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 global coronary stent market continues to evolve, driven by technological advancements, rising prevalence of cardiovascular diseases, and increasing demand for minimally invasive procedures. Innovations in drug-eluting stents (DES) and bioresorbable scaffolds (BRS) are reshaping the landscape, offering improved efficacy and safety profiles. Emerging economies are witnessing robust market growth due to expanding healthcare infrastructure and growing patient awareness. However, regulatory challenges and pricing pressures remain significant hurdles for market players. With a focus on enhancing patient outcomes and reducing complications, manufacturers are investing in research and development efforts. Overall, the coronary stent market is poised for steady expansion amidst evolving healthcare dynamics.
The Coronary Stent Market continues to witness significant growth, driven by advancements in medical technology and increasing cases of cardiovascular diseases worldwide. Cardiac stents, particularly medicated stents, have emerged as pivotal solutions in the management of coronary artery diseases (CAD). These stents are designed to open narrowed or blocked arteries, restoring blood flow to the heart and alleviating symptoms such as chest pain and shortness of breath.
Medicated stents, a subset of cardiac stents, are coated with drugs that help prevent the re-narrowing of arteries after stent placement, a common issue with bare-metal stents. This innovation has revolutionized the treatment landscape for CAD, offering improved patient outcomes and reduced rates of restenosis.
The demand for cardiac stents, especially medicated stents, is propelled by the rising prevalence of risk factors such as sedentary lifestyles, unhealthy dietary habits, and aging populations. Additionally, increasing awareness regarding early diagnosis and treatment of cardiovascular conditions contributes to market expansion.
Key players in the coronary stent market are investing heavily in research and development to introduce innovative stent designs and drug-coating technologies, aiming to enhance efficacy and safety profiles while minimizing adverse effects.
As healthcare systems worldwide focus on improving access to advanced cardiovascular care, the coronary stent market is poised for sustained growth, offering promising prospects for both patients and industry stakeholders.
Market Segmentation
Market Research Future report offers an all-inclusive segmental analysis of the heart stent market on the basis of products and end user.
Based on products, it is segmented into Bioresorbable Vascular Scaffolds, Bare Metal Stents and Drug Eluting Stents. Of these, drug eluting stent is expected to lead the market during the predicted years owing to its increasing acceptance in better patient compliance, angioplasty procedures in comparison to bare metal stents. The bioresorbable stents is expected to expand at the fastest pace.
Based on end users, the coronary stents market is segmented into specialty centers, ambulatory surgical centers, hospitals and clinics and others. Of these, hospitals and clinics will have the maximum market share during the predicted years. This will be followed by the ambulatory surgical centers which will expand at the fastest rate.
Regional Analysis
Based on region, the coronary stents market covers growth opportunities and latest trends across North America, Europe, Asia Pacific and Middle East and Africa. Of these, North America will have a lion’s share in the market due to increasing cases of cardiovascular diseases mainly coronary artery disease, arterial blockage, cardiac arrythmia to name a few. Availability of advanced treatment methods and better therapeutic approaches has affected the growth of the market in this region in a positive way. The other factors that is driving the growth of the coronary stents market here include high disposable income, increasing medical awareness among the people here and existence of leading medical device manufacturers in this region. The coronary stents market in Europe holds the second largest share owing to the increasing support by the government for device manufacturers. Also, expansion of the companies geographically has resulted in a broader reach of medical services and products that has brought tremendous change with regards to acceptance as well as implementation of novel procedures and products. The coronary stents market in the APAC region experienced a huge growth due to the increasing development in the medical domain in the developing countries such as China and India. Besides, increasing medical device companies here, increasing research and development expenditure and increasing funding made by the government has resulted in its fastest growth. On the other hand, the coronary stents market in the Middle East and Africa is expected to have minimal growth opportunities.
Competitive Analysis
The coronary stents market analysis is fragmented and highly competitive. The leading companies which have used strategies such as strategic alliances and mergers and acquisitions have gained a competitive advantage. Besides companies are highly focused to create products that are technologically advanced and deliver efficiency and greater accuracy.
Key Players
The coronary stents companies include Terumo Corporation, Stentys SA, MicroPort Scientific Corporation, Meril Life Sciences, Medtronic plc, Elixir Medical Corporation, Cook Medical, R. Bard, Inc., Boston Scientific Corporation, Biotronik SE & Co. KG, and Abbott, B. Braun Melsungen AG.
Feb 2019- Biotronik has received approval from the FDA on its Ultrathin Orsiro Stent to treat coronary artery disease. This coronary stent will offer a novel treatment option to healthcare providers that will help in sealing the perforation to prevent blood leakage at the time of the procedure as well as avoid higher invasive surgical procedure or life-threatening complication.
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