Coronary Stents Market
Coronary Stents Market (Bare Metal Stents, Drug Eluting Stents and Bio-absorbable Stents) - Global Industry Analysis, Size, Share, Pipeline Overview, Growth, Trends and Forecast, 2013 - 2019
Global Coronary Stents Market – Overview
Innovative business strategies mark the global coronary stents market landscape and will lead the market to a valuation of USD 8.3 bn. by the year 2019. Another reason that underscores growth in the global coronary stents market in a big way is increase in incidence of cardiovascular diseases due a number of reasons such as lifestyle choices – smoking, drinking, lack of exercise, and poor diet incorporating too much oil and salt.
Over the forecast period of 2013 to 2019, the global coronary stents market is set to chart a Compound Annual Growth Rate (CAGR) of 6.6%. New avenues of growth will open up for market players over this period.
Factors that keep the global coronary stents market buoyant and shape the way it operates in the future are outlined below:
- CVD is taking away 17.9 million lives on an annual basis. Four out of 5 deaths taken by it are a result of a heart attack. As people across the board age rapidly, more so in North America and Europe, the reported cases would see an upward curve, helping the global coronary stents market grow at a swiftly. By the year 2050, 2 billion people would be old. That means that many people will be aged 60 or above. By this fact, the magnitude of the issue can be gauged.
- Increasing awareness regarding stents and increase in disposable income is also contributing to the growth of global coronary stents market over the forecast period. In the Asia Pacific region, certain developing nations are doing extremely well on the economic front, creating gainful opportunities for the global coronary stents market players. Besides, this will also lead to significant growth in the global coronary stents market.
Global Coronary Stents Market: Snapshot
The primary growth driver for the global coronary stents market is the increasing prevalence of cardiovascular diseases. With an increasing population of older citizens across the world, especially in the established economies, the global coronary stents market is poised to find major lucrative opportunities across the world. Some of the other factors that drive the development of the global coronary stents market are rapidly changing lifestyles, generic disorders such as obesity that are on the rise due to these rapidly evolving lifestyles, and technological advancements of next generation bio-absorbable stents. According to a report from World Health Organization, it has been predicted that each year till 2030, over 23.3 million people will die because of cardiovascular diseases. Coronary artery disease (CAD) is chief reason responsible for the highest amount of death due to cardiovascular diseases across the globe. However, the number of casualties because of CAD has been on the lower side because of the growing number of percutaneous coronary interventions (PCIs) being performed by making use of a wide range of coronary stents, and thus driving the growth of the overall market.
The global market for coronary stents is expected to reach an overall valuation of US$8.292 bn by the end of the given forecast period of 2013 to 2019. The global market is expected to reach this valuation with the help of a steady CAGR of 6.6% over the course of the given forecast period. The market is projected to show a continuous and similar growth patterns in the coming years if the market drivers and demand remains at a steady level.
Bare Metal Stents to be overshadowed by Bio-absorbent Stents Due to Increase in Demand
The global market for coronary stents can be broadly segmented into three classes namely, drug eluting stents (DES), bio-absorbent stents, and bare metal stents (BMS). In the last few years, the global coronary stents market was largely dominated by drug eluting stents segment. This segment was then followed by the segment of bare metal stents (BMS). Over the course of the given forecast period of 2013 to 2019, the requirement for bare metal stents is projected to be low and the overall growth of the segment is expected to slow down due to increasing demand for stents of the other remaining segments, chiefly from bio-absorbent stents. The segment of bio-absorbent stents of the global market is expected to be the fastest growing segment over the aforementioned forecast period.
Asia Pacific to Show Promising Growth Owing to Increasing Penetration by Overseas Companies
Geographically, the global market for coronary stents can be segmented into key regions such as North America, Asia Pacific, Europe, and Rest of the World. Among the mentioned regions, North America holds the biggest share in the global market for coronary stents. The chief reason for the dominance of this region because it playing home to some of the top companies in the global market. The Europe market followed the growth shown by market in North America. Asia Pacific is expected to show promising growth in the global coronary stents market owing to growing awareness, easy affordability, and growing penetration by the Europe and the U.S. based companies.
Some of the key players in the global coronary stents market include names such as Bitronik SE & Co., Johnson & Johnson, B. Barun Melsungen AG., and Boston Scientific Corporation, among others.
This report studies the current as well as future prospects of the coronary stents market globally. At present, there are several individuals around the world who require percutaneous coronary interventions (PCIs) due some form of coronary artery diseases (CADs), such as angina pectoris and acute myocardial infarction, regardless of their gender, age or geographic location. There are various types of coronary stents currently available worldwide, which are utilized during PCIs for treating CADs. Coronary stents are tubular structures, which are majorly made of thin mesh of metal wires, and many a time covered with a biodegradable material that contains the drug. However, at present whole stents that are made of a biodegradable material that wholly gets absorbed in the tissues over time are also available in the global market. This report comprises an elaborate executive summary, which includes a market snapshot that provides overall information of various segments and sub-segments that are contained in the report. It also provides an overall information and data analysis of the global coronary stents market with respect to market segments based on product type as well as geographic regions.
The market for coronary stents is categorized into three major segments, namely, bare metal stents (BMS), drug eluting stents (DES) and bio-absorbable stents. Each of the market segments has been extensively analyzed based on their commercial existence, efficacy, sales revenue and geographic presence. The market size and forecast in terms of USD million for each product type has been provided for the period 2011 to 2019. The report also provides compounded annual growth rate (CAGR %) for each market segment for the forecast period 2013 to 2019, considering 2012 as the base year.
The global coronary stents market has been further categorized into four geographical regions - North America, Europe, Asia-Pacific, and Rest of the World (RoW). The market sizes and forecasts for each of these regions have been provided for the period 2011 to 2019 along with their respective CAGRs (%) for the forecast period 2013 to 2019, considering 2012 as the base year. The research study also incorporates the competitive scenario in these regions. A detailed qualitative analysis of the market environmental factors responsible for driving and restraining growth of the global coronary stents market and future opportunities have been provided in the market overview section. This section of the report also deals with market attractiveness analysis, Porter’s five forces analysis and key players’ market share analysis in 2012 in order to give a thorough analysis of the overall competitive scenario in the global coronary stents market.
The report also comprises a section on pipeline overview for this market that includes qualitative analysis for various coronary stents currently under phase II, III & IV clinical trials, which are expected to be launched during the forecast period. Some of the major coronary stents, which are in different stages of clinical trials included in this report are CORACTO, EXCELLA II and EXCELLA BD, DESolve Nx and DESolve FIM, ZoMaxx I and ZoMaxx II, ABSORB STEMI, BioFreedom, TAXUS PERSEUS and BioNIR. A list of recommendations has been provided for new entrants as well as existing market players to help them establish a strong presence in the market and increase their share in the global coronary stents market.
The report also profiles major players of the global coronary stents market based on various attributes such as company overview, financial overview, product portfolio, business strategies and recent developments. The major players profiled in this report include Abbott Laboratories, Inc., Boston Scientific Corporation, Medtronic, Inc., Johnson & Johnson, Terumo Corporation, B. Braun Melsungen AG, and C. R. Bard, Inc., Cook Medical, Inc., AMG International GmbH, Biotronik SE & Co. KG, Stentys SA and MicroPort Scientific Corporation.
The global coronary stents market is segmented as follows:
Coronary Stents Market, by Product Type
- Bare Metal Stents
- Drug Eluting Stents
- Bio-absorbable Stents
Coronary Stents Market, by Geography
- North America
- Rest of the World (RoW)