USD 8.8 billion
Stents Market Size, Share, Growth Analysis, By Product Type(Coronary Stents, Peripheral Stents, Stent Related Implant), By Material(Metallic Biomaterial, Polymer Biomaterial, Natural Biomaterial), By End User(Hospital, Ambulatory Surgical Centers, Others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2607 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
90
|Figures:
76
Stents Market Insights
Global Stents Market size was valued at USD 8.8 billion in 2019 and is poised to grow from USD 9.3 billion in 2023 to USD 12.1 billion by 2031, growing at a CAGR of 3.3% in the forecast period (2024-2031).
A stent is a medical device that is put into a blocked conduit in order to keep it open. It is a small tube that restores the flow of blood and other fluids to various organs of the body. Stents can be made of plastic or metal. Stents are the largest stents and are used to remove blockages from bigger arteries. It is drug-coated to prevent clogged arteries from shutting. Stents can also be used to keep aneurysms from rupturing the aorta, brain, or other blood vessels.
The global stents market is being driven primarily by an increase in the prevalence of coronary artery disease, technological advancements for stent development, increased funding from private and government organizations for the development of the healthcare sector and research centers, and an increase in demand for drug-eluting stents. According to the Centers for Disease Control and Prevention (CDC), around 360,900 people died in 2019 as a result of coronary artery disease. It is one of the most common types of cardiovascular disease. For example, in August 2021, Sinomed, a renowned worldwide medical device manufacturer, announced the European launch of the HT Supreme Drug-eluting stent at the University Hospital Galway.
US Stents Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Peripheral Stents
Fastest Growth
Peripheral Stents
Growth Rate
3.3% CAGR
Global Stents Market 2021-2028 ($ Mn)
Country Share for North America Region- 2021 (%)
To get more reports on the above market click here to Buy The Report
Stents Market Segmental Analysis
Stents Market is segmented based on the product type, material, end user, and region. Based on the product, the Stents Market is segmented into coronary stents, peripheral stents, and stent related implant. Based on the material, the Stents Market is segmented into metallic biomaterial, polymer biomaterial, and natural biomaterial. Based on the end user, the Stents Market is segmented into hospital, ambulatory surgical centers, and others. Based on the region, the Stents Market is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Stents Market Analysis by Product Type
Based on the product, the market is segmented into coronary stents, peripheral stents, and stent related implant. Among these, the coronary stents segment is projected to hold the most dominating share in the market. Coronary stents are small expandable metal mesh devices that are inserted into the coronary arteries during percutaneous coronary intervention treatments. They aid in the regulation of blood flow to the heart. Technological advancements in stenting methods have resulted in a reduction in manual errors during surgery and have emerged as the market driver. This is projected to increase the use of these goods among cardiologists in both developing and developed countries. Furthermore, improved reimbursements for percutaneous coronary intervention procedures are expected to drive market growth throughout the projection period.
Global Stents Market By Product Type, 2021 (%)
To get detailed analysis on other segments, Request For Free Sample Report
Stents Market Regional Insights
In 2021, North America is expected to have the biggest share of the market. The regional market growth is due to the region's increasing prevalence of cardiovascular illnesses. According to several research studies, the population in North America has a higher risk of developing heart disease due to the increasing adoption of sedentary lifestyles, growing binge eating habits, and a higher rate of cigarette consumption, which ultimately leads to a weak immune system and an increase in stress levels. These factors all play a significant role in the natural course of heart illness throughout time. The rising frequency of heart disease has aided the region's status as a prospective market for investors. Furthermore, the region is benefiting from the construction of specialty clinics, as well as increased investments in the innovation of coronary stents. Furthermore, the presence of key players in the United States is a crucial growth enhancing element.
Global Stents Market By Geography, 2021 - 2028
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Stents Market Dynamics
Stents Market Driver
- The growing prevalence of cardiovascular diseases will drive market figures. The growing prevalence of cardiovascular illnesses worldwide is expected to boost stent market growth in the future years. The growing number of chronic illness patients is predicted to stimulate demand for percutaneous coronary intervention and peripheral vascular operations. According to the World Health Organization (WHO), an estimated 17.9 million fatalities attributable to cardiovascular diseases (CVDs) are reported each year, accounting for roughly 32% of all global fatalities. As the number of people suffering from cardiovascular diseases rises, so will the demand for percutaneous coronary intervention and peripheral vascular operations, fueling the demand for stents.
Stents Market Restraint
- Strict regulatory permissions function as a roadblock to market expansion. Several agencies and government groups have established rules and recommendations for the effective and safe use of stents. Before approving stents, the FDA, for example, conducts a systematic examination of the literature and pre-clinical experiments in animals. Furthermore, approval of a medical device is believed to be resource-intensive (both in terms of time and money) because coronary stents fall within the USFDA's category III device. Because of the problems involved with the use of these devices, strict controls have been set on stents devices. Because of the potential for deadly results, the FDA closely monitors the use of stents in the United States. Furthermore, stents are classified as class II and class III medical devices, posing medium to high risk. These devices are subjected to comply with strict regulatory compliances, thereby hampering the overall market demand.
Request Free Customization of this report to help us to meet your business objectives.
Stents Market Competitive Landscape
The global stents market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions.
Stents Market Top Company Profiles
- Abbott Laboratories
- B. Braun Melsungen AG
- Boston Scientific Corporation
- Cook Medical LLC
- C. R. Bard, Inc.
- Medtronic plc
- MicroPort Scientific Corporation
- Terumo Corporation
- W.L. Gore & Associates, Inc.
- Biotronik SE & Co. KG
- Stentys SA
- Meril Life Sciences India Pvt. Ltd.
- Biosensors International Group, Ltd.
- Endologix, Inc.
- Lombard Medical Technologies plc
- InspireMD, Inc.
- Cordis Corporation
- Comed B.V.
- Elixir Medical Corporation
- MIV Therapeutics Inc.
Stents Market Recent Developments
- In April 2021, Abbott announced the launch of the coronary imaging platform Ultreon 1.0 Software driven by AI in Europe. The programme was developed with the goal of improving calcium-based blockage detection and measuring vessel diameter during coronary stenting procedures.
- In February 2021, Cardiovascular Systems Inc signed a collaboration agreement with Chansu Vascular Technologies, LLC to develop peripheral and coronary drug-coated balloon for drug-eluting stent applications.
Stents Key Market Trends
- The expansion of the stents market is aided by the continuous product innovations and enhancements. The majority of the attention on stent upgrades has been on minute adjustments such as reducing stent strut thickness, making stents more deliverable in tortuous veins, and launching longer lengths or smaller diameters of these stents. For example, in 2018, one of the most recent stent breakthroughs was the release of the Xience Sierra, which received FDA approval in the United States. Increased flexibility, a smaller profile, small diameters, and longer lengths are among the enhancements to address important percutaneous coronary procedures (PCI). As a result, such changes to improve the patient experience and minimize procedural difficulties will boost market growth.
Stents Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the global stents market is segmented based on the product type, material, end user, and region. Based on the product, the coronary stents segment of the market is projected to hold the most substantial share in the forecast period. Based on the material, the metallic biomaterial segment of the market is projected to hold the most substantial share in the forecast period. Based on the end user, the hospital segment of the market is projected to hold the most substantial share in the forecast period. Based on the region, the North America region of the market is projected to hold the most substantial share in the forecast period.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 8.8 billion |
| Market size value in 2031 | USD 12.1 billion |
| Growth Rate | 3.3% |
| 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:-
|
| Historical Year | 2019 |
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 Stents 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 Stents 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 Stents 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 Stents 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 Stents Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Stents 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
