CORONARY STENTS MARKET ANALYSIS

Market Challenges And Opportunities

Global Coronary Stents Market– Impact of Coronavirus (COVID-19) Pandemic

Coronavirus disease 2019 (COVID-19) is a highly contagious infectious disease caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). According to the World Health Organization (WHO) around 40 million people were affected globally, till October 10, 2022.

However, the COVID-19 pandemic had a negative impact on the global coronary stents market due to reduced number of surgical operations during the pandemic period. For instance, in July 2020, according to an article published in the PubMed Central, a biomedical and life sciences journal, a survey was conducted and it was found that the all hospitals have had to sort the urgency of their daily surgical procedures and consider non-surgical methods wherever possible.

Global Coronary Stents Market: Key Developments

On 8 February 2023, DSM, a purpose-led global science-based company, announced its partnership with Svelte, a privately held company, focused on delivering novel products in the coronary stents market to develop DISCREET bioresorbable coating technology used with SLENDER IDS and DIRECT RX drug eluting systems (DES)

In July 2021, Abbott, one of the leading multinational pharmaceutical companies in India, stated that its product Xience Skypoint has received U.S. Food and Drug Administration (FDA) approval the Conformité Européene (CE) mark which is the European Union's (EU) mandatory conformity marking for regulating the goods sold within the European region, and Japanese Pharmaceuticals and Medical Devices Agency (PMDA) approval in Japan for the broadest expansion with the availability of extended sizes of 4.5 mm and 5 mm offerings.

Increasing product launches and approvals by regulatory authorities will increase the scope of new opportunities, which is expected to drive the growth of the global coronary stents market in the forecast period.

Global Coronary Stents Market: Restraint

Major factors that can hamper the growth of the global coronary stents market over the forecast period include high cost of angioplasty for insertion of coronary stents used for the treatment of coronary artery disease. For instance, in June 2021, a report published by Statista, a leading statistics company on the internet, stated that in the U.S., an angioplasty cost US$ 28,200.