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

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 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. '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)'

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.

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.

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.