Demand- Supply Scenario of Coronary Stents Market to Remain Balanced During the Forecast Period
Cardiovascular devices industry is growing at a significant rate globally, due to increasing number of heart diseases and other cardiovascular problems cases. In addition, technological advancement in this field and growing awareness has increased the growth of cardiovascular devices market. Coronary stents refer to the medical devices that are tubular in nature and fixed in coronary artery to keep artery open, for proper supply of blood. Continuous increase in the cases of cardiovascular problems has led a significant growth in Coronary Stents Market. Out of global market for coronary stents, North American coronary stents market has the largest share. This is due to increased prevalence of coronary heart diseases and technological advancement in the region. In addition, government initiatives and better reimbursement scenario has led to increase in North American coronary stents market.
North American coronary stents market may be categorized into various segments. On the basis of its type, North American coronary stents market can be segmented into mechanical heart valves, Tissue /Bio-Prosthetic Heart Valves and Non-Invasive/ Transluminal Heart Valves. Mechanical heart valves can be segmented into percutaneous implantation and thoracotomy/ sternotomy implantation. Tissue /bio-prosthetic heart valves can be segmented into isograft/allograft/ homografts /autografts and heterografts/ xenograft. Non-invasive/ transluminal heart valves include expandable heart valve and exchangeable heart valve (without stent).
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Some of the major factors that have been driving the North American coronary stents market are aging population, increase in the prevalence of heart diseases and technological advancement in the region. In addition, other factors such as good reimbursement scenario and no better healthcare facilities in other neighboring countries such as Canada have been driving the North American coronary stents market. However, factors such as high cost involved and lack of experienced professionals are restraining the North American coronary stents market.
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Increase in the medical tourism holds a good opportunity for growth of North American coronary stents market. In addition, growing demand for innovative products with improved characteristics is expected to drive the North American coronary stents market. Some of the latest trends that have been observed in North American coronary stents market include the growing popularity of bioabsorbable stents. Some of the major companies that have been involved in North American coronary stents market are Abbott Laboratories, Medtronic, Inc, Cordis Corporation, Covidien, Inc. and Boston Scientific Corporation.