Coronary Stents Market expected to surpass US$ 11.32 Bn in Revenues by 2026
Future Market Insights provides an in-depth analysis of the global coronary stents market in a new report titled "Coronary Stents Market: Global Industry Analysis and Opportunity Assessment, 2016-2026". Coronary stents is a billion dollars industry that occupies a significant market share in the cardiovascular market. In terms of revenue, the global coronary stents market is estimated to reach a market valuation of US$ 6,002.9 Mn by 2016 end and is expected to register a CAGR of 6.6% during the forecast period. The global coronary stents market is expected to represent incremental opportunity of US$ 5,318.7 Mn between 2016 and 2026.
According to Future Market Insights, factors such as an increase in the prevalence of coronary artery disease, obesity, and minimal invasive procedures; and an increasing preference for advanced stenting procedures by cardiologists are some of the factors fuelling the growth of the global coronary stents market. Economic factors such as an increase in awareness campaigns about cardiovascular diseases conducted by government bodies, rapid progress in medical technology, and extended reimbursement support are also expected to boost the growth of the global coronary stents market over the forecast period.
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Segmentation highlights
The global coronary stents market is segmented on the basis of Product Type (Drug Eluting Stent, Bare Metal Stent, Bioresorbable Vascular Stent); Raw Material (Cobalt Chromium, Stainless Steel, Platinum-Chromium, Nickel-Titanium, Polymer); and End Use (Hospitals, Ambulatory Surgical Centres, Cardiac Catheterisation Laboratories).
The Drug Eluting Stent product type segment is estimated to be valued at US$ 8,750.2 Mn by 2026. The Bioresorbable Vascular Stent segment is estimated to account for 11.0% revenue share by 2016 end
The Polymer raw material segment is estimated to account for the highest market share of 29.2% by the end of 2016. The Cobalt Chromium segment is expected to register a CAGR of 5.6% during the forecast period
The Hospitals end use segment is anticipated to account for 70.9% value share of the global coronary stents market by the end of 2016. The Cardiac Catheterisation Laboratories segment is estimated to be valued at US$ 2,526.8 Mn by the end of 2026, registering a CAGR of 8.0% over the forecast period
Regional projections
The global coronary stents market is segmented on the basis of region into North America, Latin America, Western Europe, Eastern Europe, APEJ, MEA, and Japan. The APEJ market is estimated to be valued at US$ 4,165.2 Mn by 2026, exhibiting a CAGR of 8% during the forecast period. The North America coronary stents market is expected to dominate the global coronary stents market in terms of revenue by 2016 end and is likely to retain its dominance throughout the forecast period. The coronary stents market in North America is estimated to account for 29.2% market share of the global coronary stents market by 2016 end. The North America region is likely to be the second most attractive market with an attractiveness index of 2.5 during the forecast period. The markets in North America, Western Europe, and APEJ represent the highest growth opportunities in the global coronary stents market owing to a large patient population and an increasing demand for coronary stents in these regions.
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Vendor insights
The global coronary stents market report profiles some of the top companies operating in the market. Leading market players featured in the report include Terumo Corporation, Boston Scientific Corporation, Medtronic, Vascular Concepts, B. Braun Melsungen AG, Biotronik SE & Co. KG, Abbott Laboratories, Biosensors International Group, Ltd., Hexacath, and Stentys SA. Key market players are focussing on increasing their footprints in emerging markets such as Asia Pacific and are expanding their manufacturing facilities and distribution network to gain a larger share of the global coronary stents market.