The global coronary stents market has viewed its individual share of ups and downs. Loyola Medicine is the first hospital in Chicago to offer an innovative bioabsorabable stent that is absorbed by the body once it has completed its function. The FDA, of late, sanctioned Absorb, the first absorbable cardiac stent. The Absorb stent stays put till the artery has cured and is no more in risk of failing. The stent slowly breaks down into water and carbon dioxide. Three years later the stent is entirely dissolved. The vessel stays open on its own, without any support.
The growth of second generation drug eluting stents (DES) enhanced the safety and effectiveness of these stents over their first generation equivalents. This steered to a high market infiltration rate of DES, which in turn led to a waning in the acceptance of bare metal stents (BMS). Largely, the global coronary stents market was priced at $7,451.1 million in 2012 and is estimated to rise to $13,858.0 million by 2019 intensifying at a CAGR of 9.5% during the period from 2013 to 2019.
The key drivers of the market comprise growing geriatric population and increased occurrence of heart failures and coronary disorders such as gall bladder cancer, esophageal cancer, and other aberrations. Additionally, technical progressions in stent systems, such as advent of bioabsorbable stents, have powered the market growth. Nonstop developments in healthcare insurance and compensation are likely to boost the growth of the stents market in the emerging and immature economies. Nevertheless, expensive cost of these stents in the emerging economies is one of the foremost limiting factors of the market.
The coronary stents market has a massive prospective with the existence of many players developing ground-breaking technologies. The intensifying occurrence of various coronary artery diseases is after the growth of the global coronary stents market. Snowballing developments in the field of interventional cardiology in addition to the development of minimally invasive techniques have suggestively stretched the prospective of healing applications of stents. Other factors enhancing the market include lifestyle alterations resultant in obesity and other health anomalies.
The global coronary stents market is controlled by numerous factors like lack of compensation policies in some countries and high price of these stents. In addition, problems rising in case of stent restenosis or thrombosis are also an obstacle for market players. Alternatively, innovative technologies in clinical trials are anticipated to address the unmet requirements of the markets in developing economies.
North America is the biggest market for Bioabsorbable Stents. In North America, US epitomize the largest market for Absorbable Stents owing to the alarming rate of cardiovascular diseases. Asia region is projected to have more growth rate in forthcoming years because of growing cognizance about Bioabsorbable Stents in this region. In Asia region China, Japan, and India are estimated to have more growth rate for Absorbable Stents.
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