Published By : 25 Apr 2016 | Published By : QYRESEARCH
Coronary stents are displaying a surging demand over the past few years. Predominantly, it is the hectic and unhealthy lifestyle due to which the incidence of coronary artery disorders is increasing around the world. This is intensified by rising obesity and an increasing geriatric population base globally.
Percutaneous coronary intervention (PCI), commonly referred to as angioplasty, has been recognized as the most effective treatment line for coronary artery diseases. The procedure involves placing coronary stents in arteries to keep them open. With the continuous increase in the number of angioplasty procedures, the demand for stents is on the rise.
North America represents the largest market for coronary stents in terms of revenue. The presence of top-notch product manufacturers in the U.S. is the primary factor attributed for the lead position of this regional market. Due to this, products are first introduced in the U.S., which extends an early-bird advantage to the North America coronary stents market, propelling the market significantly.
Europe stands as the second-largest market for coronary stents followed by Asia Pacific. However, in the next few years, the Asia Pacific coronary stents market will display the fastest growth rate amongst all the regional markets. The increasing incidence of coronary artery disorders, increasing awareness about treatment for these diseases and overall increase in healthcare expenditures, and untapped market in developing nations for coronary artery diseases are some of the reasons that will fuel growth of this regional market in the years to come.
Bioabsorbable stents, drug-eluting stents (DES), and bare metal stents are the three major type of stents that are available worldwide. Of all, presently, DES registers the highest demand. However, bioabsorbable stents are expected to present the highest growth opportunities for market participants in the next few years. It is the efficiency that they exhibit while restoring blood flow is adding significantly to their popularity.