Press release
Coronary Stents Market Research Analysis On B. Braun Melsungen AG, Abbott, Biosensors International Group, Boston Scientific Corporation, Biotronik SE & Co. KG, Medtronic plc, Meril Life Sciences, MicroPort Scientific Corporation
Increasing demand for coronary stents will lead to business growth during the projected timeframe. High demand is attributable to increasing prevalence of cardiovascular diseases including coronary artery disease. According to American Heart Association, the annual cost of cardiovascular diseases by 2030 will exceed USD 1000 billion. Growing disease burden will positively impact demand for coronary stents, thereby driving industry growth during the forecast period.
Increasing geriatric population across the globe will drive coronary stent business growth in the future. According to World Health Organization (WHO), by 2050, more than 2.1 billion people will fall in the age group of 60 years and above. With increasing geriatric population, incidence rate of coronary artery disease will increase, thereby escalating demand for coronary stents and fostering market growth.
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Bioresorbable vascular scaffold segment will show fastest growth rate of 7.6% during the projected timeframe, owing to high adoption rate. Increasing adoption rate is attributable to various technological advances that enhance efficiency and safety of bioresorbable coronary stents. Large number of application of bioresorbable coronary stents coupled with consistent drug delivery is major factor for segmental growth in the future.
Cardiac centers segment accounted for largest market share of USD 3,821.7 million in 2017. Growth is attributed to increased number of individuals seeking treatment for coronary artery disease in cardiac centers. Growing patient pool coupled with introduction of cutting-edge equipment will render positive impact on business growth during the forecast timeframe.
U.S. coronary stent market accounted for USD 2,331.8 million in 2017, owing to increasing incidence of chronic diseases such as cardiovascular and neurovascular disorders. Increasing prevalence of chronic disease will increase adoption of advanced coronary stents for treatment of coronary artery disease. Favorable healthcare regulations and reimbursement policies coupled with adoption of technologically advanced coronary stents will promote business growth in the future.
China coronary stent market will witness robust growth at 9.2% during the projected timeframe. High growth rate is credited to high prevalence of cardiovascular disorders. According to China Cardiovascular Diseases (CVD) report, in 2015, more than 290 million people in China suffered from cardiac disorders including coronary artery disease. This will lead to high adoption rate of coronary stents, thereby favoring business growth throughout the forecast timeline.
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Prominent industries involved in Coronary Stent market are B. Braun Melsungen AG, Abbott, Biosensors International Group, Boston Scientific Corporation, Biotronik SE & Co. KG, Medtronic plc, Meril Life Sciences, MicroPort Scientific Corporation, Terumo Corporation, and Elixir Medical Corporation. These prominent business players are focusing on strategic mergers, acquisitions and new product launch to strengthen market position. For instance, in June 2018, MicroPort Scientific Corporation announced that its product Firehawk (a rapamycin target eluting coronary stent system) gained approval form Hong Kong Hospital Authority. This approval will enable firm to expand its geographical outreach for long-term growth in future, thereby strengthening its market presence.
Complete report for 2018-2024 on Coronary Stents market is now available at https://www.marketstudyreport.com/reports/coronary-stents-market
Related Report:
Global Coronary Stents Market 2018 by Manufacturers, Regions, Type and Application, Forecast to 2024
Global Coronary Stents Market research report is added by Market Study report by covering all major market aspects. The report also touches the key scenarios like top players, competition, types, applications, regions, recent developments and future market predictions.
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