The widespread demand for coronary stents is primarily driven by their marked efficacy and safety in treating coronary heart diseases world over.
The widespread demand for coronary stents is primarily driven by their marked efficacy and safety in treating coronary heart diseases world over. Several manufacturers involved in the development of new and innovative stents and platforms in various developing and developed countries is a noteworthy factor aiding in the rapid evolution of the global coronary stents market. The rising population suffering from cardiovascular diseases (CVD) is favorably contributing to the demand for coronary stents.
A new report penned by TMR Research, titled, “Coronary Stents Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017–2025”, is an in-depth research on the current and future dynamics of the coronary stents market. The study strives to offer elaborate assessment of key drivers and restraints, notable trends, promising prospects, technological advances, and the strategic dynamics.
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The rising number of clinical research organizations (CROs) making evaluations on the comfort and safety of coronary stents is leading to product developments. This is a notable factor catalyzing the growth of the market. The significant role occupied by CROs in product approvals has been instrumental in accelerating market approvals of stents in developing and developed regions. This augurs well for the market. Furthermore, the rising number of collaborations with regulatory agencies in developed countries is a significant factor aiding in the swift expansion of the market. There is a rising demand for coronary stents in patients with CVD for reducing the chances of heart attacks.
Some of the key types of stents can be drug-eluting stents, bare metal stent, and bioresorbable stent.
The rising use of stents by patients who are undergoing angioplasty procedures is a critical factor accentuating the growth of the market. The fast recovery of patients who have undergone these procedures with the use of stents along with the less discomfort caused to them is a notable trend contributing to the rapid uptake over the assessment period. The widespread popularity of drug-eluting stents (DES) in clinical practice for the treatment of a range of cardiovascular diseases. This is attributed to their benefit in preventing artery narrowing by reducing the tissue growth is a notable factor boosting the market.
However, the rare but devastating complication associated with the use of coronary stents is a critical concern expected to cripple the demand to an extent. Nevertheless, over the years design innovations and advancements in stent technologies are factors anticipated to allay these concerns. In addition, the higher recovery rate in patients of coronary stents than those undergoing coronary artery bypass surgery also bodes well for the market.
A number of companies are actively focused on establishing the efficacy of their products. For instance, efforts to improve long-term safety of drug-eluting stents is positively impacting the growth of the market.
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Regionally, the Americas is a lucrative market rising at a prominent pace over the assessment period. The presence of a robust medical infrastructure in countries of North America such as the U.S. and Canada and the rapid technological advancements in stents account for attractive revenues contributed by the region.
The coronary stents market is likely to be fairly competitive and diversified, owing to the presence of a copious number of regional as well as international players. Several leading vendors are increasingly focused to develop technologically advanced devices in order to gain a competitive edge over others. A number of manufacturers are adopting innovative pricing strategies, to gain a better foothold in the coronary stents market. They also opt for strategic mergers and acquisitions and entering into partnerships to fortify their distribution chains, in a move to consolidate their shares.
Key players vying for a significant share in the market include Terumo Corporation, Medtronic PLC, Stentys SA, Translumina GmbH, Meril Life Sciences Pvt. Ltd., Microport Scientific Corporation, B. Braun Melsungen AG, Biotronik SE & Co. Kg, Ltd., Boston Scientific Corporation, and Abbott Laboratories.
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