Coronary stents are tiny flexible
tube devices used for expanding the blood vessels of the patients in order to
prevent obstacle. The stents are inserted into blood vessel of a patient
suffering from a coronary disease. The tube features are also used for enlarging
the narrowed arteries, and it also helps in reducing the chest pain and the
associate drisk of cardiac arrests.
According to study, “Coronary
Stents Market Report: Drivers, Restraints and Opportunities, Trends and
Forecasts to 2023” some of the major companies that are currently
working in the coronary stents market are Biotronik SE & Co. KG, Abbott
Laboratories, Fortimedix B.V., Medtronic PLC, Boston Scientific Corporation, B.
Braun Melsungen AG, Andramed GmbH, Hexacath, Kyoto Medical Planning Co. Ltd.,
I.B.S. S.P.A, Elixir Medical Corporation, MicroPort Scientific Corporation,
Translumina GmbH, Biosensors International Group Ltd., Blue Sail Medical Co
Ltd., Inspire MD,JW Medical Systems, Lepu Medical Technology, Vascular Concepts
Ltd., Reva Medical Inc., IRIDEX Corporation, Essen Technology, Terumo
Corporation, Stentys SA, Meril Life SciencePvt. Ltd.
Based on the type, the coronary
stents market is segmented into Drug Eluting Stents (DES), Bare Metal Stents
(BMS), Dual Therapy Stents (DTS), Bio-Engineered Stents (BES) and
Bio-Absorbable Stents (BAS). Based on the forms, the market is segmented into
wire form, sheet form and tube form. Based on manufacturing method, the market
is segmented into water-jet cutting, laser cut and photo etching. Based on the
mode of delivery, the market is segmented into self-expanding stents and
balloon-expandable stents. Based on the bio-material, the market is segmented
into polymeric bio-material, metallic, and natural biomaterial. Metallic stents
include cobalt chromium (CoCr), stainless steel, platinum chromium (Pt-Cr),
nickel titanium, and others. Based on the end-user, the market is segmented
into Ambulatory Surgical Centers (ASCs), hospitals and cardiac centers etc.
The key benefits of using coronary
stents include use of short procedure, less invasive than open heart surgery
and their failure rate is 1%. Moreover, some of the major disadvantages
associated with use of the devices is that it is not a confirmed cure can be
rejected by body and aggravates kidney function.
The coronary stents demand is
primarily driven by growing acceptance of the persistent endovascular
surgeries. The other driving factors creating a demand of coronary stents
include the increasing aging population, rising medical tourism, sophisticated
healthcare system, high healthcare spending, presence of large number of market
players, favorable reimbursement policies, the influence of western culture
among adults, rising technological advancements, lifestyle changes, addiction
to smoking, huge demand for diagnosis & treatment methods and increasing
prevalence of cardiovascular diseases. The other restraints adding to the high
cost of capital includes associated with stent implants, product failure &
product recalls, slow adoption rate, high cost of devices, post-operative
complications, stringent regulations for approval and availability of
alternative treatment procedure. The key opportunities associated with the
market are include increase in clinical trials and market expansion
opportunities in the emerging nations.
Globally, the North American region
holds the largest share of the coronary stents owing to growing investment in
healthcare and increasing consciousness about risk factors for the coronary
heart disease. During the forecast period it is expected that the Asia-Pacific
market to grow at a significant phase due to growing number of diabetes &
hypertension cases. It is estimated that the global coronary stents market to
reach at US$ 11.1 billion, by 2023.
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