According to the new market research report by Industry ARC titled “Stents Market: By Product Type, By Material and By Geography Analysis - Forecast 2019 - 2024,” the market is driven by new technological advancements and collaboration strategies adopted by key players globally.
The Asia Pacific (APAC) region holds the major share in Stents Market
The APAC region is estimated to dominate the market with a larger market share due to the ease of doing business, sizable population, fast-growing economic development, and swift adoption of the latest technologies. Several Chinese companies in the stents market have been striving to work on innovative stent products with a good amount of R&D spending. There have been various technological developments for drug-eluting stents which were successfully launched in China. The middle-aged population in India is also considerably large which acts as a major driver for the stents market. It is estimated that the APAC region will grow with a CAGR of 8.13%.
Selected/Sample Analysis done in full report
By Product Type, Carotid will witness the highest growth owing to new technologies and R&D has shown progress to improve the outcomes of carotid artery stenting. The promotional activities, increasing the reimbursement rates can help the market to reach high penetration rates. Neurovascular Stent production and consumption will also witness growth due to the increase in neurological disease. Further, R&D and advanced product launches will transform the neurovascular market in a positive manner.
By Materials, Polymers are in great demand owing to its widespread applications in cardiology, particularly in coronary vascular intervention as stent platforms and coating matrices for drug-eluting stents.
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Excerpts on Market Growth Factors
- Based on the product type, Carotid market share is expected to dominate due to its application in various stenting.
- A few key players such as Medtronic Plc. is focusing on bringing building a strong, competitive pipeline of consumer-led, science-based innovation in the field of stents.
- The increase in consumption of cholesterol-rich products and favorable government policies such as price control and reimbursement will spur demand for coronary stents in upcoming years.
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Key players of the Stents Market
Abbott Laboratories., a Chicago based company which operates in more than 60 countries offers various types of product such as XIENCE V, XIENCE nano, XIENCE PRIME,XIENCE Xpedition and others.
The major competitors in this market are Medtronic Plc, B.Braun Melsungen AG, Boston Scientific Corporation, Cook Medical and many more.
The Stents Market is segmented as below:
Stents Market is done on various categories depending upon type of product, material and various regions.
A. Stents Market - By Product Type
B. Stents Market - By Material
C. Stents Market - By geography
1.5 Rest of Americas
2.6 Rest of Europe
3.4 South Korea
3.6 Rest of APAC
4. Rest of the World (RoW)
4.1 Middle East
D. Stents Market - Market Entropy
E. Companies cited/Interviewed
1. Abbott Laboratories
2. B.Braun Melsungen AG
3. BIOTRONIK SE & Co. KG
4. Boston Scientific Corporation
5. C.R Bard incorporated
6. Cook Medical Incorporated
7. Elixir Medical Corporation
8. Medtronic Plc.
10. Terumo Medical Corporation
1. Cardiac Implant Market
2. Vascular Access Device Market
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