Coronary Stents Market to Showcase Robust Growth in the Upcoming Years, asserts DelveInsight

The Global Coronary Stents Market was valued at USD 9.27 billion in 2021, growing at a CAGR of 7.51% during the forecast period from 2022 to 2027, to reach USD 14.28 billion by 2027.

The rise in demand for coronary stents is primarily attributed to the rising prevalence of cardiovascular disorders such as stroke, atherosclerosis, heart attack due to increasing geriatric population; growing number of PCI (Percutaneous Coronary Intervention) procedures; increase in demand for minimally invasive surgeries, technological advancement in the product line, among others.

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Coronary Stents Overview

Coronary stents are small, expandable, wired mesh tubes that help in widening of a clogged artery and restore adequate blood flow to the heart. These stents are predominantly of two categories bare metal and drug eluting.

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Coronary Stents Market Drivers

The major drivers driving the demand for Coronary Stents are growing burden of old age population susceptible to various cardiovascular disorders, shifting preferences towards minimally invasive surgeries, technological advancement in the product line, among others.

Coronary Stents Market Dynamics

According to WHO 2021 report, in 2019, CVD were the leading cause of death across the globe accounting for an estimated 17.9 million deaths which represent 32% of all the global deaths. Out of these CVD deaths, 85 % were due to stroke and heart attack. Moreover, according to a study published in NCBI 2020, Global Epidemiology of Ischemic Heart Disease: Results from the Global Burden of Disease Study by Khan M. AB, et al., Ischemic heart disease (IHD) affected around 126 million individuals (1,655 per 100,000), which was approximately 1.72% of the world's population and around nine million deaths were caused by IHD globally. As per the same study, the global prevalence of IHD is rising and the current prevalence rate of 1,655 per 100,000 population is expected to exceed 1,845 by the year 2030. Thus, rising prevalence of IHD is contributing to the market growth of coronary stent as these stents are inserted into coronary arteries via a catheter to widen the artery and increase blood flow to ischaemic heart muscle.

In addition, growing number of PCI (Percutaneous Coronary Intervention) procedures is also a driving factor for the coronary stent market. For instance, according to a study published in NCBI 2021, Anticoagulants Used in Cardiac Catheterization of Patients With Chronic Lymphocytic Leukemia: A Case Report and Overview by Mararenko A. et al., Percutaneous coronary intervention (PCI) is one of the most frequently performed minimally invasive procedures and also plays a key role in the long-term survival of patients with ischemic heart disease. According to the study, over 965,000 angioplasties are performed annually in the United States alone. Thus, rising PCI surgery numbers can boost the global coronary stents market.

Certain factors such as few product recalls, risk of restenosis, and high cost of the procedure may pose a minor hurdle for the growth of the coronary stents market.

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Coronary Stents Market Insights

Among all the countries, North America is expected to dominate the overall Coronary Stents market during the forecast period. This domination is due to the improved healthcare infrastructure, favourable reimbursement scenario in the region.

Further, in the United States the rising prevalence of coronary heart diseases and other CVDs is projected to boost the coronary stent market in the region. For instance, as per the data of American Heart Association 2021, in the year 2018, Coronary Heart Disease (CHD) was the leading cause (42.1%) of deaths attributable to CVD in the US, followed by stroke (17.0%), high blood pressure (11.0%), Heart failure (9.6%), diseases of the arteries (2.9%), and other CVD (17.4%). Coronary artery diseases or coronary heart diseases is characterized by narrowing of arteries due deposition of cholesterol which require coronary stent to open the arteries for proper blood flow. Thereby, fuelling the coronary stents market.

In addition, presence of key manufacturers such as Medtronic, Boston Scientific Corporation, among others is also likely to boost the coronary stents market. Furthermore, recent product approval in the region will also contribute to the market growth. For instance, in 2019, German medical device company received U.S. Food and Drug Administration (FDA) approval for Orsiro drug-eluting coronary stent (DES) system.

Europe and Asia-Pacific region has the future potential growth for the Global Coronary Stents. This is due to the rising burden of geriatric population in the European region countries and in Asian countries also. Rapid urbanization, increase in disposable income, improved government funding towards cardiovascular disorder management, and growing healthcare awareness about are the factors that are likely to drive the market. In addition, low manufacturing cost of coronary stents, new product approval and launch in the region is also expected to pose a lucrative market growth. For instance, in 2019, Meril Life Sciences (India) launched Evermine50, an everolimus-eluting coronary stent system.

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Coronary Stents Companies

Some of the key market players operating in the Coronary Stents market includes Medtronic, Abbott, Boston Scientific Corporation, Biosensors International Group, Ltd., B. Braun Melsungen AG, TERUMO CORPORATION, STENTYS SA, MicroPort Scientific Corporation, Meril Life Sciences Pvt. Ltd., and others.

To understand key companies related to the Coronary Stents Market, get a snapshot of the Coronary Stents Regulatory and Patent Analysis, visit: https://www.delveinsight.com/report-store/coronary-stents-market-market?utm_source=openpr&utm_medium=pressrelease&utm_campaign=kpr

Table of Contents

1. Coronary Stents Market Report Introduction
2. Coronary Stents Market Executive Summary
3. Regulatory and Patent Analysis
4. Coronary Stents Market Key Factors Analysis
5. Coronary Stents Market Porter's Five Forces Analysis
6. COVID-19 Impact Analysis on Coronary Stents Market
7. Coronary Stents Market Layout
8. Coronary Stents Market Global Company Share Analysis - Key 3-5 Companies
9. Coronary Stents Market Company and Product Profiles
10. Project Approach
11. KOL Views
12. DelveInsight Capabilities
13. Disclaimer
14. About DelveInsight

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About DelveInsight
DelveInsight is a leading Life Science market research and business consulting company recognised for its off-the-shelf syndicated market research reports as well as customised solutions to firms in the healthcare sector.

This release was published on openPR.