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Home ➤ Life Science ➤ Medical Devices & Supplies ➤ Coronary Stents Market
Coronary Stents Market
Coronary Stents Market
Published date: Nov 2023 • Formats:
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  • Home ➤ Life Science ➤ Medical Devices & Supplies ➤ Coronary Stents Market

Global Coronary Stents Market by Type (Drug-eluting Stents, Bare-metal Coronary Stents), by Deployment (Self Expandable and Balloon Expandable), by End User (Hospitals, Ambulatory Surgical Centers), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

  • Published date: Nov 2023
  • Report ID: 15702
  • Number of Pages: 233
  • Format:
  • Overview
  • Table of Contents
  • Major Market Players
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  • Quick Navigation

    • Report Overview
    • Key Takeaways
    • Product Analysis
    • Deployment Analysis
    • End-User Analysis
    • Key Market Segments
    • Drivers
    • Restraints
    • Opportunity
    • Trends
    • Regional Analysis
    • Key Regions
    • Key Players Analysis
    • Recent Development
    • Market Key Players
    • Report Scope

    Report Overview

    The Global Coronary Stents Market size is expected to be worth around USD 24.0 Billion by 2032 from USD 12.5 Billion in 2022, growing at a CAGR of 6.9% during the forecast period from 2022 to 2032.

    During the treatment of coronary artery disease, a coronary stent (a tube-shaped device) is placed in the coronary arteries that supply blood to the heart and keep the arteries open. A procedure known as percutaneous coronary intervention makes use of it.

    Additionally, more than 90% of PCI procedures involve the usage of coronary stents. Stents have been shown to improve survival rates in patients suffering from acute myocardial blockage by reducing adverse events and reducing chest pain, which is also known as angina.

    Coronary Stents Market Value

    *Actual Numbers Might Vary In The Final Report

    Key Takeaways

    • The global coronary stents market is expected to reach USD 24.0 billion by 2032.
    • In 2022, the market was valued at USD 12.5 billion.
    • The market is projected to grow at a CAGR of 6.9% from 2022 to 2032.
    • Bioabsorbable stents accounted for 33.2% of revenue in 2022 based on product type.
    • Self-expanding stents dominate the market and are expected to grow at a CAGR of 29% from 2023 to 2032.
    • North America had the highest market revenue share of 39.4% in 2022.
    • Europe accounted for 28.1% of the market revenue in 2022.
    • Factors driving market growth include a rising geriatric population and technological advancements.
    • Funding policies in developed countries have increased investment in advanced healthcare technologies.
    • The availability of alternative treatments for coronary artery disease contributes to market growth.
    • Continuous improvements in coronary stents, such as reduced strut thickness and advanced technology, drive market expansion.
    • Market growth is hindered by factors like product failures, recalls, and strict government regulations.

    Product Analysis

    Drug-eluting, Bare-Metal, and Bio Absorbable Stent are the main products of Coronary Stent

    Based on type, the Global Coronary Stent is Segmented into Drug-Eluting Stents, bare-metal, and Bioabsorbable stents. A bioabsorbable segment is expected to witness the highest growth during the forecast period. The drug-eluting stents segment category was the most popular product in the global market, and it is anticipated that this trend will continue throughout the forecast period. This is because it has the important property of stopping restenosis, or the growth of scar tissue in the arterial wall after surgery.

    Drug-eluting stents deliver an anti-proliferative drug to the target injury to stop excessive neointima growth. It consists of an anti-restenosis medication, a polymer covering, and a typical metallic stent. After the drug-eluting stent is implanted, the anti-retinoic medication is mixed into the polymer and released over several weeks or months. For percutaneous coronary intervention with stenting, drug-eluting stents are preferred to bare-metal stents and other stent types due to their significantly lower risk of target vessel revascularization. The drug-eluting stent is anticipated to benefit greatly from this development.

