PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1515574
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1515574
Coronary Stents Market size was valued at USD 11,897.12 Million in 2023, expanding at a CAGR of 7.5% from 2024 to 2032.
Coronary stents are essential medical devices used in the treatment of coronary artery disease (CAD). These small, tube-like structures are inserted into narrowed or blocked coronary arteries during a minimally invasive procedure known as percutaneous coronary intervention (PCI) or angioplasty. The primary objective of coronary stents is to restore and maintain adequate blood flow to the heart muscle. By expanding the narrowed artery and providing structural support, stents help alleviate symptoms such as chest pain (angina) and reduce the risk of heart attack by preventing the artery from re-narrowing. Stents are typically made from metallic alloys or bioresorbable materials and may be coated with medications (drug-eluting stents) to further enhance their effectiveness in preventing the narrowing of the artery over time. This technology continues to evolve, with ongoing research aimed at improving stent design, biocompatibility, and long-term outcomes for patients with coronary artery disease.
Coronary Stents Market- Market Dynamics
Rising Obesity and Diabetes Rates Propel Technological Advances in Coronary Stent Market
The increasing prevalence of obesity and diabetes worldwide has spurred significant advancements in the coronary stent market. In 2022, 2.5 billion adults aged 18 years and older were overweight, including over 890 million adults who were living with obesity. This corresponds to 43% of adults aged 18 years and over (43% of men and 44% of women) who were overweight; an increase from 1990, when 25% of adults aged 18 years and over were overweight. Patients with these conditions often present with complex cardiovascular issues that necessitate innovative solutions for effective treatment. Technological developments in stent materials, such as bioresorbable polymers and advanced drug-eluting coatings, have been tailored to enhance biocompatibility and reduce complications in these high-risk populations.
Moreover, the demand for coronary stents has been driven by the rising incidence of coronary artery disease and related complications among obese and diabetic patients. These conditions accelerate atherosclerosis, narrowing blood vessels and necessitating interventions like stenting to restore blood flow and prevent heart attacks. The convergence of medical research, engineering, and clinical practice continues to drive forward new stent technologies that promise improved outcomes and better quality of life for patients facing these challenging health conditions.
Coronary Stents Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 7.5% over the forecast period (2024-2032)
Based on Type segmentation, Drug-eluting stents were predicted to show maximum market share in the year 2023
Based on Mode of Delivery segmentation, Balloon expandable was the leading type in 2023
Based on Material segmentation, Cobalt Chromium was the leading type in 2023
Based on End User segmentation, Hospitals were the leading type in 2023
Based on region, Europe was the leading revenue generator in 2023
The Global Coronary Stents Market is segmented based on Type, Mode of Delivery, Material, End User, and Region.
The market is divided into Nine categories based on Type: Dual Therapy Stents, Radioactive Stents, Thrombectomy Stents, Covered Stents, Bioresorbable Stents, Biodegradable Stents, Hybrid Stents, Drug-Eluting Stents, and Bare Metal Stents. Drug-eluting stents are coated with medication (such as everolimus or paclitaxel) that helps prevent the re-narrowing of the artery (restenosis) after the stent is placed. This coating releases the drug slowly over time, reducing the risk of scar tissue formation inside the artery. Drug-eluting stents have become the standard of care for most patients undergoing percutaneous coronary intervention (PCI) due to their superior ability to reduce restenosis rates compared to bare metal stents (BMS). DES are highly effective in maintaining long-term vessel patency and improving clinical outcomes, making them the preferred choice in most cases where stent implantation is indicated.
The market is divided into two categories based on Mode of Delivery: Self-expandable, and Balloon-Expandable. Balloon-expandable stents are used more frequently compared to self-expandable stents. Balloon-expandable stents are deployed using an angioplasty balloon, which expands the stent to fit snugly against the artery wall. This controlled deployment mechanism allows precise placement of the stent and ensures optimal vessel support. These stents are commonly preferred in situations where precise positioning and accurate sizing are critical, such as in coronary artery disease treatments where the lesion characteristics require meticulous stent placement. Self-expandable stents, on the other hand, are typically used in areas of the body where there are curved or tortuous vessels where balloon-expandable stents may be difficult to deploy effectively.
Coronary Stents Market- Geographical Insights
Europe holds a prominent position as a leading market for coronary stents. The region experiences a high prevalence of cardiovascular diseases, particularly in Western and Northern European countries, necessitating extensive use of coronary stents for treatment. According to the European Society of Cardiology (ESC), CVD causes 3.9 million deaths in Europe each year, and over 1.8 million in the European Union (EU). This accounts for 45% of all deaths in Europe and 37% in the EU. The advanced healthcare infrastructure across Europe supports the widespread adoption of interventional cardiology procedures, including the implantation of coronary stents, thereby contributing to market growth. Moreover, the regulatory framework in Europe, marked by the CE marking process, facilitates efficient approval and commercialization of medical devices, encouraging innovation and market competitiveness among manufacturers.
This conducive environment, coupled with a strong emphasis on research and development in cardiovascular therapies, positions Europe at the forefront of the global coronary stent market.
In the competitive market of coronary stents, Medtronic, Abbott Laboratories, and Boston Scientific stand out as leaders. Medtronic's strength lies in its extensive range of stents and robust delivery systems, emphasizing technological innovation and clinical outcomes. Abbott Laboratories, with its XIENCE line, leads in drug-eluting stents renowned for efficacy and safety. Boston Scientific competes aggressively with its Promus and Synergy stents, focusing on delivering advanced technologies that enhance procedural success rates and patient outcomes. These companies continuously vie to improve stent performance, reduce complications, and expand market presence through research, development, and strategic partnerships in the dynamic field of interventional cardiology.
In June 2024, Utilizing Northwestern's microCLIP 3D printing technology pioneered by Professor Cheng Sun, Ameer successfully manufactured citrate-based bioresorbable vascular scaffolds (BVSs) featuring an ultra-thin strut thickness of 62 micrometers, surpassing the fineness of human hair.
In May 2024, the Indian National Pharmaceutical Pricing Authority (NPPA) authorized manufacturers and importers to hike the prices of coronary stents in alignment with increasing inflation rates.
In March 2024, Abbott introduced XIENCE Sierra, a new everolimus-eluting coronary stent system, in India. This latest iteration belongs to the XIENCE family known for its advanced technology in coronary stent systems.
In Oct 2023, Unnecessary coronary stents cost Medicare $800 million yearly. A study by the Lown Institute found over 229,000 procedures at 1,733 hospitals met the criteria for overuse.
GLOBAL CORONARY STENTS MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Abbott Laboratories
Boston Scientific Corporation
Medtronic plc
Terumo Corporation
B. Braun Melsungen AG
Biosensors International Group, Ltd.
BIOTRONIK SE & Co. KG
Cook Medical Inc.
C. R. Bard, Inc. (now part of B.D.)
Endologix Inc.
Cordis Corporation (a Cardinal Health company)
MicroPort Scientific Corporation
W. L. Gore & Associates, Inc.
Meril Life Sciences Pvt. Ltd.
STENTYS SA