USD 8.8 Billion
Coronary Stent Market Size, Share, Growth Analysis, By Product Type(Bare Metal Stents (BMS), Drug-Eluting Stents (DES), and Bioresorbable Vascular Scaffold (BVS)), By Biomaterial(Biomaterials, Polymeric Biomaterials, and Natural Biomaterials), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2668 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
63
|Figures:
75
Coronary Stent Market Insights
Coronary Stent Market size was valued at USD 9.09 Billion in 2022 and is poised to grow from USD 9.39 Billion in 2023 to USD 12.17 Billion by 2031, at a CAGR of 3.3% during the forecast period (2024-2031).
The global coronary stent market has witnessed significant growth and advancements in recent years. The market growth is primarily driven by factors such as the increasing prevalence of cardiovascular diseases, rising geriatric population, and the growing adoption of minimally invasive procedures. The rise in cardiovascular diseases, including coronary artery disease, has led to a higher demand for coronary stents. Lifestyle changes, sedentary habits, and unhealthy diets contribute to the increasing incidence of these diseases worldwide. Additionally, the aging population is more susceptible to cardiovascular conditions, further fueling the demand for coronary stents. Technological advancements and innovations in stent designs have significantly improved patient outcomes and safety.
The development of drug-eluting stents (DES) and bioresorbable stents has reduced the risk of restenosis and improved long-term results. These advancements have led to a shift from traditional bare-metal stents to drug-eluting and bioresorbable stents, driving market growth. However, the coronary stent market faces certain challenges. One of the major challenges is the high cost associated with coronary stent procedures, including the cost of stents themselves and the implantation procedure. This can limit the adoption of stents in lower-income regions or by patients with limited financial resources. Stringent regulations and approval processes imposed by regulatory authorities also pose challenges to market growth. Manufacturers need to comply with various regulatory requirements, including safety and efficacy assessments, before their stents can be approved for use. These processes can be time-consuming and resource-intensive. Additionally, the potential complications associated with stent implantation, such as stent thrombosis, restenosis, and allergic reactions, present challenges for both patients and healthcare providers.
US Coronary Stent Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Metallic Biomaterials
Fastest Growth
Metallic Biomaterials
Growth Rate
3.3% CAGR
Global Coronary Stent Market ($ Bn)
Country Share for North America Region (%)
To get more reports on the above market click here to Buy The Report
Coronary Stent Market Segmental Analysis
The global coronary stent market is segmented on the basis of product, biomaterial, and region. By product, the market is segmented into Bare Metal Stents (BMS), Drug-Eluting Stents (DES), and Bioresorbable Vascular Scaffold (BVS). By biomaterial, the market is segmented into Biomaterials, Polymeric Biomaterials, and Natural Biomaterials. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Coronary Stent Market Analysis By Product
The global coronary stents market can be segmented based on product types, including Bare Metal Stents (BMS), Drug-Eluting Stents (DES), and Bioresorbable Vascular Scaffold (BVS). The dominant segment in the global coronary stents market is currently the Drug-Eluting Stents (DES) category. DES are stents coated with drugs that help prevent the recurrence of blockages in the arteries after the stent placement procedure. These stents have gained significant popularity due to their ability to reduce the risk of restenosis and the need for repeat procedures compared to Bare Metal Stents (BMS). DES offer improved clinical outcomes and have become the preferred choice for many interventional cardiologists.
The fastest-growing segment in the global coronary stents market is the Bioresorbable Vascular Scaffold (BVS). BVS are stents that are designed to gradually dissolve over time and be absorbed by the body. They provide temporary support to the blood vessel during the healing process and then disappear, leaving the vessel in a natural state. BVS offer potential advantages such as reduced long-term complications and the restoration of natural vessel function. While the adoption of Bioresorbable Vascular Scaffold has been relatively slower compared to DES and BMS, it is expected to witness significant growth due to ongoing research and development efforts to improve their performance and safety.
