Coronary Stent Market - Global Market Share, Trends, Analysis and Forecasts, 2023-2032
The anticipated value of the global Coronary Stent market in 2021 was $9 billion, and it is projected to increase at a CAGR of 3.2% during the forecast period 2023 to 2032.
National Center for Biotechnology Information, U.S. National Library of Medicine defines coronary stents as – “Coronary stents (CS) are expandable tubular metallic devices which are introduced into the coronary arteries that demonstrate stenosis due to an underlying atherosclerosis disease.” Stents are used for removing the atherosclerotic plaque deposited on the walls of coronary artery by means of compression.
The risk of cardiovascular diseases is increasing across the globe due to unhealthy lifestyle. Different methods are used for the treatment of coronary heart disease including pharmaceuticals, balloon angioplasty, stenting, and coronary artery bypass grafting. Among these, the coronary stent is an effective surgical method used for the treatment of coronary heart disease and thus are being used globally. The global coronary stents market is anticipated to expand at a CAGR close to 7.0% during the forecast period.
North America accounted for largest share in the global coronary stent market due to presence of large number of patients suffering from cardiovascular diseases and availability of healthcare infrastructure across the region. Europe coronary stent market is anticipated to grow at a steady CAGR during the forecast period with major contribution from the Western European countries. Major players dominating the global coronary stent market include Abbott Laboratories, B. Braun Medical Inc., Biosensors International Group, Ltd., BIOTRONIK SE & Co. KG, Cook Medical Technologies, Medtronic PLC, Terumo Corporation, and Translumina GmbH. The report titled “Coronary Stent Market - Global Market Share, Trends, Analysis and Forecasts, 2022-2032”, wherein 2020 is historic period, 2021 is the base year, and 2022 to 2032 is forecast period.
Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global Coronary Stent market. Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, security & exchange overview, research & development activities, production facilities, product portfolio, employee strength, and key executive, for all the players considered under the scope of study. For instance, Medtronic PLC reported revenues of US$ 30,557 Million in 2019 and the segment and geographic analysis of the company indicates that Cardiac & Vascular Group business segment is the dominating segment of the company, with the U.S. generating 53% of total revenue.
The global coronary stents market is segmented based on type, mode of delivery, material, end use, and geography. Based on type, the global coronary stents market is segmented into bare metal stents, drug eluting stents, bio-absorbable stents, and drug eluting stents balloons. Based on mode of delivery, the market is segmented into balloon-expandable stents and self-expanding stents. Based on material, the market is segmented into metal, composite, and bio-absorbable material. Based on end use, the global coronary stent market is segmented into hospital, ambulatory surgical center, and others. Based on geography, the global coronary stent market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Additionally, the study provides in-depth analysis of prominent players holding major share in the market with a focus on all operating business segment, and would identify the segment of the company focusing on coronary stents. Further, market share of company in the global coronary stent market would also be calculated.
For instance, Medtronic PLC operates through four business segments namely Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group. Coronary Stent is marketed under Cardiac and Vascular Group with revenue contribution of US$ 11,505 Million in 2019. The study takes into consideration the key competitive information such as business strategy, product portfolio, key development, SWOT analysis, and research and development focus of all the coronary stent companies. Furthermore, the global Coronary Stent market study would take into consideration the participants engaged throughout the supply chain and value chain of the market, along with their contribution.
Product portfolio would focus on all the products under the Coronary Stent market business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the global coronary stent market arena. Key players in the global coronary stent market are strongly focusing on developing advanced methods to implant stents with high accuracy along with high quality stents to sustain the competition in market.
Market Segmentation:
By Type–
- Bare Metal Stents
- Drug Eluting Stents
- Bio-Absorbable Stents
- Drug Eluting Stents Balloons
By Mode Of Delivery
- Balloon-Expandable Stents
- Self-Expanding Stents
By Material
- Metal
- Composite
- Bio-Absorbable Material
By End Use
- Hospital
- Ambulatory Surgical Center
- Others
By Region
- North America
- Europe
- Asia-Pacific
- South America
- Middle East and Africa
