Coronary Stents Market Value to Reach US$ 51.2 Million by 2032, Says Future Market Insights

According to the most recent Future Market Insights (FMI) report, the demand for portable and coronary stents market will increase significantly over the next few years.

The demand for interventional cardiology care is being fuelled by the rising prevalence of coronary artery disease. Angioplasty is the first choice of treatment for patients with long-term CAD.

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Over the last few years, companies in the cardiovascular diagnostic segment are making major investments in order to introduce innovative coronary stents to capitalize on lucrative opportunities in the interventional vascular devices market. Also, companies are working on key related issues of drug-eluting stents and working on a comprehensive model of drug release from these stents and the subsequent uptake of the drug into arterial tissue.

For instance, in the past recent years, Abbott received FDA approval for its bioresorbable heart stent absorb, making the first-of-its-kind medical device commercially available to treat people with coronary artery disease in the U.S.

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Key Takeaways from Coronary Stents Market Study

In terms of raw material, the coronary stents market is expected to witness substantial growth in the next few years. Currently, polymer segment accounts for major share of the global Coronary Stents market.
North America has been estimated to dominate the coronary stents market with maximum market share in 2019.
The primary trend in the coronary stents market is an increasing number of local manufacturers of coronary stents. Also, growth in interventional cardiology procedures, is an ongoing trend in the coronary stents market.

"Increase in number of cardiac catheterization laboratories and increasing prevalence of cardiovascular diseases are the main factors that will continue to drive the growth of the coronary stents." says the FMI Analyst.

Increasing Manufacturing Practices across Low Cost Geographies, Boosts the Coronary Stents Market

Transfer of medical device manufacturing practices across low cost geographies such as India, China, South Africa, ASEAN and other Asian countries is expected to fuel growth of the global coronary stents market. Companies offering hospital supplies are targeting price-sensitive geographies through mergers and acquisitions. Leading manufacturers of coronary stents are acquiring domestic players to gain maximum market share in local markets. Moreover, these companies are focusing on low cost product launches in these region owing to large patient pool belonging to the lower middle income group.

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Coronary Stents Market Structure Analysis

Tier I companies in the coronary stents market include

Abbot Vascular
Medtronic Inc.
Terumo Corporation
Boston Scientific and few other key players.

Key Segment

By Raw Material:

Cobalt Chromium
Stainless Steel
Platinum - Chromium
Nickel - Titanium
Polymer

By End User:

Hospitals
Ambulatory Surgical Centers
Cardiac Catheterization Laboratories

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By Region:

North America
Latin America
Brazil
Western Europe
Eastern Europe
Asia Pacific Excluding Japan
Japan
Middle East and Africa (MEA)

By Product:

Drug Eluting Stent (DES)
Bare Metal Stent (BMS)
Bioresorbable Vascular Stent (BVS)

Key Companies Profiled:

Abbott
Medtronic
Boston Scientific Corporation
Terumo Corporation
B Braun Melsungen AG
Biotronik
Stentys SA
MicroPort Scientific Corporation
C. R. Bard, Inc.
Cook Medical

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About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.