Coronary Stents Market Size

Coronary Stents Market Overview

The Coronary Stents Market Size was valued at USD 9.6 Billion in 2022 and is projected to grow from USD 10.20 Billion in 2023 to USD 16.63 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.30% during the forecast period (2023 - 2032). Increased health concerns and challenges have led to more expensive operations and more bariatric procedures are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Coronary Stents Market Trends

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  Growing Technology Advancements and Product Innovation is driving the market growth

  
  

Market CAGR for coronary stents is being driven by the rising number of technology and product innovation. Trends in the coronary stents market are the continuous advancement of technology and product innovation. Manufacturers are investing heavily in research and development to introduce stents with improved features and enhanced patient outcomes. For instance, bioresorbable stents have gained traction in recent years due to their ability to dissolve over time, eliminating the need for long-term stent presence in the body. This advancement reduces the risk of stent-related complications and allows the artery to return to its natural state. Additionally, drug-eluting stents have witnessed remarkable progress, delivering drugs that prevent restenosis and promoting faster healing of the treated artery. Technological advancements and product innovation are expected to drive market growth by providing safer and more effective treatment options for patients.

Another significant market trends in the coronary stents is the growing preference for minimally invasive procedures. Traditional coronary artery bypass grafting (CABG) surgery involves open-heart surgery, which carries higher risks and longer recovery periods. In contrast, percutaneous coronary intervention (PCI) procedures, including stent placement, offer a less invasive alternative. The ability to implant stents through small incisions in the skin reduces the need for extensive surgical procedures, resulting in shorter hospital stays, quicker recovery times, and reduced healthcare costs. As a result, there is a shift towards PCI procedures, driving the demand for coronary stents. This trend is likely to continue as healthcare systems throughout the world prioritise less intrusive techniques and people desire speedier recovery and better quality of life.

The increased frequency of cardiovascular disorders drives the market of coronary stents. Sedentary lifestyles, poor diets, and an ageing population all contribute to the growing  burden of cardiovascular disease. As the number of individuals diagnosed with coronary artery disease grows, so does the need for coronary stents. Cardiovascular illnesses are the biggest cause of mortality worldwide, according to the World Health Organisation, underscoring the critical need for improved treatment alternatives. Additionally, emerging economies are witnessing a surge in cardiovascular disease cases due to lifestyle changes and urbanization. These factors create a favorable market environment for coronary stent manufacturers, propelling market growth in the coming years.

The increasing preference for minimally invasive procedures is boosting the demand for coronary stents, providing patients with safer and faster treatment options. Furthermore, the rising prevalence of cardiovascular diseases ly is creating a growing market for coronary stents. By keeping a close eye on these trends, stakeholders in the coronary stents market can adapt their strategies and capitalize on the emerging opportunities, ultimately contributing to improved patient outcomes and the overall growth of the industry.It, driving the Coronary Stents market revenue.

Coronary Stents Market Segment Insights

Coronary Stents Type Insights

The market segments of of Coronary Stents,based on Product includes Drug Eluting Stents, Bare Metal Stents, and Bioresorbable Vascular Scaffolds. The drug eluting stents segment dominated the market, accounting for 35% of market revenue (78.48 Billion). These stents release drugs slowly over time to inhibit the growth of scar tissue and prevent blockages. DES have gained popularity due to their effectiveness in reducing restenosis rates compared to bare-metal stents.

Coronary Stents End-Users Insights

The  Coronary Stents market segmentation, based on End-Users, includes Hospitals and Clinics, Ambulatory Surgical Center, Specialty Center, and Others. The ambulatory surgical center category generated the most income (70.4%). ASCs are outpatient facilities that provide surgical procedures, including interventional cardiology procedures. These centers offer a cost-effective and convenient alternative to traditional hospital settings. The demand for coronary stents in ASCs is increasing due to advancements in minimally invasive techniques and the shift towards same-day surgeries.

Figure 1:  Coronary Stents Market, by End-Users, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Coronary Stents  Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Coronary Stents market area will dominate this market, driven by high healthcare expenditure, well-established healthcare infrastructure, and a large patient population with cardiovascular diseases. The region has witnessed rapid technological advancements in stent designs, such as drug-eluting stents and bioresorbable stents. Furthermore, favorable reimbursement policies and a strong presence of key market players contribute to the market's growth in this region.

