People with coronary artery disease can relieve their clogged and constrictive coronary arteries using little elastic tubes known as coronary stents (CAD). These stents are additionally refer to as cardiac or heart stents. They are construct of metal mesh and are put into clogged coronary arteries using the percutaneous coronary intervention (PCI) or angioplasty technique.

In 2021, the market for coronary stents was worth USD 8.56 billion. And by 2030 it will be worth USD 13.03 billion, growing at a 4.78% CAGR during the forecast period. 

Factor boosting the growth of the coronary stent market is the increase prevalence of coronary artery diseases (CADs) cause by a buildup of plaque in the artery, and drives demand for percutaneous coronary intervention therapies utilizing stents.

Market Dynamics

Drivers

The increase in the frequency of cardiovascular disorders worldwide is one of the main factors fueling the growth of the market for coronary stents. The American Heart Association (AHA) claims that deaths from cardiovascular diseases outnumber those from cancer. And chronic lower respiratory disorders each year. Coronary heart disease is the greatest cause of death from cardiovascular illnesses in the U.S., followed by stroke, heart failure, hypertension, and other conditions. Developing health infrastructure, lifestyle diseases, an aging population, sharp increases in healthcare spending and insurance coverage. An increase in percutaneous coronary interventions (PCI) procedures that followed, advanced medical technologies and procedures. And the development of information and communication technologies are additional factors driving the market.

Restraints

Apart from the growing need for treatment options, the difficulty of using coronary stents may restrict the market growth. Furthermore, regulatory limitations on product licenses will hinder market expansion.

Opportunity 

Coronary angioplasty with stenting would completely change how arterial disorders are treated. Future restenosis will affect 30% of individuals worldwide, but it can be successfully cure using this highly advance and contemporary technology.

Minimally invasive surgeries are becoming more popular because they need fewer hospital stays and faster recovery. 

Market Segmentation

Product Insights

In 2021, the drug-eluting stents segment held the largest market, with a revenue share of about 27%. The supremacy of DES as the finest tool for PCI systems is support by the continuous development and adoption of the most recent devices. The market prospects continue developing and building technologically sophisticated DES. Such as XIENCE Skypoint, Resolute Onyx from Medtronic, Synergy from Boston Scientific, and Abbott Laboratories.

By Mode of Delivery

 By mode of delivery, the coronary stents market is divide into self-expanding and balloon-expandable. In 2021, the self-expandable segment ruled the market with a revenue share of nearly 57%. Self-expandable stents are productive. And the growing number of manufacturers around the world is a key market-dominating driver for these devices.

By End-User 

Hospitals, ambulatory surgery facilities, specialized clinics, and other entities comprise the end-user type section. The hospital segment ruled the market in 2021, holding a market share of about 25%. It is due to the increasing demand for urgent procedures like angioplasty, which must be perform primarily in hospital settings due to the sophisticate infrastructure require for such challenging procedural interventions.

Regional Insights

In 2021, North America was the highest regional market, with a share of approximately 32.0%. Cardiovascular disorders like heart attacks, strokes, ischaemic heart disease (IHD). And obesity are primarily driving the coronary stents market in North America. Technological developments, such as drug-eluting stents and biodegradable materials, have also driven the growth of the coronary stent market.

The Asia Pacific market will expand at the quickest rate in terms of revenue. This market is drive by a number of additional factors, including improve CAD screening, regulatory revisions, economic expansion, and notably favorable reimbursement in nations, including Australia and South Korea.

Key Players 

  • Meril Life Sciences Pvt. Ltd.
  • MicroPort Scientific Corporation
  • Transluminal
  • STENTYS SA
  • Cook Medical
  • Vascular Concepts
  • BIOTRONIK SE & Co. KG
  • B. Braun Melsungen AG
  • Terumo Corporation 
  • Boston Scientific Corporation
  • Medtronic Plc
  • Abbott
  • Biosensors International Group Limited

In 2021, the market for coronary stents was worth USD 8.56 billion. And by 2030 it will be worth USD 13.03 billion, growing at a 4.78% CAGR during the forecast period. The factors fueling the market’s growth include increased frequency of cardiovascular disorders, favorable government efforts. A rise in cardiac operations, and old age people suffering from heart-related problems. Also, the majority of those with diabetes require ongoing medical care. Which raises the need for hospitalization and raises the demand for coronary stents.

Related Reports:

Electrosurgical Devices Market Report – The global electrosurgical devices market will witness a robust CAGR of 5.73%, valued at $3.18 billion in 2021. Expected to appreciate and reach $5.25 billion by 2030, confirms Strategic Market Research.

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