The global coronary stents market size is projected to reach USD 8.08 billion by the end of 2027. High investment in technological intervention has opened up a huge potential for market growth. According to a report published by Fortune Business Insights, titled “Coronary Stents Market Size, Share and Global Trend by Deployment (Self and Balloon-expandable), Stent Type (Drug Eluting Stent, Bioresorbable Stent, Bare Metal Stent, Covered Stent and Others), End User (Hospitals, Ambulatory Surgical Centers, Specialty Clinics, Catheterization Labs) and Geography Forecast till 2027,” the market was worth USD 5.91 billion in 2019 and will exhibit a CAGR of 6.7% during the forecast period, 2020-2027.
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Coronary stents are small a metal mesh that that are mostly used in PCI (Percutaneous Coronary Intervention) procedures. These products are widely used in surgical procedures associated with the treatment of coronary heart diseases. They ability of coronary stents to stabilize surgical procedures and minimize the side effects associated with these surgeries will lead to a wider product adoption. Technological advancements in these products have helped improve surgical procedures and subsequently increase the success rate. The increasing adoption of coronary stents across the world will have a direct impact on the growth of the overall market in the coming years. In addition to these factors, the cost-effectivity of the product has contributed to the growing adoption. The presence of several health reimbursement policies will constitute an increase in the overall market size in the foreseeable future.
North America to Emerge Dominant; Increasing Prevalence of Heart Diseases to Aid Growth
The report analyses the ongoing market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the market in North America is projected to emerge dominant in the coming years. The high prevalence of coronary heart diseases across the United States will aid the growth of the regional market. The presence of several large scale manufacturers will also contribute to market growth. The increasing investment in product R&D by major companies will emerge in favor of market growth. The increasing adoption of coronary stents in hospitals and surgical centers will create several opportunities for market growth. As of 2019, the market in North America was worth USD 2.35 billion and this value is projected to increase further in the coming years. The market in Asia Pacific is expected to exhibit the highest CAGR in the coming years owing to the adoption of sedentary lifestyle habits.
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List of companies profiled in the report:
- Biotronik SE & Co. KG
- C. R. Bard, Inc.
- MicroPort Scientific Corporation
- Terumo Corporation
- B. Braun Melsungen AG
- Boston Scientific Corporation
- Other players
September 2018: BIOTRONIK, Inc., announced that it has received U.S.FDA approval for PK PAPYRUS Covered Coronary Stent System. This product is used to seal the perforation so as to stop the blood leakage during surgical procedure and avoid life-threatening complication.
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