Australia Coronary Stents Market Report 2022 to 2030

Australia Coronary Stents Market Analysis

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Australia's Coronary Stents Market is expected to witness growth from $136 Mn in 2022 to $220 Mn in 2030 with a CAGR of 6.25% for the forecasted year 2022-30. In Australia, the coronary stent market is expanding as a result of the growing use of stenting treatments among medical professionals, such as cardiologists and interventional radiologists. The market is segmented by type, mode of delivery, materials, and end user. Some key players in this market include Endoluminal Sciences, Austramedex, B. Braun, Abbott Laboratories, Biotronik, Medtronic, GE Healthcare, Boston Scientific, and Philips Healthcare.

ID: IN10AUMD006 CATEGORY: Medical Devices GEOGRAPHY: Australia AUTHOR: Jigyasu Bhandari

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Australia Coronary Stents Healthcare Market Executive Analysis

Australia Coronary Stents Market size is at around $136 Mn in 2022 and is projected to reach $220 Mn in 2030, exhibiting a CAGR of 6.25% during the forecast period. The estimated overall health spending in Australia for 2022–23 is $105.8 billion, or 16.8% of all government spending in the country. The health sector contributes 10%, or around $105 billion in fiscal year 2022, to Australia's economy.

In Australia, coronary heart disease was responsible for about 18,000 fatalities, or 12% of all fatalities. Australia will have a high prevalence of CHD in 2022–2022, with over 580,000 people suffering from the condition. Higher prevalence rates were seen in older age groups, with rates being highest for men and women over 85. Small wire-mesh tubes called coronary stents are put into blocked or restricted coronary arteries in order to increase blood flow to the heart. They are widely used, beneficial, and applied in Australia as a treatment for coronary artery disease. As the biggest cause of heart disease and death in Australia, CAD is the main condition that coronary stents are used to treat. Stents can help ease symptoms like chest discomfort and shortness of breath by restoring blood flow to the heart. By lowering the chance of blood clots forming in the arteries, coronary stents can also be utilized to prevent heart attacks. Drug-eluting stents (DES), also known as stents coated with medicines, are frequently employed in this application.

Australia Coronary Stents Market Analysis

Market Dynamics

Market Growth Drivers

In Australia, the coronary stents market is expanding as a result of the growing use of stenting treatments among medical professionals, such as cardiologists and interventional radiologists. Demand for stents is projected to rise as stenting treatments become more widespread. The market is expanding as a result of the creation of novel and enhanced stent technologies, including drug-eluting stents, bioresorbable stents, and stents with better coatings. Market share is anticipated to be gained by manufacturers who can innovate and create new goods with better clinical outcomes. The need for stenting operations is being driven by the rising trend towards less invasive procedures. Stenting can lead to quicker recovery times and shorter hospital stays than coronary artery bypass surgery since it is less intrusive.

Market Restraints

In Australia, the high price of coronary stenting treatments may be a market barrier, especially for people without private health insurance. Due to this, the market's growth and demand for stenting treatments may be constrained. Some individuals may prefer coronary artery bypass surgery as a substitute for stenting as a treatment for CAD. In addition, the development of novel therapies including stem cell and gene therapies may offer patients with CAD other treatment choices.

Competitive Landscape

Key Players

Endoluminal Sciences (AU)
Austramedex (AU)
Biotronik
Boston Scientific
B. Braun
Abbott Laboratories
GE Healthcare
Medtronic
Philipps Healthcare

Healthcare Policies and Regulatory Landscape

The Therapeutic Goods Administration (TGA) is in charge of overseeing the regulatory environment and healthcare policies in Australia's market for coronary stents. In Australia, the TGA is in charge of overseeing the security, effectiveness, and calibre of medical devices, including coronary stents. The Australian government has policies in place to guarantee that patients have access to cheap healthcare in addition to the regulatory criteria set forth by the TGA. The Pharmaceutical Benefits Scheme (PBS), which covers a portion of the cost of numerous prescription drugs, including several coronary stents, is an example of this. The PBS operates by establishing a maximum cost for prescription drugs that qualify for coverage. The remaining expense is then subsidised by the government. This makes it possible for patients to receive the necessary medical care without having to bear a heavy financial load.

1. Executive Summary
1.1 Device Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Regulatory Landscape for Medical Device
1.6 Health Insurance Coverage in Country
1.7 Type of Medical Device
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Coronary Stents Market Segmentation

By Type (Revenue, USD Billion):

The three main categories of coronary stents are bare-metal, drug-eluting, and bioabsorbable, depending on their nature. The segment for bioabsorbable stents is anticipated to increase at the fastest rate over the forecast period. The benefits that are encouraging the use of bioabsorbable stents include a decrease in problems including thrombosis and inflammation, the cAustraliaity to restore normal vasomotion, and an improvement in aberrant endothelial function. However, in the upcoming years, the expansion of this market segment is anticipated to be constrained by the high cost of bioabsorbable stents.

Bare-metal Stents
Drug-eluting Stents
Bioabsorbable Stents

By Mode of Delivery (Revenue, USD Billion):

The market is divided into self-expanding and balloon-expandable stents according to delivery method. Because of the high use of these stents, rising research initiatives to advance the technology, and rising regulatory approvals for balloon-expandable stents, the balloon expandable stents segment is anticipated to increase at the greatest CAGR over the projection period.

Balloon-expandable Stents
Self-expanding Stents

By Materials (Revenue, USD Billion):

The coronary stent market is divided into metallic (cobalt chromium, platinum chromium, nickel-titanium, and stainless steel) and other stents according to the material. The market for other stents is anticipated to experience the largest CAGR growth during the projection period. The rapid expansion of this market can be ascribed to the increased use of polymers and copolymers in the production of bioabsorbable stents.

Metallic Stents
Cobalt-Chromium
Platinum Chromium
Nickel Titanium
Stainless Steel
Other Stents

By End User (Revenue, USD Billion):

The coronary stent market is divided into hospitals, cardiac centres, and ambulatory surgical centres based on the end user. According to predictions, the hospital sector will control the market in 2016. This is primarily caused by hospitals using a lot of coronary stents.

Hospitals
Cardiac Centers
Ambulatory Surgical Centers

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.