The global coronary stents market potential has widened due to recent technological advancements. According to a report published by Fortune Business Insights, titled “Coronary Stents Market Size, Share and Global Trend by Deployment (Self and Balloon-expandable), Stent Type (Drug Eluting Stent, Bioresorbable Stent, Bare Metal Stent, Covered Stent and Others), End User (Hospitals, Ambulatory Surgical Centers, Specialty Clinics, Catheterization Labs) and Geography Forecast till 2025,” the market was valued at US$ 5,244.9 Mn in 2017.
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According to Fortune Business Insights, the market will reach US$ 8,414.5 Mn by the end of 2025, exhibiting a CAGR of 6.1%
Coronary stents possess the ability to enhance severe surgical procedures such as percutaneous coronary intervention (PCI) or angioplasty. The use of coronary stents in regulating the blood supply to the heart has created a huge emphasis on the manufacture of highly efficient products. Coronary stents are inserted into the human arteries to ensure smooth blood supply to the heart. As coronary stents are mostly made up of medical-grade stainless steel, the margin for error is almost zero or minimum.
Coronary stents allow minimally invasive surgical procedures, thereby leading to a huge uptake among end users, globally. Surgical procedures using coronary stents are carried out in a much shorter time and with less discomfort than the procedures such as coronary bypass surgeries. The aforementioned factors will contribute to the growth of the global market and will enable the increase in the global coronary stents market value in the forthcoming years.
Some of the Main Key Players Covered in the Report:
- Biotronik SE & Co. KG
- Cardinal Health
- R. Bard, Inc.
- MicroPort Scientific Corporation
- Terumo Corporation
- Braun Melsungen AG
- Boston Scientific Corporation
Technological Advancements in Products to Enable Coronary Stents Market Growth
Recent product advancements have created a rising uptake of coronary stents in heart-related surgical procedures. In 2018, Medtronic launched a new 2 mm coronary stent for small vessels. The company also announced that it has received approval from the Food and Drug Administration (FDA) or the usage of its latest product. The Resolute Onyx 2.0 was a new drug eluting stent which was introduced as the smallest stent available in the market at the time of its launch. Fortune Business Insights predicts that increasing the introduction of technologically advanced products will favor the growth of the global coronary stents market in the coming years.
Growing Regulatory Approvals Will Lead to Substantial Coronary Stents Market Growth
The high prevalence of coronary arterial diseases has opened up a huge coronary stents market potential. Resulting from the high demand for coronary stents, several companies have shifted their focus on developing technologically advanced stents with the aim of serving a wider audience. The coronary stents market trends such as incorporation of micro-sized stents and use of minimally invasive procedures have contributed to the market growth.
In recent years, regulatory authorities have eased off on their reluctance to approve coronary stents market products. Abbott’s CE approval for Xience Sierra was a game changer in the coronary stents industry as the device received worldwide allocates for its exceptional functional operations. Fortune Business Insights predicts that with Xience, Abbott will account for substantial coronary stents market growth and will encourage other companies operating in the market.
Besides Abbott, some of the key players that have contributed to the increase in the coronary stents market size are Medtronic, Terumo Corporation, C. R. Bard, Inc., Cardinal Health, Boston Scientific Corporation, B. Braun Melsungen AG, MicroPort Scientific Corporation, Cook, and Biotronik SE & Co. KG.
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