Spain Coronary Stents Market Report 2022 to 2030

Spain Coronary Stents Market Analysis

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Spain's Coronary Stents Market is expected to witness growth from $218 Mn in 2022 to $293 Mn in 2030 with a CAGR of 3.75% for the forecasted year 2022-30. In Spain, procedures involving coronary stents are minimally invasive, which may lead to shorter hospital stays, quicker recoveries, and lower healthcare expenses. As a result, Spain is seeing an increase in the use of minimally invasive techniques, which is fueling the need for coronary stents. The market is segmented by type, mode of delivery, materials, and end user. Some key players in this market include Medlumics, Devicare, Ekuore, B. Braun, Abbott Laboratories, Biotronik, Medtronic, GE Healthcare, Boston Scientific, and Philips Healthcare.

ID: IN10ESMD006 CATEGORY: Medical Devices GEOGRAPHY: Spain AUTHOR: Jigyasu Bhandari

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Spain Coronary Stents Healthcare Market Executive Analysis

Spain's Coronary Stents Market size is at around $218 Mn in 2022 and is projected to reach $293 Mn in 2030, exhibiting a CAGR of 3.75% during the forecast period. The Spanish Minister of Health receives less than 3% of all government spending. The Ministry of Health's budget will increase by 6.5% to $3308,34 Mn in 2023. The new National Public Health Agency of Spain will receive $3.41 million, and the national network for public health surveillance will receive $4.48 million.

In Spain in 2021, coronary artery disease was the leading cause of death, accounting for 11.2% of all fatalities. Coronary artery disease has been on the rise in Spain recently, where there are over 120,000 new cases diagnosed each year. For the treatment of coronary artery disease, which is characterized by the narrowing or obstruction of the coronary arteries that feed blood to the heart muscle, coronary stents are frequently utilized in Spain. Utilizing coronary stents can help the heart receive better blood flow and lessen symptoms of coronary artery disease including chest pain. Coronary stents can aid in restoring blood flow through constrictions or obstructions in the arteries, lowering the risk of heart attacks and other severe CAD consequences.

In Spain, to reach the blocked artery during a coronary stent surgery, a tiny incision is often made in the groin or arm. Compared to open heart surgery, this may lead to shorter hospital stays and speedier recovery times. Coronary stents are made to stay in place permanently, supporting the artery throughout time and assisting in preventing more blockages. To control coronary artery disease over the long term, coronary stents can be used in conjunction with other treatments, such as medication and lifestyle modifications.

Spain Coronary Stents Market Analysis

Market Dynamics

Market Growth Drivers

In Spain, procedures involving coronary stents are minimally invasive, which may lead to shorter hospital stays, quicker recoveries, and lower healthcare expenses. As a result, Spain is seeing an increase in the use of minimally invasive techniques, which is fueling the need for coronary stents. New and improved stents that are more resilient, flexible, and biocompatible than earlier generations have been created as a result of recent advancements in stent design. This has raised demand in Spain for these more recent stent technologies. Coronary stents and other medical equipment used in the treatment of CAD are subject to favourable reimbursement policies under the Spanish healthcare system. As a result, more people and healthcare professionals in the nation are utilising these devices.

Market Restraints

In Spain, pricing pressure from consumers, especially hospitals, clinics, and insurance companies, is one of the biggest problems that producers in the Spain coronary stents industry must deal with. These consumers are putting pressure on producers to drop prices as they become more cost-conscious and price-sensitive. The market for coronary stents in Spain is extremely competitive, with numerous international companies fighting for market share. Smaller producers may find it challenging to compete as a result, and prices may also be under pressure.

Competitive Landscape

Key Players

Medlumics (ES)
Devicare (ES)
Ekuore (ES)
Biotronik
Boston Scientific
B. Braun
Abbott Laboratories
GE Healthcare
Medtronic
Philipps Healthcare

Healthcare Policies and Regulatory Landscape

The regulatory authority in charge of approving and monitoring medical devices, including coronary stents, in Spain is the Spanish Agency of Medicines and Medical Devices (AEMPS). The Medical Devices Regulation (MDR) and In Vitro, Diagnostic Regulation (IVDR) of the European Union serve as the foundation for Spain's medical device regulatory framework. Medical device safety and effectiveness standards, as well as the procedure for their approval and commercialization, are established by these regulations. The regional health authorities and the Spanish Ministry of Health oversee the reimbursement of medical devices in Spain. To be eligible for payment, medical equipment must be listed in the national catalogue of approved medical devices.

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 cSpainity 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.