Coronary Stents Market Proliferating Opportunities, New Innovation, Development, Application Till 2028

Coronary Stents Market Outlook 2028

The global coronary stents market was valued at US$ 10.1 Bn in 2020

It is estimated to expand at a CAGR of 12.9% from 2021 to 2028

The global coronary stents market is expected to reach the value of US$ 25.7 Bn by the end of 2028

Report Overview: https://www.transparencymarketresearch.com/coronary-stents-market.html

Increase in Demand Due to Rise in Prevalence of Cardiovascular Diseases

The growing incidence of cardiovascular disorders in people across the globe is a major factor driving the coronary stents market during the forecast period. Coronary stents are tubes placed in the coronary artery to clear artery blockages or coronary artery stenosis. They are utilized in a procedure called percutaneous coronary intervention (PCI) or coronary angioplasty. This procedure is a minimally invasive procedure to treat stenosis or narrowing of the coronary arteries. Technology plays an indispensable role in the global coronary stents market. Manufacturers have been undertaking rigorous research and development initiatives to develop nascent products that are functionally superior to their previous versions.

Changes in lifestyle and need of controlling rapidly rising obesity rate are major factors for the treatment of cardio vascular disease (CVD). Percutaneous coronary intervention has become a standard treatment option preferred across the globe for CVD. Increase in awareness about the technological innovations in interventional cardiology and cost effectiveness of the procedure propel stents production.

Stringent Regulations for Product Approvals in Developing Nations

The approval of medical devices is considered to be expensive. Coronary stents fall under the category III devices of the U.S. FDA. These devices require submission and approval of pre-market approval (PMA) application prior to commercial marketing in the U.S. The requirements of clinical and pre-clinical data for stents engage the sponsor and manufacturer for a long period of time. Resources of manufacturers and investors such as time and money are spent on conducting safety testing and clinical pharmacology and toxicology testing of drug substance in case of DES. The FDA's regulatory procedures are comparatively time-consuming as compared to that of EMA. Thus, prolonged procedures of drug approval by regulatory authorities in the U.S. deter manufacturers from opting for development and commercialization of stents.

Drug Eluting Stent to be Highly Lucrative Segment

Advancements in the coronary stent technology are expected to augment the market during the forecast period. The drug eluting stent segment is expected to account for a major market share in the upcoming years. There is an increasing risk of stent thrombosis in patients after stopping the antiplatelet therapy. The management of CAD has improved to advances in the drug eluting stent (DES) technology. The advanced technology can be efficiently used to treat patients with coronary artery diseases. New materials are being developed for the treatment such as biodegradable metals, etc. Technological advancements in coronary stents and lucrative presence of manufacturers are driving the global coronary stents market growth.

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North America Coronary Stents Market to Expand at Rapid Pace

North America is expected to dominate the global coronary stents market, followed by Europe and Asia Pacific nations such as Japan and China. CVDs are listed as a major cause of mortality across the world, responsible for one in every three deaths in the U.S. The occurrence of restenosis after angioplasty procedure boosts the adoption of novel stents, such as drug-eluting and bioresorbable, which are known to drastically reduce the frequency of restenosis. This factor boosts the demand for coronary stents in North America. High geriatric population, lifestyle changes leading to obesity and related health complications, and advent of advanced technologies such as bio-absorbable and next generation stents are major factors driving the North America coronary stents market.

Coronary Stents Market: Overview

According to Transparency Market Research's latest report on the global coronary stents market for the historical period 2017-2019 and forecast period from 2021 to 2028, rise in prevalence of coronary artery diseases (CADs) and increase in global obesity rate are projected to drive the global coronary stents market during the forecast period

Rise in Prevalence of Cardiovascular Diseases: Key Driver

Cardiovascular diseases (CVD) overtook cancer as the leading cause of chronic disease morbidity and mortality in the 20th Century. It has peaked and begun to fall in many countries, while it is rising in developing countries. Risk factors, sociocultural changes, and medical care all play a role in understanding these disease patterns.

According to the World Health Organization, 17.9 million people succumbed to CVDs in 2019, constituting 32% of all global deaths. Around 85% of these deaths were caused by a heart attack or a stroke.

More than three-quarters of CVD deaths occur in low- and middle-income countries. In 2019, non-communicable diseases claimed the lives of 17 million people under the age of 70, accounting for 38% of all premature deaths.

High systolic blood pressure and smoking are the first and second leading risk factors for years of life lost globally in 2019. In the same year, the first and second leading years lived with disability and injury risk factors were high fasting plasma glucose and high body mass index.

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Improvement in Coronary Stents Technology Boosts Market Growth

Coronary stent technology has progressed from a mechanical solution to abrupt vessel closure and elastic recoil after simple balloon angioplasty to a vector for local drug delivery and modification of coronary plaque pathophysiology. The introduction of drug-eluting stents (DES) has significantly reduced restenosis, but there is growing concern about the risk of late stent thrombosis, particularly after stopping antiplatelet therapy.

Management of coronary artery disease has improved to advances in drug eluting stent (DES) technology. They improve long-term patency rates by inhibiting restenosis through the controlled release of an antiproliferative agent, such as Paclitaxel, after deployment.

In the field of stent technology for treating patients with coronary artery disease, there has been a rapid technological advancement. As potential materials for the next generation of cardiovascular system treatment are developed, the use of biodegradable metals as implants will be revolutionized. Hence, enhancement in the coronary stents technology is expected to augment the market during the forecast period.

Stringent Regulatory Approvals to Hamper Market

Stringent regulatory approvals for coronary stents is likely to hamper market growth. The stringent regulatory environment could act as a restraint of the global coronary stents market over the next few years. Various governments and organizations establish guidelines and rules for the safer and more effective use of stents.

The European Association of Percutaneous Cardiovascular Interventions (EAPCI) provides clinical and non-clinical stent guidelines. Additionally, before approving stents, the FDA conducts a thorough systemic review of the literature as well as pre-clinical trials in human.

The Office of Combination Products (OCP) has published regulations for surgeons and physicians to use drug-eluting stents. These stringent rules for the use of stents are projected to hamper the growth of the global market.

Coronary Stents Market: Competition Landscape

This report profiles major players in the global coronary stents market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments

The global coronary stents market is competitive, with the top 10 players accounting for major share of the market and companies focusing on research & development to produce better pharmaceutical and vaccine products for the existing diseases

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Leading players operating in the global coronary stents market are

Abbott Laboratories Inc.

Boston Scientific Corporation

Medtronic Inc.

Johnson & Johnson

Terumo Corporation

B. Braun Melsungen AG

C. R. Bard Inc.

Cook Medical Inc.

AMG International GmbH

Biotronik SE & Co. KG

Stentys SA

and MicroPort Scientific Corporation

among others

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