Global Coronary Stents Market Opportunities and Forecast 2020-2027
- DLR2231
- 23 September, 2020
- Pharma & Healthcare
- Pages: 120
- Global
Global Coronary Stents Market, By Type (Bare Metal, Drug Eluting, BVS), By Offering (Hardware, Software) By End User (Hospital, ASC, Cardiology Center) opportunities and forecast 2020-2027
Market Overview
A coronary stent is a round shaped tube-like structure. It is placed in the coronary arteries to keep the arteries open during treatment. With the help of latest treatments in cardiac care and coronary heart diseases, it is has become possible to extend the life of geriatric people. Hence growing geriatric population is expected to increase the demand for coronary stents over the forecast period 2018–2025. Moreover, the increasing geriatric population is fueling the growth of the Indian market.
Encouraging reimbursement policies are expected to boost the demand for a coronary stent in the various countries including the U.K, the U.S., and Canada. Moreover, favorable government practices considering the pricing of these medical devices and increasing per capita healthcare expenditure in developing countries such as India and China are projected to drive the growth of the market in the coming years. Apart from this, Bioresorbable Vascular Scaffold (BVS) products are expected to witness significant growth over the forecast period, 2018–2025 due to their widespread applications. The new product sanctions of Magmaris and Magnitude are further anticipated to surge the demand for these products.
The global coronary stents market is highly competitive with top players accounting for similar shares of revenue. These companies have adopted various strategies such as strategic alliances and mergers & acquisitions to gain a competitive advantage in the market. Moreover, companies are putting more efforts on developing technologically advanced products, which can improve better efficiency and accuracy.
Segment Overview
Healthcare industry in India is much diversified and full of opportunities, which include payers, providers, and medical technology. With the increasing competition, manufacturers are looking to discover the latest trends and dynamics, which is expected to have a favorable impact on their business.
Country's competitive advantage also depends on the increased success rate of the local players in getting Abbreviated New Drug Application Approvals (ANDA). The country also offers vast opportunities for medical tourism and R&D activities. Moreover, the Indian market is offering a huge opportunity for investment in infrastructure development in both rural and urban areas.
Regional Overview
According to the American College of Cardiology, the death rate due to cardiovascular diseases in India has increased by 34 percent from 1990 to 2016, i.e., 155.7 to 209.1 deaths per lakh population. Accessibility, inadequate facilities, high price cost of the treatment, and lack of awareness about diseases are some of the key challenges faced by the cardiac care in the country. The demographic projections suggest a key increase in CVD mortality as life expectancy rises and the age structure of the population changes. Apart from, cardiac hospitals in the country perform over 2,00,000 open heart surgeries every year, i.e., one of the highest, worldwide. Furthermore, there has been a firm annual increase of around 25–30 percent per year in the number of cardiac interventions from the past few years.
Competitor overview
A coronary stent is a tiny device used in angioplasty to treat blockages in the heart. Despite of price capping and product withdrawal by some of the major players in 2017, the market has not been witnessing any shortage. Moreover, decline in the distribution of imported stents has benefited the Indian manufacturers and enable them to gain 4 percent of the market share.
Domestic players accounted for around 40 percent of the market share in 2015. However, with the introduction of Make in India and price control over these products, the scenario has changed in 2016 and 2017. Government has capped the pricing of medical devices and prevented overpricing by the hospitals, which were earning more than double the profit.
Key Players
Market Segmentation
By Type
Market Overview
A coronary stent is a round shaped tube-like structure. It is placed in the coronary arteries to keep the arteries open during treatment. With the help of latest treatments in cardiac care and coronary heart diseases, it is has become possible to extend the life of geriatric people. Hence growing geriatric population is expected to increase the demand for coronary stents over the forecast period 2018–2025. Moreover, the increasing geriatric population is fueling the growth of the Indian market.
Encouraging reimbursement policies are expected to boost the demand for a coronary stent in the various countries including the U.K, the U.S., and Canada. Moreover, favorable government practices considering the pricing of these medical devices and increasing per capita healthcare expenditure in developing countries such as India and China are projected to drive the growth of the market in the coming years. Apart from this, Bioresorbable Vascular Scaffold (BVS) products are expected to witness significant growth over the forecast period, 2018–2025 due to their widespread applications. The new product sanctions of Magmaris and Magnitude are further anticipated to surge the demand for these products.
The global coronary stents market is highly competitive with top players accounting for similar shares of revenue. These companies have adopted various strategies such as strategic alliances and mergers & acquisitions to gain a competitive advantage in the market. Moreover, companies are putting more efforts on developing technologically advanced products, which can improve better efficiency and accuracy.
