Growing Coronary Stents Market Boosted by Increasing Demand for Noninvasive Procedures, Set to Rise to US$8.3 bn by 201901 Apr 2016
A report published by Transparency Market Research (TMR) pegs the value of the global coronary stents market at US$7.4 bn in 2012. Although the market witnessed a slight dip in its overall value in 2013, when it reached US$6 bn, by 2019, analysts expect the market to reach US$8.3 bn. If the figures hold true, the global coronary stents market will exhibit a CAGR of 6.60% between 2013 and 2019. The TMR report presents a holistic overview of the prevailing dynamics and future prospects of the global coronary stents market. The report is titled “Coronary Stents Market - Global Industry Analysis, Size, Share, Pipeline Overview, Growth, Trends and Forecast, 2013 - 2019” and is available on the company website for sale.
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The market is forecast to exhibit a strong growth pattern throughout the forecast period. The report segments the coronary stents market into biobased stents, bare metal stents, and drug eluting stents (DES). Of these, the DES segment holds the lion’s share of the market. The DES segment accounted for 55%-60% of the overall market in 2010. Drug eluting stents are used in noninvasive procedures, which is why the segment at present is witnessing a high degree of penetration in the most lucrative regional markets within the global coronary stents market.
Citing the growth demonstrated by the DES segment, a lead TMR analyst said, “The leading segment in the global coronary stents market, DES, is forecast to reach US$5.3 bn by 2019, exhibiting an impressive 9.54% CAGR during the report’s forecast period.” He further added, “Increasing demand for noninvasive procedure in developed regions gives an impetus to the demand for DES.”
Furthermore, the report highlights that the drug eluting stents segment in the U.S. will demonstrate a CAGR of 9.0% between 2013 and 2019, while in the Asia Pacific region the segment will exhibit a CAGR of 10.0% during the same period. Europe and Rest of the World, according to the report, will witness a 3.1% CAGR for the DES segment. With the introduction of drug eluting stents, the use of bare metal stents in more invasive procedures has rapidly declined. Until 2010, the segment of bare metal stents accounted for 40%-45% of the overall coronary stents market. However, till 2019, the segment will rapidly lose its share in the market and exhibit sluggish growth at a 2% CAGR.
The report states that the global coronary stents market gains momentum from the increasing prevalence of cardiovascular diseases. As the geriatric population worldwide grows, the demand for coronary stents is expected to increase. Prevalence of sedentary lifestyles and unhealthy food choices aggravates the prevalence of obesity and heart diseases around the world. This is a key factor fuelling the demand from the global coronary stents market.
The global coronary stents market is segmented as follows:
Coronary Stents Market, by Product Type
Bare Metal Stents
Drug Eluting Stents
Coronary Stents Market, by Geography
Rest of the World (RoW)
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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