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How Cardiovascular Stents Market will Rise in Coming Years? Top Players: Abbott, Boston Scientific, and Medtronic
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https://www.fortunebusinessinsights.com/industry-reports/cardiovascular-stents-market-100061
Cardiovascular diseases are becoming prevalent owing to the increasing adoption of unhealthy lifestyle practices worldwide. These habits can lead to obesity, diabetes, and atherosclerosis, which will further stoke demand for minimally-invasive surgeries such as angioplasty or and others.
Cardiovascular stents, also referred to as percutaneous coronary stents, help to compress the plaques, keeps the veins and arteries wide open, and minimizes the risk of heart attacks. There has been a persistent increase in the prevalence of coronary artery ailments primarily due to the adoption of a sedentary lifestyle. This, in turn, will fuel the demand for percutaneous coronary mediation procedures or cardiovascular stents. As per the report, the global market was worth US$ 7,838.9 Mn in 2017 and is register 6.6% CAGR by achieving US$ 13,100.2 Mn in 2025.
Robust Distribution Network of Cardiovascular Stent Manufacturers Drives the Market in Asia Pacific
Cardiovascular stent manufacturers have an improved distribution network especially in countries such as Australia and China. This is expected to propel growth in the market in Asia Pacific. The market in this region is expected to witness considerable CAGR owing to the price capping set for stents in India. This will further improve and increase the accessibility of cardiovascular stent materials, contributing to the growth of the market.
In 2017, the market in North America covered the value of US$ 2,344.9 Mn and continues to maintain its dominance through the forecast years. Increasing support from regulatory authorities for the approval of new stents is one of the key factors driving the market in this region. Furthermore, the U.S. witnesses an increasing number of ongoing clinical trials on new cardiovascular stents. This is expected to boost the cardiovascular stents market size in North America during the forecast period.
Increasing R&D Activities Boosts the Market
“Rapidly changing lifestyle leads to the rising incidence of coronary artery diseases, which in turn results in increasing adoption of cardiovascular stents,” states a lead analyst at Fortune Business Insights. “Several leading manufacturers are planning to introduce technologically-advanced stents, which will eventually boost the cardiovascular stents market share,” he added.
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Further The demand for coronary stenting is increasing on account of favorable government compensation policies in the healthcare sector. Some macroeconomic factors such as increasing FDI policies are expected to drive the market in the forthcoming years. Emerging players are increasingly investing in research and development (R&D) of coronary stents. This is done with an aim to develop innovative and advanced coronary stents such as bioengineered stents or bioresorbable stents. Furthermore, this is likely to drive the segment, which in turn, will increase the cardiovascular stents market growth.
SMT’s CE Certified Next-generation Stent System Ensures Better Deliverability .
Companies are planning to develop innovative and advanced cardiac care systems in order to eliminate errors and improve operational capabilities. For instance, Sahajanand Medical Technologies (SMT) developed a next-generation superflux cardiovascular stent system and received CE Mark in July 2019. This drug eluting system reduces the procedure time for surgeons and emits less harmful radiations. It ensures better deliverability, tractability, and promises to save more lives. Rising awareness about cardiovascular disorders is even encouraging companies to promote such systems.
Currently, the vendor landscape of the cardiovascular stents market is highly consolidated. This is ascribable to the robust distribution networking of leading companies, especially in developing economies. With the help of ongoing clinical trials funded by private and public players, more and more companies are likely to invest in this market. Influenced by this, the cardiovascular stents market revenue is expected to increase in the forecast period.
Companies such as Abbott, Boston Scientific Corporation, and Medtronic are leading the global market as they account for the maximum share.
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