Segment Overview
Healthcare industry in India is much diversified and full of opportunities, which include payers, providers, and medical technology. With the increasing competition, manufacturers are looking to discover the latest trends and dynamics, which is expected to have a favorable impact on their business.
Country's competitive advantage also depends on the increased success rate of the local players in getting Abbreviated New Drug Application Approvals (ANDA). The country also offers vast opportunities for medical tourism and R&D activities. Moreover, the Indian market is offering a huge opportunity for investment in infrastructure development in both rural and urban areas.
Regional Overview
According to the American College of Cardiology, the death rate due to cardiovascular diseases in India has increased by 34 percent from 1990 to 2016, i.e., 155.7 to 209.1 deaths per lakh population. Accessibility, inadequate facilities, high price cost of the treatment, and lack of awareness about diseases are some of the key challenges faced by the cardiac care in the country. The demographic projections suggest a key increase in CVD mortality as life expectancy rises and the age structure of the population changes. Apart from, cardiac hospitals in the country perform over 2,00,000 open heart surgeries every year, i.e., one of the highest, worldwide. Furthermore, there has been a firm annual increase of around 25–30 percent per year in the number of cardiac interventions from the past few years.
Competitor overview
A coronary stent is a tiny device used in angioplasty to treat blockages in the heart. Despite of price capping and product withdrawal by some of the major players in 2017, the market has not been witnessing any shortage. Moreover, decline in the distribution of imported stents has benefited the Indian manufacturers and enable them to gain 4 percent of the market share.
Domestic players accounted for around 40 percent of the market share in 2015. However, with the introduction of Make in India and price control over these products, the scenario has changed in 2016 and 2017. Government has capped the pricing of medical devices and prevented overpricing by the hospitals, which were earning more than double the profit.
Key Players
- Abbott Laboratory
- Translumina
- SMT
- GE Healthcare
- Meril Life Sciences Pvt. Ltd.
- Vascular Concepts
- Boston Scientific Corporation
- Medtronic, plc
Market Segmentation
By Type
- BMS
- BVS
- Drug Eluting
- Hospitals
- Cardiac Centres
- ASC
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- UAE
- Rest of LAMEA
1 Coronary Stents Market Overview
- 1.1 Product Overview and Scope of Coronary Stents
- 1.2 Coronary Stents Segment by Type
- 1.2.1 Global Coronary Stents Sales Growth Rate Comparison by Type (2021-2026)
- 1.2.2 Bare-metal Stent (BMS)
- 1.2.3 Drug-eluting Stent (DES)
- 1.2.4 Bioresorbable Vascular Scaffold (BVS)
- 1.3 Coronary Stents Segment by Application
- 1.3.1 Coronary Stents Sales Comparison by Application: 2020 VS 2026
- 1.3.2 ASCs
- 1.3.3 Hospitals
- 1.3.4 Cardiology Center
- 1.4 Global Coronary Stents Market Size Estimates and Forecasts
- 1.4.1 Global Coronary Stents Revenue 2015-2026
- 1.4.2 Global Coronary Stents Sales 2015-2026
- 1.4.3 Coronary Stents Market Size by Region: 2020 Versus 2026
2 Global Coronary Stents Market Competition by Manufacturers
- 2.1 Global Coronary Stents Sales Market Share by Manufacturers (2015-2020)
- 2.2 Global Coronary Stents Revenue Share by Manufacturers (2015-2020)
- 2.3 Global Coronary Stents Average Price by Manufacturers (2015-2020)
- 2.4 Manufacturers Coronary Stents Manufacturing Sites, Area Served, Product Type
- 2.5 Coronary Stents Market Competitive Situation and Trends
- 2.5.1 Coronary Stents Market Concentration Rate
- 2.5.2 Global Top 5 and Top 10 Players Market Share by Revenue
- 2.5.3 Market Share by Company Type (Tier 1, Tier 2 and Tier 3)
- 2.6 Manufacturers Mergers & Acquisitions, Expansion Plans
- 2.7 Primary Interviews with Key Coronary Stents Players (Opinion Leaders)
3 Coronary Stents Retrospective Market Scenario by Region
- 3.1 Global Coronary Stents Retrospective Market Scenario in Sales by Region: 2015-2020
- 3.2 Global Coronary Stents Retrospective Market Scenario in Revenue by Region: 2015-2020
- 3.3 North America Coronary Stents Market Facts & Figures by Country
- 3.3.1 North America Coronary Stents Sales by Country
- 3.3.2 North America Coronary Stents Sales by Country
- 3.3.3 U.S.
