Albany, NY, Feb. 08, 2016 (GLOBE NEWSWIRE) -- A report published by Transparency Market Research (TMR) pegs the value of the global coronary stents market at US$7.4 bn in 2012. Although the market witnessed a slight dip in its overall value in 2013, when it reached US$6 bn, by 2019, analysts expect the market to reach US$8.3 bn. If the figures hold true, the global coronary stents market will exhibit a CAGR of 6.60% between 2013 and 2019. The TMR report presents a holistic overview of the prevailing dynamics and future prospects of the global coronary stents market.
The market is forecast to exhibit a strong growth pattern throughout the forecast period. The report segments the coronary stents market into bio-based stents, bare metal stents, and drug-eluting stents (DES). Of these, the DES segment holds the lion’s share of the market. The DES segment accounted for 55%-60% of the overall market in 2010. Drug-eluting stents are used in noninvasive procedures, which is why the segment at present is witnessing a high degree of penetration in the most lucrative regional markets within the global coronary stents market.
Browse Industry Research on Coronary Stents Market:
Citing the growth demonstrated by the DES segment, a lead TMR analyst said, “The leading segment in the global coronary stents market, DES, is forecast to reach US$5.3 bn by 2019, exhibiting an impressive 9.54% CAGR during the report’s forecast period.” He further added, “Increasing demand for noninvasive procedure in developed regions gives an impetus to the demand for DES.”
Furthermore, the report highlights that the drug-eluting stents segment in the U.S. will demonstrate a CAGR of 9.0% between 2013 and 2019, while in the Asia-Pacific region the segment will exhibit a CAGR of 10.0% during the same period. Europe and Rest of the World, according to the report, will witness a 3.1% CAGR for the DES segment. With the introduction of drug-eluting stents, the use of bare metal stents in more invasive procedures has rapidly declined. Until 2010, the segment of bare metal stents accounted for 40%-45% of the overall coronary stents market. However, till 2019, the segment will rapidly lose its share in the market and exhibit sluggish growth at a 2% CAGR.
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As the geriatric population worldwide grows, the demand for coronary stents is expected to increase. Prevalence of sedentary lifestyles and unhealthy food choices aggravates the prevalence of obesity and heart diseases around the world. This is a key factor fuelling the demand from the global coronary stents market.
Major Key Players:
The report also profiles major players of the global coronary stents market based on various attributes such as company overview, financial overview, product portfolio, business strategies and recent developments. The major players profiled in this report include Abbott Laboratories, Inc., Boston Scientific Corporation, Medtronic, Inc., Johnson & Johnson, Terumo Corporation, B. Braun Melsungen AG, and C. R. Bard, Inc., Cook Medical, Inc., AMG International GmbH, Biotronik SE & Co. KG, Stentys SA and MicroPort Scientific Corporation.
The global coronary stents market is segmented as follows:
Coronary Stents Market, by Product Type
- Bare Metal Stents
- Drug Eluting Stents
- Bio-absorbable Stents
Coronary Stents Market, by Geography
- North America
- Rest of the World (RoW)
Other Industry Reports by TMR:
Cardiac Prosthetic Devices Market: http://www.transparencymarketresearch.com/cardiac-prosthetic-market.html
Artificial Vital Organs and Medical Bionics Market: http://www.transparencymarketresearch.com/artificial-vital-organs-medical-bionics.html
Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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Source:Transparency Market Research