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.
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.
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Further key
findings from the report suggest:
- 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.
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Grand View Research has segmented
the global coronary stent market on the basis of product and region:
Coronary Stents
Product Outlook (Revenue, USD Million, 2016 - 2027)
- Bare Metal Stents (BMS)
- Drug Eluting Stents (DES)
- Biodegradable
- Non-Biodegradable
- Bioresorbable Vascular
Scaffold (BVS)
Coronary Stents
Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Asia Pacific
- Japan
- China
- India
- South Korea
- Australia
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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