Coronary Stents Market - Major Revenue Gain is Predicted by 2028

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

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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.

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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.

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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

Leading players operating in the global coronary stents market are
o Abbott Laboratories Inc.
o Boston Scientific Corporation
o Medtronic Inc.
o Johnson & Johnson
o Terumo Corporation
o B. Braun Melsungen AG
o C. R. Bard Inc.
o Cook Medical Inc.
o AMG International GmbH
o Biotronik SE & Co. KG
o Stentys SA
o and MicroPort Scientific Corporation
o among others

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Coronary Stents Market: Key Developments

• Key players in the global coronary stents market are engaged in regulatory approvals, technologically advanced products, launch of new products, and acquisition & collaborative agreements with other companies. These strategies are likely to fuel the growth of the global coronary stents market. A few expansion strategies adopted by players operating in the global coronary stents market are:
• In September 2021, the U.S. Food and Drug Administration (FDA) approved BIOTRONIK's Orsiro Mission bioabsorbable polymer drug-eluting stent system in September 2021 (BP-DES)
• In August 2020, Boston Scientific Corporation's SYNERGY Everolimus-Eluting Platinum Chromium Coronary Stent System obtained FDA clearance
• In January 2016, Abbott paid US$ 25 Bn for St. Jude Medical, Inc. (U.S.), a maker of heart failure, atrial fibrillation, and cardiac rhythm management devices. The acquisition enabled Abbott to boost its coronary intervention product offerings and expand its foothold in the cardiovascular devices industry.
• In May 2016, Boston Scientific and Mayo Clinic (USA) teamed up to share intellectual property and accelerate the development of medical devices
• The report on the global coronary stents market discusses individual strategies followed by company profiles of manufacturers of coronary stents devices. The competition landscape section has been included in the report to provide readers with a dashboard view and a company market share analysis of key players operating in the global coronary stents market.

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