Vendors are developing innovative stents that can improve procedural outcomes and disease management.
Arizton’s recent research report on the global coronary stent market identifies Abbott, Boston Scientific, Medtronic, BIOTRONIK, Terumo, B.BraunMelsungen, and Biosensors International Group as the prominent vendors in the market. The research report provides a comprehensive industry analysis, trend forecasts, and competitive analysis. The study segments the market by products (drug-eluting stents, bare-metal stents, bioresorbable stents), end-users (hospitals, specialty cardiology centers, and ambulatory surgical centers (ASCs)), design (permanent and fully degradable coronary stents), and geography (APAC, Europe, Latin America, MEA, and North America).
The global coronary stent market is expected to reach around $11 billion, growing at a CAGR of over 6.5% during 2018−2024.
Changing lifestyles that are characterized by high-stress levels, smoking, alcohol consumption, and poor choice of food habits have collectively led to questionable heart-related disorders among people world over. Coronary artery disease(CAD) is the leading cause of mortality, and this disease is responsible for around 20−25% of all deaths. The growth of the stent market is increasing due to the growing awareness among patients about CAD and the increasing availability of MI PCI procedures and advanced coronary stents.
The leading drivers and trends propelling the growth of the coronary stent market are discussed below:
Increase in Prevalence of CAD
Cardiovascular diseases (CVDs) are diseases that are related to the heart and blood vessels. The prevalence of several CVDs such as CAD is increasing due to changes in lifestyle patterns and rise in diabetes, hypertension, and obesity/overweight in young and the elderly. Generally, people with a history of diabetes, high cholesterol, high blood pressure, smoking, and overweight/obesity have an increased risk of developing CAD. In the US and Europe alone, more than 500 million people have one major cardiovascular disease risk factor. According to the World Health Organization (WHO), around 17.7 million people die annually due to several CVD.
Rapid globalization, demographic shift, aging society, urbanization, and an increase in chronic diseases pose new challenges to modern healthcare systems. In India, CAD accounts for more than 25% of all deaths. According to the WHO, the number of people above 65 years was around 617 million (8.5% of the global population) globally in 2016. Vendors are developing innovative stents that can improve procedural outcomes and disease management.
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High Growth Potential of Third-generation drug-eluting stents
The introduction of drug-eluting stents has greatly reduced the need for repeat revascularization despite research studies revealing that first-generation drug-eluting stents were associated with considerable stent thrombosis rates. The theoretical advantage of new-coating technologies such as bioabsorbable/biodegradable polymers and non-polymer-coating drug-eluting stents and their potential benefit of a shortened dual-antiplatelet therapy are likely to witness a new milestone in drug-eluting stents development. This, in turn, may enable patients to undergo other non-coronary treatments with a reduced risk of bleeding.
Biosensors International Group offers BioMatrix Alpha and BioMatrixNeoFlex biodegradable drug-eluting stents for treating CAD. It is one of the leading players offering clinically proven biodegradable drug-eluting stents. Emerging clinical data on the use of the Cre8 EVO, Cre8, Coroflex ISAR NEO, and BioFreedom suggest that these polymer-free drug-eluting stents inhibit restenosis without delaying recovery of the endothelium, thereby improving overall clinical performance.
Technological Advancements/Innovations in Stent Platforms
The global coronary stent market is witnessing tremendous technological developments. Innovations in terms of materials, coatings, and construction play a critical role in increasing the effectiveness of coronary stents and expanding their application.PCI procedures have witnessed many technical advancements and improvements, especially in stenting technology. Since the introduction of first-generation coronary stents, vendors have made significant modifications in bare-metal stents and drug-eluting stents. They have incorporated innovative technological platforms to enhance the efficacy, safety, and clinical outcome of PCI procedures.
Arterial Remodeling Technologies, Alvimedica, Balton,Cardionovum, CeloNovaBioSciences,Comed,Cordis,Elixir Medical,ENDOCOR, Eucatech,Eurocor Tech,HEXACATH,InSitu Technologies,Innovative Health Technologies,Lepu Medical Technology (Beijing),Medinol, Meril Life Sciences, Micell Technologies, MicroPort Scientific, Minvasys, ORBUSNEICH MEDICAL, Q3 Medical Devices, REVA Medical,Rontis,S3V Vascular Technologies,Sahajanand Medical Technologies, SCITECH,STENTYS,Svelte Medical,Translumina Therapeutics,USM HEALTHCARE, Vascular Concepts, and Wellinqare identified as other prominent vendors in the global coronary stent market.
The complete overview of the latest market research report on the global coronary stent market by Arizton is now available.
The report offers a detailed study of major trends, drivers, challenges, and provides the market size and forecast for major geographical regions and key countries.
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