The Global Stents Market is expected to witness healthy growth owing to the rising prevalence of coronary heart and cardiovascular diseases. Key market insights have been shared by Fortune Business Insights in its report, titled “Stents Market Size, Share and Global Trend By Type (Coronary Stent, Vascular Stents, Ureteral Stent, Esophageal Stent), By Product (Dual Therapy Stents, Bioresorbable Vascular Scaffolds, Bio-engineered Stents), By Material (Non-degradable, Degradable), By Design (Coil, Helical spiral), By End User (Hospitals, Specialty Clinics), and Geography Forecast till 2026”. The report puts forth a comprehensive market analysis and provides key information about the major factors that will influence the market.
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“Some of the Main Key Players Covered in the Report”
- Boston Scientific
- Cardinal Health
- Elixir Medical Corporation
- Terumo Corporation
- Biosensors International Group, Ltd
- Meril Life Sciences Pvt. Ltd.
“Multiple Benefits to Encourage Adoption”
The global stents market is expected to surge as rising awareness about the numerous benefits of stenting will boost adoption rates. For example, stenting can reduce conditions associated with heart diseases such as chest pain and fatigue. Furthermore, stenting even improves the functioning of kidneys. Thus, the procedure has been known to significantly improve the lives of patients, which augurs well for the global market.
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“High Cost of Stents May Hinder Market Growth”
According to a 2018 study published in Health Affairs, coronary stents cost 6 times more in the US than in Europe. Thus, high cost of treatment is expected to have a negative impact on the global stents market as a large section of population may not be able to afford the treatment.
Moreover, there are a few risks involved in stenting. For example, after the procedure is completed and the stent has been placed, scar tissue may form within the stent which would require another surgery. A person may also have an allergic reaction to the stent, which can again require medical attention. These factors may hamper the growth of the global market.
“North America to Occupy a Leading Market Position”
Among the regions, North America is expected to hold a dominant position and share in the global stents market during the forecast period. This owing to the increasing number of heart disease patients and presence of important market players that are investing in research and developing innovative products. Asia-Pacific is also expected to contribute significantly to the global stents market expansion on account of the growing incidence of heart diseases and the development of affordable stent treatments, especially in India.
“Increasing Research and Innovation to Drive Competition”
Competition in the global stents market is expected to intensify as market players look to gain a competitive edge through increased investment in research and launching of innovative products. For example, in 2017, the US-based Elixir Medical Corporation released Desolve Absorbable Stent, along with Dynamix metallic drug-eluting stent, to further its innovations in adaptive remodeling.
Some of the key players in the global stents market, as identified by Fortune Business Insights, include Boston Scientific Corporation, Terumo Corporation, Cardinal Health, Abbott, BD, Biosensors International Group, and a few others.
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