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Cardiac Stent Market Growth Prospects, Size, Regional Analysis and Forecast 2027

Market Summary: The comprehensive analysis of the Global Cardiac Stent Market and assessment of market trends to project outcomes from 2020 to 2027 are encompassed in this study. The historical years for the study are 2017 and 2018, with 2019 serving as the base year. This examination provides readers with an in-depth understanding of the market size, share, trends, and growth prospects within the cardiac stent industry for both the present and future years.
Introduction to the Cardiac Stent Market: A stent is a device crucial in preventing heart attacks resulting from the narrowing of coronary arteries. Composed mainly of stainless steel or cobalt alloy, it is a small tube with attached balloons that act as support, restoring blood flow and aiding the vessel wall. Stenting, a less invasive alternative to bypass surgery, is preferred by heart patients for its symptom-reducing effects on chest pain. Commonly referred to as cardiac stents, these metal mesh structures are implanted in coronary arteries through angioplasty, a procedure performed under local anesthesia and without major surgery.
Key Report Coverage: This report provides qualitative and quantitative assessments of the Cardiac Stent Market, including detailed analysis of market share, size, and growth rate across all segments. It also observes and predicts a growing trend in industry penetration over the years. Region and country-wise assessments, market share analysis of key industry players, market forecasts for segments and regional markets, and analysis of market trends, drivers, constraints, threats, opportunities, and challenges are included. Strategic recommendations based on market estimations for important business segments and competitive landscape mapping of key trends are also provided.
Market Dynamics: The global cardiac stent market, valued at USD XX billion in 2017, is anticipated to witness a significant compound annual growth rate of 6% through the forecast period. Key drivers of market growth include the prominence of cardiac artery diseases, a rising geriatric population, technological innovations, increased demand for minimally invasive surgeries, reduced post-operative trauma, shorter hospital stays, and quicker healing times.
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Challenges include addressing the complexity of vasculatures in small vessels of cardiac patients and the hurdle of out-of-pocket payments for the majority of stent procedures. The high cost of advanced cardiac stents remains a persistent concern.
Regional Outlook: North America holds the largest market share for cardiac stents, driven by factors such as a growing geriatric population, increased prevalence of heart diseases, and technological advancements. In Asia Pacific, the market is expected to reach USD XX billion by 2027, with a robust annual growth rate of 7.9%, fueled by increased healthcare sector expenditure and heightened awareness among heart patients. The Indian coronary stent industry is projected to grow at a CAGR of XX% during the forecast period.
Competitive Landscape: Major companies in the market adopt strategies like mergers, acquisitions, and alliances to maintain a competitive edge. Emphasis is also placed on technological advancements to produce more accurate and efficient products.
Major Players:
• Abbott Laboratories
• Boston Scientific Corp
• Bio-Sensors International Market, Ltd.
• Braun Medical Inc.
• BIOTRONIK
Key Developments:
• Medtronic has introduced the Resolute Onyx 2.0 mm Drug-Eluting Stent.
• SMT, based in India, has introduced the DES system called the Supralimus Grace, featuring a fourth-generation design.
Market Segmentation: By Type:
• Coronary Stenting
• Peripheral Stenting
By Application Type:
• Drug-Eluting Stents
• Bio-resorbable Stents
• Bare Metal Stents
• Others
By Region:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Market Participants:
• Medtronic PLC
• Abbott Laboratories
• Boston Scientific Corp
• Bio-Sensors International Market, Ltd.
• Terumo Corp
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