Pune, India, Oct 04, 2021 (GLOBE NEWSWIRE) – The global stents market is expected to experience healthy growth owing to the increasing prevalence of coronary heart disease and cardiovascular disease. Key market insights were shared by Fortune Business Insights in its report titled “Stent market size, global share and trend by type (coronary stent, stent, ureteral stent, esophageal stent), by product (dual therapy stents, bioresorbable vascular scaffolds, biotech stents), by material (non-degradable, degradable), by design (coil , helical spiral), by end user (hospitals, specialized clinics) and geographic forecasts until 2026 ”. The report offers a comprehensive analysis of the market and provides key insights into the major factors that will influence the market.
A stent is a small tube, made of plastic or metal. which is placed in a clamped coronary artery to keep it open. It is used in a procedure called angioplasty, which is performed to open blocked arteries and restore blood flow. A stent is placed in the affected artery immediately after angioplasty to keep it open. The tube is coated with medication so that it lasts a long time and prevents the blocked artery from closing.
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Faster recovery rates to boost the market
Stent treatments for coronary heart disease have been proven to have a faster recovery rate than conventional coronary bypass procedures. This bodes well for the global stent market as it will increase the rate of stent adoption. Additionally, stenting treatments are much less invasive than bypass grafts, which can help patients transition to such procedures more easily. In addition to this, there is an increasing prevalence of coronary heart disease. For example, recent figures revealed by the Center for Disease Control and Prevention show that 735,000 Americans are diagnosed with heart disease. This is expected to significantly increase the size of the global stents market during the forecast period.
Multiple benefits to encourage adoption
The global stent market is expected to increase as the growing awareness of the many benefits of stenting will increase adoption rates. For example, stenting can reduce conditions associated with heart disease such as chest pain and fatigue. Plus, stenting even improves kidney function. Thus, the procedure is known to dramatically improve the lives of patients, which bodes well for the global stent market.
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High cost of stents may hamper market growth
Coronary stents cost 6 times more in the United States than in Europe, according to a 2018 study published in Health Affairs. Thus, the high cost of the treatment is expected to negatively impact the global stent market as a large part of the population might not be able to afford the treatment.
In addition, stenting carries some risks. For example, after the procedure is completed and the stent is placed, scar tissue may form inside the stent which would require another surgery. A person can also have an allergic reaction to the stent, which may again require medical attention. These factors may hamper the growth of the global stents market.
North America will occupy a leading position in the market
Among the regions, North America is expected to hold dominance and share of the global stents market during the forecast period. This is due to the growing number of heart disease patients and the presence of important market players investing in the research and development of innovative products. Asia-Pacific is also expected to significantly contribute to the expansion of the global stent market due to the increasing incidence of heart disease and the development of affordable stent treatments, especially in India.
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Increase research and innovation to stimulate competition
Competition in the global stent market is expected to intensify as market players seek to gain a competitive advantage through increased investments in research and the launch of innovative products. For example, in 2017, US-based Elixir Medical Corporation launched Desolve Absorbable Stent, along with the drug-eluting metal stent Dynamix, to continue its innovations in adaptive remodeling.
Some of the major players in the global stent market as identified by Fortune Business Insights include Boston Scientific Corporation, Terumo Corporation, Cardinal Health, Abbott, BD, Biosensors International Group, and a few others.
SECONDARY RESEARCH IS CONDUCTED TO DETERMINE THE FOLLOWING INFORMATION:
- Details such as revenue, market share, strategies, growth rate, products and their pricing by region / country for all major companies
- Details regarding prevalence, incidence, number of patients, distribution of patients, average price of treatment, etc.
- Number of end-user installations by region / country and average annual spend or device purchases by type of end-user installations
- Number of procedures and average price of procedures
- Replacement rate and pricing of capital goods
- Market dynamics versus target market – Drivers, constraints, trends and opportunities
- Market and technology trends, new product developments, product pipeline.
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