- 3.3.4 Canada
- 3.4 Europe Coronary Stents Market Facts & Figures by Country
- 3.4.1 Europe Coronary Stents Sales by Country
- 3.4.2 Europe Coronary Stents Sales by Country
- 3.4.3 Germany
- 3.4.4 France
- 3.4.5 U.K.
- 3.4.6 Italy
- 3.4.7 Russia
- 3.5 Asia Pacific Coronary Stents Market Facts & Figures by Region
- 3.5.1 Asia Pacific Coronary Stents Sales by Region
- 3.5.2 Asia Pacific Coronary Stents Sales by Region
- 3.5.3 China
- 3.5.4 Japan
- 3.5.5 South Korea
- 3.5.6 India
- 3.5.7 Australia
- 3.5.8 Taiwan
- 3.5.9 Indonesia
- 3.5.10 Thailand
- 3.5.11 Malaysia
- 3.5.12 Philippines
- 3.5.13 Vietnam
- 3.6 Latin America Coronary Stents Market Facts & Figures by Country
- 3.6.1 Latin America Coronary Stents Sales by Country
- 3.6.2 Latin America Coronary Stents Sales by Country
- 3.6.3 Mexico
- 3.6.3 Brazil
- 3.6.3 Argentina
- 3.7 Middle East and Africa Coronary Stents Market Facts & Figures by Country
- 3.7.1 Middle East and Africa Coronary Stents Sales by Country
- 3.7.2 Middle East and Africa Coronary Stents Sales by Country
- 3.7.3 Turkey
- 3.7.4 Saudi Arabia
- 3.7.5 U.A.E
4 Global Coronary Stents Historic Market Analysis by Type
- 4.1 Global Coronary Stents Sales Market Share by Type (2015-2020)
- 4.2 Global Coronary Stents Revenue Market Share by Type (2015-2020)
- 4.3 Global Coronary Stents Price Market Share by Type (2015-2020)
- 4.4 Global Coronary Stents Market Share by Price Tier (2015-2020): Low-End, Mid-Range and High-End
5 Global Coronary Stents Historic Market Analysis by Application
- 5.1 Global Coronary Stents Sales Market Share by Application (2015-2020)
- 5.2 Global Coronary Stents Revenue Market Share by Application (2015-2020)
- 5.3 Global Coronary Stents Price by Application (2015-2020)
6 Company Profiles and Key Figures in Coronary Stents Business
- 6.1 Medtronic
- 6.1.1 Corporation Information
- 6.1.2 Medtronic Description, Business Overview and Total Revenue
- 6.1.3 Medtronic Coronary Stents Sales, Revenue and Gross Margin (2015-2020)
- 6.1.4 Medtronic Products Offered
- 6.1.5 Medtronic Recent Development
- 6.2 Boston Scientific
- 6.2.1 Boston Scientific Coronary Stents Production Sites and Area Served
- 6.2.2 Boston Scientific Description, Business Overview and Total Revenue
- 6.2.3 Boston Scientific Coronary Stents Sales, Revenue and Gross Margin (2015-2020)
- 6.2.4 Boston Scientific Products Offered
- 6.2.5 Boston Scientific Recent Development
- 6.3 Biosensors
- 6.3.1 Biosensors Coronary Stents Production Sites and Area Served
- 6.3.2 Biosensors Description, Business Overview and Total Revenue
- 6.3.3 Biosensors Coronary Stents Sales, Revenue and Gross Margin (2015-2020)
- 6.3.4 Biosensors Products Offered
- 6.3.5 Biosensors Recent Development
- 6.4 Terumo
- 6.4.1 Terumo Coronary Stents Production Sites and Area Served
- 6.4.2 Terumo Description, Business Overview and Total Revenue
- 6.4.3 Terumo Coronary Stents Sales, Revenue and Gross Margin (2015-2020)
- 6.4.4 Terumo Products Offered
- 6.4.5 Terumo Recent Development
- 6.5 MicroPort
- 6.5.1 MicroPort Coronary Stents Production Sites and Area Served
- 6.5.2 MicroPort Description, Business Overview and Total Revenue
- 6.5.3 MicroPort Coronary Stents Sales, Revenue and Gross Margin (2015-2020)
- 6.5.4 MicroPort Products Offered
- 6.5.5 MicroPort Recent Development
- 6.6 Lepu Medical
- 6.6.1 Lepu Medical Coronary Stents Production Sites and Area Served
- 6.6.2 Lepu Medical Description, Business Overview and Total Revenue
- 6.6.3 Lepu Medical Coronary Stents Sales, Revenue and Gross Margin (2015-2020)
- 6.6.4 Lepu Medical Products Offered
- 6.6.5 Lepu Medical Recent Development
