Coronary Stent Market - Application Analysis, Trends and Industry Research Report

The global coronary stents market is expected to reach USD 15.18 billion by 2024, according to a new report by Grand View Research, Inc. Rising prevalence of coronary artery diseases, supportive government reforms and increasing awareness are contributing factors for lucrative growth of coronary stents

The latest treatments available in cardiac care are expected to increase the life span of the elderly population subset. This demographic is characterized with low immunity levels and are prone to chronic diseases including CVDs. Thus, increasing geriatric population is thereby considered as a high impact rendering driver for the growth of this industry over the forecast period.

The coronary stent market is driven by reimbursement coverage provided by the general public Center for Medicare & Medicaid Services (CMS) and private payers. The coverage is availed under national coverage determination for carotid artery stenting, including products and service provider. The providers require completing certain conditions for coverage, all facilities to be certified by CMS to perform CAS procedures.

Grasp advance knowledge on global coronary stent industry through in-depth research insights: https://www.grandviewresearch.com/research-insights/coronary-stents-market-biodegradable-stents-expected-to-grow-progressively

Reimbursement of medical devices is limited to the developed regions of Asia Pacific. For instance, Japan’s National Health Insurance system provides reimbursement for all medical devices. However, some countries in the Asia Pacific region have no scope for reimbursement and the patients themselves incur the expenses while the unprivileged ones often forego treatment, thus restraining the growth of this vertical in certain countries.

Further key findings from the study suggest:

• DES held lucrative share in 2015. Avoidance of complications, ease of procedures and comfort to the patient are factors responsible for increased usage rate.
• BVS are anticipated to growth exponential over the forecast period due to the added advantages such as restoring vasomotor function, and fewer complications offered by the product.
• North America held substantial share in global coronary stents market. Sophisticated healthcare system, well planned reimbursement program, high healthcare expenditure and large pool of target population are responsible for the region’s substantial share.
• Asia Pacific is anticipated to exhibit lucrative growth over the forecast period. Economic developments and government reforms especially in countries like India and China are supporting the growth of this region. 

Grand View Research has segmented the coronary stents market on the basis of product and region:

Global Coronary Stents Product Outlook (Revenue, USD Million, 2013 - 2024)

• Bare Metal Stents (BMS)
• Drug Eluting Stents
• Biodegradable
• Non-Biodegradable
• Bioresorbable Vascular Scaffold (BVS)

Coronary Stents Regional Outlook (Revenue, USD Million, 2013 - 2024)

• North America
• Europe
• Asia Pacific
• Latin America
• MEA

Global Demand for the Pharmacy Automation Devices and Top Companies Operating in this Industry

Pharmacy automation is the mechanization or automation of tasks and processes performed in pharmacy or other health care settings; it includes process like medication dispensing, packaging, labeling, storage and retrieval systems and table top counters. The Economic downturn is forcing a lot of companies to automate the process in order to reduce the cost incurred in paying wages to the employees. 

Pharmacy automation involves automation and mechanization of tasks that include distribution and handling medication processes carried out in heath care centers and specialty pharmacy centers. The global pharmacy automation devices industry is projected to grow at a CAGR of 7.3% from 2014 to 2020 and reach over USD 8.99 billion.

 

Increased competition among pharmaceutical companies rise in demand for pharmaceutical products, technological advancement, precise robotic tools are contributing towards the growth of this budding market. Furthermore, the need for increasing the efficiency of work within the pharmacies, productivity, system integration, lowering of medication errors, and in order to provide additional time to pharmacists and clinicians for patient care are the key drivers for the growth of pharmacy automation devices market.

Automation systems such as packaging and labeling systems, medication dispensing system, storage and retrieval systems, table-top counters and compounding systems are employed in order improve the efficacy of regular jobs within pharmacies. The market is expected to grow owing to features including system integration that increases productivity and time to clinicians for patient care, thereby lowering medication errors.

Rising demand for pharmaceutical products, progressively growing technology and demand for precise robotic equipment & tools to perform operations at a faster rate are expected to be the key factors for market growth. Untapped growth opportunities in countries such as Brazil, China, and India coupled with escalating demand for automation in pharmacy and healthcare operations is expected to drive growth over the forecast period.

The market was dominated by automated medication dispensing systems in 2013. It accounted for a share of over 47.8% owing to growing demand for accurate medication dispensing systems. Automated dispensing systems have the ability to reduce significantly error rates and the ability to dispense hands-free. They provide storage, recording of medication, distribution to resident care and computer controlled dispensation.

Automated compounding systems are anticipated to grow rapidly at a CAGR of 8.4% from 2014 to 2020 owing to an increasing demand for mixing of medication and substantial decrease in total time to complete a dose.

The existence of IT healthcare systems and high rate of penetration in healthcare and pharmaceutical units resulted in North America occupying the largest regional market in 2013. It accounted for about 54.8% of the market revenue. Increasing healthcare overheads and R&D relevant to pharmacy automation devices are few factors responsible for its market share.

Asia Pacific is likely to grow at a CAGR of over 9.0% during the forecast period and is the most lucrative regional markets majorly due to improving healthcare infrastructure in emerging economies of China and India. Easy access available to new entrants including multinational pharmaceutical companies and distributors in this region coupled with the introduction of healthcare reforms in these countries is expected to drive market growth.

Key industry players include AmerisourceBergen Corporation, CareFusion Corporation, Accu-Chart Healthcare, ForHealth Technologies, GSE Scale Systems, Fulcrum Inc,McKesson Corporation, Innovation PharmaAssist Robotics, Pearson Medical Technologies, Health Robotics SRL, Kirby Lester, MedDispence, Pyxis Pharmacy Automation Systems, Medacist, MTS Medication Technologies, OmnicellInc, Cerner Corporation, Rice Lake Weighing Systems, Baxter International Inc., Aesynt Inc., ScriptPro LLC, Parat Systems Pharmacy Automation, Yuyama Co. Ltd, Swisslog Holding Ltd,Talyst Inc. and ScriptPro LLC.

Access full research report on global artificial pharmacy automation devices market: 

http://www.grandviewresearch.com/industry-analysis/pharmacy-automation-market