New York – December 20, 2017 – Axiom Market Research & Consulting added a report on Global Coronary Stents Market, By Type, Delivery Mode, Material, End User and Geography Forecasts Upto 2024. The global market for stents accounted for USD 7.54 billion in 2017 and is estimated to grow at a CAGR of 7.7% during the forecast period 2019 to 2024.
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By type, the global coronary stents market is segmented into bare-metal stents, drug-eluting stents and bioabsorbable stents. On the basis of mode of delivery, the market is segmented into balloon-expandable stents and self-expanding stents. The market is also segmented based on material such as metallic, cobalt, platinum, nickel titanium, stainless steel and others. The major end users of coronary stents covered in the report are hospitals, cardiac centers and ambulatory surgical centers. Among various types of stents, drug-eluted stents accounted for major share in the global coronary stents market in 2017 and this segment is further expected to remain dominant in the near future expanding at a CAGR of 8.1% from 2019 to 2024. Other application segments are also expected to showcase significant growth thereby boosting the demand for coronary stents over the forecast period from 2019 to 2024.
The global coronary stents market is led by manufacturers such as Medtronic plc, Abbott Laboratories, Boston Scientific Corporation, Biosensors International Group, Ltd, Biotronik, B. Braun Melsungen AG, Terumo Corporation, Stentys SA, MicroPort Scientific Corporation, Meril Life Sciences Pvt. Ltd., Vascular Concepts, Translumina GmbH among others.
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Stent helps in preventing the heart attacks which are caused by narrowing of the coronary arteries. Stent is a small tube made up of stainless steel or cobalt alloy, tube that is attached onto small balloons. It acts as a support to reinstate blood flow and support the vessel wall. Methods for the treatment of coronary heart disease includes pharmaceuticals, balloon angioplasty, stenting and coronary artery bypass grafting. Stenting is considered as more comfortable for heart patients as compared to the bypass heart surgery. Stenting does not involve any major operation as it can be performed with the help of local anesthesia and low sedation.
Increasing incidences of cardiovascular disorders have led to the increase in demand for coronary stents. The growth of the market is also majorly driven by increasing use of coronary stents in hospitals and growing trend of unhealthy lifestyle. Other factors driving the growth of this market include rise in complimentary repayment policies, an increase in the healthcare expenditure, growing medical tourism in developing nations, technological innovations and increasing governmental focus to provide improved healthcare facilities.
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