Coronary Stent Market is expected to reach USD 10.31 Billion by 2021 from USD 7.16 Billion in 2016, at a CAGR of 7.6% during the forecast period. Coronary Stent Market report categories the global market by Mode of Delivery (Balloon Expandable, Self), Type (Drug Eluting, BMS, BVS), Material (Metal (Stainless Steel, CoCr, PtCr, Nitinol), Polymer, Copolymer), End User (Hospital, Cardiology Center, ASC) & by Geography
According to a new market research report "Coronary Stent Market by Type (BMS, BVS, Drug Eluting), Mode of Delivery (Self, Balloon Expandable), Material (Metal (Stainless Steel, CoCr, PtCr, Nitinol), Polymer, Copolymer), & End User (Hospital, Cardiology Center, ASC) - Global Forecasts to 2021" published by MarketsandMarkets.
This report analyzes and studies the major market drivers, restraints, opportunities, and challenges in North America, Europe, Asia, and the Rest of the World (RoW). The growth of this market is mainly driven by factors such as technological advancements, increasing number of percutaneous coronary intervention (PCI) procedures, rising burden of CAD, increasing demand for minimally invasive procedures, and rising geriatric population.
Moreover, development of bioresorbable vascular scaffold (BVS) and expansion in emerging markets provide significant growth opportunities in the market.
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However, alternative treatment methods for CAD, stringent regulations for product approval, and numerous cases of product failure and product recall may hinder the growth of this market during the forecast period.
The report segments the Coronary Stent Market based on type, mode of delivery, material, end user, and region. Based on type, the market is segmented into bare-metal stents, drug-eluting stents and bioabsorbable stents.
The drug-eluting stents segment is expected to account for the largest share of the coronary stents market in 2016. This can primarily be attributed to the advantages of drug-eluting stents over bare-metal stents, such as lower risk of restenosis and other related complications.
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Based on mode of delivery, the Coronary Stent Market is segmented into balloon-expandable stents and self-expanding stents. The balloon expandable stents segment is expected to grow at the highest CAGR during the forecast period due to factors such as increasing research activities to improve this technology, high utilization of these stents, and growing regulatory approvals for balloon-expandable stents.
Based on region, the Coronary Stent Market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). In 2016, North America is expected to dominate the market, followed by Europe.
Asia is poised to be the fastest-growing region during the forecast period. Factors such as large population base, growing prevalence of cardiac diseases, rising adoption of advanced technologies, and low manufacturing costs in the region are expected to drive market growth in Asia.
Moreover, the growing focus of major players in this region is expected to boost the coronary stents market in Asia.
The Coronary Stent Market is a highly fragmented market, with several big and emerging players. Key market players 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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