Coronary Stent Market Soaring at 7.6% CAGR to Register USD 10.31 billion by 2021
The global coronary stent market is expected to reach USD 10.31 billion by 2021 from USD 7.16 billion in 2016, at a CAGR of 7.6% from2016 to 2021 while Asia is projected to be fastest-growing region in the coronary stent market during the forecast period.
Pune, India – March 10, 2017 /MarketersMedia/ —
Major factors contributing to the growth of the global coronary stent market include technological advancements, increasing number of percutaneous coronary intervention (PCI) procedures, rising burden of CAD, increasing demand for minimally invasive procedures, and rising geriatric population. Moreover, development of bioresorbable vascular scaffold (BVS) and expansion in emerging markets provide significant growth opportunities in the market provide significant growth opportunities in the market. However, alternative treatment methods for CAD, stringent regulations for product approval, and numerous cases of product failure and product recall may hinder the growth of this market during the forecast period.
Complete report on coronary stent market spread across 151 pages, profiling 12 companies and supported with 103 tables and 49 figures is now available at http://www.rnrmarketresearch.com/coronary-stent-market-by-type-bms-bvs-drug-eluting-mode-of-delivery-self-balloon-expandable-material-metal-stainless-steel-cocr-ptcr-nitinol-polymer-copolymer-end-user-hospital-cardiology-cent-ts-to-2021-market-report.html .
Various companies are focusing on technological advancements to improve the coronary stents offerings. Companies like Biosensors International Ltd., Abbott Laboratories, and Boston Scientific focused on developing biodegradable and bifurcated stents to deal with concerns about thrombosis caused by long-term device implantation. For instance, in May 2014, Boston Scientific (U.S.) launched the Promus PREMIER Everolimus-eluting Platinum Chromium Coronary Stent System in Japan. Currently, the coronary stents market is witnessing a new phase of technological developments, with the launch of fully dissolving stents. In July 2016, Abbott Laboratories (U.S.) received U.S. FDA approval to commercially launch its Absorb bioresorbable heart stent. Absorb is the only fully dissolving stent approved for the treatment of CAD.
The coronary stent market is fragmented with several global as well as local players. Players offer several products across different subsegments of this market. Key players in this market include Medtronic plc (Ireland), Abbott Laboratories (U.S.), Boston Scientific Corporation (U.S.), Biosensors International Group, Ltd. (Singapore), BIOTRONIK SE & Co. KG (Germany), B. Braun Melsungen AG (Germany), TERUMO CORPORATION (Japan), STENTYS SA (France), MicroPort Scientific Corporation (China), Meril Life Sciences Pvt. Ltd. (India), Vascular Concepts (India), and Translumina GmbH (Germany). Order a copy of Coronary Stent Market by Type (BMS, BVS, Drug Eluting), Mode of Delivery (Self, Balloon Expandable), Material (Metal (Stainless Steel, CoCr, PtCr, Nitinol), Polymer, Copolymer), & End User (Hospital, Cardiology Center, ASC) – Global Forecasts to 2021 research report at http://www.rnrmarketresearch.com/contacts/purchase?rname=915301 .
Asia is projected to be fastest-growing region in the coronary stent market during the forecast period. High growth in this region can be attributed to factors such as large population base, growing prevalence of cardiac diseases, rising adoption of advanced technologies, and low manufacturing costs in the region. Moreover, the growing focus of major players in this region is expected to boost the coronary stents market in Asia.
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