Coronary Stents Market Is Estimated To Witness High Growth Owing To Rising Prevalence of Cardiovascular Diseases

Coronary Stents Market

The global Coronary Stents Market is estimated to be valued at US$ 1,303.5 Mn in 2023 and is expected to exhibit a CAGR of 13.2% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.


Market Overview:
Coronary stents are small expandable tubes inserted into narrowed or blocked arteries to prop them open and improve blood flow to the heart. These stents are used to treat coronary artery disease, a condition that occurs when the blood vessels supplying blood to the heart become blocked or narrowed due to the buildup of plaque. The advantages of coronary stents include relieving symptoms of angina, reducing the risk of heart attack, and improving heart function.

Market Key Trends:
One key trend in the coronary stents market is the shift towards bioresorbable stents. These stents are designed to slowly dissolve in the body over time, eliminating the need for long-term placement and potentially reducing the risk of complications associated with permanent stents. Bioresorbable stents are made from materials that are gradually absorbed by the body, allowing the artery to return to its natural state. This trend is driven by the growing preference for minimally invasive procedures and the need for personalized treatment options.

Overall, the Coronary Stents Market stents market is expected to witness high growth due to the rising prevalence of cardiovascular diseases and the increasing adoption of advanced treatment options. The shift towards bioresorbable stents is a significant trend that is expected to drive market growth in the coming years.

PEST Analysis:

Political: The political landscape plays a significant role in the coronary stents market. Government regulations, such as pricing controls and reimbursement policies, can impact the market. Additionally, political stability and geopolitical factors can influence the manufacturing and distribution of coronary stents.

Economic: The economic factors that affect the coronary stents market encompass the overall economic health and growth of the countries. Affordability and disposable income of individuals, healthcare expenditure, and healthcare infrastructure development are significant considerations in this market.

Social: Social factors including changing demographics, lifestyle habits, and awareness about cardiovascular diseases affect the coronary stents market. Lifestyle changes, such as unhealthy eating habits and sedentary lifestyles, can contribute to increasing incidence of heart diseases, thereby driving the demand for coronary stents.

Technological: Technological advancements, such as the development of bioresorbable stents and drug-eluting stents, play a crucial role in the coronary stents market. Innovations in materials, manufacturing techniques, and incorporation of advanced drug delivery systems enhance the efficacy and safety of these stents.

Key Takeaways:

The global coronary stents market is expected to witness high growth, exhibiting a CAGR of 13.2% over the forecast period of 2023-2030. The increasing prevalence of cardiovascular diseases, coupled with the growing geriatric population, is driving the demand for coronary stents. Additionally, advancements in technology and the development of innovative stenting devices further fuel market growth.

In terms of regional analysis, North America is anticipated to be the fastest-growing and dominating region in the coronary stents market. The presence of a well-established healthcare infrastructure, high healthcare expenditure, and a large patient population contribute to the significant market share of North America. Furthermore, increasing adoption of advanced stent technologies in the region propels market growth.

Key players operating in the coronary stents market include Abbott Laboratories, Medtronic, Inc., Biosensors Inc., Terumo Corporation, Boston Scientific Inc., Dickinson and Company, Cook Medicals, B Braun Melsungen AG, SLTL Medical, Endocare, Cardiac Care Products, Invent Bio-med Private Limited, Nano therapeutics pvt ltd, and MIV therapeutics. These players invest in research and development activities, strategic collaborations, and mergers and acquisitions to gain a competitive edge in the market.

Overall, the coronary stents market is poised for significant growth due to factors such as increasing prevalence of cardiovascular diseases, technological advancements, and favorable reimbursement policies. The key players in the market are expected to capitalize on these opportunities to expand their market presence and gain a competitive advantage.

Read More : https://www.marketwebjournal.com/coronary-stents-market-is-estimated-to-witness-high-growth/

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