SAN FRANCISCO, May 12, 2020 /PRNewswire/ -- The global coronary stents market size is expected to reach USD 11.3 billion by 2027, expanding at a CAGR of 4.7%, according to a new report by Grand View Research, Inc. Increasing adoption of minimally invasive surgeries and percutaneous coronary intervention (PIC) procedures is expected to drive the market for coronary stents in the coming years. Moreover, increasing geriatric population is considered as a high impact rendering driver for the growth of this industry over the forecast period. Technological advancement in 2nd generation drug eluting stents (DES) is further fueling the growth. Development of biodegradable and polymer free DES in order to increase patient compliance is expected to drive the market over the coming years.
Key suggestions from the report:
- In terms of revenue, the DES dominated the product segment as of 2019. New product launches and technological advancements in 2nd gen DES are acting as the driving factor for this segment
- Prices for the first-generation BVS (Bioresorbable Vascular Scaffold) are much high as compared to existing BMS (Bare Metal Stent) and DES. Due to its safety concern and high hospitalization rates, doctors are not preferring BRS over DES. Moreover, high crossing profile and bulky struts are factors majorly impeding the BRS market
- Asia Pacific is expected to exhibit the highest growth rate over the forecast period. Increase in disposable income and growing incidence of heart diseases will fuel market growth in the coming years
- Some of the key companies present in the coronary stent market are Medtronic, Abbott, Boston Scientific, Terumo Corporation, Biotronik, and Microport Corporation
- With USD 2.3 billion R&D expenditure in 2018, Abbott is anticipated to provide with technologically advanced second generation DES and may be BVS in near future.
Read 110 page research report with ToC on "Coronary Stents Market Size, Share & Trends Analysis Report By Product (Bare Metal Stents, Drug Eluting Stents, Bioresorbable Vascular Scaffold), By Region (North America, Europe, APAC, Latin America, MEA), And Segment Forecasts, 2020 - 2027'' at: https://www.grandviewresearch.com/industry-analysis/coronary-stents-industry
The coronary stent market is driven by reimbursement coverage provided by the general public Center for Medicare and Medicaid Services (CMS) and private payers. The coverage is availed under national coverage determination for carotid artery stenting, including products and service provider. From January 2020, Centers for Medicare & Medicaid Services (CMS) proposed reimbursement for some angioplasty and stenting procedures performed in ambulatory surgical center (ASC), which is expected to boost market revenue over the forecast period.
Grand View Research has segmented the global coronary stent market based on product and region:
- Coronary Stents Product Outlook (Revenue, USD Million, 2016 - 2027)
- Bare Metal Stents (BMS)
- Drug Eluting Stents (DES)
- Bioresorbable Vascular Scaffold (BVS)
- Coronary Stents Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
Find more research reports on Medical Devices Industry, by Grand View Research:
- Lung Stent Market – The lung stent market is expected to witness lucrative growth over the forecast period owing to the increasing demand for MIS (Minimally Invasive Surgeries) for the treatment of chronic conditions including lung cancer, glaucoma etc.
- Bioresorbable Coronary Stents Market – The global bioresorbable Coronary stents market size was estimated at USD 69 million in 2016, which is anticipated to grow at a CAGR of 15% during the forecast period.
- Non-vascular Stents Market – The global non-vascular stents market size was valued at USD 916.1 million in 2016 and is expected to grow at a CAGR of 5.1% during the forecast period.
Gain access to Grand View Compass, our BI enabled intuitive market research database of 10,000+ reports
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Corporate Sales Specialist, USA
Grand View Research, Inc.
Toll Free: 1-888-202-9519
Follow Us: LinkedIn | Twitter
SOURCE Grand View Research, Inc.