As per our research report, the global coronary stent market size was valued at USD 9.58 billion in 2022 and is estimated to be growing at a CAGR of 7.6% from 2022 to 2027.
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In the treatment of coronary heart disease, a coronary stent is a tube-shaped device inserted in coronary arteries that provide blood to the heart and keeps the arteries open. It is used in the procedure of percutaneous coronary intervention. Additionally, coronary stents are used in almost 90% of PCI procedures. Stents have been demonstrated to improve survivability by minimizing adverse outcomes in patients suffering from acute myocardial infarction.
Technological improvements, an increase in the frequency of percutaneous coronary intervention (PCI) operations, an increase in the burden of CAD, an increase in the desire for minimally invasive procedures, and an increase in the elderly population are all propelling this market forward. Shorter hospital stays and quicker recovery times are also advantages of employing upgraded and smaller coronary stents. Furthermore, significant corporations are pouring more money into developing novel bioresorbable scaffolds (BRS) technology. Another key aspect likely to propel the market is the urgent need to improve patient compliance.
Developing bioresorbable vascular scaffolds (BVS) and penetration into emerging markets provide considerable market potential opportunities. Rising demand for coronary stents in emerging nations and increased knowledge of the availability of appropriate insurance and reimbursement policies are likely to provide lucrative growth opportunities for the Coronary Stents Market. In addition, additional local and regional companies are expected to enter the market in the future, accelerating the development of self-expandable coronary stents. These have proven to be quite effective in treating myocardial infarction, resulting in increased demand.
Alternative CAD treatment options, strict product approval rules, and frequent product failure and recall incidents may hamper the market’s growth throughout the forecast period. In addition, despite the growing need for therapeutic options, the adverse side effects associated with coronary stent use may limit growth. As a result, the issues and challenges are the key restrictions on development.
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SEGMENTS COVERED UNDER THIS REPORT:
By Type:
- Bare Metal Stents
- Drug-Eluting Stents
- Bioabsorbable Stents
By Mode of Delivery:
- Balloon Expandable Stents
- Self-Expanding Stents
By Material:
- Metallic stents
- Cobalt chromium
- Platinum chromium
- Nickel-titanium
- Stainless steel
- Other Stents
By End-User:
- Hospitals
- Cardiac Centres
- Ambulatory Surgical Centres
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
KEY MARKET INSIGHTS:
Based on the mode of delivery, in 2021, the balloon-expandable stents segment will have the largest share. The segment is likely to rise as regulatory approval for balloon-expandable stents grows. Unlike other stainless steel with a closed-cell design for tight scaffolding, the balloon-expandable are made of cobalt-chromium struts. After coronary angioplasty, these stents are routinely used to prevent coronary restenosis. Furthermore, the advantages of balloon-expandable stents, such as higher radial stiffness and more precise insertion, critical in bifurcation lesions, will drive the Stents market sales.
Based on the end-user, the hospital segment dominated the global coronary stents market size, and this trend is expected to continue during the forecast period, owing to an increase in the prevalence of coronary artery diseases, government initiatives to develop medical infrastructure, increased awareness of disease treatment and management, and an increase in a sedentary lifestyle. Hospitals provide better care because qualified medical professionals and nursing staff are available to offer excellent post-surgery care. Furthermore, the number of stenting procedures is projected to rise with an increase in sedentary behavior, poor diet, and unhealthy habits such as smoking, drinking, and using tobacco. Additionally, the market for Stents is likely to benefit from increased attention on improving healthcare infrastructure, notably hospitals.
Due to an increase in the number of cardiac centers, an increase in the frequency of coronary artery disease, and an increase in the number elderly population, the Coronary Stents Market Opportunity in Asia-Pacific is booming. Furthermore, aging, which causes the weakening of blood vessels and heart muscles, makes the senior population more likely to acquire coronary artery disorders, supporting regional growth. Furthermore, the market is expected to develop due to an increase in stent implantation procedures and a surge in stent usage. Furthermore, rising health-care spending in Asia-Pacific developing countries drives the market growth. This rapid expansion reflects increasing government and private healthcare spending.
Because of the dominance of the leading firms in the worldwide industry, North America is expected to have the most significant market share for coronary stents. There is also an aging population in the region, an increase in the prevalence of cardiac disease, and technological improvements. Other reasons, such as a favorable reimbursement landscape, have also contributed to the growth of the North American coronary stent market.
Medtronic plc (Ireland), Abbott Laboratories (U.S.), Boston Scientific Corporation (U.S.), Biosensors International Group, Ltd. (Singapore), BIOTRONIK SE & Co. KG (Germany), B Braun Melsungen AG (Germany), TERUMO CORPORATION (Japan), STENTYS SA (France), MicroPort Scientific Corporation (China), Meril Life Sciences Pvt. Ltd. (India), Vascular Concepts (India) and Translumina GmbH (Germany) are a few of the major companies operating in the global coronary stent market profiled in this report.
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Browse Regional Reports:
- US Coronary Stent Market
- North America Coronary Stent Market
- Europe Coronary Stent Market
- APAC Coronary Stent Market
- Latin America Coronary Stent Market
- MEA Coronary Stent Market
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