Belgium Coronary Stents Market Report 2022 to 2030

Belgium Coronary Stents Market Analysis

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The Belgium Coronary Stents Market is expected to witness growth from $25 Mn in 2022 to $36 Mn in 2030 with a CAGR of 4.75% for the forecasted year 2022-2030. In order to improve the nation's healthcare system, particularly the treatment of CAD, the Belgian government has boosted healthcare spending. This gives manufacturers the chance to build their companies and meet the rising demand for cardiac stents. The market is segmented by type, by mode of delivery, by materials and by end user. Some key players in this market include Trasis, Acertys Healthcare, B. Braun, Abbott Laboratories, Biotronik, Medtronic, GE Healthcare, Boston Scientific, Transmedia Healthcare and Philips Healthcare.

ID: IN10BEMD006 CATEGORY: Medical Devices GEOGRAPHY: Belgium AUTHOR: Jigyasu Bhandari

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Belgium Coronary Stents Healthcare Market Executive Analysis

The Belgium Coronary Stents Market size is at around $25 Mn in 2022 and is projected to reach $36 Mn in 2030, exhibiting a CAGR of 4.75% during the forecast period. In 2021, Belgium spent 0.98% of its GDP on managing and ensuring its public healthcare system. Belgium's total health spending has progressively climbed over time as a share of GDP, rising from 12.5% in 2020 to 13.97% in 2023. The overall budget exceeds the average for the EU. Public (total) spending has gradually risen over the past ten years and has typically kept up with levels in the European Union (EU).

Approximately 13% of all deaths in Belgium are caused by coronary artery disease, making it the country's leading killer. Belgium has a high prevalence of CAD, with 7.3% of the population suffering from the condition. Acute Coronary Syndrome (ACS) incidence has been rising significantly in Belgium over the past few years, rising from 233.65 cases per 100,000 people in 2015 to 315.97 occurrences per 100,000 people in 2022. In Belgium, coronary stents are frequently utilised to treat CAD. To keep the restricted or blocked coronary artery open and increase blood flow to the heart, a stent is put into it. This lessens CAD symptoms such as fatigue, shortness of breath, and chest pain. Coronary stents can be used to treat CAD as well as to protect high-risk patients against heart attacks. For instance, it could be advised to implant a coronary stent in patients with severe CAD or those who have already had a heart attack in order to avoid further attacks.

Belgium Coronary Stents Market Analysis

Market Dynamics

Market Growth Drivers

In order to improve the nation's healthcare system, particularly the treatment of CAD, the Belgian government has boosted healthcare spending. This gives manufacturers the chance to build their companies and meet the rising demand for cardiac stents. Due to its quicker recovery times, reduced pain, and lower risk of problems when compared to open-heart surgery, minimally invasive techniques are becoming more and more popular among patients in Belgium. A minimally invasive therapeutic option that is gaining popularity in Belgium is coronary stents. Recent years have seen major progress in coronary stent technology, leading to the availability of new stent varieties including bioresorbable stents. These developments have boosted the use of coronary stents for treating CAD and enhanced their safety and efficacy.

Market Restraints

The healthcare regulatory environment in Belgium is stringent, and cardiac stents must go through onerous approval procedures. This may make it difficult for manufacturers to launch new items, which could hinder growth. Although coronary stents are a successful treatment for CAD, some patients may benefit more from other procedures like coronary artery bypass grafting. This may have an influence on growth and limit the market for coronary stents.

Competitive Landscape

Key Players

Trasis (BE)
Acertys Healthcare (BE)
Biotronik
Boston Scientific
B. Braun
Abbott Laboratories
GE Healthcare
Medtronic
Philipps Healthcare

Healthcare Policies and Regulatory Landscape

For the purpose of regulating coronary stents in Belgium, the Federal Agency for Medicines and Health Products (FAMHP) is in charge of guaranteeing their efficacy, quality, and safety. Before they may be marketed and sold in Belgium, coronary stents must go through a stringent clearance process by the FAMHP. A clinical assessment and examination of the manufacturer's quality management system are both part of the approval procedure. Medical devices, such as coronary stents, are subject to favourable reimbursement conditions under the Belgian healthcare system. However, there are some requirements, like clinical proof of the device's efficacy, before payment is made. The FAMHP conducts post-market surveillance efforts to keep an eye on the performance and safety of medical devices, particularly coronary stents. This makes it easier to guarantee that the gadgets stay secure and efficient after they have been authorised and marketed.

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 cBelgiumity 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

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How Do We Get It?

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Analyzing historical proprietary data collected from multiple projects.
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Searching through academic conferences, published research, citations, and social media platforms
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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.
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Combining Secondary and Primary Research

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Merging historical data from secondary research with real-time data from primary research.
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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.