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Cardiovascular Stents - Boston Scientific Corporation, Medtronic and Abbott, together hold a significant share in the global Market
Cardiovascular Stents Market Size, Share and Global Trend
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The report also offers insights into factor impacting growth across various segments of the global cardiovascular stent market. North America is forecast to continue leading the global cardiovascular stent market. The North America market for cardiovascular stent war valued at US$ 2,344.9 Mn in 2017. The growth witnessed in the region is attributable to the increasing clinical trial taking place on novel stents in the U.S. Moreover, Asia Pacific is witnessing impressive growth and is expected to progress at a relatively higher CAGR. Improvements in distribution channel and manufacturing of cardiovascular stent in nation such as India and Australia are anticipated to propel the demand in the global cardiovascular stent market. India, has put in extra efforts to make cardiovascular stents available across the country by using price capping strategy. This is likely to increase growth opportunities for the market in the region.
Introduction of Stent with Innovative Features to Drive Market
In terms of disease type, venous disease segment is expected to witness growth during the forecast period. In terms of end user, the hospital segment is anticipated to expand considerably, exhibiting the highest demand for cardiovascular stents during the forecast period. The growth is attributed to increasing patient pool and availability of qualified surgeons and doctors. The growth projected is expected to increase the demand in the global cardiovascular stent market.
Some of the key factors anticipated to drive the global cardiovascular stent market during the forecast period 2018-2025 are increasing incidence of cardiovascular diseases and high adoption of unhealthy lifestyle. Moreover, increasing obese population and introduction of new stents are likely to propel the demand in the global market.
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According to the report, market players are emphasizing on the development of environment-friendly and decomposable stents, in order to address most common concerns among and introduce major improvements in stents. Huge investments are made by key market players to conduct research and development to achieve the goal and develop stents with better features. These factors are likely to aid the expansion of the global cardiovascular stents market in the coming years.
On the flip side, side effects associated with implanting cardiovascular stent and the high cost involved in the treatment are factors that may hamper the growth in the global cardiovascular stent market during the forecast period.
Major Players are Likely to Diversify Product Portfolio to Establish Strong Foothold
Boston Scientific Corporation, Medtronic, and Abbott, together hold a significant share in the global cardiovascular stent market. These organizations boast a strong distribution network and diverse product portfolio, which are among the key factors aiding their expansion. Abbott, held major share in the India market due to the wide adoption of its products in the country. However, Abbott has withdrawn its product from the Indian market and this may negatively impact on Abbott’s market position. Biotronik SE & Co. KG, Cardinal Health, Cook, C. R. Bard, Inc., MicroPort Scientific Corporation, Terumo Corporation, and B. Braun Melsungen AG are some of the other players operating in the global cardiovascular stents market.
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