Are Robotic-assisted PCI Techniques Future of Coronary Stent Surgical Procedures?
Arizton’s recent research report on the global coronary stent market provides comprehensive industry analysis, trend forecasts, and competitive analysis. The research 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 type (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 2018−2014.
Coronary stents are tube-like expandable devices used to treat damaged coronary arteries. The introduction of coronary stents helps in stabilizing vascular dissections and eliminating arterial recoil, which have been common complications in balloon angioplasty. The global coronary stent market is divided into major segments - products, end-users, designs, and geography.
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Drug-eluting stents are likely to occupy the largest share in the global coronary stent market
The drug-eluting stents (DES) segment includes biodegradable polymer coating DES and polymer free DES. The segment dominated the global coronary stent market with a share of 89% in 2018. Rising incidences of coronary artery disease(CAD), cardiovascular diseases (CVD), coupled with the increasing elderly population are the major factors driving the growth of drug-eluting coronary stent. The DES technology is highly innovative and already influenced the existing treatment modalities of CAD to a large extent. DESs have less restenosis and revascularization rates than traditional balloon angioplasties.
Healthcare professionals prefer MI techniques such as PCI procedures over open surgical techniques as they are highly accurate, less painful, fast recovery time, minimal complications, and reduced hospital stay for patients. The number of MI procedures to treat several CVDs has increased over the last few years due to the above-mentioned advantages. Abbott received the US FDA approval for its XIENCE Sierra coronary stent in 2018.
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Hospitals are major end-users for coronary stents
Hospitals perform a high number of PCI procedures for treating CAD. The growing aging population, changing lifestyle patterns, and increasing prevalence of CVDs are the major factors contributing to the increase in the volume of PCI procedures in hospitals. This segment accounted for a share of 63% in the global coronary stent market. The AHA reported CVD causes around 0.8 million deaths in the US alone. According to the WHO, around 18 million people die due to CVDs annually across the globe. Recently, hospitals have also adopted robotic-assisted PCI techniques. Large and medium hospitals are well equipped with sophisticated healthcare infrastructure and often perform highly complex surgeries as they employ skilled surgeons and have access to advanced equipment such as video-assisted, robotic-assisted platforms, and hybrid operating rooms to provide high-quality patient care. For instance, in 2018 the world’s first in-human telerobotic coronary stenting procedure was performed at Apex Heart Institute, India.
APAC market is likely to offer lucrative opportunities for the uptake of a diverse range of coronary stents
The APAC accounted for a share of 21% in the global coronary stent market in 2018. Favorable government initiatives, the presence of a large patient population, improvements in healthcare infrastructure, increased healthcare expenditure, and growth in the medical tourism industry in APAC are driving the global coronary stent market. Japan, China, India, South Korea, and Australia are the major revenue contributors to the coronary stent market in APAC. According to the Global Burden of Disease (GBD) 2015 study, the death rate due to CVD in India stood at 272 per 100,000 population. China, with its high proportion of aging people and PCI procedural volume, is expected to become the leading market for coronary stents in the region. The demand for latest-generation coronary stents in APAC is expected to increase during the forecast period as several developing countries governments are offering favorable reimbursement options for PCI procedures.
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Abbott, Boston Scientific, Medtronic, BIOTRONIK, Terumo, B.BraunMelsungen, and Biosensors International Group are identified as the prominent vendors in the global coronary stent market.
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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 market sizing and forecast for major geographical regions and key countries.
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