Incorporation of Advanced Technology to Remain Crucial to Ensure Sustained Demand for Coronary Stents, reports TMR The global coronary stents market exhibits intense competition with the top four players representing nearly 87% of the overall market. The accelerated research activities to launch new and improved coronary stents is boosting the competitive rivalry among the global players, says Transparency Market Research (TMR) in a new study. The top four companies are Medtronic Inc., Boston Scientific Corporation, Abbott Laboratories Inc., and Terumo Corporation. Other key players influencing the growth of the global coronary stents market are B. Braun Melsungen AG and Biotronik SE & Co. KG. “The new entrants can establish a presence by devising robust market strategies and reliable products to establish themselves in a market already being dominated by large companies. The global coronary stents market is also characterized by high threat of substitutes and strict regulatory requirements, thereby raising the barriers for new entrants,� states the author of the report. However, increasing opportunities for merger and acquisitions for the development of innovative stents for treating multiple coronary artery diseases will attract new companies to the global coronary stents market.
Rising Prevalence of Coronary Artery Diseases to Drive Sales of Coronary Stents Globally, cardiovascular diseases (CVDs) cause the highest number of deaths every year. According to the World Health Organization (WHO), nearly 17.5 million people died from CVDs in 2012. Out of these, 7.4 million died as a result of coronary artery diseases (CADs). The growing prevalence of CADs will boost the demand for percutaneous coronary interventions (PCIs), which in turn would increase the uptake of coronary stents. Moreover, the rise in global obesity rates will add to various coronary artery diseases. The WHO also estimates that nearly 23% of overweight and obese individuals suffer from some form of CAD. These trends are likely to bolster the growth of the global coronary stents market. The advent of innovative and new coronary stents, especially the bio-absorbable ones bodes well for the growth of the global coronary stents market. These technologically advanced stents have minimum or no side effects, thereby promoting their uptake. Another factor driving the growth of the global coronary stents market is the increasing geriatric population worldwide. As aged people are more susceptible to CADs, the need for PCIs among such population is relatively higher, which in turn, will propel growth of the global coronary stents market.