Reports Description
According to Custom Market Insights (CMI), The Global Coronary Stents Market is expected to grow at a compound annual growth rate of 3.3% during the forecast period from the year 2022 to the year 2030, and the market size was at USD 8.8 billion in the year 2021 which is expected to reach USD 15.4 billion by the end of 2030.
The increasing geriatric population across the globe and the different types of diseases associated with the aging population shall be the factors that will increase the demand for coronary stents. The geriatric population suffers from cardiovascular diseases, obesity, diabetes, and complex lesions, and these shall create a demand for coronary stents in the coming years. The increased cases of coronary heart disease have been one of the major causes of death across the world. About 17.9 million people suffering from cardiovascular diseases succumbed to death in recent years, and the number will continue to grow during the forecast period.
The increasing cases of coronary heart disease and fatalities caused due to the disease shall be a driving factor for the market’s growth in the coming years. Increased awareness regarding the availability of these treatments and their success rate is expected to drive market growth in the coming years. There is a growing demand for coronary stent devices in the market. These stents are used in most procedures of the heart, and there was a greater demand created for coronary stents during the outbreak of the COVID-19 pandemic.
As different types of advancements in technology have made the market lucrative, the demand is expected to grow well during the forecast period. Constant research and development have been instrumental in launching the stents that are fully dissolving. These stents are used in most heart surgeries, and these stents were launched in the market in recent years and had secured approval from the FDA. The increasing cases of coronary artery diseases shall create a greater demand for these treatments.
The availability of bio-engineered stents and the stents of dual therapy shall be instrumental in the growth of the demand for this treatment. Other factors that are expected to play an important role in the market’s growth are the coatings used, the material, and the construction used in the technology.
Most market players have gained an advantage over the years due to constant research and development as new innovative products are launched in the market. Angioplasties and bypass surgeries make use of these coronary stents. Although the demand for this technology is growing, there are a few side effects that are associated with the treatment, due to which the market growth shall be hindered in the coming years. With the existence of the stringent policies adopted by the government and the various regulations that are offered in the market, market growth will be hindered in the coming years.
During the outbreak of the pandemic, the disrupted supply chains and shortage of raw materials had a negative impact on the market’s growth. The demand for coronary stents had dropped during the initial time of the COVID-19 outbreak. But the overall impact was negligible as eventually, the procedures that were delayed were lined up, and the market grew.
Growth Factors
Increasing cases of coronary artery diseases and good results provided by using coronary stents in the treatment of patients shall create a greater demand for the market during the forecast period. Constant research and development activities have provided innovative products in recent years, and the market is expected to grow well during the forecast period. Constant awareness drive about the benefits of using coronary stent technology shall drive market growth even in developing countries across the globe.
The existence of favorable insurance policies or reimbursement policies will be supportive of the growth of the market in the coming years. Many opportunities for the growth of the market shall be provided in the developing nations of the world. About 90% of percutaneous coronary intervention procedures make use of coronary stents. Other invasive surgeries on the heart also make use of these stents on a large scale. The use of coronary stents does not cause any big incisions and they are considered to be minimally invasive.
The demand for these procedures will continue to grow even during the forecast period during the various benefits provided by the technology. It reduces the amount of surgical trauma, the pain felt by the patient is lesser as compared to the other alternatives, and reduced scarring, and as the procedure is minimally invasive the stay at the hospital is also reduced. The increasing geriatric population across the globe and the various heart conditions associated with the aging population shall be major reasons for the growth of the market during the forecast period.
As the constant research and development activities have provided the stents that are fully dissolving the market shall see growth in the coming years. The launch of the bio-engineered stents shall also be instrumental for the growth of the market. The coatings in the construction and the material used in this technology will play a major role in the growth. Most of the market players are focusing on various development strategies through partnerships.
The sedentary lifestyle of people and increasing habits of eating while watching TV shall be other reasons for the growing demand for this technology. Increased levels of stress due to sedentary lifestyles will increase the number of cardiovascular diseases in the coming years. The growing demand for minimally invasive surgeries in developed, as well as developing economies and the increased purchasing power, shall lead to the growth of the market for coronary stents during the forecast period.
