Latin America Coronary Stent Market was worth USD 716 million in 2016 and estimated to be growing at a CAGR of 7.8%, to reach USD 1.04 billion by 2017- 2021.
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Latin America Coronary Stent Market was worth USD 716 million in 2016 and estimated to be growing at a CAGR of 7.8%, to reach USD 1.04 billion by 2021. A stent is implanted in the body for treatment of cardiac abnormalities such as blocked blood vessels.
In addition, stents are implanted in the oesophagus to allow the passage of food and beverages in patients suffering from oesophageal cancer. Stents are generally made of metals, polymers, and natural bioabsorbable materials.
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One of the major driving factor of the market is the rising prevalence of diseases coupled with a spurt in the aging population. A lot of companies are investing in R&D projects related to stents which further fuels the growth.
Many technological innovations are taking place in the field of stents. Further, there has been a rise in the acceptance of stents by patients.
However, the cost of the stent increases with advancement in technology. This is a major restraint to the growth of the market.
Also, the approval processes for stent manufacturing and selling is very stringent in many countries.
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The market for Coronary Stent is broadly categorized into type, mode of delivery, material type and End user. By type, the market is further segmented into bare metal stents, drug eluting stents and bioabsorbable stents.
The market is expected to be driven by bioreabsorbable stents, mainly in the polylactic acid material. However, drug eluting stents will continue to generate major revenue.
By mode of delivery, it is further classified into balloon expandable stents and self-expanding stents. By material, market is analysed under metallic stents and other stents.
By end user, the market is divided into hospitals, cardiac centres and ambulatory surgical centres. On the basis of geography, the market is analysed under various regions namely Brazil, Argentina and rest of Latin America.
- Mode of delivery
- End user
Key players in this market include Medtronic plc (Ireland), Abbott Laboratories (U.S.), Boston Scientific Corporation (U.S.), Biosensors International Group, Ltd. (Singapore), BIOTRONIK SE & Co. KG (Germany), B. Braun Melsungen AG (Germany), TERUMO CORPORATION (Japan), STENTYS SA (France), MicroPort Scientific Corporation (China), Meril Life Sciences Pvt. Ltd. (India), Vascular Concepts (India), and Translumina GmbH (Germany).
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