Incorporation of Advanced Technology to Remain Crucial to Ensure Sustained Demand for Coronary Stents

The global coronary stents market exhibits intense competition with the top four players representing nearly 87% of the overall market. The accelerated research activities to launch new and improved coronary stents is boosting the competitive rivalry among the global players, says Transparency Market Research (TMR) in a new study. The top four companies are Medtronic Inc., Boston Scientific Corporation, Abbott Laboratories Inc., and Terumo Corporation. Other key players influencing the growth of the global coronary stents market are B. Braun Melsungen AG and Biotronik SE & Co. KG.

“The new entrants can establish a presence by devising robust market strategies and reliable products to establish themselves in a market already being dominated by large companies. The global coronary stents market is also characterized by high threat of substitutes and strict regulatory requirements, thereby raising the barriers for new entrants,” states the author of the report. However, increasing opportunities for merger and acquisitions for the development of innovative stents for treating multiple coronary artery diseases will attract new companies to the global coronary stents market.

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Rising Prevalence of Coronary Artery Diseases to Drive Sales of Coronary Stents

Globally, cardiovascular diseases (CVDs) cause the highest number of deaths every year. According to the World Health Organization (WHO), nearly 17.5 million people died from CVDs in 2012. Out of these, 7.4 million died as a result of coronary artery diseases (CADs). The growing prevalence of CADs will boost the demand for percutaneous coronary interventions (PCIs), which in turn would increase the uptake of coronary stents. Moreover, the rise in global obesity rates will add to various coronary artery diseases. The WHO also estimates that nearly 23% of overweight and obese individuals suffer from some form of CAD. These trends are likely to bolster the growth of the global coronary stents market.

The advent of innovative and new coronary stents, especially the bio-absorbable ones bodes well for the growth of the global coronary stents market. These technologically advanced stents have minimum or no side effects, thereby promoting their uptake. Another factor driving the growth of the global coronary stents market is the increasing geriatric population worldwide. As aged people are more susceptible to CADs, the need for PCIs among such population is relatively higher, which in turn, will propel growth of the global coronary stents market.

Rejection Rate of Coronary Stents Remains High in Less Developed Regions Owing to High Price and Lack of Reimbursement

The global coronary stents market is generating the better part of its revenue from developed countries, while less developed regions such as MEA are still dependent upon other therapies. This is attributed to the high cost of various coronary stents available. Furthermore, patients from several emerging and less developed markets face shortage of reimbursement policies for these stents. The patients, therefore, switch to alternative methods, thereby adversely affecting the demand for coronary stents. Thus, these factors are negatively influencing the growth of the global coronary stents market.

The rising occurrence of side effects such as in-stent restenosis, thrombosis, and late stent restenosis associated with coronary stents has resulted in the rejection of coronary stenting procedures. This is likely to impede the growth of the global coronary stents market. However, novel technologies are expected to reduce the side effects and will increase penetration of coronary stents in developed as well as emerging markets.

Minimum Side Effects to Facilitate Impressive Growth of Bio-absorbable Stents

The global coronary stents market stood at US$ 9.35 bn and is expected to expand at a 9.5% CAGR between 2013 and 2019, reaching the value of US$ 13.85 bn in 2019. Based on product type, drug eluting stents have wider adoption amongst patients due to their easy availability and reduced side effects. The segment is anticipated to account for a dominant 69.5% of the global coronary stents market in terms of revenue by 2019. On the flip side, bio-absorbable stents are projected to register noteworthy growth due to the fact that they get completely absorbed into the tissues, thereby causing minimum or zero side effects.

In terms of geography, North America was the leading segment in 2015 and is expected to retain its position until the end of 2019 owing to the increasing obese and aging population in the region. However, Asia Pacific is showing strong growth owing to the increasing purchasing power and continuously developing healthcare infrastructure.

The information presented in this review is based on a Transparency Market Research report, titled, ‘Coronary Stents Market - Global Industry Analysis, Size, Share, Pipeline Overview, Growth, Trends and Forecast, 2013 - 2019.’

The global coronary stents market is segmented as follows:

Coronary Stents Market, by Product Type

Bare Metal Stents
Drug Eluting Stents
Bio-absorbable Stents
Coronary Stents Market, by Geography

North America
Europe
Asia-Pacific
Rest of the World (RoW)

Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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This release was published on openPR.