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Coronary Stents Market Size

Report ID: GMI2966
Published Date: Feb 2023
Report Format: PDF

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Coronary Stents Market Size

Coronary Stents Market size was valued at more than USD 5.7 billion in 2022 and is forecasted to observe over 4.5% CAGR from 2023 to 2032. Growing cases of coronary artery diseases across the globe to fuel market development.

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Increasing cases of coronary artery disease have generated greater demand for percutaneous coronary intervention, thereby accelerating the adoption of coronary stents. As per the Centers for Disease and Prevention (CDC), in 2020, nearly 697,000 people died from heart disease across the United States. Each year, the country witnesses more than 795,000 people getting a stroke.

Rising elderly population in developing economies is another major factor responsible for the growing prevalence of cardiovascular disease (CVD). The geriatric population is often prone to various chronic illnesses such as peripheral vascular disease (PVD). These patients mostly prefer minimally surgical procedures like percutaneous coronary intervention (PCI) to treat related disorders which will increase the demand for coronary stents.

Coronary Stents Market Report Attributes
Report Attribute	Details
Base Year:	2022
Coronary Stents Market Size in 2022:	USD 5.7 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	4.5%
2032 Value Projection:	USD 9.3 Billion
Historical Data for:	2018 to 2022
No. of Pages:	170
Tables, Charts & Figures:	270
Segments covered:	Product, End-use and Region
Growth Drivers:	Rising burden of coronary artery disease Increasing demand for minimally invasive procedures Technological advancement in developing economies Growing geriatric population
Pitfalls & Challenges:	Product failure and recall Stringent regulatory approvals Dearth of skilled healthcare professional in developing economies

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Lack of skilled workers in the healthcare sector will hamper the coronary stents market expansion. Numerous nations worldwide struggle to meet the demand for medical professionals including nurses and doctors. For instance, according to a new survey, the United States will need about 2.3 million skilled healthcare professionals by the end of 2025 to deal with the growing incidence of cardiovascular ailments and the aging population.

Authors: Mariam Faizullabhoy

Frequently Asked Questions (FAQ) :

Global market for coronary stents size was valued at more than USD 5.7 billion in 2022 and is expected to register over 4.5% CAGR from 2023 to 2032.

Cardiac centers segment is expected to witness a 5.1% CAGR between 2023 and 2032 given to a growing patient footfall across these centers.

Asia Pacific coronary stents market is expected to record a 6.2% CAGR during 2023 and 2032 due to the growing geriatric population in the region.

B. Braun Melsungen AG, Elixir Medical Corporation, Boston Scientific Corporation, Abbott Laboratories, Medtronic Plc, and Meril Life Science are some of the key players in the global market.