Market drivers that vary geographically account for some big differences in the distribution of the coronary stent market across the currently available stent types, and these differences will continue when bioabsorbable stents (and others) are introduced to the market over the next few years.
The local market forces dictating these differences include:
- Regulatory timelines in one market that can delay new product introductions by a year or more compared to another market
- Regulatory control that either limits or facilitates introduction of local market ("me too") stent developers.
- Differences in clinical adoption of advanced technologies driven by local practice patterns
- Price sensitivities that can vary considerably from one geography to the next, with the potential to severely restrict the adoption of advanced technologies and/or force price reductions
The coronary stent market illustrated distinct differences in market segmentation on the basis of geography, challenging assumptions of the expected market shares of current and potential stent manufacturers competing in each local market. One of the most distinct differences is the relative adoption of drug-eluting stents in China (captured in Asia/Pacific, below) versus either the U.S. or Europe.
Source: MedMarket Diligence, LLC. Report #C245, "Worldwide Coronary Stent Market, 2008-2017."