San Francisco,16 October 2018:
According
to a report published by Grand View Research, Inc.; the coronary
stent market is expected to reach a valuation of around USD 15.18 billion
by 2024.
Factors such as high
prevalence of cardiovascular diseases including coronary artery diseases, favorable
reimbursement policies, and changing lifestyle can propel the market during the
forecast period (2013 to 2020).
Rise in geriatric population
is considered as one of the key factors driving the market growth. Availability
of advance treatment options for cardiac care is likely to extend lifespan of
the elderly population subset. Chaining lifestyle habits including physical
inactivity, smoking, and unhealthy diet have lead to several heart related
diseases, obesity, and hypertension. In
addition, technological advancements for improving accuracy and error reduction
are also expected to support the market growth. The market is also observing
new trends including scaffolds, bioresorbable stents, biodegradable polymer,
and bifurcation stent coupled with new techniques and minimally invasive
procedures. Moreover, the reimbursement coverage provided by the general public
Center for Medicare & Medicaid Services (CMS) and other private payers are
also expected to drive the market growth. The coverage is available under
national coverage determination for carotid artery stenting, including products
and service provider. The providers need to meet certain conditions for
coverage and all services should be certified by CMS to complete CAS
procedures.
Worldwide coronary stent
market can be segmented on the basis of product, and region. Based on product,
the market can be split into bare metal stents (BMS), bioresorbable vascular
scaffold (BVS), and drug eluting stents (DES).
Access
Research Report of Coronary
Stents Market@ www.grandviewresearch.com/industry-analysis/coronary-stents-industry
The DES segment can be further
classified into biodegradable and non-biodegradable DES. This segment is likely
to grow significantly during the forecast period due to its benefits like easy
procedures and comfort and reduced complications.
The BVS segment is likely to
show substantial growth during the projected period on account of new product
approvals of Magmaris and Magnitude are expected to increase the demand for BVS
products. These products are extensively used in cases of young patients. Benefits
such as restoring vasomotor function, and less complications are expected to
boost the segment.
Geographically, the market can
be divided into North America, Europe, Asia Pacific, Latin America, and Middle
East and Africa (MEA).
Favorable reimbursement policies
in the U.S., Canada, and the U.K. is expected to increase the demand for these
devices among the patients.
Browse more reports of this category by
Grand View Research at: www.grandviewresearch.com/industry/medical-devices
In 2016, North America estimated
for the largest market share and expected to dominate the market during the
forecast period. This growth can be associated with the presence of established
healthcare infrastructure, better reimbursement schemes, high healthcare spending,
and high prevalence of targeted diseases in this region. For instance, in 2015,
according to Centers for Disease Control and Prevention (CDC), approximately
395,000 Coronary artery bypass graft procedures were estimated in the U.S. The U.S. market is also expected to grow on
account of increasing geriatric population and inactive lifestyle. According to
CDC more than one-third population in the U.S. is obese.
Asia Pacific is expected to
show lucrative gains during the forecast period. Rise in elderly population, changing
lifestyle, and growing medical tourism are likely to drive the market in this
region. Supportive government initiatives in emerging countries including India
and China are expected to support the market in the years to come. Improving
reimbursement structure in this region is also expected to support the market. For
instance, Japan’s National Health Insurance system offers reimbursement for all
medical devices. However, poor reimbursement structures in some countries in
this region may restrict the growth.
Key players operating in the
market include C. R. Bard, Inc.; B. Braun Melsungen AG.; Boston Scientific
Corporation; Biotronik SE & Co. KG; and Cook Group.
The market is extremely competitive.
Participants have adopted strategies isuch as mergers and acquisitions, new
product launches, and strategic alliances to gain higher market share.
Additionally, players are concentrating on the development of technically
advanced products that can provide greater accuracy and efficiency.
Access
Press Release of Coronary Stents Market@ www.grandviewresearch.com/press-release/global-coronary-stent-industry
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
