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Coronary Stents Market to Reach US$ 1,303.5 Mn by 2023, with a CAGR of 13.2%

sachin sadgir
Coronary Stents Market to Reach US$ 1,303.5 Mn by 2023, with a CAGR of 13.2%

Market Overview:

The global Coronary Stents Market is estimated to be valued at US$ 1,303.5 Mn in 2023 and is expected to exhibit a CAGR of 13.2% over the forecast period 2023-2030, according to a new report by Coherent Market Insights. Coronary stents are small, metallic mesh tubes placed in narrowed or blocked coronary arteries to restore normal blood flow to the heart. These medical devices offer several advantages, including improving blood circulation, reducing symptoms of chest pain, and preventing heart attack. The increasing prevalence of coronary artery diseases, growing aging population, and technological advancements in stent designs are driving the demand for coronary stents globally.

Market Key Trends:

One key trend in the coronary stents market is the rising adoption of biodegradable stents. Biodegradable stents, also known as bioresorbable vascular scaffolds (BVS), are made from materials that dissolve over time, reducing the risk of complications associated with permanent stents. These stents offer several advantages, such as eliminating the need for long-term antiplatelet medication, reducing the risks of thrombosis and inflammation, and allowing for the natural restoration of blood vessels. As a result, the demand for biodegradable stents is increasing among patients and healthcare providers, driving the overall growth of the coronary stents market.

Segment Analysis:

The Coronary Stents Market can be segmented based on type, material, end user, and region. In terms of type, drug-eluting stents (DES) dominate the market due to their ability to release drugs that prevent restenosis and promote faster healing. Drug-eluting stents are preferred over bare-metal stents and bioresorbable stents due to their superior clinical outcomes. The DES segment is expected to witness the highest growth during the forecast period.

Based on material, the metallic stents segment dominates the market. Metallic stents, such as stainless steel and cobalt-chromium, offer better radial strength and flexibility compared to polymer-based stents. Metallic stents are widely used due to their proven efficacy and long-term durability.

In terms of end user, hospitals and cardiac centers are the key segments. The majority of coronary stent procedures are performed in hospitals, which have the necessary infrastructure and skilled healthcare professionals. Additionally, rising cases of cardiovascular diseases and advancements in healthcare facilities contribute to the dominance of hospitals as the preferred end user segment.

Key Takeaways:

The global coronary stents market is expected to witness high growth, exhibiting a CAGR of 13.2% over the forecast period (2023-2030). The market size for 2023 is estimated to be US$ 1,303.5 million. The increasing prevalence of cardiovascular diseases, along with the growing geriatric population, is driving the demand for coronary stents globally. Technological advancements in stent designs, such as drug-eluting stents, are further contributing to market growth.

In terms of regional analysis, North America is the fastest-growing and dominating region in the coronary stents market. This can be attributed to the high prevalence of cardiovascular diseases in the region, along with the presence of well-established healthcare infrastructure. North America is also witnessing significant investments in research and development for the development of novel stent technologies.

Key players operating in the coronary stents market include Abbott Laboratories, Medtronic, Inc, Biosensors Inc, Terumo Corporation, Boston Scientific Inc., Dickinson and Company, Cook medicals, B Braun Melsungen AG, SLTL Medical, Endocare, Cardiac Care Products, Invent Bio-med Private Limited, Nano therapeutics pvt ltd, and MIV therapeutics. These key players are focusing on strategic collaborations, product launches, and mergers and acquisitions to expand their market presence and gain a competitive edge.

Read More : https://www.dailyprbulletin.com/coronary-stents-market-increasing-prevalence-of-cardiovascular-diseases-to-drive-market-growth/

sachin sadgir
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