The global Coronary Stents market was valued at USD 8.30 Billion in 2023 and is expected to reach USD 15.37 Billion by the year 2032 at a CAGR of 7.9%. A coronary stent is a small mesh tube that holds open passages in the body such as weak or narrow arteries. It is a small tube shaped device placed in the coronary arteries, which supply blood to the heart, to keep the arteries open in the treatment of coronary heart diseases. They are small expandable tubes used to treat narrowed or weakened arteries in the body.
In patients with CAD or Coronary Artery Disease, stents are used to open narrowed arteries and help reduce symptoms such as chest pains (angina) or to help treat a heart attack. Thus, taking a gist of it, the coronary stents help in restoring the adequate blood flow to the heart. These days, the coronary stents are used in almost all the percutaneous coronary intervention (PCI) procedures. Stents reduce chest pains and have been proven to have improved chances of survival and decrease adverse events in the acute myocardial infraction. Coronary Stents market is continuously growing. With the rising advancements and launch of new products, there is huge scope to the product. For instance, the recent launch of Dual therapy stent is a first of its kind. Not only is it specifically designed for reducing the likelihood of re-narrowing of the artery but also helps in the healing process of the artery. The rising cardiac problems faced by the people along with an increase in the geriatric population are the key driving factors of the market.
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Key coverage of the report
- Regional Competitors clinical pipeline analysis
- Demand and Supply GAP Analysis
- Market share analysis of the key industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 6 years of all the mentioned segments, and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments.
Salient Features of the Coronary Stents Market
- The continuous technological advancements have been encouraging the market to grow. The recent launch of the Dual Therapy Stents is a milestone in this growth. The benefits achieved from this stent are a combination of those of Drug Eluting Stent and Bio-engineered Stents.
- The rising cases of coronary artery disease due to the changes in lifestyle and improper dietary habits have led to a rise in the number of cases of coronary artery disease. This has been a key factor driving the market.
- An increase in the geriatric population has also led to a rise in the demand for coronary stents.
- The high costs of the stents and risks such as blood clots, and re-narrowing of arteries after a period of time, scar tissues etc. are the main restricting factors of this market. However, with the technological advancements the chances of the occurrence of such problems are reducing.
- The procedure in which the stents are used is called Angioplasty which is a minimally invasive procedure. With the rise in the preference towards minimally invasive procedures there has been a rise in the demand for Angioplasty thus leading to a rise in the demand for coronary stents.
- The existence of alternatives for coronary angioplasty has also become a restraining factor for the coronary stents market. These alternatives include procedures such as Atherectomy, Laser angioplasty, coronary artery bypass etc.
Companies considered and profiled in this market
Boston Scientific Corporation, Medtronic Plc, Abbott Laboratories, B. Braun Melsungen AG, Vascular Concepts, Stentys SA, Biosensors International Group Ltd. And Orbus Neich
- North America dominates the market with a market share of 34.6%. The changing dietary habits and cases of obesity have led to an increase in the cases of CAD i.e. Coronary Artery Disease. This has led to a rise in the demand for coronary stents. The market is expected to grow at a CAGR of 7.7%.
- Europe follows North America closely and holds the highest market share amounting to 30.4%. This can be attributed to the rising technological advancements in the region.
- Asia Pacific is the fastest growing region with a CAGR of 8.7%. This can be attributed to the increasing geriatric population in the region and the rising cases of Coronary Artery Disease. Several governments of the emerging countries in this region have taken initiatives to make medical facilities and surgical procedures affordable. This has increased the demand to a very large extent.
- Among the types of stents, Drug Eluting Stents, dominate the market as they are the most reliable type of stents. They are the considered to be the safest and the most time tested among all the other types of stents. They are expected to grow at a rate of 7.7%.
- The recent launch of the dual therapy stents has been a breakthrough for the market. This, type stent is being tried and experimented with several regions. It is seen to be the fastest growing type of stent in the market and registers a growth rate of 8.8%.
Segments covered in the report
For the purpose of this study,have segmented the Coronary Stents market on the basis of type, end use, material and region:
By Type (Revenue, USD Million; 2023–2032)
- Dual Therapy Stents
- Drug Eluting Stents
- Bio-engineered Stents
- Bare Metal Stents
- Bioresorbable Vascular Scaffold (BVS)
By End Use (Revenue, USD Million; 2023–2032)
- Ambulatory Surgical Centers
- Cardiac Centers
By Material (Revenue, USD Million; 2023–2032)
By Region (Revenue, USD Million; 2023–2032)
- North America
- Rest of the Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
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