Cobalt-Chromium Stent: Introduction

  • Stent is a medical device that can provide scaffolding to organ walls and vessels to keep arteries open
  • Stent is a tube-like, flexible, and small device. Stent is either made from polymer or metal.
  • Stents are made-up of metals such as cobalt chromium, stainless steel, and nitinol
  • Nowadays, cobalt-chromium is being used as stent material as it triggers activation of coagulation, platelets, endothelial cell dysfunction, and leukocytes
  • Patients with peripheral artery disease and coronary artery diseases are receiving percutaneous coronary interventions with stent implantation for the treatment of the disease. However, stent thrombosis remains the major issue because of its adverse consequences.
  • Advantages offered by cobalt chromium, such as strength, non-ferromagnetism, biocompatibility, and high resistance to corrosion and fatigue are expected to increase the usage of cobalt-chromium for making the stents to use in the treatment of cardiovascular diseases

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Key Drivers of Global Cobalt-Chromium Stent Market

  • Increase in number of people with cardiovascular diseases is expected to drive the global cobalt-chromium stent market during the forecast period
  • Cardiovascular diseases (CVDs) are listed as a major cause of mortality across the world. According to the American Heart Association, approximately 46% i.e. 116.4 million of U.S. adults were suffering from hypertension in 2017. An estimated 840,768 deaths occurred due to cardiovascular diseases in the U.S. in 2016. The total annual cost of cardiovascular diseases in the U.S. was estimated to be about US$ 351.2 Bn in 2014–2015, with US$ 213.8 Bn direct cost, including 46% for inpatient care.
  • Occurrence of restenosis after angioplasty procedure boosts the adoption of novel stents such as drug-eluting stents which are known to drastically reduce the frequency of restenosis
  • This is expected to drive the global cobalt-chromium stent market during the forecast period

Coronary Artery Stents Segment to Dominate Global Cobalt-chromium Stent Market

  • Based on type, the global cobalt-chromium stent market can be divided into coronary artery stents and peripheral vascular stents
  • The coronary artery stents segment is anticipated to dominate the global cobalt-chromium stent market during the forecast period
  • Dominance of the segment is owing to rise in prevalence of coronary artery diseases across the globe
  • According to the National Heart Foundation of Australia, coronary heart disease is a leading cause of deaths in Australia, affecting 1.2 million people each year. According to the European Heart Network, CVD causes 3.9 million deaths in Europe each year.

Hospitals Segment to Offer Attractive Opportunities

  • In terms of end-user, the global cobalt-chromium stent market can be classified into hospitals, cardiac centers, and ambulatory surgical centers
  • The hospitals segment is expected to account for major share of the global cobalt-chromium stent market by 2027
  • The significant share held by the hospitals segment can be primarily attributed to increase in number of balloon angioplasty procedures or percutaneous transluminal coronary angioplasty (PTCA) which utilize stents to reduce restenosis, and the need to repeat the procedure in hospitals

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North America to Dominate Global Cobalt-Chromium Stent Market

  • In terms of region, the global cobalt-chromium stent market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to dominate the global cobalt-chromium stent market during the forecast period.
  • Factors such as rise in number of people living with cardiovascular diseases in countries such as the U.S. who need the treatment options such as percutaneous coronary intervention (PCI) and balloon angioplasty procedures, are expected to drive the cobalt-chromium stent market in the region during the forecast period
  • Additionally, increase in demand for less invasive procedures is expected to drive the cobalt-chromium stent market in the region

Key Players Operating in Global Cobalt-Chromium Stent Market

The global cobalt-chromium stent market is consolidated with the presence of few international players taking up the major share of the global cobalt-chromium stent market. Key players operating in the global cobalt-chromium stent market are:

  • BIOTRONIK AG
  • Abbott
  • Cordis Corporation
  • Medtronic
  • Boston Scientific Corporation
  • Biosensors International Group, Ltd
  • Cook Medical
  • Alvimedica
  • Insitu Technologies

Global Cobalt-Chromium Stent Market: Research Scope

Global Cobalt-Chromium Stent Market, by Product Type

  • Coronary Artery Stents
  • Peripheral Vascular Stents

Global Cobalt-Chromium Stent Market, by End-user

  • Hospitals
  • Cardiac Centers
  • Ambulatory Surgical Centers

Global Cobalt-Chromium Stent Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia & New Zealand
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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