Coronary stents market analysis
According to coronary stents market opportunity analysis, the global coronary stents market is anticipated to grow at a steady rate and post a CAGR of close to 6% during the forecast period. The evaluation of the safety and efficacy of coronary stents by clinical research organizations (CROs) using clinical trials will drive the growth prospects for the global coronary stents market until the end of 2021. It has been observed that these organizations increasingly help manufacturers in the development of these devices.
Moreover, these organizations minimize the duration of regulatory approvals by engaging in tie-ups with regulatory agencies for pre- and post-market approvals of stents. Various companies conducted their research activities with Clinical Research Institute, Center for Cardiovascular Diseases, Rotenburg an der Fulda, Germany, for the paclitaxel-eluting Corofle DES (PECOPS II) followed by a six-month clinical and angiographic study and a further one-year clinical study in 2016.
Coronary stents market forecast based on geography
In terms of geography, the Americas accounted for the majority market share during 2016 and will continue to dominate the market for the next four years. The medical facilities in the region use technologically advanced coronary stent procedures such as DES, bare-metal stents (BMS), and bioresorbable stents that provide better efficacy and safer treatment for cardiac patients and minimize hospital stays.
Coronary stents market growth: Competitive landscape and key vendors
The global coronary stents market is highly competitive and diversified due to the presence of a large number of regional and international vendors across the globe. These vendors are increasingly competing against each other based on factors such as technological advancements like nano-coated stents, product differentiation, and product pricing. Moreover, several vendors are increasingly focusing on research and developmental activities, combined clinical studies, distribution partnerships, mergers and acquisitions, and technological innovations to extend their product portfolios. The global manufacturers rely heavily on advanced technology, high-quality products, and their brand /image to increase their revenue shares.
Key vendors in the coronary stents market
- Abbott Laboratories
- Boston Scientific
- Medtronic
Coronary stents market segmentation by product type
- DES
- BMS
- Bioresorbable stent
The drug-eluting stents (DES) segment accounted for the majority market share during 2016 and will continue to dominate the market for the next four years. One of the major factors that will fuel the growth of the market segment includes the increasing number of people suffering from cardiovascular diseases (CVD). The increasing efforts taken by companies to prove the efficacy of their products using clinical studies such as the trial of drug-eluting stents vs. bare metal stents to treat coronary artery stenosis (NORSTENT) by the Research Council of Norway, the Royal Norwegian Ministry of Health, and the Norwegian Council on Cardiovascular Diseases, will also fuel the coronary stents market revenue.
Coronary stents market segmentation by end-user
- ASCs
- Hospitals
- Physicians’ offices
The ASCs segment accounted for the majority market share during 2016 and will continue to dominate the market during the forecasted period. Some of the factors contributing growth in the market segment include the minimization of medical expenses and the duration of hospital stays and the availability of a wide range of medical services and surgical and non-surgical procedures in outpatient settings. Furthermore, since they have advanced operating equipment, specialist surgeons, and operating and recovery rooms without complex administrative procedures, ASCs is gaining traction in the market.
Key questions answered in the report include
- What will the coronary stents market size and the growth rate be in 2021?
- What are the key factors driving the global coronary stents market?
- What are the key coronary stents market trends impacting the growth of the market?
- What are the challenges to market growth?
- Who are the key vendors in the global coronary stents market?
- What are the market opportunities and threats faced by the vendors in the global coronary stents market?
- What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
- What are the key outcomes of the five forces analysis of the global coronary stents market?
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Table of Contents
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
- Market overview
- Market size and forecast
- Five forces analysis
PART 06: Market segmentation by products
- DES
- Bioresorbable stents
- BMS
PART 07: Market segmentation by end-user
- ASCs
- Hospitals
- Physicians' offices
PART 08: Geographical segmentation
- Coronary stents market in Americas
- Coronary stents market in EMEA
- Coronary stents market in APAC
PART 09: Decision framework
PART 10: Drivers and challenges
- Market drivers
- Impact of drivers on key customer segments
- Market challenges
- Impact of challenges on key customer segments
PART 11: Market trends
- Growing adoption of hybrid procedure
- Increasing partnerships and collaboration activities
- Emergence of digital catheterization laboratories in hospitals
PART 12: Vendor landscape
- Competitive landscape analysis
PART 13: Key vendor analysis
- Abbott Laboratories
- Boston Scientific
- Medtronic
- Key companies to watch
- Other prominent vendors
PART 14: Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases
DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts
REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape