Coronary Stents Market

Coronary Stents Market Analysis By Product (Bare Metal Stents, Drug Eluting Stents, Bio-absorbable Stents) and Region - Global Market Insights 2023 to 2033

Analysis of Coronary Stents Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Coronary Stents Market Overview (2023 to 2033)

The global coronary stents market size is valued at US$ 13.7 Billion in 2023, and is projected to reach US$ 38.5 Billion by 2033, at a growing Compound Annual Growth Rate (CAGR) of 10.8% during the forecast period from 2023 to 2033.

Coronary stenting is recommended for patients who have a blocked coronary artery. For individuals with acute coronary artery blockages, angioplasty is the first line of treatment. Over the previous decade, the number of patients receiving stenting has been increasing steadily and is slated to follow a similar trend in the future as well.

Rising coronary stent sales can be attributed to the development of outpatient coronary stenting, which minimizes the need for extended hospitalization. Furthermore, bio-absorbable coronary scaffolds are more beneficial than drug-eluting stents in the treatment of coronary occlusion.

Additional benefits of stenting treatments include improved blood flow and the prevention of additional heart muscle injury. It also helps to alleviate heart disease symptoms including angina and shortness of breath, lowering the need for coronary bypass surgery. As a result, surgeons favor stenting since it is a minimally invasive surgery with a quick recovery time.

As the geriatric population of the world expands, the number of people suffering from serious cardiovascular illnesses grows. Hypertension and increased total serum cholesterol levels are also contributing to the high incidence of heart diseases and boosting coronary stent demand through 2033.

Obesity is also a major risk factor for a variety of cardiovascular disorders around the world. Obesity or excessive weight creates an inappropriate or excessive accumulation of fats inside the artery lumen, which can lead to a variety of health issues, including coronary heart disease. As a result, weight loss and obesity management are critical components in avoiding cardiovascular disease.

All of the aforementioned prospects are slated to influentially govern coronary stents market revenue share across the forecast period and beyond. New coronary stent companies are focusing on innovation and raising new capital to fund their R&D efforts.

  • In October 2021, Open Stent Solution (OSS), a medical technology company founded in 2018, announced that it had raised around US$ 2.7 million in a seed capital raise. The company focuses on the development of open-stent heart valves and intended to use the raised financing to support the R&D of its ribbon-shaped stented mitral valve.
Report Attributes Details

Coronary Stents Market Size (2023)

US$ 13.7 Billion

Projected Market Value (2033F)

US$ 38.5 Billion

Global Market Growth Rate (2023 to 2033)

10.8% CAGR

Market Share of Drug Eluting Stents (2023)

80%

North America Market Share (2023)

30%

Key Companies Profiled

  • Abbott Laboratories Inc.
  • Boston Scientific Corporation
  • Medtronic Inc.
  • Terumo Corporation
  • B. Braun Melsungen AG
  • C. R. Bard Inc.
  • Cook Medical Inc.
  • Biotronik SE & Co. KG
  • MicroPort Scientific Corporation

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Which Barriers Must Coronary Stent Companies Overcome to Succeed in the Future?

“Stringent Regulations for Product Approval and Side-effects Associated with Coronary Stents”

One of the primary factors impeding market expansion is product failure and recall. Stent deformation and plaque prolapse are common issues that occur in coronary stents and such product failures result in serious patient consequences, prompting the product's removal from the market. This not only hurts the manufacturer financially but also has a negative impact on its reputation in the global marketplace.

Despite the growing need for therapeutic options, the negative side effects associated with coronary stents’ use may limit growth to some extent. Furthermore, tight government restrictions governing product approval will stifle market expansion.

Coronary stent market growth is also estimated to be hampered by the high cost of treatments involving coronary stents and the growing availability of alternative treatment methods for coronary artery disorders. Know more about other challenges and trends such as local supply, pricing trends, product standards, safety regulations, and new developments from this informative coronary stents market research report compiled by the skilled analysts at Fact.MR, a market research and competitive intelligence provider to give the reader a better understanding of the current and future market scope.

Coronary Stents Market Size, Share, Trends, Growth, Demand and Sales Forecast Report by Fact.MR

Country-wise Insights

Why is China a Key Market for Coronary Stent Manufacturers?

“Ongoing Clinical Trials for Effective Treatments to Expand Market Size”

Demand for coronary stents in China is forecasted to rise at a higher CAGR as compared to other Asian countries over the next ten years. Adoption of a sedentary lifestyle, poor eating habits, and expanding senescent population are prime factors driving market growth in this country.

Furthermore, coronary stent sales are extrapolated to be driven by an increase in the number of stent implantation procedures and a surge in the adoption of coronary stents. Increasing healthcare expenditure from private and public domains is also predicted to bolster market growth in the long term. In addition, ongoing clinical trials for the development of novel, effective, and safe treatments are driving market expansion in China.

