Increasing incidence of cardiovascular diseases worldwide is creating growth opportunities for the global “cardiovascular stents market”, predicts Fortune Business Insights in their new study. The study is titled, “Cardiovascular Stents Market: Global Market Analysis, Insights and Forecasts, 2018 – 2025”. As per Fortune Business Insights, the market is prognosticated to exhibit 6.6% CAGR and reach a valuation of US$ 13,100.2 Mn by 2025 from US$ 7,838.9 Mn in 2017.
In terms of stent type, the drug eluting stents segment is expected to hold a larger share of the market, hence booking the dominant position. This dominance is attributable to key companies introducing next-generation drugs for drug eluting systems (DES), and is likely to continue in the coming years.
With respect to end users, the hospitals segment holds dominance in the global market as it registers the highest consumption of cardiovascular stents.
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Increasing Number of Cardiovascular Cases to Fuel Demand in Market
In 2017, coronary stents surgery was the most common treatment among cardiovascular patients with a market share of 66.9%. The rising number of cardiovascular diseases worldwide is expected to drive the global market, as per analysts at Fortune Business Insights.
Besides this, huge investments made by market players in research and development on environmental and decomposable coronary stents is also anticipated to boost the market.
Unhealthy lifestyle and irregular eating habits of people have led to have increased the prevalence of health-related concerns, including chronic diseases such as diabetes, obesity, and heart disorders. The surging cases of heart disorder is continuously fueling the demand for treating heart problems including angioplasty, which ultimately increased the demand for cardiovascular stents.
However, the market may face challenges due to the presence of alternative treatment methods for vascular diseases. Again, the complexity of cardiovascular stent implantation may cause patients to opt for other treatment options and this may restrict growth in the market. Besides this, incident of product recalls and failures may also hamper the market in future.
Nevertheless, the emerging markets for cardiovascular stents and their rapid accent is likely to boost growth opportunities for the market in the long run. Again, the development of bioresorbable stents will help the cardiovascular stents market to grow remarkably in the future.
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Alpine Stent to Open Growth Opportunities for Market in Asia Pacific
The cardiovascular stents market in North America was emerged dominant and was valued at US$ 2,344.9 Mn in 2017. This is mainly due to the presence of better medical facilities and skilled professionals in the developed nations of Canada and the U.S. North America is likely to remain dominant in the coming years as well on account of ongoing clinical trials on novel stents in the U.S. and various regulatory approvals on cardiovascular stents.
The market for cardiovascular stents in Asia Pacific is likely to show growth at a higher rate on account of improved distribution of cardiovascular stents in emerging economies such as China and India. In order to improve their accessibility, price capping of stents is introduced in these developing nations and this will help the market gain momentum. Thus, Asia Pacific is likely to register itself as the fastest growing region in the during the forecast tenure.
Various companies operating in the global cardiovascular stents market are B. Braun Melsungen AG, Cardinal Health, C. R. Bard, Inc., Terumo Corporation, MicroPort Scientific Corporation, Biotronik SE & Co. KG, and others. Major vendors are focusing on investing in clinical studies and research and development of better stents. At present, Boston Scientific Corporation, Abbott, and Medtronic, are leading the market.