Coronary stents are used in the treatment of coronary artery disorders. Coronary stents are small mesh tubes that are implanted into the narrowed artery to hold it open and enhance the blood flow to the heart.
The market for coronary stents in 2021 was worth USD 8.56 billion, and by 2030, it will reach USD 13.03 billion at a 4.78% CAGR during the forecast period.
The coronary stents market has experienced significant growth due to the increasing rate of coronary artery disease and the rise in the aging population.
Market Dynamics
Drivers
- Increasing prevalence of cardiovascular diseases: The rising prevalence of cardiovascular diseases like coronary artery disease, angina pectoris, and myocardial infarction is one of the major drivers of the coronary stent market. These conditions can lead to the narrowing or blockage of coronary arteries, which can be treated with the help of coronary stents.
- Advancements in technology: The development of innovative and advanced coronary stent systems is driving the growth of the market. Manufacturers are investing in R&D to develop new materials and designs that offer better clinical outcomes.
- Growing geriatric population: The increasing geriatric population globally is a major driver of the coronary stents market. Older adults are more susceptible to cardiovascular diseases, and the demand for coronary stents is expected to increase as the population ages.
- Rising demand for minimally invasive procedures: Patients prefer minimally invasive procedures because they offer several advantages, including faster recovery time, shorter hospital stays, and reduced risk of complications.
- Increasing adoption of unhealthy lifestyle habits: Adopting unhealthy lifestyle habits such as smoking, unhealthy diet, and lack of physical activity contributes to the rising prevalence of cardiovascular diseases. This will drive the demand for coronary stents in the coming years.
Restraints
Several factors restrain the growth of the global market for coronary stents, including injury to the artery where the sheath was implanted, allergic reactions to the contrast agent utilized during the procedure, injury to a heart artery, excessive bleeding necessitating a stroke, blood transfusion, heart attack, or death.
Opportunity
New technologies for producing coronary stents are being develop. Due to several technical developments that are advancing quickly in the medical industry. For instance, it was claim in a July 2022 post on the National Center for Biotechnology Information (NCBI) that recent technical developments in the area of coronary stents had improved clinical results.
Market Segmentation
By Stent Type
On the basis of stent type, the market is segment into covered stents, drug-eluting stents, bioresorbable stents, bare metal stents, and others. In 2021, the drug-eluting stents segment dominated the market with a share of around 27%. The supremacy of DES as the finest tool for PCI systems is support by the continuous development and adoption of the most recent devices. The market prospects continue developing and building technologically sophisticated DES. Such as XIENCE Skypoint, Resolute Onyx from Medtronic, Synergy from Boston Scientific, and Abbott Laboratories.
By Mode of Delivery
In terms of mode of delivery, the coronary stents market is segment into self-expanding and balloon-expandable. In 2021, the self-expandable market sector held a market share of around 57%. Self-expandable stents are extremely productive, and the growing number of producers worldwide is a key market-dominating driver for these devices.
By End-User
In terms of end-user, the coronary stents market is segment into hospitals, ambulatory surgery facilities, specialized clinics, and others. The hospital sector led the market in 2021, with a revenue share of around 25%. It is due to the rising need for urgent procedures like angioplasty, which must be perform predominantly in hospital settings. Due to the sophisticate infrastructure required for such challenging procedural interventions.
Regional Analysis
With a 34.5% revenue share in 2021, the North American area overtook Europe as the leading market for coronary stents globally. Obesity is a major factor driving the North American coronary stents market in the United States. Due to the way of life and eating habits there. Obesity can result in cardiovascular disorders, including stroke, ischemic heart disease (IHD), and heart attack.
The market has also grown due to technological developments in coronary stent technologies, such as biodegradable materials and drug-eluting stents. The presence of established players like Abbott & Boston and Medtronic is driving the growth of the market in the area.
Key Players
- Boston Scientific Corporation
- BIOTRONIK SE & Co. KG
- Biosensors International Group Limited
- Medtronic plc
- B. Braun Melsungen AG
- Terumo Corporation
- Abbott
- Cook Medical
- Vascular Concepts
- Meril Life Sciences Pvt. Ltd
- STENTYS SA
- MicroPort Scientific Corporation
- Transluminal
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