UK Coronary Stents Market Report 2022 to 2030

UK Coronary Stents Market Analysis

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UK's Coronary Stents Market is expected to witness growth from $294 Mn in 2022 to $365 Mn in 2030 with a CAGR of 2.75% for the forecasted year 2022-30. In the UK, coronary artery disease affects a significant number of people, creating a serious health issue. The demand for coronary stents is anticipated to rise as the population ages and risk factors like obesity and diabetes become more common. The market is segmented by type and by gender. Some key players in this market include Renishaw, LivaNova, Medtronic, GE Healthcare, Boston Scientific, and Philips Healthcare.

ID: IN10GBMD006 CATEGORY: Medical Devices GEOGRAPHY: UK AUTHOR: Jigyasu Bhandari

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UK Coronary Stents Healthcare Market Executive Analysis

UK's Coronary Stents Market is expected to witness growth from $294 Mn in 2022 to $365 Mn in 2030 with a CAGR of 2.75% for the forecasted year 2022-30. In nominal terms, the UK spent $345.68 billion on healthcare in total in 2022, a rise of 7.4% over 2021's spending. The real growth in total current healthcare spending in the UK increased from 10.0% in 2021 to 7.1% in 2022 after accounting for the effects of inflation on the overall economy. In the UK, healthcare spending represented roughly 12% of GDP in 2022.

In the UK, Coronary artery disease is the biggest cause of death, accounting for over 64,000 fatalities yearly. In the UK, 2.3 million people deal with CAD. This covers both cases with and without a diagnosis. The condition known as coronary artery disease, in which the blood arteries supplying the heart with oxygen and nutrients narrow or become clogged, is treated with coronary stents. Coronary stents can be used to treat CAD symptoms like weariness, shortness of breath, and angina pain. Stents can aid in reducing the frequency and severity of these symptoms by increasing blood flow to the heart, enhancing patients' quality of life. By keeping the arteries open and letting blood flow freely to the heart, coronary stents can also aid in the prevention of heart attacks. By doing so, the chance of blood clots developing in the arteries—which can result in a heart attack—can be decreased.

UK Coronary Stents Market Analysis

Market Dynamics

Market Growth Drivers

In the UK, coronary artery disease affects a significant number of people, creating a serious health issue. The demand for coronary stents is anticipated to rise as the population ages and risk factors like obesity and diabetes become more common. With significant investments in medical technology, the UK has a highly developed healthcare system. The development and deployment of novel medical technology, such as coronary stents, can be supported by this infrastructure. Due to the precise standards and regulations in place for the approval and marketing of medical devices, the regulatory environment in the UK is favourable for the makers of those products. This can assist the development of the industry and offer businesses a clear path to the market.

Market Restraints

In the UK, coronary stents are useful in treating coronary artery disease, there are other options, including medication and bypass surgery. In some circumstances, these treatments may be favoured, and competition from these substitutes may lower the demand for coronary stents. Price competition is a major issue for the medical device sector, and coronary stents are no exception. Price pressure may worsen as competition heats up and more companies flood the market, reducing manufacturers' profit margins. Investments in research and development are crucial for the creation of novel and cutting-edge coronary stent solutions. Limited R&D spending may hinder the creation of new goods and reduce competitive distinctiveness.

Competitive Landscape

Key Players

Renishaw (UK)
LivaNova (UK)
Boston Scientific
Abbott Laboratories
GE Healthcare
Medtronic
Philipps Healthcare
BIOTRONIC SE

Healthcare Policies and Regulatory Landscape

The National Institute for Health and Care Excellence (NICE) and the Medicines and Healthcare Products Regulatory Agency (MHRA) are two organisations that oversee the UK market for coronary stents. Before being licenced for use in the UK, these organisations make sure that medical equipment, such as coronary stents, adhere to stringent safety and efficacy standards. Medical device regulation and effectiveness testing in the UK are the responsibility of the MHRA. Before approving medical devices for use on the UK market, the agency examines clinical data and does laboratory testing to assess their effectiveness and safety. Healthcare practitioners in the UK can get advice from NICE on how to employ medical innovations like cardiac stents. Based on the available evidence, the organisation assesses the clinical and financial viability of medical devices and recommends their usage.

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 cUKity 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.