Stingray Device Market driven by Rising prevalence of Chronic Diseases
The stingray device market has seen significant growth in recent years owing to the rising need for better management of chronic diseases. Stingray devices are used for various cardiovascular procedures such as treating complex coronary lesions or blocked arteries. Key advantages of stingray devices include their ability to cross total chronic occlusions safely and provide excellent scaffolding of complex lesions. Their unique design helps physicians deliver drugs directly into blocked arteries.
The global stingray device market is estimated to be valued at US$ 180.87 Mn in 2024 and is expected to exhibit a CAGR of 5.5% over the forecast period from 2024 to 2031.
The key drivers fueling the Stingray Device Market Demand include rapidly increasing prevalence of chronic diseases like diabetes, cancer and cardiovascular diseases. As per WHO, cardiovascular diseases are the leading cause of deaths globally. This has resulted in the growing need for effective treatment of complex coronary lesions. Stingray devices offer distinct advantages over balloon catheters and bare metal stents in crossing chronic total occlusions safely. Their unique design enables maximized deliverability and scaffolds complex lesions effectively. Increasing clinical research validating effectiveness of stingray devices is also driving physician adoption and market growth.
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