[Research Report] The coronary stents market value is projected to reach US$ 13,879.0 million by 2025 from US$ 7,223.2 million in 2016; it is estimated to grow at a CAGR of 7.8% from 2016 to 2025.

Market Insights and Analyst View:

Coronary stents are small wire mesh tubes used for the restoration of blood flow to the heart by insertion into narrowed or blocked coronary arteries. It supports the artery walls and keeps them open, allowing blood flow. These stents are used in patients with coronary artery disease, a condition in which plaque builds up in the arteries that supply blood to the heart muscle leading to reduced blood flow and potentially life-threatening complications such as heart attack and stroke. The coronary stents market growth is primarily driven by the rising prevalence of coronary artery disease among large population and surge in geriatric population prone to cardiovascular conditions. Moreover, technological advancement, new product launches, product approvals, and increasing investment by major market players are expected to support the coronary stent market growth. Additionally, supportive government policies in the developing economies and increasing awareness about minimally invasive procedures are also expected to create the demand for coronary stents in the near future.

Growth Drivers and Challenges:

The rising population of the elderly people is the major cause of the heart diseases. The heart disease is mostly pone to the elderly people due to weak immunity and major other health problems. For instance, the number of Americans above the age of 65 and older is anticipated to grow more than double from US$ 46 million in 2016 to above US$ 98 million by 2060, and the 65-and-older age group’s share in the world’s population will grow around 24%from 15 percent.

As per World Economic Forum, Europe has the largest percentage of population aging more than 60 or above (30%) in 2022. The fast and rapid ageing is occurring in other parts of the world as well, so that by 2050 all regions of the world except Africa will have nearly a quarter or more of their populations at ages 60 and above. The number of older persons in the world is anticipated to be US$ 1.4 billion in 2030 and US$ 2.1 billion in 2050 and will rise above US$ 3.1 billion in 2100. The elderly population are more prompt to have atypical presentations, comorbid conditions, and unfavourable outcomes. The major reason for the disease is related to the structural and functional changes in the cardiovascular system associated with the aging.

The rising geriatric population in the world leads to the coronary disease which will require the coronary stents for their treatment. These are likely to grow the market in the coming years.

However, Coronary stents are the implantable devices that are placed percutaneous in one or more coronary arteries for maintaining the patency. The various stages of the regulation of the stents require examination at each stage. The clinical evaluation of the drug-eluting stents is majorly aimed to validate the safety and usefulness; and the study design should fulfil both. The end points study for the other settings of coronary drug-eluting stents clinically important to the meaningful endpoints are strongly recommended. The information gathered in the post-marketing period is very important. The long-term (for example, 5-year) post-approval clinical follow-up is very important, and it is recommended. The stringent regulations required for the coronary stents is required for the proper functioning of the stents and accuracy of the coronary stents for the treatment. These are likely to hamper the market growth in near future.

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Published Report - Coronary Stents Market: Strategic Insights

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Report Segmentation and Scope:

The “Global Coronary Stents Market Size” is segmented based on type, material, absorption rate, distribution channel, and geography. Based on type, the coronary stents market is segmented into drug eluting stents, bare metal stents, and bioabsorbable. Based on material, the coronary stents market is bifurcated into cobalt, platinum, nickel, stainless steel, nitinol, tanalum, polymer, and gold. Based on absorption rate, the coronary stents market is segmented into slow absorption rate and fast absorption rate. Based on end user, the coronary stents market is segmented into e hospitals, cardiac centers, and ambulatory centers. The coronary stents market based on geography is segmented into North America (US, Canada, and Mexico), Europe (Germany, France, Italy, UK, Russia, and Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, UAE, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America).

Segmental Analysis:

Based on type, the coronary stents market size is segmented into drug-eluting stents, bare-metal stents, and bioabsorbable stents. In 2017, the drug-eluting stents segment held the largest share of the market, by type. In addition, the segment is also expected to grow at the fastest rate during the coming years owing to the advantages of the drug-eluting stents and lower risk of complications. Drug eluting stents are small mesh tubes that have polymer coating over the mesh. These stents emit drug over time to keep the blockage from reoccurring. The drug eluted from the stents prevent the growth of scar tissue in the artery. In addition, these stents are inserted to keep arteries open after the angioplasty procedure ensuring good blood flow. In turn, reducing the risks of heart attack and stroke, and prevent the reoccurrence of any symptoms.

Technological advancement in drug eluting stents market is likely to enhance the products. For instance, in August 2022, Medtronic has launched its newest drug-eluting coronary stent, the Onyx Frontier drug-eluting stent (DES), following recent CE Mark approval. The Onyx Frontier DES offers an innovative delivery system and builds upon the acute performance and clinical data from the Resolute Onyx drug-eluting stent. The DES leverages the same best-in-class stent platform as Resolute Onyx DES, with an enhanced delivery system designed to improve deliverability and increase acute performance in the most challenging cases. Owing to all the above-mentioned factors, the drug eluting stents market is likely to grow in the coming years.

