Major factors driving the growth of this market include technological advancements, increasing demand for minimally invasive procedures, and rising geriatric population, increasing number of percutaneous coronary intervention (PCI) procedures, rising burden of CAD. Moreover, development of bioresorbable vascular scaffold (BVS) and expansion in emerging markets provide significant growth opportunities in the market provide significant growth opportunities in the market.
According to the research report the Coronary Stents Market is expected to reach $10.31 billion by 2021, at a CAGR of 7.6%.
In July 2016, Abbott (US) received US FDA approval to commercially launch its Absorb bioresorbable heart stent. The coronary stents market is witnessing a new phase of technological developments, with the launch of fully dissolving stents. Absorb is the only fully dissolving stent approved for the treatment of CAD. Moreover, researchers have also developed dual-therapy stents and bioengineered stents for the treatment of CAD. Innovations in stenting technology, in terms of material, construction, and coatings play a major role in increasing the effectiveness of stents and expanding their application areas.
The drug-eluting stents segment is expected to account for the largest share of the coronary stents market in 2016. Based on type, the market is segmented into bare-metal stents, drug-eluting stents and bioabsorbable stents. This can primarily be attributed to the advantages of drug-eluting stents over bare-metal stents, such as lower risk of restenosis and other related complications.
The balloon expandable stents segment is expected to grow at the highest CAGR during the forecast period due to factors such as increasing research activities to improve this technology, high utilization of these stents, and growing regulatory approvals for balloon-expandable stents.Based on mode of delivery, the Coronary Stents Market is segmented into balloon-expandable stents and self-expanding stents.
The Coronary Stents Market is a highly fragmented market, with several big and emerging players. Key market players include Medtronic, plc (Ireland), Abbott Laboratories (U.S.), Terumo Corporation (Japan), BIOTRONIK SE & Co. KG (Germany), B. Braun Melsungen AG (Germany), STENTYS SA (France), Boston Scientific Corporation (U.S.), Biosensors International Group, Ltd. (Singapore), MicroPort Scientific Corporation (China), Meril Life Sciences Pvt. Ltd. (India), Vascular Concepts (India), and Translumina GmbH (Germany).
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