Segmental Insights
Coronary stents market segment on the basis of the Product
On the basis of the product, the drug-eluting stents segment will drive market growth in the coming years. This segment is expected to have a dominant position during the forecast period. The availability of novel drugs in this segment leads to increased distribution of the product. Apart from this segment, the bioresorbable stent is also expected to grow well during the forecast period. Increased cases of cardiovascular diseases shall create a demand for these stents. Increased cases of the aging population across the globe shall boost the market.
Coronary stents market segment on the basis of the Deployment
On the basis of deployment, the self-expandable stent segment will grow well during the coming years. Over the years it has been noted that the efficiency of this type of deployment has been extremely good, due to which the market is expected to grow well in the coming years. There’s a growing demand for this type of deployment across many countries of the globe. As these stents provide better efficiency in the performance of the procedures and enhanced results after the procedures, the market growth for this segment is expected to be good during the forecast period. The balloon expandable segment will also see steady growth in the coming years due to the increasing geriatric population and increased cases of heart disease.
Coronary stents market report on the basis of the End User
On the basis of the end user, the hospital segment is expected to dominate the market in the coming years. This segment has had the largest market share in the past and it is expected to grow well in the coming years. Most of the surgeries like angioplasty are performed in the hospital infrastructure. The availability of the best facilities at the hospital shall be instrumental in the growing demand for these procedures in the hospitals.
Report Scope
| Feature of the Report | Details |
| Market Size in 2021 | USD 8.8 billion |
| Projected Market Size in 2030 | USD 15.4 billion |
| CAGR Growth Rate | 3.3% CAGR |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Prominent Players | Medtronic plc, Cook Medical, B. Braun Melsungen AG, Terumo Corporation, Vascular Concepts, STENTYS SA, MicroPort Scientific Corporation, Meril Life Sciences Pvt. Ltd, Transluminal , Biosensors International Group Limited, Abbott, Boston Scientific Corporation, BIOTRONIK SE & Co. KG, and Others |
| Key Segment | By Product, By Deployment, End User, and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors, and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfill your requirements for research. |
Regional Insights
The market for coronary stents is expected to grow well in the North American region. This region has had a share of about 32% in the past in terms of revenue and it is expected to grow well in the coming years. As the maximum population in the North American region leads an extremely sedentary lifestyle, there has been an increase in the cases of obesity and other cardiovascular diseases.
Increased numbers of ischemic heart diseases, heart attacks as well as strokes shall create demand for coronary stents in the coming years for the North American region. The presence of the various market players in the North American region which constantly focus on research and development activities have played an instrumental role in providing better advancements in technology and will drive the market growth during the forecast period.
The innovative products offered to the market like the entirely dissolving stents and the use of biodegradable materials for the making of these stents shall drive market growth in the coming years. Apart from the North American region, the Asia Pacific region will also have a good demand for coronary stents in the coming years. This technology will generate good revenue for this region. Increased spending on healthcare facilities and the growth of the economy of various nations in the Asia Pacific region will drive market growth. Constant awareness regarding the benefits of such procedures and the recent regulatory policies shall be instrumental in the growth of the market.
The presence of insurance facilities and favorable reimbursement policies in the nations like South Korea and Australia will drive market growth. The government of various nations in the Asia Pacific region have increased the number of investments made for developing the healthcare system. These initiatives focused on providing affordable services to consumers, and the affordable prices have played a great role in the development of the market for China and India. In order to cut down the prices for these procedures,’ the government is engaged in taking initiatives that enable the supply of the products directly from the manufacturer and this will drive the market growth for China.
Key Players
- Medtronic plc
- Cook Medical
- Braun Melsungen AG
- Terumo Corporation
- Vascular Concepts
- STENTYS SA
- MicroPort Scientific Corporation
- Meril Life Sciences Pvt. Ltd
- Translumina
- Biosensors International Group Limited
- Abbott
- Boston Scientific Corporation
- BIOTRONIK SE & Co. KG
Recent Development
- A partnership between Chansu Vascular Technologies And cardiovascular systems was announced in the year 2021 and this partnership shall focus on the development of the coronary drug-coated balloon and the peripheral drug-coated balloon which shall be used in the Stents that are drug-eluting.
Segments covered in the report
By Product
- Bare metal stents
- bioresorbable vascular scaffold
- Drug-eluting stents
By Deployment
- Self-expandable
- Balloon expandable
By End User
- Hospitals and surgical centers
- Specialty clinics
- Others
By Region
North America
- The U.S.
- Canada
- Mexico
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
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