NEW YORK, May 08, 2019 (GLOBE NEWSWIRE) -- The global coronary stent market is expected to grow from USD 7,756 million in 2018 to USD 13,907 million in 2025, at a CAGR of 8.7% from 2019 to 2025. The growth in the market is attributed to the increasing prevalence of coronary artery diseases and heart valve disorders, and technological advancement in coronary stents. Moreover, growing demand for drug-eluting stents and biodegradable polymer-coated coronary stents, favorable reimbursement policies, and growing government support and new product launches are further propelling the industry growth. However, high cost associated with advance coronary stents may hamper the market growth to some extent.
Coronary stent is tube-shaped device, which is introduced into coronary arteries that are blocked due to an underlying atherosclerosis disease. Coronary stent is used to open narrowed arteries and reduce symptoms such as heart attack or chest pain.
Key findings from the report:
High prevalence of heart diseases to drive the coronary stents market
Coronary artery diseases are caused by plaque, which is buildup in the wall of the arteries that supply blood to the heart and other parts of the body. Plaque buildup causes the inside of the arteries to narrow over time, resulting in partially or totally blocked blood flow. In these cases, a stent is placed in an artery as a part of percutaneous coronary intervention. Heart disease has been leading cause of death across the world. Therefore, the demand for medical devices for treatment of heart disease is expected to increase. Moreover, growing research and development activities, and new product launches are further anticipated to foster the market demand over the forecast period.
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Coronary Stents Market – Regional insight
Geographically, North America held the largest share of the market in 2018. The growth in the region is attributed to the increasing prevalence of coronary arteries diseases, favorable reimbursement scenario, and technological advancements in coronary stents. Moreover, growing preference for minimally invasive surgeries, and increasing government initiatives to support new product approvals are further augmenting the market growth in the region. The growth of coronary stent market in Europe is primarily due to increasing number of new product launches, and growing demand for drug-eluting stents. Asia-Pacific is expected to witness the highest CAGR during 2019-2025, due to growing number of percutaneous coronary intervention procedures performed in the region.
This report segments global coronary stent market based on product type, material, mode of delivery, end-user and region.
By Product Type
By Material
By Mode of Delivery
By End-user
By Region
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