Based on material, the coronary stents market is segmented into cobalt, platinum, nickel, stainless steel, nitinol, tantalum, polymer, and gold. In 2017, the cobalt segment held the largest share of the market, by material. In addition, the segment is also expected to grow at the fastest rate during the coming years owing to the advantages of the cobalt and lower risk of complications. Cobalt alloy-metal coated stents are stronger, denser, and more radiopaque than stainless steel stents. The cobalt alloy-metal coated stents are used to improve certain features of stainless-steel stents such as reducing thickness of struts, which provides more flexibility. Cobalt alloy-metal stents have a higher radial strength and radio-capacity for similar electronegativity, allowing the production of thinner struts with a similar radiological visibility. With enhanced deliverability, superb vessel support and good radiopacity, cobalt alloy-metal coated stents are progressively being used in percutaneous coronary interventions, over the forecast period.

The coronary stents market will likely grow in the coming years due to all the above-mentioned factors.

Regional Analysis:

Based on geography, the coronary stents market is divided into five key regions: North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa. In 2017, North America held the largest coronary stents market share closely followed by the Europe, and Asia Pacific is estimated to register the highest CAGR during the forecast period. The growth of European market is primarily driven by the increase in coronary artery disease along with surge in technological advancement and new product launches in the market. Germany is one of the developed countries of the region accounting for major market share in 2017. Germany has many primary care centers for the treatment of the CVD, but the country has still hoped to develop more and more primary care for delivering prevention, early diagnosis and management of CVD and diabetes. For instance, Denmark uses electronic patient records and has shown notable improvements in primary care quality. The primary care system comprises the data for the procedures, diagnoses, prescribed drugs, and laboratory results, providing the proper results for the better results. The growing technological advancements is one of the major factors for the growth of the Germany market for coronary stents. Thus, the market is anticipated to grow significantly during the forecast period due to the above factors.

However, Asia Pacific registered as the fastest-growing region in the global coronary stents market. The market in this region is expected to grow significantly in countries such as China, Japan, and India. The market's growth is attributed to increasing focus of market players in developing economies, and supportive government policies. In addition, the developments of the companies and the mergers and collaborations to form the better opportunities for the users and the manufacturers to the marketing and purchase. Japan has started to grow the primary care and governance across the full pathway of CVD and diabetes care. The benchmarking and monitoring are the most common in primary care. The country has numerous policy instruments for improving the quality of services along the entire pathway, including the integrated care models, financial incentives for improved quality and performance, benchmarking, and target setting.

Furthermore, the technological advances in the medical devices and the increasing government funding are responsible for the product launches and the procedures in the healthcare sector. For instance, the Stent – Save a Life! (SSL) Global Initiative Central Office is joined by China as a new, active member of the SSL Community. The collaboration is for the next three-year, for providing the population the treatment of the CVD using stents. For example, the development of drug-eluting stents, bare metal, bioactive stents, and radioactive stents is anticipated to rise the usage of the stents for the treatment of coronary artery diseases. Additionally, the demand for stents such as biodegradable polymers, bifurcation stents, and bio absorbable scaffolds is expected to increase globally. Advancements in stents will encourage a positive shift in treating coronary artery diseases, thereby propelling the China coronary stent market. Owing to these developments by the industry players in China boost the coronary stents market growth.

Coronary Stents Market Report Scope

Industry Developments and Future Opportunities: 

Various initiatives taken by key players operating in the global coronary stents market are listed below:

1. In April 2023, Abbott completed the acquisition of Cardiovascular Systems, Inc. (CSI), whose atherectomy system is used to treat peripheral and coronary artery disease to prepare vessels for angioplasty or stenting. The transaction provides Abbott with a complementary solution for treating vascular disease.
2. In September 2022, Medtronic secured an FDA approval for the use of a new technique in placing its drug-eluting stents, to help treat the build-up of plaques that may clog the junction between two arteries feeding the heart.
3. In January 2022, Cook Medical has received Breakthrough Device designation from the US Food and Drug Administration (FDA) on a new drug-eluting stent for below the knee (BTK). This new stent is designed to treat patients suffering from chronic limb-threatening ischemia (CLTI).

Competitive Landscape and Key Companies:

Some of the prominent players operating in the global coronary stents market include Abbott Laboratories, Medtronic PLC., and Boston Scientific Corporation, Teromo Corporation, B. Braun Melsungen AG, Biosensors International Group, Ltd., B. Braun Melsungen AG, Vascular Concepts Limited, and Microport Scientific Corporation among others. These companies focus on new product launches and geographical expansions to meet the growing consumer demand worldwide and increase their product range in specialty portfolios. They have a widespread global presence, allowing them to serve a large set of customers and subsequently increase their market share.