According to the report by Allied Market Research, titled, “Coronary Stents Market by Product (Drug-eluting Stent, Bare-metal Stent, and Bioabsorbable Vascular Stent), Biomaterials {Metallic (Cobalt Chromium, Platinum Chromium, Nickel Chromium, and Stainless Steel), Polymeric, and Natural Biomaterials), End User (Hospital & Clinic and Ambulatory Surgical Centers) – Global Opportunity Analysis and Industry Forecast, 2014-2022″. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
The global market was valued at $4,806 million in 2015, and is projected to reach at $9,003 million by 2022, growing at a CAGR of 9.5% from 2016 to 2022. The drug-eluting stents (DES) segment accounted for nearly half of the total market in 2015.
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Coronary stents are small elastic tubes used for the treatment of narrowed and blocked coronary arteries in patients with coronary artery disease (CAD). These reduce the symptoms of chest pain (angina) and aid in the treatment of a heart attack. These types of stents are also called as heart stents or cardiac stents. They comprise metal mesh and are implanted in constricted coronary arteries during a technique known as percutaneous coronary intervention (PCI) or angioplasty.
The metallic biomaterials segment dominated with three-fourths of the market, in 2015, owing to cost-effectiveness of these materials. Metallic biomaterials provide efficacy of vascular healing as compared to other materials. These are used to manufacture expandable and drug-eluting stents. The global metallic biomaterials market segment is expected to grow at a CAGR of 9.5%.
Rise in incidence of CAD and rapid adoption of coronary stents for the treatment drive the growth of the coronary stents market in LAMEA. However, due to low gross income in countries, such as Latin America, there are less expenditures on the development of new methods and devices for the treatment of CAD. Lack of healthcare facilities and increased need for treatment devices for CAD have increased the penetration of major players in the Middle East region. Nevertheless, the market growth is driven by improvements in healthcare infrastructure and rise in disposable income. Regionally, Saudi Arabia country in LAMEA region showcased the highest CAGR in 2015.
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The key players operating in the global coronary stents market include Abbott Laboratories, B. Braun Melsungen AG, Boston Scientific Corporation, C. R. Bard, Inc., Microport Scientific Corporation, Terumo Corporation, Medtronic plc., Biotronik SE & Co. KG, Biosensors International Group, Ltd., and Stentys SA.
Key Findings of the Coronary Stents Market Study:
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About Allied Market Research: Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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