According to the most recent coronary stents market analysis, the development of the industry is driven by the increasing instances of cardiovascular disease or CVDs around the globe. Furthermore, the increase in the instances of CADs or coronary artery diseases, as well as the increase in the cases of obesity and relevant health problems, is also generating expansion opportunities for the coronary stents market. On the other hand, dearth of favorable reimbursement policies in certain geographical regions, as well as the high cost associated with the products in the coronary stents market may hinder the expansion of the coronary stents market in near future.
Some of the key factors, motivating the coronary stents market growth include the rapid advancements in coronary stents technologies, increasing need for effective treatment and management of CAD, and increasing focus on clinical trials and medical device approvals by the industry leaders and manufacturers. However, the process of getting new medical devices approved is long and streneous. The presence fo strict regulatory approval processes is anticipated to restrain the growth within the coronary stents market in the coming years.
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North America Coronary Stents Market to Witness Significant Growth in Near Future
The geographical segmentation of the coronary stents market can inform us regarding the performance of every individual region in the coronary stents market, including Latin America, Asia Pacific, North America, Europe, and Middle East and Africa. The largest coronary stents market size is anticipated to be captured by the leading region of North America. The most dominant factor responsible for this highest positioning of the North America coronary stents market is the prevalence of CVDs as one of the major mortality causes, accounting for one of three deaths in the United States. Furthermore, the increasing instances of restenosis post the surgical procedure of angioplasty, also triggers an increased demand for drug-eluting, as well as bio-absorbable stents in the North America. This trend is also anticipated to augment the growth of the coronary stents market in this region.
The demand within the North America coronary stents market is further bolstered by the increasing regional geriatric population, unhealthy life choices, featuring mostly sedentary lifestyles, and increased consumption of fast and unhealthy foods that lead to obesity, and the emergence and rapid adoption of advanced and novel healthcare technologies. Additionally, the rising demand from regional economies, such as China, as well as Japan, is also expected to offer attractive expansion opportunities for the players in the Asia Pacific coronary stents market in the near future.
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Rising Demand for Drug-Eluting Stents Favors Expasnion of Coronary Stents Market
Some of the major types of products offered by the leading players in the coronary stents market include bio-absorbable stents, drug eluting stents, and bare metal stents. The highest coronary stents market share can be attributed to th drug eluting stents. This trend can be attributed to the rising risk of thrombosis, experienced by the patients post ceasing of their anti-platlet therapy. Furtehrmore, the advancements in manufacturing technologies, and the rising utilization of these drug eluting stents in the treatment of CADs is also expected to bolster the demand within the coronary stents market in the coming years.
A few of the leading and dominant manufacturers and players operational in the coronary stents market include Boston Scientific Corporation, Johnson & Johnson, B. Braun Melsungen AG, Cook Medical, Inc., Biotronik SE & CO. KG, Microport Scientifiic Corporation, Abbott Laboratories, Inc., Medtronic Inc., Terumo Corporation, C. R. Bard Inc., AMG International GmbH, and Stentys S. A., among others. Some of the most prominent corporate growth and expansion strategies employed by these leaders in the coronary stents market include launching of new and technologically advanced products and solutions, gaining regulatory approvals, collaborative agreements, and acquisitions. For instance, Orsiro Mission Bioabsorbable Polymer Drug Eluting Stent System by Biotronik was approved by the United States FDA in September of 2021.