stent Market Size, Share & Trend Report

Coronary Stent Market Size, Share & Trend Analysis Report by Product (Bare Metal Stents, Drug Eluting Stents, Bioresorbable Vascular Scaffold), And Segment Forecasts, 2018 - 2024

  • Published Date: Mar, 2018
  • Base Year for Estimate: 2015
  • Report ID: GVR-1-68038-106-1
  • Format: Electronic (PDF)
  • Historical Data: 2013 - 2015
  • Number of Pages: 82

Industry Insights

The global coronary stents market size was estimated at USD 9.3 billion in 2016. Increasing burden of cardiovascular diseases including coronary artery diseases are anticipated to boost the usage of coronary stents.

Increasing geriatric population is considered as a high impact rendering driver for this market. The latest treatments available in cardiac care are expected to increase the life span of the elderly population subset. Thus, with increasing geriatric population the demand for coronary stents is expected to rise over the forecast period.

U.S. coronary stents market

Favorable reimbursement policies lead to higher adoption rates amongst patients in the countries, such as the U.S., Canada, and UK, enabling further market penetration of these devices. This trend is also witnessed in the developing regions of Asia Pacific. For instance, Japan’s National Health Insurance system provides reimbursement for all medical devices.

Technological advancements in coronary stents is also anticipated to boost the market growth. These advancements are improving accuracy, providing additional capabilities to enhance the workflow, and facilitating error reduction.The emergence of newer trends, such as bioresorbable stents, scaffolds, biodegradable polymer, and bifurcation stent with an adoption of newer techniques and minimally invasive procedures are trending in this industry.

One of the major reasons attributed to increasing cardiovascular conditions is changing life style. Changing lifestyles habits such as smoking, physical inactivity, and unhealthy diet is hampering the health of the heart. These factors are leading to a possibility of hypertension, obesity, and blockages in arteries. As per CDC more than one-third population in the U.S. is obese. This all is causing vascular disorders and thus boosting the demand for these products.

Product Insights

The coronary stents market based on products is segmented into Bare Metal Stents (BMS), Drug Eluting Stents (DES), and Bioresorbable Vascular Scaffold (BVS). DES consisting biodegradable and non-biodegradable DES led the product segment.

Global coronary stents market

The chemical and gas injection techniques are gaining share significantly. These two recovery technologies together held around 49% of the total revenues share in 2016. These technologies have a higher recovery rate and are cost-efficient.

The BVS products are anticipated to grow exponential over the forecast period. New product approvals of Magmaris and Magnitude are expected to increase the demand for BVS products. These products are used mostly in the cases of young patient population. The advantages of BVS over DES are still unclear, as these products are still in post approval clinical trial phase.

Regional Insights

In terms of region, North America was leading in 2016 and is anticipated to show the same trend over the foreseeable future. North America is the industry leader owing to the reimbursement facilities, rising disease prevalence, and presence of large number of companies which aid in product availability. .

For instance, as per Centers for Disease Control and Prevention (CDC), a total of 395,000 Coronary artery bypass graft procedures were performed in the U.S. in 2015. The market is driven by growing geriatric population and growth in a sedentary lifestyle. Development of innovative and improved bio-engineered absorbable products is also key factor responsible for industry growth.

Increasing geriatric population, changing life style and increasing medical tourism in Asia Pacific is expected to drive the market. The favorable government initiatives in economies such as China and India, regarding the pricing of medical devices are expected to drive growth in the near future. Additionally, there is increasing per capita healthcare expenditure in this region, which is anticipated to drive growth in the market.

Coronary Stents Market Share Insights

The global market is highly competitive with the top market players accounting for similar revenue shares. Companies have adopted strategies including mergers & acquisitions and strategic alliances to gain a competitive advantage. Additionally, companies are more focused on the development of technologically advanced products, which deliver      greater accuracy and efficiency

The players in the market include Abbott, Boston Scientific Corporation, Medtronic, B. Braun Melsungen AG, Terumo Corporation, Biotronik SE & Co. KG, Stentys SA, MicroPort Scientific Corporation, C. R. Bard, Inc. and Cook Group. New product launches, collaboration, mergers & acquisitions, and regional expansion are the key strategic initiatives undertaken by these industry players.

Report Scope

Attribute

Details

Base year for estimation

2015

Actual estimates/Historical data

2013 - 2015

Forecast period

2016 - 2024

Market representation

Revenue in USD Million & CAGR from 2016 to 2024

Regional scope

North America, Europe, Asia Pacific, Latin America, MEA

Report coverage          

Revenue forecast, company share, competitive landscape, growth factors and trends

Country Scope

U.S., Canada, UK, Germany, Japan, China, Brazil, Mexico, Saudi Arabia

15% free customization scope (equivalent to 5 analyst working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization


Segments covered in the report

This report forecasts revenue growth at global, regional & country levels and provides an analysis of the industry trends in each of the sub-segments from 2013 to 2024. For the purpose of this study, Grand View Research has segmented the global coronary stents market report on the basis of product and region:

  • Product Outlook (Revenue, USD Million; 2013 - 2024)

    • Bare Metal Stents

    • Drug Eluting Stents

    • Bioresorbable Vascular Scaffolds

  • Regional Outlook (Revenue, USD Million; 2013 - 2024)

    • North America

    • Europe

    • Asia Pacific

    • Latin America

    • Middle East & Africa

Key questions answered by the report
Request for Customization

Choose License Type

Single User - $4,450
Multi User (2-5) - $6,450
BI Library Access - $8,450

Buy Chapters or Sections

Avail customized purchase options to meet your exact research needs:

  • Buy sections of this report
  • Buy country level reports
  • Request for historical data
  • Request discounts available for Start-Ups & Universities

Why Choose Us

  • Research support

    24/5 Research support

    Get your queries resolved from an industry expert.

  • Custom research service

    Custom research service

    Design an exclusive study to serve your research needs.

  • Quality assurance

    Quality assurance

    A testimonial for service in the form of BBB "A" Accreditation.

  • BBB Rating dandb
  • Information security

    Information security

    Your personal and confidential information is safe and secure.

  • grand view research PCI DSS complaint grand view research paypal verified