Stents Market share to growing at CAGR of 7.8% by 2022, Top Prominent Players: Boston Scientific Corporation, C.R. Bard, Inc.

Coronary stents was the largest segment in terms of value, whereas peripheral stents were the dominating market segment in terms of volume. Moreover, coronary stents market is projected to be the fastest growing segment in terms of both, value and volume, during 2016-2022. Asia-Pacific is expected to continue leading the geographic segment during the forecast period.

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The global stents market is expected to garner $16.66 billion by 2022.

COVID-19 scenario-

1) Due to the global pandemic all over the world, the medical devices manufacturers are majorly focusing on essential medical devices production including ventilators and diagnostics.

2) However, due to the precautionary measures taken by governments in various regions, the supply chain has been hampered. Which may result in shortage of devices in certain locations.

3) Food and Drugs Administration (FDA), on the other hand, shared a COVID-19 guidance with medical device manufacturers to notify the agency about changes that could affect availability of their products.

The major drivers of the market include increasing geriatric population and high incidence of heart failures & coronary disorders such as esophageal cancer, gall bladder cancer, and other abnormalities.

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In addition, technological advancements in stent systems, such as advent of bioabsorbable stents, have fueled the market growth. Continuous improvements in healthcare insurance and reimbursement is expected to boost the growth of the stents market in the developing and underdeveloped countries, says lead analyst of the report, Deepa Tatkare. However, high cost of these stents in the emerging countries is one of the major restraining factors of the market, she further added.

The coronary stents market has a huge potential with the presence of many players developing innovative technologies. Increasing advancements in the field of interventional cardiology coupled with the progress of minimally invasive techniques have significantly extended the potential of therapeutic applications of stents. Coronary stents such as bare metal stents, drug-eluting stents, and bioabsorbable stents can be used to treat coronary artery diseases (CAD).

Bioabsorbable stent is expected to be the fastest growing segment, registering a CAGR of 37.2% during the forecast period. The major factors fueling the market growth are increasing focus on the development of bioabsorbable stents and their high adoption rate as they can be easily absorbed in the body and do not cause restenosis/thrombosis.

Metallic biomaterial is the dominant segment due to its cost effectiveness and the efficacy of vascular healing as compared to other stents. Natural biomaterials such as animal or plant origin materials have demonstrated several advantages over synthetic biomaterials. These are biocompatible, nontoxic, may also carry specific protein binding sites, and other biochemical signals that may assist in tissue healing or integration. The global natural biomaterial stents market is expected to grow at a CAGR of 10.5% from 2016 to 2022.

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The Major key players profiled Are:

• Abbott Laboratories
• B. Braun Melsungen AG
• Biotronik SE & Co. KG
• Boston Scientific Corporation
• C.R. Bard, Inc.
• Elixir Medical Corporation
• Medtronic plc
• Microport Scientific Corporation
• STENTYS S.A.
• Terumo Corporation.

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