Coronary Stent Market Analysis By Biomaterial
The global coronary stents market can also be segmented based on the type of biomaterial used, including Metallic Biomaterials, Polymeric Biomaterials, and Natural Biomaterials. The dominant segment in the global coronary stents market is Metallic Biomaterials. Metallic stents, such as those made of stainless steel, cobalt-chromium alloy, or platinum-chromium alloy, have been widely used in interventional cardiology for many years. These stents provide excellent radial strength and scaffolding support to keep the artery open, preventing restenosis and maintaining blood flow. Metallic stents are known for their durability and long-term clinical effectiveness, making them the preferred choice for many interventional cardiologists.
The fastest-growing segment in the global coronary stents market is Polymeric Biomaterials. Polymeric stents are made of biodegradable materials that gradually dissolve over time, similar to bioresorbable vascular scaffolds (BVS). These stents offer potential advantages such as reducing the risk of long-term complications associated with permanent metallic stents. Polymeric biomaterials provide temporary support to the blood vessel during the healing process and eventually degrade, leaving behind a natural vessel.
Global Coronary Stent Market By Biomaterial
To get detailed analysis on other segments, Request For Free Sample Report
Coronary Stent Market Regional Insights
The dominating region in the global coronary stent market is North America, which holds a significant market share. With the presence of renowned casinos in Las Vegas and Atlantic City, North America has established itself as a gambling hub. The region boasts a thriving casino industry and is home to several major players in the gaming equipment market. The demand for cutting-edge gaming machines, electronic gaming tables, and other equipment is consistently high in this region, driving the growth of the market. North America's market share is estimated to be around 40%, making it a key player in the global Coronary Stent market.
The fastest-growing region in the global coronary stent market is the Asia Pacific. The region has witnessed remarkable growth in the casino industry, primarily driven by countries like Macau, Singapore, and the Philippines. Macau, often referred to as the "Las Vegas of the East," has experienced exponential growth in its gambling sector, attracting millions of tourists each year. The demand for gaming equipment, including slot machines, electronic table games, and other casino essentials, has surged in the Asia Pacific region. With the rising disposable income and increasing preference for entertainment and leisure activities, the market in this region is expected to grow at a rapid pace. The Asia Pacific region currently holds a market share of around 30% and is projected to witness significant expansion in the coming years.
Global Coronary Stent Market By Region
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Coronary Stent Market Dynamics
Coronary Stent Market Drivers
Increasing Prevalence of Cardiovascular Diseases
- The rising incidence of cardiovascular diseases, including coronary artery disease, is a major driver for the global coronary stent market. Lifestyle changes, unhealthy diets, and sedentary lifestyles contribute to the growing burden of cardiovascular diseases globally.
Growing Aging Population
- The aging population is more susceptible to cardiovascular conditions, leading to a higher demand for coronary stents. As the global population continues to age, the prevalence of cardiovascular diseases is expected to increase, driving the demand for coronary stents.
Coronary Stent Market Restraints
Stringent Regulatory Approval Processes
- The stringent regulatory approval processes imposed by regulatory authorities can pose challenges for market growth. Manufacturers must comply with safety and efficacy assessments, which can be time-consuming and resource-intensive, delaying the market entry of new products.
Potential Complications
- Stent implantation carries certain risks and potential complications, such as stent thrombosis, restenosis, and allergic reactions. These complications may affect patient outcomes and increase concerns among healthcare providers and patients, impacting market growth.
Request Free Customization of this report to help us to meet your business objectives.
Coronary Stent Market Competitive Landscape
The global coronary stents market is highly competitive and characterized by the presence of several key players. These players compete based on factors such as product portfolio, technological advancements, pricing strategies, and market reach. The market is driven by continuous research and development efforts aimed at introducing innovative stent designs, improving drug-eluting capabilities, and enhancing biocompatibility. Market players focus on strategic collaborations, partnerships, and mergers and acquisitions to expand their market presence and gain a competitive edge.
