Coronary Stent Market Analysis

Global Coronary Stent Market Overview

The Coronary Stent Market Size was valued at USD 7.5 billion in 2022 and is projected to grow from USD 7.74 Billion in 2023 to USD 9.6 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.3% during the forecast period (2023 - 2032). The rising prevalence of cardiovascular diseases (CVDs) and advancements in stents are the key market drivers contributing to the market growth.Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

The projected increase in demand for coronary stents can be attributed to the aging population and the growing incidence of risk factors such as cardiovascular diseases (CVDs), complicated lesions, diabetes, obesity, and other related conditions. Furthermore, the increasing inclination towards minimally invasive procedures (MIS) is anticipated to contribute to the increased utilization of coronary stents throughout the projected timeframe. One notable benefit of employing these treatments is the utilization of smaller incision wounds, which has been shown to result in increased levels of patient satisfaction.

The market is being driven by technological advancements in stenting techniques, which have led to a decrease in surgical mistakes and improved patient outcomes. It is anticipated that this would enhance the acceptance and utilization of these products among cardiologists in both emerging and developed nations. Furthermore, it is expected that enhanced reimbursements for the percutaneous coronary intervention technique would drive the expansion of the market in the projected timeframe.

There have been ongoing advancements in the field of stents, with a predominant emphasis on incremental improvements. These improvements mostly revolve on reducing the thickness of stent struts, enhancing their deliverability in complex blood arteries, and introducing stents with longer lengths or smaller diameters. Enhancements encompass various improvements such as heightened flexibility, a reduced profile, diminished diameters, and extended lengths, all aimed at addressing the exigencies of percutaneous coronary interventions (PCI). Therefore, implementing these improvements to enhance the patient's experience and streamline procedure difficulties would contribute to the growth of the market. 

June 2023: The Wolverine Cutting Balloon Dilatation Device, developed by Boston Scientific Korea, is a catheter designed for percutaneous coronary intervention (PCI). To increase blood flow to the heart, PCI employs balloon catheters or stents to open up restricted coronary arteries. For lesions that are difficult to treat with plain old balloon angioplasty (POBA) because of plaque accumulation, for in-stent restenosis (ISR), where the artery narrows again after stenting, and for calcified lesions because of calcium deposition in the conduit, cutting balloon catheters are employed.

August 2023: Researchers from Abbott presented the results of a randomized experiment that involved over 2,500 patients with difficult cases from 18 countries and compared the use of OCT to standard X-ray angiography in percutaneous coronary procedures. OCT-guided stents had a considerably lower risk of blood clot formation after two years, according to the research. The co-primary imaging aim of the trial, ensuring that the stents were adequately extended over their entire length, was achieved thanks to the use of OCT, which resulted in higher minimum stent areas after insertion. In general, a larger diameter predicts fewer potential difficulties.

Coronary Stent Market Trends

• Growing prevalence of cardiovascular diseases (CVDs) to boost the market growth

The term "CVDs" refers to conditions affecting the heart and blood vessels, including rheumatic heart disease, coronary heart disease, and cerebrovascular disease. Heart attacks and strokes account for more than four out of every five CVD deaths, with premature deaths accounting for one-third of these deaths in people under 70. According to the World Health Organisation, an estimated 17.9 million people die from cardiovascular diseases (CVDs), one of the main causes of death worldwide. The majority of CVD fatalities occur in low- and middle-income nations. In 2019, noncommunicable diseases caused 17 million premature deaths (under 70), and 38% of those deaths were attributable to CVDs. The primary behavioural risk factors for heart disease and stroke are unhealthy eating, lack of exercise, tobacco use, and alcohol abuse. Due to behavioural risk factors, people may develop high blood pressure, high blood sugar, high blood lipids, overweight, and obesity.

Moreover, According to the Centers for Disease Control and Prevention (CDC), The most prevalent form of heart disease, coronary artery disease, caused the death of 382,820 lives in 2020. 7.2% or 20.1 million adults aged 20 and older have CAD. About 2 in 10 deaths from CAD in adults under 65 in 2020. Therefore, the growing prevalence of heart disease, such as coronary disease, boosts the demand for surgeries requiring coronary stents. This is expected to enhance the market CAGR of Coronary Stent across the globe..

Manufacturers in the market are constantly researching to advance their products to help provide a better outcome for CVD treatment. Technological developments in coronary stents, including the creation of bifurcated stents and biodegradable materials, have resulted in effective and improved CVD treatment outcomes. Such development in Coronary Stents is another factor driving the revenue growth of the Coronary Stent market revenue.

Coronary Stent Market Segment Insights

Coronary Stent Product Type Insights

The market segments of Coronary Stent, based on product type, includes Bare-balloon-expandable stents, drug-eluting stents, and bioabsorbable stents. The drug-eluting stents segment held the majority share in 2022, attributing to ~65-67% with respect to the global Coronary Stent market revenue. The development and introduction of new devices play a significant role in boosting DES's dominance. For percutaneous coronary intervention with stenting, DES is preferred over bare-metal stents and other stent types. This is anticipated to significantly contribute to the drug-eluting stent's growth.

August 2022: Medtronic announced the introduction of its newest drug-eluting coronary stent, the Onyx Frontier DES, following recent CE Mark approval. The Resolute Onyx drug-eluting stent's acute performance and clinical data are built upon by the Onyx Frontier DES, which also offers a novel delivery system. The DES uses the same best-in-class stent platform as Resolute Onyx DES and has an improved delivery system1 intended to increase acute performance in the most difficult cases and improve deliverability.

Coronary Stent Mode of Delivery Insights

The market segmentation of Coronary Stent, based on the mode of delivery, includes balloon-expandable stents and self-expanding stents. The balloon-expandable stents segment dominated the market in 2022. A growing preference for minimally invasive procedures has significantly increased the demand for balloon-expandable stents, which will drive market expansion. Vascular diseases are becoming more prevalent, which will accelerate market expansion. Additionally, the development of bioresorbable stents will present a market growth opportunity for the Coronary Stent industry.

Figure 2: Coronary Stent Market, by Mode of Delivery, 2022 & 2030 (USD billion)Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Coronary Stent Materials Insights

The global Coronary Stent market data has been bifurcated by materials into Metallic stents, cobalt chromium, platinum chromium, nickel titanium, and stainless steel. The Metallic stents segment dominated the market in 2022. Metal mesh is used to make the stents used in coronary arteries. Growing demand for minimally invasive surgery and the rising prevalence of coronary diseases are among the key factors propelling the market's growth.

Coronary Stent End User Insights

Based on End Users, the global Coronary Stent industry has been segmented into hospitals & clinics, cardiac centers, and ambulatory surgical centers. Hospitals & clinics held the largest segment share in 2022, owing to the growing number of surgeries in hospitals as there are well-trained doters that can perform such complicated surgeries. Moreover, growing government initiatives for developing healthcare infrastructure, especially in developing countries, is also anticipated to aid the market growth during the forecast period.

Coronary Stent Regional Insights

By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North America Coronary Stent market accounted for USD 3.4 billion in 2022 and is expected to exhibit a significant CAGR growth during the study period. The coronary stents market in North America is primarily driven by a sedentary lifestyle that causes obesity and other cardiovascular diseases like heart attack, stroke, and ischaemic heart disease (IHD), among others. Technological developments in coronary stent technologies, such as drug-eluting stents, the use of biodegradable materials, and 3-D printed stents, have also accelerated market growth.

Further, the major countries studied in the market report are: The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil..

Figure 4: CORONARY STENT MARKET SHARE BY REGION 2022 (%)Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Coronary Stent market accounts for the second-largest market share. An increased risk of developing heart disease is caused by an increasing passive lifestyle, the development of binge eating habits, and an increased rate of smoking, all of which contribute to a weakened immune system and an increase in stress levels. These factors ferociously aid in the gradual natural progression of the cardiac disease over time and spur market expansion. Further, the Germany market of Coronary Stent held the largest market share, and the UK market of Coronary Stent was the fastest-growing market in the European region.

The Asia-Pacific Coronary Stent Market is expected to grow at the fastest CAGR from 2022 to 2030. Increasing prevalence of CVD, governmental support for the development of the healthcare sector, and notably advantageous reimbursement in some nations, including Australia and South Korea. Additionally, boosted government spending on healthcare and new programs to introduce devices at reasonable prices are also impacting the market expansion. Moreover, the China market of Coronary Stent held the largest market share, and the India market of Coronary Stent was the fastest-growing market in the Asia-Pacific region.

Coronary Stent Key Market Players & Competitive Insights

Major market players are investing a lot of money in R&D to broaden their product offerings, which will spur further expansion of the market for Coronary Stent. With significant market developments like new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic initiatives to expand their global footprint. Competitors in the Coronary Stent industry are also increasing their production capacities.

One of the primary business strategies manufacturers adopts in the global Coronary Stent industry for researching to develop advanced products. The Coronary Stent industry has recently provided some new developments in the market. The Coronary Stent market major player such as B. Braun Melsungen AG (Germany), Medtronic plc (Ireland), Boston Scientific Corporation (U.S.), Merril Life Sciences Pvt. Ltd. (India), Abbott Laboratories (U.S.), and STENTS SA (France), others are working on expanding the market demand by investing in research and development activities.

Abbott Laboratories is a company that offers products in various sectors of the healthcare industry, such as medical devices, diagnostics, nutrition, and branded generic pharmaceuticals. In May 2022, Abbott announced the global launch of its Xience Skypoint drug-eluting stent platform. With the availability of extended sizes of 4.5 mm and 5 mm offerings, Xience Skypoint has received FDA approval, the CE mark, and PMDA approval in Japan for the broadest expansion.

Meril is a global medical device company with its headquarters in India. It creates, produces, and distributes clinically relevant, cutting-edge, and best-in-class medical devices to lessen human suffering. In February 2020, Meril Life Sciences Pvt. Ltd. was the first manufacturer of stents in India to be granted a coveted exemption from price caps imposed by the government. In a first, India's drug price regulator on February 25 approved a price control exemption for the company's three-year-old stent.

Key Companies in the market of Coronary Stent includes

• BIOTRONIK SE & Co. KG (Germany)


• Reva Medical Inc. (U.S.)


• MicroPort Scientific Corporation (China)


• Braun Melsungen AG (Germany)


• Transluminal GmbH (Germany)


• Biosensors International Group, Ltd. (Singapore)


• Terumo Corporation (Japan)


• Medtronic plc (Ireland)


• Boston Scientific Corporation (U.S.)


• Elixir Medical Corporation (U.S.)


• Merril Life Sciences Pvt. Ltd. (India)


• Vascular Concepts (India)


• Abbott Laboratories (U.S.)


• STENTS SA (France)


• Kyoto Medical Planning Co. Ltd. (Japan), among others

Coronary Stent Industry Developments

March 2022 Biosensors International Group, Ltd. received US FDA and Japanese PMDA approval for BioFreedom and BioFreedom Ultra, respectively.

March 2021: MedAlliance introduced a new balloon that delivers a limus drug in a controlled, prolonged release with no residual effects and an elution time comparable to that of a drug-eluting stent. SELUTION SLR's commercialization and international clinical programmes will both be supported by the financing's proceeds.

Coronary Stent Market Segmentation

Coronary Stent Product Type Outlook

• Bare-Balloon-Expandable Stents


• Drug-Eluting Stents


• Bio Absorbable Stents

Coronary Stent Mode of Delivery Outlook

• Balloon-Expandable Stents


• Self-Expanding Stents

Coronary Stent Materials Outlook

• Metallic Stents


• Cobalt Chromium


• Platinum Chromium


• Nickel Titanium


• Stainless Steel

Coronary Stent End User Outlook

• Hospitals & Clinics


• Cardiac Centers


• Ambulatory Surgical Centers

Coronary Stent Regional Outlook

• 
  North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• 
  Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• 
  Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• 
  Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America