What Makes the United States a Lucrative Market for Coronary Stent Producers?

“Rising Investments towards Coronary Stent Innovation Boosting Market Value”

Growing incidence of cardiovascular disorders and expanding geriatric population are projected to be primary aspects promulgating shipments of coronary stents in the United States throughout the forecast period.

  • According to the National Center for Health Statistics, coronary artery disorders (CAD) cause 1 in 4 fatalities in the United States each year, with 785,000 people experiencing their first heart attack and 470,000 suffering from myocardial infarction.

Surging coronary stent sales in the United States are also being boosted by the establishment of specialty clinics and increased investments in coronary stent innovations. Furthermore, the presence of key coronary stent manufacturers in the United States is a huge growth enhancer.

Why are European Countries on the Watchlist of Coronary Stent Suppliers?

“Increasing Investments in R&D of Novel Cardiovascular Disease Treatment”

Incidence of cardiovascular disorders in European countries such as Germany, France, Italy, and the United Kingdom is increasing rapidly. Public and private health institutions are investing heavily in the research and development of novel treatments to help reduce the mortality rates of people suffering from heart diseases.

  • In April 2023, Terumo Europe N.V., the European arm of a leading Japanese medical device company, announced the start of its new clinical study for a coronary stent system, which received a CE mark approval in November 2022. The study explores the use of Ultimaster Nagomi™ sirolimus eluting coronary stent system in complex PCI patients.

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Category-wise Insights

Which Type of Stents is Most Popular?

“Preference for Drug Eluting Stents Remains Higher than Other Types”

At present, sales of drug eluting stents (DES) account for more than 80% of the global coronary stents market share, owing to benefits such as lower re-obstruction rates and better treatment outcomes.

Drug eluting stents are also employed in a variety of applications, including percutaneous coronary intervention and myocardial infarction in specialty clinics. In addition, several industry leaders are investing in R&D to produce technologically enhanced drug eluting stents. The industry revenue will be boosted by the use of DES in numerous applications and technological advancements.

  • In August 2022, Medtronic, a renowned name in the global medical technology space, announced the launch of its new drug-eluting stent. The Onyx Frontier was branded as the most deliverable DES owing to its updated design and improved flexibility.

In general, drug eluting stents are less likely to develop restenosis than bare metal stents. Drug eluting stents are used to treat a blockage of the cardiac arteries. The market is growing due to leading manufacturers' introduction of novel medications in eluting stents and their widespread distribution around the world.

Competitive Landscape

Leading coronary stent companies are focusing on acquisitions, mergers, and collaborations to expand their business potential and secure their dominance in the global marketplace.

  • In February 2023, Olympus, a leading Japanese medical device manufacturer, announced that it had acquired Taewoong Medical, a stent maker based in South Korea at US$ 370 million. This deal is the result of Olympus’ efforts to expand its medical device offerings and expand its revenue generation potential.
  • In February 2021, Cardiovascular Systems Inc., a United States-based medical device company, announced that it had partnered with Chansu Vascular Technologies, to develop new peripheral and coronary balloons.

Coronary stent providers are also striving to gain approvals for their novel offerings that allow them to enter new regions and target new demographic thereby raking in loads of cash.

  • In 2021, Biotronik, a multinational cardiovascular biomedical research organization based in Germany, announced that its Orsiro Mission bioabsorbable polymer coronary drug-eluting stent system (BP-DES) was approved by the United States Food and Drug Administration (FDA).

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Key Segments Covered in Coronary Stents Industry Research

  • By Product :

    • Bare Metal Stents
    • Drug Eluting Stents
    • Bio-absorbable Stents
  • By Region :

    • North America
    • Latin America
    • Europe
    • APAC
    • MEA

- FAQs -

How big is the coronary stents market in 2023?

The global coronary stents market holds a value of US$ 13.7 billion in 2023.

What is the future market analysis for coronary stents?

By the end of 2033, global coronary stent sales are estimated to reach US$ 38.5 billion.

How will demand for coronary stents fare over the next ten years?

From 2023 to 2033, sales of coronary stents are forecasted to rise at an impressive 10.8% CAGR.

Which type of stents are the fastest-selling in the market?

Drug eluting stent sales currently account for around 80% of the global market share.

Who are the leading coronary stent suppliers?

Abbott Laboratories Inc., Boston Scientific Corporation, Medtronic Inc., and Terumo Corporation are leading companies manufacturing coronary stents.

Which regional market dominates the global landscape?

Coronary stent sales in North America account for around 30% share of the global industry.

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Bioabsorbable Stents Market

Bioabsorbable Stents Market Analysis By Material (Bioabsorbable Polymer based Stents & Bioabsosbable Metallic Stents) By Absorption Rate (Slow & Fast- Absorption Stents) By Application (Coronary & Peripheral Artery Diseases) By End-User & Region – Global Insights 2022 to 2032

Endovascular Stent market

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Coronary Stents Market

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