Increasing number of product launches to drive the coronary stents market

The global coronary stents market is estimated to be valued at USD 7814.4 million in 2018, and is projected to exhibit a CAGR of 6.8 percent from 2018 to 2026, projects Coherent Market Insights. Increasing incidence of coronary blockage and changes in lifestyle from physically active to sedentary, in turn is increasing cholesterol accumulation and aiding the coronary stents market growth. For instance, according to the World Health Organization (WHO) 2017 survey, the global prevalence of obesity increased three times between 1975 and 2016.

The growth trajectory in the coronary stents market can be attributed to increasing number of product launches in the market. Intense competition and pricing pressure is compelling manufacturers to develop cost-effective and innovative stents in the market. For instance, in 2017, Medtronic received approval for Onyx drug eluting stents from the USFDA for the treatment of coronary artery disease in adults. In the same year, the company also received approval for the cobalt chromium coronary stent system, known as Pro-Kinetic energy stents after BIOHELIX-I studies. Furthermore, in 2017, Cordis launched two products, the Tryton Side Branch Stent and Medinol’s NIRxcell, a cobalt–chromium bare metal stent (BMS) under comprehensive interventional cardiology portfolio.

Mergers and acquisitions by key players are further augmenting the coronary stents market growth with major players enhancing their market share and leveraging the strengths of the acquired company. For instance, in February 2018, Stentys confirmed its rights to acquire MINVASYS, a France-based cardiovascular disorder solutions specialist, to accelerate its development and to establish itself in the interventional cardiology market.