Coronary Stent Market - Forecasts from 2024 to 2029

The coronary stent market was valued at US$9.26 billion in 2022.

The placement of expandable tubular metallic implants called coronary stents (CS) into coronary arteries that have been used due to the underlying atherosclerotic disease. This revascularization procedure is known as percutaneous coronary intervention (PCI) or coronary angioplasty with stent placement. Additionally, due to the expandable, metallic meshwork of coronary stents, which inhibits adverse remodeling, coronary dissection, and vascular recoil have been removed.

Driving factors for the coronary stents market

The growing incidence of heart disease is the primary factor driving the need for coronary stents. With the increasing prevalence of diseases including diabetes, hypertension, and obesity, CAD is becoming more common globally. As the population ages, more coronary stents are expected to be required. The coronary stent market is growing as a result of technological developments in the field. The improved patient outcomes, safety, and efficacy of these novel devices are what is driving the coronary stent market growth.

Rising prevalence of coronary artery disease

In the US, coronary artery disease, is the leading cause of death, accounting for about 610,000 fatalities yearly according to research published in the National Library of Medicine in June 2021. The need for effective coronary stent technology is thus expected to expand as a result of the unprecedented rise in CAD incidence. This factor is expected to sustain demand during the forecast timeframe. Since most Percutaneous Coronary Intervention (PCI) operations involve the use of a coronary stent, the coronary stent market is expected to grow.

Growing popularity for enhanced DES

Enhanced DES and the creation of bioresorbable scaffolds have increased the popularity of stenting technology relative to conventional balloon angioplasty. The efficacy and outcomes of treating CVD have improved due to technical advancements in coronary stents, such as the invention of bifurcation stents and the use of biodegradable materials. The aforementioned elements are likely to drive coronary stent market growth throughout the forecast period.

Increasing investment in healthcare

The Centres for Medicare & Medicaid Services of the United States Department of Health and Human Services estimate that U.S. healthcare spending will increase 2.7 percent in 2021 to reach $4.3 trillion. More patients can obtain stent installation treatments as healthcare spending rises, fueling coronary stent market growth. Additionally, more people have access to stent installation treatments because of favorable reimbursement policies from governments and private insurance companies, which is fueling demand.

Rising popularity for BMS stents

BMS stents continue to grow due to low entry hurdles for new technologies and clinical evidence showing BMS's advantages. The BMS stent type can keep its position in the coronary stent market because of its affordable device price. BMS is utilized in many PCI procedures despite the improvement in DES replacing its use because of its inexpensive cost and low hospitalization rates. After DES, bioresorbable scaffolds (BRS) are the most recent technology to hit the market.

Advancement in technology

Demand for coronal stents is expected to rise considerably throughout the projection period due to several technical advancements that have made the coronary stent industry appealing. Continuous research and development led to the first completely dissolving stents. These stents, which were just introduced to the coronary stent market after receiving FDA permission, are utilized in the majority of cardiac operations. There will be a higher need for these therapies as incidences of coronary artery disease rise.

The market for coronary stents is expected to expand gradually in North America.

Technical advancements in coronary stent technologies, such as drug-eluting stents and the use of biodegradable materials, have further sped up the expansion of the coronary stent market. Asia Pacific is expected to see the fastest revenue growth in the coronary stent industry. The market for coronary stents is also driven by other reasons including enhanced CAD screening, economic growth, regulatory updates, and very favorable reimbursement in some countries. Additionally, this industry is being impacted by growing government investment in healthcare and new attempts to provide products at cheap costs in cost-constrained regions like India and China.

Key market player strategies

In the global coronary stent market, Abbott Laboratories, Boston Scientific, and Medtronic had a large presence due to their outstanding performance in the lucrative DES market and their extensive product portfolios, which include a wide range of various IC device types. These businesses have established a noticeable presence in the industry. Despite the three main manufacturers' dominance, there are several national and international participants in the coronary stent industry. By providing affordable prices and cutting-edge technologies that fill gaps in the coronary stent market, BIOTRONIK, for instance, has been able to build a sizable presence.

Market Key Developments

• In April 2023, leading medical device firm Terumo Europe N.V. started a new prospective clinical research using the Ultimaster NagomiTM sirolimus-eluting coronary stent system in patients undergoing difficult PCI to further product and patient care innovation.
• In August 2022, Medtronic introduced the Onyx Frontier drug-eluting stent in Europe.
• In July 2022, the unique Pulsar®-18 T3 peripheral self-expanding stent system from BIOTRONIK was approved by the U.S. Food and Drug Administration (FDA) for a better insertion method during endovascular treatments, the company stated.

Segmentation:

By Type

• Bare-metal Stents
• Drug-eluting Stents
• Bioabsorbable Stents

By Delivery Mode

• Balloon-expandable Stents
• Self-expanding Stents

By End-User

• Hospitals
• Cardiac Centers
• Ambulatory Surgical Centers

By Geography

• North America
• United States
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• United Kingdom
• Germany
• France
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Israel
• Others
• Asia Pacific
• Japan
• China
• India
• South Korea
• Indonesia
• Thailand
• Others