Additionally, they invest heavily in clinical trials and regulatory approvals to ensure the safety and efficacy of their products. The market also witnesses intense competition in terms of pricing, as players strive to offer cost-effective solutions without compromising on quality. Moreover, companies operating in the global coronary stents market are actively engaged in improving their manufacturing processes to increase production efficiency and meet the growing demand for stents. They also focus on building strong distribution networks and establishing strong relationships with healthcare providers to enhance product accessibility.
Coronary Stent Market Top Player’s Company Profile
- Abbott Laboratories (US)
- Medtronic plc (Ireland)
- Boston Scientific Corporation (US)
- Terumo Corporation (Japan)
- B. Braun Melsungen AG (Germany)
- Johnson & Johnson (US)
- Cook Medical Inc. (US)
- C. R. Bard, Inc. (US)
- Biosensors International Group, Ltd. (Singapore)
- Meril Life Sciences Pvt. Ltd. (India)
- MicroPort Scientific Corporation (China)
- Biotronik SE & Co. KG (Germany)
- Stentys SA (France)
- Hexacath (France)
- Translumina GmbH (Germany)
- Elixir Medical Corporation (US)
- Vascular Concepts (India)
- Alvimedica (Turkey)
- InspireMD Inc. (US)
- Comed B.V. (Netherlands)
Coronary Stent Market Recent Developments
- In January 2023, Abbott Laboratories announced the launch of the Xience Sierra drug-eluting stent, which is designed to provide more flexibility and deliverability than previous models.
- In February 2023, Medtronic plc received approval from the FDA for the Onyx Frontier drug-eluting stent, which consists of a delivery system designed to enhance the deliverability and increase the acute performance of the stent.
Coronary Stent Key Market Trends
- Shift towards Minimally Invasive Procedures: There is a growing preference for minimally invasive procedures, including percutaneous coronary intervention (PCI), which drives the demand for coronary stents. Minimally invasive procedures offer benefits such as shorter hospital stays, reduced recovery time, and lower risk of complications compared to traditional open-heart surgeries.
- Rising Focus on Patient-Specific Stenting: Personalized medicine and the concept of patient-specific stenting are gaining attention. Advanced imaging techniques, such as intravascular ultrasound (IVUS) and optical coherence tomography (OCT), are used to assess the morphology and dimensions of coronary arteries, allowing for customized stent selection and placement.
Coronary Stent Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global coronary stent market analysis, North America dominated the market in terms of revenue share, driven by a sedentary lifestyle, a high prevalence of cardiovascular diseases, and technological advancements in stent technologies. The region is home to key market players, contributing to its market dominance. Asia Pacific, on the other hand, is witnessing the fastest growth rate, fuelled by factors such as increased screening for coronary artery disease, economic growth, favorable reimbursement policies, and government initiatives to improve healthcare infrastructure. The market is characterized by the presence of various stent types, including bare metal stents, drug-eluting stents, and bioresorbable vascular scaffolds, with drug-eluting stents being the dominant segment due to their superior efficacy and reduced risk of restenosis. Metallic biomaterials dominate the biomaterial segment, while polymeric biomaterials show promising growth potential. The market is driven by factors such as the increasing prevalence of cardiovascular diseases, the growing aging population, technological advancements, and the rising demand for minimally invasive procedures. However, the market faces challenges such as high costs, stringent regulatory processes, potential complications, the availability of alternative treatment options, and reimbursement limitations. Key trends in the market include the adoption of bioresorbable vascular scaffolds, advancements in drug-eluting stents, a shift towards minimally invasive procedures, and a focus on patient-specific stenting. Overall, the global coronary stent market presents opportunities for market players to innovate, expand their product offerings, and cater to the evolving needs of healthcare providers and patients worldwide.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 9.09 Billion |
| Market size value in 2031 | USD 12.17 Billion |
| Growth Rate | 3.3% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Coronary Stent Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Coronary Stent Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Coronary Stent Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Coronary Stent Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Coronary Stent Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Coronary Stent Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
USA (+1) 351-333-4748