    Deployment Analysis

    The market for coronary stents is divided into self-expandable and balloon-expandable segments based on deployment. The estimated dominance of self-expanding stents in the market is primarily due to clinically proven and emerging local and regional manufacturers worldwide.

    In addition, the novel self-expanding stents demonstrate that they can be used to treat acute myocardial infarction and that they actively follow the artery’s expansion with nearly perfect apposition.

    As a result, self-expandable stent clinical efficacy will significantly drive segment growth over the forecast period. During the analysis period, it is anticipated that the balloon-expandable market will experience secure growth.

    The market’s expansion will be significantly boosted by the rising incidence of heart disease and expanding research into the creation of medical stents with advanced technology.

    Coronary Stents Market

    End-User Analysis

    Hospital Segment Dominating the Global Coronary Stents Market Size 

    The market is divided into Hospitals, Ambulatory Surgical Centers, and Others based on the end user. The hospital segment is anticipated to continue dominating the global Coronary Stents Market Size during the forecast period due to the rising prevalence of coronary artery diseases, government initiatives for the development of medical infrastructure, increased awareness of disease treatment and management, and an increase in sedentary lifestyles.

    The segments include both public and private medical facilities that treat patients. Only surgeries that take place in hospitals are ambulatory. Due to hospital policies and budgets, the need for more surgical rooms and difficulties in acquiring new equipment both increase. Ambulatory surgical centers are being established as a result of these factors. The market’s expansion is also fuelled by an increase in the number of stent implantation procedures and their global use.

    Key Market Segments

    By Product and Service

    • Drug-eluting Stents,
    • Bare-metal Coronary Stents,
    • Bio absorbable Stents

    By Deployment

    • Self-Expandable
    • Balloon Expandable

    By End User

    • Hospitals
    • Ambulatory Surgical Centers
    • Other

    Drivers

    Increasing Prevalence of Coronary Artery Disease to Augment Market Growth

    An increase in the prevalence of coronary artery diseases, improved patient outcomes with stenting, and the emergence of new trends are some of the factors driving growth in the market for coronary stents. However, the availability of other treatments for coronary artery diseases and the high cost of coronary stent procedures impede the expansion of the market. On the other hand, it is anticipated that the Coronary Stents Market Forecast period will benefit from rising demand for coronary stents in developing nations and increased awareness of the availability of appropriate insurance and reimbursement policies.

    The rising incidence of cardiovascular diseases, such as stroke and heart attack, as well as an expanding geriatric population that is at greater risk for these cardiac diseases, are two of the primary driving forces behind the expansion of the coronary stents market. The expanding global elderly population and the development of stent technology and materials are additional factors that have the potential to significantly benefit the coronary stent market.

    Due to a number of factors, including the growing elderly population and the rising prevalence of coronary artery disease, the global coronary stent market is a stable industry. Market expansion is also supported by rising disposable income and expanding government initiatives. In addition, the expansion of technological advancements, such as the development of the 3D printing method, may present an excellent chance for market expansion. Additionally, the expanding market is aided by rising disposable income and the rising use of minimally offensive procedures.

    Restraints

    Incompetent Reimbursement Scenario and Stringent Regulatory.

    Despite an increase in demand for a treatment solution, side effects associated with the use of coronary stents might hinder growth up to a certain extent. Moreover, the stringent government regulations pertaining to product approval will restrict the growth of the market.

    Hence the mentioned factors are the main reason to restrict the market growth. It is anticipated that the stringent regulatory clearance process for coronary stents and the rising number of product calls over the forecast period will impede the studied market’s expansion.

    Opportunity

    Business Expansion Opportunities in Developing Countries

    The expanding healthcare sectors in a number of emerging economies, including China, India, Brazil, and South Africa, are also contributing to the expansion of the coronary stent industry. The coronary stents utilize novel growth opportunities. To foster market expansion, it is essential to increase investment in research and development. The need to improve the healthcare industries in these nations is driven by the rapidly expanding geriatric population, high patient volumes, and rising awareness among the general public.

