The coronary stent market is expected to reach USD 15.2 billion by 2024, according to the new report by Grand View Research, Inc. Increasing burden of cardiovascular diseases (CVDs), including coronary artery diseases, are anticipated to boost the usage of coronary stents.
According to the World Health Organization, CVDs contribute to the maximum number of deaths globally. In 2012, approximately 17.5 million deaths were reported from CVDs, representing 31% of the global death statistics. Of the 17.5 million deaths reported, 7.4 million were due to coronary heart disease and 6.7 million were due to stroke.
Individuals above 60 years of age form the key target population for these products. This demographic is characterized with low immunity levels and is prone to chronic diseases, including CVDs, which thereby serves as a high impact rendering driver for the growth of this industry over the forecast period. As a result, the latest treatments available in cardiac care are expected to increase the life span of the elderly population subset.
The coronary stent market is driven by reimbursement coverage provided by the Center for Medicare & Medicaid Services and private payers. The coverage is availed under national coverage scheme, which covers the product as well as the surgical procedure. The providers require completing certain conditions for coverage-all facilities performing CAS procedures should be certified by CMS.
View summary of this report @ http://www.grandviewresearch.com/industry-analysis/coronary-stents-industry
Further Key Findings From the Study Suggest:
·
The coronary stent market is segmented on the
basis of products: Bare Metal Stents, Drug Eluting Stents (DES), and
Bioresorbable Vascular Scaffold (BVS).
·
DES held a lucrative share in 2015, which
includes biodegradable and nonbiodegradable stents. Associated benefits such as
avoidance of complications, ease of procedures, and comfort to the patient are
responsible for the increased usage rates.
·
BVS is anticipated to be on forefront over the
forecast period. With launch of first ever BVS in 2016, these products are
likely to grow swiftly over the forecast period. BVS has added advantages of
restoring vasomotor function, expanding future treatment options, and helping
avoid future complications from occurring in permanent devices.
·
North America, especially the U.S., with its
sophisticated healthcare system, well-planned reimbursement program, high
healthcare expenditure, and large pool of target population held a substantial
share in global coronary stents market.
·
Asia Pacific is anticipated to exhibit lucrative
growth over the forecast period. Economic developments and government reforms,
especially in countries like India and China, are supporting growth of this
region. For instance, in India, the introduction of Goods and Services Tax
(GST), a comprehensive tax system that avoids cascading tax effects, is helping
both consumers and manufacturers save tax. This is anticipated to improve ease of
doing business. Such initiatives open investment opportunities for market
players in this region.
·
Some key players in the market include Abbott;
Boston Scientific Corporation; Medtronic; B. Braun Melsungen AG; Terumo
Corporation; Biotronik SE & Co. KG: Stentys SA; MicroPort Scientific
Corporation; C. R. Bard, Inc.; and Cook Medical.
·
The market is oligopolistic in nature with few
players at the top having similar share. However, recent activities by leading
market players are opening avenues for emerging players in this vertical. For
instance, loss of market share by Johnson and Johnson’s product “Cypher” and
discontinuation of its drug-eluting stent “Nevo” helped other players increase
market penetration.
Browse
more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/medical-devices
Grand View Research has segmented the coronary stent market on the basis of
product and region:Global Coronary Stents Product Outlook (Revenue, USD Million, 2013 - 2024)
·
Bare Metal Stents (BMS)
·
Drug Eluting Stents
o
Biodegradable
o
Non-Biodegradable
·
Bioabsorbable Vascular Scaffold (BVS)
Coronary Stents Regional Outlook (Revenue, USD Million, 2013 - 2024)
·
North America
o
U.S.
o
Canada
·
Europe
o
UK
o
Germany
·
Asia Pacific
o
Japan
o
China
·
Latin America
o
Brazil
o
Mexico
·
MEA
o
South Africa
For press release of this report - http://www.grandviewresearch.com/press-release/global-coronary-stent-industry
About Grand View
Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
Contact:
Sherry
James
Corporate
Sales Specialist, U.S.A.
Grand
View Research, Inc.
United
States
Phone: 1-415-349-0058
Toll
Free: 1-888-202-9519
Email: sales@grandviewresearch.com
No comments:
Post a Comment