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(Health-NewsWire.Net, April 10, 2020 ) Market Overview
Global Coronary Stents Market is expected to grow at a CAGR of 7.90% during the forecast period 2019-2026.
Stents are small expandable mesh tubes that are inserted to keep clogged arteries open after a balloon angioplasty procedure.
This is a minimally invasive procedure to restore proper blood flow through the heart. The stent is inserted during, or immediately, after balloon angioplasty, which prevents the artery from closing up again. Coronary artery stents, typically a metal framework, can be placed inside the artery.
Coronary stents are used in a procedure called percutaneous coronary intervention (PCI). Coronary stents are now used in more than 90% of PCI procedures. Stents reduce angina (chest pain) and improve survivability and decrease adverse events in acute myocardial infarction.
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Market Dynamics
Rising incidences of heart diseases are one of the major factor driving the growth of global coronary stents market.
According to the National Center for Chronic Disease, around 610,000 people die of heart disease in the United States every year.
According to the World Health Organization (WHO), Cardiovascular Disease causes an estimated 17 million deaths each year worldwide, accounting for one-third of all deaths worldwide.
According to WHO, coronary heart disease is now the leading cause of death worldwide. An estimated 3.8 million men and 3.4 million women die each year from coronary heart disease.
In Europe coronary heart disease accounts for an estimated 1.95 million deaths each year. In the United Kingdom, 1.3 million people have angina, and an estimated 330 000 people have a heart attack each year.
Segmentation Analysis
The global coronary stents are segmented on product type, which includes bare-metal stents, drug-eluting stents, bioabsorbable stents. Drug-eluting are tents holds the dominant market share in 2018, and it is expected to remain dominant over the forecast period, due to the increasing launches and approval of drug-eluting stents by the regulatory bodies.
For instance, in March 2017, Medtronic plc has received U.S. Food and Drug Administration (FDA) approval and U.S. launch of the Resolute Onyx Drug-Eluting Stent (DES). The Resolute Onyx DES is the first and only DES to feature Core Wire Technology.
In May 2018, Abbott Laboratory has received U.S. Food and Drug Administration (FDA) approval for XIENCE Sierra. XIENCE stents are among the worlds most-used and studied stents and have an exceptional safety record with low rates of complications. Design and technology advances in this generation of XIENCE include features specifically designed for the treatment of complex blockages that now account for up to 70% of cases.
In January 2018, BIOTRONIK received approval for its Orsiro1 coronary drug-eluting stent (Orsiro DES) from the Japanese Ministry of Health.
In September 2018, Terumo Corporation introduced its Ultimaster Tensei drug-eluting stent (DES) in Japan market. Ultimaster Tensei DES allows physicians to reach and treat complex anatomies both with radial and femoral access with confidence based on the results of a comprehensive clinical program of Ultimaster DES.
Geographical Share
North America was dominating the coronary stents market in 2018, and it is expected to remain dominant over the forecast period, due to rising incidences of heart diseases in this region.
According to the National Center for Chronic Disease, around 610,000 people die of heart disease in the United States every year.
Moreover, the increasing launches and approval of coronary stents by the regulatory bodies is the key factor driving the North America coronary stents market.
For instance, in September 2018, Boston Scientific has received U.S. Food and Drug Administration (FDA) premarket approval for its Eluvia Drug-Eluting Vascular Stent System, specially developed for the treatment of peripheral artery disease (PAD).
In September 2018, Cook Medical introduced its new 5 mm diameter version of Zilver PTX was approved by the FDA.
It is the first 5 mm drug-eluting stent in the U.S. with lengths available up to 140 mm that is indicated to treat vessels as small as 4mm in diameter, to treat patients with lesions in their superficial femoral arteries (SFA).
In November 2017, Cordis, a Cardinal Health company, and Medinol received U.S Food and Drug Administration (FDA) approval for EluNIR drug-eluting stent (DES) for the treatment of patients with narrowing or blockages to their coronary arteries.
Competitive Trends
The new product launch and approval of coronary stents by the regulatory bodies is one of the critical factor driving the global coronary stents market.
For instance, in February 2017, Cook has extended its Zilver PTX product portfolio with a 140mm drug-eluting stent. Physicians will now be able to treat longer lesions with just one stent, which is deployed via a thumbwheel delivery system.
In May 2018, B. Braun Interventional Systems Inc. (BIS) in collaboration with NuMED Inc., has announced the U.S. Food and Drug Administration pre-market approval and U.S. commercial launch of an expanded size offering and a new indication for the Cheatham-Platinum (CP) Stent portfolio.
Moreover, the increasing competitive strategies between companies for increasing their market share for coronary stents is one of the critical factor driving the global coronary stents market.
For instance, in May 2016, Cordis, Cardinal Health entered into a distribution agreement with Biosensors that enables Cordis, Cardinal Healths interventional vascular business, to sell the coronary stent portfolio of Singapore-based Biosensors International Group, Ltd. to the selected countries in Europe, the Middle East, Africa, Australia, and New Zealand.
In June 2018, Cook Medical partnered with Taewoong Medical to distribute a selection of stents into the U.S. The new partnership includes the Niti-S Self-Expandable line of metal GI stents. Cook Medical has begun the distribution of Taewoong portfolio on November 1, 2018.
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