Further, the major countries studiedin the market reportare TheUS, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure2: CORONARY STENTS MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

EuropeCoronary Stents marketaccounts for the second-largest market share due to the European market is witnessing a shift towards bioresorbable stents and a growing focus on personalized medicine. Stringent regulations and guidelines for medical devices, along with cost-containment measures, present challenges to market growth. Further, the German market of Coronary Stents held the largest market share, and the UK market of Coronary Stents was the fastest growing market in the European region

The Asia-Pacific Coronary Stents Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to the large population base, increasing disposable income, and improving healthcare infrastructure is driving market expansion. Moreover, China’s market of Coronary Stents held the largest market share, and the Indian market of Coronary Stents was the fastest growing market in the Asia-Pacific region.

Coronary StentsKey Market Players& Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Coronary Stents market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their  footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Coronary Stentsindustry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the  Coronary Stents industry to benefit clients and increase the market sector. In recent years, the Coronary Stents industry has offered some of the most significant advantages to medicine. Major players in the market of Coronary Stents, including Abbott, B Braun Melsungen AG, Biotronik SE & Co. KG, Boston Scientific Corporation, C R Bard Inc., Cook Medical, Elixir Medical Corporation, Medtronic plc, Meril Life Sciences, Micro Port Scientific Corporation, Stentys SA and others, are attempting to increase market demand by investing in research and development operations.

BD (Becton, Dickinson and Company) , a major worldwide medical technology firm, today announced the completion of its purchase of C. R. Bard, Inc., resulting in the formation of a new health care industry leader with approximately $16 billion in annualised revenue. The merged firm is well positioned to improve illness treatment for patients as well as the care process for health care professionals. With an increased range of solutions throughout the care continuum, the deal expands on BD's expertise in drug management and infection control. Furthermore, Bard's robust product portfolio and innovation pipeline will expand BD's potential in fast-growing clinical areas, and the merger will expand the combined company's growth opportunities in non-US countries.

Abbott Laboratories is a  American medical equipment and health care firm headquartered in Abbott Park, Illinois. In 1888, Chicago physician Wallace Calvin Abbott created the firm to develop recognised pharmaceuticals; now, it provides medical gadgets, diagnostics, branded generic medicines, and nutritional items. It split off its research-based pharmaceuticals business into AbbVie in 2013. Abbott's products include Pedialyte, Similac, BinaxNOW, Ensure, Glucerna, ZonePerfect, FreeStyle Libre, i-STAT and MitraClip.

Key Companies in the market of Coronary Stents include

• Abbott


• B Braun Melsungen AG


• Biotronik SE & Co. KG


• Boston Scientific Corporation


• C R Bard Inc.


• Cook Medical


• Elixir Medical Corporation


• Medtronic plc


• Meril Life Sciences


• Micro Port Scientific Corporation


• Stentys SA

Coronary StentsIndustry Developments

February 2022:Baylis Medical Company, Inc (Baylis Medical), which has developed the radiofrequency NRGTM and VersaComTM Transeptal Platforms as well as a family of guidewires, sheaths and dilators used to support left heart access, which expands our electrophysiology and structural heart product portfolios. In the second quarter of 2002, we received FDA 510 clearance for and bunched the VersaCross ConnectTM LAAC Access Solution developed by Baylin Medical, providing safe and efficient access to the left side of the heart.

January 2022:MicroPort established its US headquarters in Irvine, California with facilities that include a manufacturing base and innovation center. As of 2022, its principal business is valued at over US$6.5 Billion. Micro Port is a multinational medical technology developer and manufacturer that is primarily headquartered in Shanghai, China. It mainly designs and produces medical devices for a range of fields including cardiology, interventional radiology, orthopedics, electrophysiology, and surgical management. Micro Port is considered one of the  Medtech Big 100 and has been consistently known as the leading spender in research and development by percentage of revenue.

February 2021:Develop a sustainable strategy for our diversity, equity, and inclusion program with continued focus on barrier removal. As continue to pursue a more diverse and inclusive organization, we will expand the scope of our equity efforts to recognize and appreciate all dimensions of diversity.

Coronary Stents Market Segmentation

Coronary Stents Products Outlook

• Drug Eluting Stents


• Bare Metal Stents


• Bioresorable Vascular Scaffolds

Coronary Stents End-Users Outlook

• Hospitals and Clinics


• Ambulatory Surgical Center


• Specialty Center


• Others

Coronary Stents Regional Outlook

• US


• Canada

• Germany


• France


• UK


• Italy


• Spain


• Rest of Europe

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  Middle East
  
  


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  Africa
  
  


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  Latin America