- 6.7 B.Braun
- 6.6.1 B.Braun Coronary Stents Production Sites and Area Served
- 6.6.2 B.Braun Description, Business Overview and Total Revenue
- 6.6.3 B.Braun Coronary Stents Sales, Revenue and Gross Margin (2015-2020)
- 6.4.4 B.Braun Products Offered
- 6.7.5 B.Braun Recent Development
- 6.8 Atrium Medical
- 6.8.1 Atrium Medical Coronary Stents Production Sites and Area Served
- 6.8.2 Atrium Medical Description, Business Overview and Total Revenue
- 6.8.3 Atrium Medical Coronary Stents Sales, Revenue and Gross Margin (2015-2020)
- 6.8.4 Atrium Medical Products Offered
- 6.8.5 Atrium Medical Recent Development
- 6.9 SINOMED
- 6.9.1 SINOMED Coronary Stents Production Sites and Area Served
- 6.9.2 SINOMED Description, Business Overview and Total Revenue
- 6.9.3 SINOMED Coronary Stents Sales, Revenue and Gross Margin (2015-2020)
- 6.9.4 SINOMED Products Offered
- 6.9.5 SINOMED Recent Development
- 6.10 LBC
- 6.10.1 LBC Coronary Stents Production Sites and Area Served
- 6.10.2 LBC Description, Business Overview and Total Revenue
- 6.10.3 LBC Coronary Stents Sales, Revenue and Gross Margin (2015-2020)
- 6.10.4 LBC Products Offered
- 6.10.5 LBC Recent Development
- 6.11 Essen Technology
- 6.11.1 Essen Technology Coronary Stents Production Sites and Area Served
- 6.11.2 Essen Technology Coronary Stents Description, Business Overview and Total Revenue
- 6.11.3 Essen Technology Coronary Stents Sales, Revenue and Gross Margin (2015-2020)
- 6.11.4 Essen Technology Products Offered
- 6.11.5 Essen Technology Recent Development
7 Coronary Stents Manufacturing Cost Analysis
- 7.1 Coronary Stents Key Raw Materials Analysis
- 7.1.1 Key Raw Materials
- 7.1.2 Key Raw Materials Price Trend
- 7.1.3 Key Suppliers of Raw Materials
- 7.2 Proportion of Manufacturing Cost Structure
- 7.3 Manufacturing Process Analysis of Coronary Stents
- 7.4 Coronary Stents Industrial Chain Analysis
8 Marketing Channel, Distributors and Customers
- 8.1 Marketing Channel
- 8.2 Coronary Stents Distributors List
- 8.3 Coronary Stents Customers
9 Market Dynamics
- 9.1 Market Trends
- 9.2 Opportunities and Drivers
- 9.3 Challenges
- 9.4 Porter's Five Forces Analysis
10 Global Market Forecast
- 10.1 Global Coronary Stents Market Estimates and Projections by Type
- 10.1.1 Global Forecasted Sales of Coronary Stents by Type (2021-2026)
- 10.1.2 Global Forecasted Revenue of Coronary Stents by Type (2021-2026)
- 10.2 Coronary Stents Market Estimates and Projections by Application
- 10.2.1 Global Forecasted Sales of Coronary Stents by Application (2021-2026)
- 10.2.2 Global Forecasted Revenue of Coronary Stents by Application (2021-2026)
- 10.3 Coronary Stents Market Estimates and Projections by Region
- 10.3.1 Global Forecasted Sales of Coronary Stents by Region (2021-2026)
- 10.3.2 Global Forecasted Revenue of Coronary Stents by Region (2021-2026)
- 10.4 North America Coronary Stents Estimates and Projections (2021-2026)
- 10.5 Europe Coronary Stents Estimates and Projections (2021-2026)
- 10.6 Asia Pacific Coronary Stents Estimates and Projections (2021-2026)
- 10.7 Latin America Coronary Stents Estimates and Projections (2021-2026)
- 10.8 Middle East and Africa Coronary Stents Estimates and Projections (2021-2026)
11 Research Finding and Conclusion
12 Methodology and Data Source
- 12.1 Methodology/Research Approach
- 12.1.1 Research Programs/Design
- 12.1.2 Market Size Estimation
- 12.1.3 Market Breakdown and Data Triangulation
- 12.2 Data Source
- 12.2.1 Secondary Sources
- 12.2.2 Primary Sources
- 12.3 Author List
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