Market Outlook of Coronary Stents
Global sales of coronary stents were valued at around US$ 10.1 Bn in 2020. The global coronary stents market is projected to register 12.9% CAGR and reach a valuation of US$ 25.7 Bn by the end of 2028.
Increasing consumption of drug eluting stents, which contribute around 80% share to the overall market size, is significantly driving market expansion.
Coronary Stents Market Size (2020)
US$ 10.1 Bn
Projected Year Value (2028)
US$ 25.7 Bn
Global Market Growth Rate (2021-2028)
North America Market Share (2020)
Key Companies Profiled
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Consumption Analysis of Coronary Stents from 2017-2020 Vs Market Outlook for 2021-2028
“Rising Prevalence of Coronary Artery Diseases (CAD) to Boost Market Value”
As per Fact.MR, a market research and competitive intelligence provider, the global market for coronary stents was valued at US$ 10.1 Bn in 2020.
Coronary stents are tubular medical devices that are implanted in the coronary artery to maintain it open and allow for adequate blood flow. The global cardiovascular devices industry is expanding at a rapid pace, owing to an increase in the number of heart disease and other cardiovascular issues cases.
Furthermore, the market for cardiovascular devices has grown as a result of technological advancements in this field and increasing awareness.
Demand for interventional cardiology treatment is increasing as the prevalence of coronary artery disease rises. Patients with long-term CAD often choose angioplasty as their first therapy option.
Due to rising prevalence of coronary artery disorders and growing healthcare expenditure in lower-middle-income nations the global coronary stents market is expected to rise over the forecast period.
As such, the coronary stenting systems market is projected to witness robust growth over the forecast period, registering a CAGR of 12.9% to reach US$ 25.7 Bn by 2028.
Which Key Contributors are Driving Coronary Stents Market Growth?
“Rapid Deployment of Stenting Procedures & Increasing Obese Population to Fuel Market Revenue”
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 steadily increased.
This is owing to the development of outpatient coronary stenting, which minimizes the need for lengthy hospital stays. 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 world's population ages, the number of people suffering from serious cardiovascular illnesses grows. Hypertension is also becoming a big public health issue. Due to increased total serum cholesterol levels, older people are more susceptible to a variety of cardiovascular illnesses.
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.
Thus, the global coronary stents market is predicted to rise due to an ageing and obese population, as well as an increase in the number of cardiologists prescribing stenting treatments for patients with CAD over the forecast period.
Which Challenging Issues are Faced by Coronary Stent Manufacturers?
“Stringent Regulations for Product Approval & Side-Effects Associated with Coronary Stents Hampering Market Growth”
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.
One of the primary factors impeding market expansion is product failure and recall. Stent deformation and plaque prolapse occur in coronary stents. Such product failures result in serious patient consequences, prompting the product's removal from the market.
Market growth of coronary stent devices is hampered by the high cost of treatments connected with coronary stents and the availability of alternative treatment methods for coronary artery disorders.
Why is North America Expected to Lead the Global Coronary Stents Market?
“Rise in Medical Tourism to Propel Industry Expansion in North America”
North America coronary stents market accounted for around 30% of the revenue share in 2020. The market expansion in the region is being driven by an ageing population, better healthcare facilities, a rise in the frequency of cardiac illnesses, and favorable reimbursement scenarios.
The North America coronary stents market is likely to be driven by the increase in medical tourism and rising demand for novel products with enhanced qualities.
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Why is the U.S. Coronary Stents Market Witnessing High Demand?
“Rising Investments in Coronary Stent Innovation Boosting Market Value”
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.
Expansion of the market in the United States is being boosted by the establishment of specialty clinics and increased investments in coronary stent innovations. Furthermore, presence of key coronary stent manufacturers in the United States is a huge growth enhancer.
Why is China Set to Be an Emerging Market for Coronary Stent Manufacturers?
“Ongoing Clinical Trials for Effective Treatments to Expand Market Size”
The China coronary stent products market is set to rise at the fastest rate over the forecast period because of the increased number of coronary angioplasty surgeries. Increased diabetic patients, as well as, unhealthy lifestyle choices like drinking and smoking, have boosted the market growth.
Furthermore, the market is expected to grow due to an increase in the number of stent implantation procedures and a surge in adoption of stents. This strong growth rate reflects an increase in governmental and private health expenditure.
In addition, ongoing clinical trials for the development of novel, effective, and safe treatments are driving market expansion.
Which Product Accounts for Highest Revenue Generation?
“Drug Eluting Stents More Preferred Owing to Their Growing Usage in Efficient & Cost-effective Treatments”
In 2020, the drug eluting stents (DES) segment accounted for more than 80% of the coronary stents market, owing to benefits such as lower re-obstruction rates and better treatment outcomes.
Drug eluting stents (DESs) are also employed in a variety of applications, including percutaneous coronary intervention and myocardial infarction in specialty clinics. In addition, a number of 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 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.
COVID-19 Impact on Coronary Stent Product Demand
The COVID-19 pandemic impacted healthcare workflows all around the world. Several businesses were impacted by the COVID-19 pandemic to varying degrees. The global coronary stents market was harmed by the COVID-19 outbreak. As a result, various items' production, assembly, and supply chains were disrupted.
Several large-scale manufacturing companies in the healthcare industry are working on developing technologically improved products to improve stent delivery, safety, and efficacy. To secure firm continuity, they are creating a balanced engagement with distributors and ecosystem partners.
As a result, the worldwide coronary stents market is expected to rebound from a recent economic downturn and grow even more throughout the projected period.
Coronary stent providers used techniques such as mergers and acquisitions and strategic alliances to acquire a competitive advantage in the market. Furthermore, companies are putting a larger emphasis on the creation of technologically advanced products that provide greater precision and efficiency.
- In 2021, Biotronik announced that its Orsiro Mission bioabsorbable polymer coronary drug-eluting stent system (BP-DES) was approved by the U.S. Food and Drug Administration (FDA).
Key Segments Covered in Coronary Stents Industry Research
Coronary Stents Market by Product:
- Bare Metal Stents
- Drug Eluting Stents
- Bio-absorbable Stents
Coronary Stents Market by Region:
- North America
- Asia Pacific
- Latin America
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