Albany, NY -- (SBWIRE) -- 11/24/2017 -- The global coronary stents market is currently estimated to be growing at a CAGR of 6.6% from 2013 to 2019. The market was initially valued at US$6,013 million in 2013 and US$7,451.1 million in 2012. Experts believe that the market's CAGR will hold, which takes the market's value to US$8,292 million in 2019. The market is expected to continue to show similar growth patterns in the future if the demand and market drivers remain consistent.Presenting all of the aforementioned data, Transparency Market Research has released a research publication, titled "Coronary Stents Market - Global Industry Analysis, Size, Share, Pipeline Overview, Growth, Trends and Forecast, 2013 - 2019." The report aims to provide a thorough explanation of all the factors that govern the global coronary stents market in terms of statistics, market projections, and historic data.
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According to the report, the global coronary stents market can be divided into three product type segments of bio-absorbable stents, drug eluting stents (DES), and bare metal stents. Of these, the report states that the largest market share is held by the drug eluting stents segment. This leading market contributor held nearly 55% to 60% of the share in 2010.The major advantage that drug eluting stents offer is the highly demanded non-invasive procedure that is currently finding a high penetration rate of more than 60% on an average.
An analyst at Transparency Market Research states, "The global coronary stents market's greatest segment, drug eluting stents, is expected to be worth around US$5.3 billion in 2019. The segment's CAGR from 2013 to 2019 is estimated to be 9.54%. The major reason why this segment continues to grow at such a rapid pace is its high rate of acceptance in developed countries."
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The drug eluting stents segment in the global coronary stents market is expected to grow at 9.0% in the U.S., at 10% in the Asia Pacific region, and at 3.1% in Europe as well as the Rest of the World. The older and more invasive procedure of using bare metal stents declined rapidly after the introduction of drug eluting stents.The segment of bare metal stents has found less favor in recent years. It held nearly 40% to 45% of the global coronary stents market in 2010 and is currently growing at a CAGR of 2% till 2019.
The prime growth driver in the global coronary stents market is the high prevalence of cardiovascular diseases. With a growing population of senior citizens around the world, especially in developed countries, the global coronary stents market is set to find large regions of growth across the globe.Other factors that drive the growth of the global coronary stents market include changes in lifestyle that have led to the rise in obesity and the advancements in technology of new generation bio-absorbable stents.
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