    As a result, governments in these economies are increasing their investments in healthcare infrastructure and facilities. Other development strategies for gaining a competitive advantage in the global market include regional expansion, new product development, industry collaboration, assignment development, and mergers and acquisitions. The increasing investment in this sector is anticipated to provide market growth opportunities due to a large number of coronary stent applications.

    Trends

    Advanced Technology Will Accelerate Market Expansion in HealthCare Industry

    Continuous improvements to coronary stents have primarily focused on minute changes like reducing stent strut thickness, making stents more deliverable in tortuous vessels, and launching stents with a longer length and smaller diameter. To address coronary interventions, improvements include increased flexibility, a thinner profile, a smaller diameter, and longer lengths.

    Therefore, such a change to simplify procedures and enhance the patient experience will support market expansion. In addition, technological advancements in the healthcare industry will accelerate market expansion.

    Regional Analysis

    North America Dominated Largest Shares in the Coronary Stent Market 

    The demand for healthcare services, an increasing number of cardiovascular disease patients, and an aging North American population are the primary factors driving the world’s largest market. With a share of 39.4%, North America dominated the coronary stent market and contributed the most revenue.

    In the coming years, it is anticipated that this pattern will continue. Obesity and other cardiovascular diseases, such as ischemic heart disease, stroke, and so on, can result from living a sedentary lifestyle are primarily driving the coronary stent market in North America.

    The use of biodegradable materials and technological advancements in coronary stent technologies like drug-eluting stents have also contributed to the market’s expansion. The coronary stents market opportunity in Asia-Pacific is expanding significantly as a result of an increase in the geriatric population, an increase in the prevalence of coronary artery disease, and an increase in the number of cardiac centers. The elderly population is more likely to develop coronary artery diseases as a result of aging, which weakens blood vessels and heart muscles.

    This supports regional growth. An increase in the number of stent implantation procedures and their widespread use also contribute to the market’s expansion. In addition, as healthcare costs rise in developing nations in the Asia-Pacific region, the market expands. Both the public and private sectors have been spending more on health care, as evidenced by this rapid rate of growth.

    Coronary Stents Market Region

    Key Regions

    North America

    • The US
    • Canada
    • Mexico

    Eastern Europe

    • Russia
    • Poland
    • The Czech Republic
    • Greece
    • Rest of Eastern Europe

    Western Europe

    • Germany
    • France
    • The UK
    • Spain
    • Italy
    • Portugal
    • Ireland
    • Austria
    • Switzerland
    • Benelux
    • Nordic
    • Rest of Western Europe

    APAC

    • China
    • Japan
    • South Korea
    • India
    • Australia & New Zealand
    • Indonesia
    • Malaysia
    • Philippines
    • Singapore
    • Thailand
    • Vietnam
    • Rest of APAC

    Latin America

    • Brazil
    • Colombia
    • Chile
    • Argentina
    • Costa Rica
    • Rest of Latin America

    Middle East & Africa

    • Algeria
    • Egypt
    • Israel
    • Kuwait
    • Nigeria
    • Saudi Arabia
    • South Africa
    • Turkey
    • United Arab Emirates
    • Rest of MEA

    Key Players Analysis

    Elixir Medical Corporation, Biosensors International Group, Ltd., and Biotronik SE & Co. KG.DES’s dominance as the preferred PCI device is aided by the ongoing development and launch of new devices. In the market, competitors like Medtronic Resolute Onyx, Boston Scientific’s Synergy, and Abbott Laboratories continue to develop and launch cutting-edge DES. This more recent DES offers improved deliverability, improved stent integrity, and lower rates of complications when compared to devices of the previous generation.

