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Coronary Sinus Reducer Market
The coronary sinus reducer is a stainless steel hourglass-shaped balloon-expandable device that increases pressure in the coronary sinus by narrowing the arteries, thus reorganizing blood into ischemic myocardium. The coronary sinus reducer is used for treating refractory angina and myocardial ischemia. In a 2007, the safety and feasibility study evaluated the effect of coronary sinus reducer in 15 patients with coronary artery disease and refractory angina, and all procedures were successful. The global coronary sinus reducer market is gaining popularity due to the wide range of product availability in the market. The global coronary sinus reducer market is likely to grow during the forecast period with the rising prevalence of refractory angina and myocardial ischemia and increasing technological advancements in the devices.
The Covid-19 pandemic has impacted the coronary sinus reducer market. Due to the global restrictions, many regions are facing shortage of the devices, which is hampering the growth of the global coronary sinus reducer market. The COVID-19 pandemic has brought on many aspects, like falling business assurance, uncertainty about future, massive slowing of the supply chain, and others. Also, due the increased focus on coronavirus, the concern of people towards other diseases is reduced, flow of patients in the hospitals and clinics is largely impacted.
The increasing demand for treating coronary artery disease (CAD) is the major factor driving the growth of the global coronary sinus reducer market, since coronary artery disorder is the leading cause of most of deaths globally. The increasing adoption of sedentary lifestyle, obesity, smoking, hereditary factors and alcohol consumption is further fueling the global coronary sinus reducer market growth. The mortality rate of CAD has been rapidly rising which is driving the attention of researchers and clinicians globally. There has been many technological advancements in stents, innovation of next generation coronary catheters and design of the guide wires. Also, the availability of coronary guide wires (nitinol based and steel based) by various manufacturers across the globe is also increasing the treatment scope of the coronary diseases.
However, the high cost of the devices and stringent regulations by government authorities are likely to restrain the growth of the global coronary sinus reducer market.
The global coronary sinus reducer market has been segmented on the basis of indication and end-user.
Based on the indication
|Based on the end-user||
Based on the indication, the refractory angina segment holds the major share in the global coronary sinus reducer market due to the rising cases of refractory angina across the world. Based on the end-user, hospitals segment is the most profitable segment and is expected to maintain its position during the forecast period due to the advanced medical facilities.
North America is expected to dominate the global coronary sinus reducer market due to the technological advancement, and higher prevalence rate of cardiac disorders in the region. It has been reported that the incidence of newly diagnosed refractory angina’s patients in the U.S. is around 50,000 to 100,000 per year. North America is expected to be followed by Europe, due to the increasing medical devices industries in the region. Asia-Pacific is expected to have a significant growth in the global coronary sinus reducer market over the forecast period due to the increasing awareness of coronary sinus reducer, changing lifestyle that leads to various cardiac disorders and rising healthcare expenditure. Also, an increasing population is expected to boost the market in countries like India and China.
The key participants operating in the global coronary sinus reducer market are: Abbott Laboratories, B. Braun, Biosensors International Group, Ltd, ASAHI INTECC Company Limited, Boston Scientific Corporation, C. R. Bard, Inc., Comed BV, Cook, Merit Medical System, Meril Lifesciences, Cordis Corporation, Medtronic PLC, Terumo Corporation, and others.