Coronary Stents Market Regional Outlook - Asia Pacific to be the Fastest Growing Market: Boston Scientific Corporation, Abbott, Medtronic plc, B. Braun Melsungen AG, Stentsy SA, Terumo Interventional Systems

In terms of region, the coronary stents market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa by Coherent Market Insights. Europe holds dominant position in the coronary stents market, owing to presence of large obese population with high risk of coronary blockage in the region.

According to European Heart Network’s European Cardiovascular Disease Statistics 2017, in 2015, new cases registered with cardiovascular disease in Europe was around 11.3 million with nearly 6.1 million new cases of cardiovascular disease in the European Union. The number is further expected to increase with increase in the rate of obese population.

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However, Asia Pacific coronary stents market is expected to witness significant growth due to lower surgical cost in emerging countries such as India and China, which is attracting medical tourist. For instance, countries like Thailand and Malaysia is the most preferred destination for medical tourist, owing to its competitively affordable medical services. According to Malaysia Healthcare Travel Council, the country is expected to host medical facilities for more than one million medical tourist, accounting for revenues of US$ 310.4 million for 2017.

Moreover, increasing expansion of regional key players in the other regions is also expected to influence the regional market growth. For instance, in April 2018, Terumo Corporation, Tokyo-based medical device company, received CE mark for Ultimaster TANSEI drug-eluting stent, which was launched in the European market in May 2018. Furthermore, the company also aims to expand in Middle East, Latin America, and Asia in the near future.

Increasing research initiatives by local manufacturers to enhance their regional coronary stents market share is boosting the coronary stents market growth. For instance, Qvanteq, a Switzerland-based company, is engaged in developing Qstents, a coronary stent system, consisting of various length and diameter combinations, in collaboration with Cardialysis BV, a specialized Clinical Research Organization (CRO). Such research by local manufacturers are expected to provide products at relatively lower cost, thus increasing affordability and in turn the product usage. This is expected to aid in the market growth.

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Moreover, technological advancement such as nano-coated coronary stents are propelling its adoption, thus aiding in the market growth. For instance, in 2017, CeloNova BioSciences Inc. is evaluating its proprietary Cobra PzF Nanocoated Coronary Stents (NCS) in patients with high bleeding risk. Nanocoated coronary stents are alternate therapy for patients incompatible to drug eluting stents and long term antiplatelet therapy.

Factors such as risky stent implantation is expected to negatively affect growth of the market. For instance, stents implantation is prone to stents displacement and re-narrowing of the arteries. Re-blockages are addressed by administering blood-thinning drugs, which is leading to high adoption of drug eluting coronary stents.

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