    Recent Development

    • In August 2022: Following the CE Mark’s approval, Medtronic introduced the Onyx Frontier drug-eluting stent in Europe in August 2022.
    • In May 2022: The FDA granted Medtronic plc approval for the Onyx Frontier drug-eluting stent. The stent’s delivery system was developed to improve the stent’s deliverability and acute performance

    The following are some of the major players in the global Coronary Stents Market

    • Abbott
    • Medtronic
    • Boston Scientific Corporation
    • Terumo Corporation
    • B Braun Melsungen AG
    • Biotronik
    • Stentys SA
    • MicroPort Scientific Corporation
    • R. Bard, Inc
    • Cook Medical
    • Other Key Players

    Market Key Players

    The market for coronary stents is segmented by a large number of local and regional players. Market players face intense competition from major market players, particularly those with extensive distribution networks and well-known brands. Companies have developed a variety of expansion strategies, including product launches and partnerships, to stay ahead of the market.

    Report Scope

    Report Features Description
    Market Value (2022) USD 12.5 Billion
    Forecast Revenue (2032) USD 24.0 Billion
    CAGR (2023-2032) 6.9%
    Base Year for Estimation 2022
    Historic Period 2016-2021
    Forecast Period 2023-2032
    Report Coverage Revenue Forecast, Market Dynamics, Competitive Landscape, Recent Developments
    Segments Covered By Type (Drug-eluting Stents, Bare-metal Coronary Stents, Bioabsorbable Stents); by Deployment (Self-expandable and Balloon Expandable); by End User (Hospitals, Ambulatory Surgical Centers, Other)
    Regional Analysis North America – The US, Canada, & Mexico; Western Europe – Germany, France, The UK, Spain, Italy, Portugal, Ireland, Austria, Switzerland, Benelux, Nordic, & Rest of Western Europe; Eastern Europe – Russia, Poland, The Czech Republic, Greece, & Rest of Eastern Europe; APAC – China, Japan, South Korea, India, Australia & New Zealand, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, & Rest of APAC; Latin America – Brazil, Colombia, Chile, Argentina, Costa Rica, & Rest of Latin America; Middle East & Africa – Algeria, Egypt, Israel, Kuwait, Nigeria, Saudi Arabia, South Africa, Turkey, United Arab Emirates, & Rest of MEA
    Competitive Landscape Abbott, Medtronic, Boston Scientific Corporation, Terumo Corporation, B Braun Melsungen AG, Biotronik, Stentys SA, MicroPort Scientific Corporation, C. R. Bard, Inc., Cook Medical, Other Key Players
    Customization Scope Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements.
    Purchase Options We have three licenses to opt for: Single User License, Multi-User License (Up to 5 Users), Corporate Use License (Unlimited User and Printable PDF)

    Frequently Asked Questions (FAQ)

    How much is the Global Coronary Stents Market worth?

    Global Coronary Stents Market market size is Expected to Reach USD 24.0 Bn  by 2032.

    What was the Market Segmentation of the Coronary Stents Market?

    By Type (Drug-eluting Stents, Bare-metal Coronary Stents, Bioabsorbable Stents); by Deployment (Self-expandable and Balloon Expandable); by End User (Hospitals, Ambulatory Surgical Centers, Other)

    What is the CAGR of Coronary Stents Market?

    The Coronary Stents Marketis growing at a CAGR of 6.9% during the forecast period 2023 to 2033.

    Who are the major players operating in the Coronary Stents Market?

    Abbott, Medtronic, Boston Scientific Corporation, Terumo Corporation, B Braun Melsungen AG, Biotronik, Stentys SA, MicroPort Scientific Corporation, C. R. Bard, Inc., Cook Medical, Other Key Players

    Which region will lead the Global Coronary Stents Market?

    North America is estimated to be the fastest-growing region during the forthcoming years.

    Coronary Stents Market
    Coronary Stents Market
    Published date: Nov 2023
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    • Abbott Laboratories
    • Medtronic
    • Boston Scientific Corporation Company Profile
    • Terumo Corporation Company Profile
    • B Braun Melsungen AG
    • Biotronik
    • Stentys SA
    • MicroPort Scientific Corporation
    • R. Bard, Inc
    • Cook Medical
    • Other Key Players
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