Cobalt-Chromium Stent: Introduction
- Stent is a medical device that can provide scaffolding to organ walls and vessels to keep arteries open
- Stent is a tube-like, flexible, and small device. Stent is either made from polymer or metal.
- Stents are made-up of metals such as cobalt chromium, stainless steel, and nitinol
- Nowadays, cobalt-chromium is being used as stent material as it triggers activation of coagulation, platelets, endothelial cell dysfunction, and leukocytes
- Patients with peripheral artery disease and coronary artery diseases are receiving percutaneous coronary interventions with stent implantation for the treatment of the disease. However, stent thrombosis remains the major issue because of its adverse consequences.
- Advantages offered by cobalt chromium, such as strength, non-ferromagnetism, biocompatibility, and high resistance to corrosion and fatigue are expected to increase the usage of cobalt-chromium for making the stents to use in the treatment of cardiovascular diseases
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Key Drivers of Global Cobalt-Chromium Stent Market
- Increase in number of people with cardiovascular diseases is expected to drive the global cobalt-chromium stent market during the forecast period
- Cardiovascular diseases (CVDs) are listed as a major cause of mortality across the world. According to the American Heart Association, approximately 46% i.e. 116.4 million of U.S. adults were suffering from hypertension in 2017. An estimated 840,768 deaths occurred due to cardiovascular diseases in the U.S. in 2016. The total annual cost of cardiovascular diseases in the U.S. was estimated to be about US$ 351.2 Bn in 2014–2015, with US$ 213.8 Bn direct cost, including 46% for inpatient care.
- Occurrence of restenosis after angioplasty procedure boosts the adoption of novel stents such as drug-eluting stents which are known to drastically reduce the frequency of restenosis
- This is expected to drive the global cobalt-chromium stent market during the forecast period
Coronary Artery Stents Segment to Dominate Global Cobalt-chromium Stent Market
- Based on type, the global cobalt-chromium stent market can be divided into coronary artery stents and peripheral vascular stents
- The coronary artery stents segment is anticipated to dominate the global cobalt-chromium stent market during the forecast period
- Dominance of the segment is owing to rise in prevalence of coronary artery diseases across the globe
- According to the National Heart Foundation of Australia, coronary heart disease is a leading cause of deaths in Australia, affecting 1.2 million people each year. According to the European Heart Network, CVD causes 3.9 million deaths in Europe each year.
Hospitals Segment to Offer Attractive Opportunities
- In terms of end-user, the global cobalt-chromium stent market can be classified into hospitals, cardiac centers, and ambulatory surgical centers
- The hospitals segment is expected to account for major share of the global cobalt-chromium stent market by 2027
- The significant share held by the hospitals segment can be primarily attributed to increase in number of balloon angioplasty procedures or percutaneous transluminal coronary angioplasty (PTCA) which utilize stents to reduce restenosis, and the need to repeat the procedure in hospitals
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North America to Dominate Global Cobalt-Chromium Stent Market
- In terms of region, the global cobalt-chromium stent market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to dominate the global cobalt-chromium stent market during the forecast period.
- Factors such as rise in number of people living with cardiovascular diseases in countries such as the U.S. who need the treatment options such as percutaneous coronary intervention (PCI) and balloon angioplasty procedures, are expected to drive the cobalt-chromium stent market in the region during the forecast period
- Additionally, increase in demand for less invasive procedures is expected to drive the cobalt-chromium stent market in the region
Key Players Operating in Global Cobalt-Chromium Stent Market
The global cobalt-chromium stent market is consolidated with the presence of few international players taking up the major share of the global cobalt-chromium stent market. Key players operating in the global cobalt-chromium stent market are:
- BIOTRONIK AG
- Abbott
- Cordis Corporation
- Medtronic
- Boston Scientific Corporation
- Biosensors International Group, Ltd
- Cook Medical
- Alvimedica
- Insitu Technologies
Global Cobalt-Chromium Stent Market: Research Scope
Global Cobalt-Chromium Stent Market, by Product Type
- Coronary Artery Stents
- Peripheral Vascular Stents
Global Cobalt-Chromium Stent Market, by End-user
- Hospitals
- Cardiac Centers
- Ambulatory Surgical Centers
Global Cobalt-Chromium Stent Market, by Region
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa