Over the forecast period, the coronary stents market is expected to register a CAGR of 6.3% to reach USD 15.6 Billion by 2022-2030. Scientific advancements in stenting methods have decreased manual errors during surgery, which has become the market's driving force. This is projected to increase the number of cardiologists who use these products in developing and developed countries. Furthermore, the market is expected to rise due to improved compensation for percutaneous coronary intervention procedures over the forecast period. Continuous improvements to stents have been made, with the majority of the attention being on minute adjustments such as making stents more deliverable in tortuous veins, reducing stent strut thickness, and launching longer lengths or smaller diameters of these stents.
The growth in the prevalence of heart problems is due to an increase in binge eating habits, sedentary lifestyles, and rising stress levels. One of the primary factors impeding market expansion is product failure and recall. Percutaneous coronary intervention is now undergoing various advancements to make it safe and successful for use during difficult coronary artery disease procedures. Several large-scale healthcare manufacturing companies are developing technologically improved solutions to improve stent deliverability, safety, and efficacy.
Coronary Stents Market Segmentation:
Global Coronary Stents Market has been segmented into products, and end user.Based on products, the market has been segmented into, Drug Eluting Stents, Bare Metal Stents, and Bioresorbable Vascular Scaffolds. The drug eluting stent segment is expected to account for the largest share in the market in 2017. This large share is majorly attributed to the wider acceptance of the drug eluting stents in the angioplasty procedures, better patient compliance as compared to the bare metal stents. On the other hand, bioresorbable stents are projected to grow at the fastest rate during the forecast period.
On the basis of end users, the market has been segmented into hospitals & clinics, ambulatory surgical centres, specialty centres, and others. The hospitals & clinics segment is expected to account for the largest share in the global coronary stents market in 2017. At the same time, the increasing establishments of the ambulatory surgical centres in the developed and developing countries has led this segment to grow at the fastest rate during the forecast period.Based on the regions, the market for coronary stents is segmented in to, the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The coronary stents market in the Americas region has further been segmented into North America and South America, where-in the North American market is further divided into the US and Canada.
European Coronary Stents Market has been segmented into Western Europe and Eastern Europe where-in Western Europe region is further divided into Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The Market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The coronary stents market in the Middle East & Africa has been segmented into the Middle East and Africa.
Coronary Stents Market Key players:
Abbott, B. Braun Melsungen AG, Biotronik SE & Co. KG, Boston Scientific Corporation, C. R. Bard, Inc., Cook Medical, Elixir Medical Corporation, Medtronic plc, Meril Life Sciences, MicroPort Scientific Corporation, Stentys SA, and Terumo Corporation are some of the key players in the global coronary stents market.
Regional Market Summary
ource: White Papers, Company Presentations, Annual Reports
Geographically, the Americas is anticipated to dominate the global coronary stents market owing to the rising prevalence of the cardiovascular diseases such as cardiac arrhythmia, arterial blockage, and coronary artery disease among others. The development of the better therapeutic approaches and advanced treatment procedures have affected the growth of the American market in a positive way. According to the data published by the Department of Health, New York in May 2018, percutaneous coronary intervention is one of the two most common procedures performed on patients with coronary artery disease. Besides this, the high medical awareness among American population, high disposable income, presence of the top medical device manufacturers in the region are some of the many factors that drive the growth of the coronary stents market in this region.
Europe is expected to hold the second largest market share in the global coronary stents market. The market growth in this region is majorly attributed to the increasing government support for the device manufacturers. Geographical expansion of companies has led to the wider reach of the medical products and services which has brought a huge change in terms of the acceptance and implementation of the new products as well as procedures. Similarly, Asia-Pacific region has observed a rapid growth in the market owing to the development in the medical sector in developing countries like India and China. Moreover, increase in government funding for healthcare, rising R&D expenditure, and growing number of medical device companies in the region has led to its fastest growth during the forecast period. The Middle East and Africa region is anticipated to show minor growth opportunities in the coronary stents market during the forecast period.
Feb 2022 According to a new meta-analysis, polymer-free amphilimus-eluting stents (PF-AESs) are non-inferior to drug-eluting stents (DESs) for treating coronary artery disease (CAD) patients with coronary revascularization. Four RCTs with nearly 3,000 CAD patients were included in the team's analysis. Two independent reviewers extracted all relevant data from the RCTs. Overall, the two treatment modalities produced similar outcomes. When it comes to the patient's risk of all-cause death or target-lesion revascularization, there was "no substantial difference." On the other hand, a PF-AES treatment was connected to a "substantially decreased risk" of myocardial infarction. To the best of the group's knowledge, this is the first meta-analysis to find such a link between stents and coronary revascularization.
Global Coronary Stents Market, by Products:
Global Coronary Stents Market, by End User:
Global Coronary Stents Market, by Region:
Global Coronary stents market, by Key Players:
|Market Size||2030:USD 15.6 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Products, End-Users, End User, and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, Rest of the World|
|Key Vendors||Abbott,Braun Melsungen AG,Biotronik SE & Co. KG,Boston Scientific Corportaion,R. Bard,Cook Medical,Elixir Medical Corporation,Medtronic plc,Meril Life Sciences,MicroPort Scientific Corporation,Stentys SA,Terumo Corporation|
|Key Market Opportunities||Increasing government support for the device manufacturers.|
|Key Market Drivers||Increase in binge eating habits, rising stress levels.|
Frequently Asked Questions (FAQ) :
Coronary Stents Market valuation in USD 15.6 Billion from 2022-2030
The Coronary Stents Market has the cope to move forward with 6.3% CAGR during the forecast period of 2022-2030.
The hospitals & clinics segment has the opportunity to lead the global Coronary Stents Market.
The drug-eluting stent market has a maximum Coronary Stents Market share.
The Americas has a better Coronary Stents Market share.