Coronary Stents Market Overview
The increasing occurrences of cardiac disorders are boosting the market. Coronary stents are used for the prevention of holding the walls of the vessel at defined positions, which prevents its shrinking and helps in curing the blockages in clogged arteries. Coronary stents are a part of the minimally invasive technique, which has increased its applications and preference among doctors and patients. On observing the current market trends, the global coronary stents market is expected to touch a 08 % annual growth mark during the survey period.
As technology advanced, the drug-eluting stents have taken the place of the traditional metal stents and improving the results as well. Increasing the prevalence of heart diseases globally has pushed the market for introducing cost-effective and better methods. The authorities and companies are regularly investing in the research & development programs to improve the processes, which has accelerated the market on global levels.
Growing cases of coronary artery diseases due to unhealthy lifestyles and diets has boosted the demands for coronary stents. Increasing awareness, rise in disposable incomes, and rising healthcare budgets are some of the significant factors for seamless growth in this market. The global coronary stents market has become an integral part of the healthcare structure. Still, the factors like lack of untrained personnel, struggling medical facilities, and time-to-time recall of the defective parts is hindering the market’s growth rates during the survey period.
Impact of COVID – 19 on Coronary Stents Market:
An estimated two million people get coronary artery stents every year, according to the Harvard Health School. The current outbreak of COVID – 19 has affected the coronary stents market in several ways. The business complexities arising from the current pandemic has created confusion with respect to the production of medical devices. The solution to various multifaceted uncertainties experienced by coronary stent manufacturers, hospitals, surgical centers, and organizations working in the supply chain of these medical devices are covered in the restructured research report.
Based on a longtime voluntary registry, founded by the German Society for Thoracic and Cardiovascular Surgery (GSTCVS), well-defined data of all cardiac, thoracic, and vascular surgery procedures performed in 78 German heart surgery departments during the year 2018 were analyzed. For this period, a total of 174,902 procedures were submitted to the registry, 98,707 summarized as heart surgery procedures and 942 assist device implantations were registered. The growth in the cardiac surgeries can be explained with the help of infographic below.
showed how it could move forward in the coming years.
Coronary Stents Market segments
The global coronary stents market is segmented into two parts mentioned below:
Types of products: Bare metal stents, drug-eluting stents, and bioresorbable vascular scaffold (BVS) are the types of coronary stents.
End-Users: Hospitals, clinics, and others are the major end-users.
Coronary Stents Market Regional Summary
America, Europe, Asia Pacific, and The Middle East & Africa are the major regions observed for the global coronary stents market.
The American region is the current market leader and will maintain its lead during the survey period with The North American region, the major shareholder. Rising patient counts, demands for the latest medical treatments, presence of key players, well-established healthcare facilities, and other factors are propelling the market in this region.
The European region is the second-largest market due to increasing research & development programs, government initiatives, and other factors.
The Asia Pacific region is the next biggest market in this tally but will file the highest growth rates during the survey period due to improving healthcare structures, rise in healthcare budgets, vast population, the occurrence of heart diseases, and other factors.
The rest of the regions will file comparatively slow growth rates due to underdeveloped healthcare sector and limited disposable incomes.
Coronary Stents Market Key Players
Abbott, B. Braun Melsungen AG, Biotronik SE & Co. KG, Boston Scientific Corporation, C. R. Bard, Inc., Cook Medical, Elixir Medical Corporation, Medtronic plc, Meril Life Sciences, MicroPort Scientific Corporation, Stentys SA, and Terumo Corporation are some of the key players in the global coronary stents market.
Coronary Stents Industry News
The global market is growing at substantial rates but is struggling against the regular recalls of the defective devices, lack of professional handling, and other factors. The American region with the North American region as the primary shareholder will lead the global market. In contrast, the Asia Pacific region will emerge as the fastest-growing market during the survey period.
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