Coronary Stents Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Coronary Stent Market is Segmented by Product Type (Drug-Eluting Stent, Bare Metal Coronary Stent, and Bioabsorbable Stent), Biomaterial (Metallic Biomaterial, Polymeric Biomaterial, and Natural Biomaterial), End-users (Hospitals and Ambulatory Surgical Centers), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report provides revenues and market forecasts in terms of value in USD million for the above segments.

Coronary Stent Market Size

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Coronary Stent Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 7.41 Billion
Market Size (2029) USD 9.13 Billion
CAGR (2024 - 2029) 4.25 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Coronary Stent Market

*Disclaimer: Major Players sorted in no particular order

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Coronary Stent Market Analysis

The Coronary Stent Market size is estimated at USD 7.41 billion in 2024, and is expected to reach USD 9.13 billion by 2029, growing at a CAGR of 4.25% during the forecast period (2024-2029).

Due to the high infection rate and lockdown regulations brought on by the COVID-19 pandemic, surgical procedures have been affected. Additionally, patients with cardiovascular diseases have experienced delays in diagnosis and treatment as a result of fewer people visiting hospitals and diagnostic facilities, which has affected the coronary stent market. For instance, according to a March 2022 research study published in the National Library of Medicine, there was a 52.7% reduction in adult cardiac surgery volume and a 65.5% reduction in elective cases between February 2020 to January 2021, which indicates the negative impact of COVID-19 on the cardiac surgical procedures. However, as the COVID-19 cases subside, the market started to recover, leading to an increase in the number of surgeries. For instance, in December 2021, a press release published by the Albanian Daily News stated in the 8 months of 2021, the cases treated in cardiac surgery have increased by 11% compared to the same period in 2020, according to data from the monitoring report of the Ministry of Health. Thus, subsiding COVID-19 cases led to an increasing number of heart surgeries which increased the adoption of coronary stents. Similarly, various companies were engaged in new product development which also contributed to the market growth. For instance, in May 2021, amg International GmbH received European CE mark approval for its second fully biodegradable product, the UNITY-B balloon expandable biodegradable biliary stent (BEBS) for endoscopic use. Thus, owing to the product launches and approvals, the market for coronary stents is expected to witness growth as it would increase the availability of advanced products which are expected to increase the adoption and thus fuel the market growth.

The rising incidence of coronary artery diseases (CADs), which occur when there is a buildup of plaque in the artery created a demand for percutaneous coronary intervention treatments using stents which is the main driver anticipated to fuel expansion in the coronary stent market. For instance, according to a report released in February 2022 by the Heart and Stroke Foundation of Canada, 750,000 people in the country are living with heart failure, 100,000 people are diagnosed with the condition each year, and it is anticipated that by 2030, the healthcare costs related to heart failure in Canada will amount to up to USD 2.8 billion annually. Therefore, the market under study is anticipated to experience rapid expansion throughout the forecast period due to the large number of cardiac patients and the rising economic burden caused by heart failure in the nation. Additionally, it is projected that the increased prevalence of CAD risk factors, such as age, hypertension, diabetes, and others, will support the market's growth throughout the projection period.

Other factors that are projected to significantly impact the growth of the coronary stent market include the expanding older population around the world and the advancement of stent technology and materials. The senior population (defined as people 65 years of age and over) is more prone to various chronic diseases, such as cardiovascular diseases (CVDs), which require surgical intervention procedures to treat the disease since CVDs can lead to plaque buildup in the arteries and obstruct them. For instance, as per the November 2021 report published by the Asian Pacific Observatory on Health Systems and Policies, by 2050, about one-fourth population of the Asia-Pacific region will be 60 years or older due to the decreasing fertility rate in the region, and increasing longevity which is further expected to increase the burden of the cardiovascular diseases and thus creating demand for the effective and advanced treatment procedures that also includes stents implantation and lead market towards growth. Thus, the growing global geriatric population and CVDs are expected to increase the demand for stents in percutaneous coronary intervention procedures and propel the studied market toward growth.

Additionally, it is anticipated that the launch of new products and improvements in stent technology made by the region's leading market participants will accelerate the market's growth. For instance, Transluminal introduced the VIVO ISAR, its most recent dual drug polymer-free coated stent (DDCS), in several foreign regions, including Europe, in April 2022. Therefore, it is anticipated that such product introductions will accelerate market growth throughout the forecast period.

However, the high number of product recalls, and stringent regulatory approval processes for coronary stents are expected to restrain the growth of the studied market over the forecast period.

Coronary Stent Market Trends

Drug-Eluting Stent Segment is Expected to Occupy a Significant Market Share Over the Forecast Period

To prevent excessive neointima growth, drug-eluting stents (DES) deliver an antiproliferative drug to the target lesion. A typical metallic stent, a polymer covering, and an antirestenotic medication are all parts of the DES. The antirestenotic medication is combined into the polymer and released over weeks to months after the DES is implanted. Due to their much lower risk of target vessel revascularization, DES are preferred over bare-metal stents and other stent types for percutaneous coronary intervention with stenting. This is projected to be a major growth factor for the drug-eluting stent. The main drug-eluting stent systems available right now include XIENCE from Abbott, SYNERGY DES from Boston Scientific, Cre8 EVO from Alvimedica, and Resolute Onyx DES from Medtronic Plc. The presence of such market players is expected to increase market growth as it increases the availability of products in the market.

Besides, the rise in the elderly population along with the diabetic population has increased the risk for coronary heart disease. For instance, according to the International Diabetes Federation (IDF), in 2021, there were around 90 million adults (aged 20-79 years) with diabetes in the South-East Asia (SEA) region. This number is projected to rise to 151 million by 2045. Over half of people with diabetes (51.3%) in South-East Asia (SEA) are undiagnosed. Thus, such increasing prevalence of diabetes is expected to increase cardiovascular disease which is project to augment the demand for drug-eluting stents over the forecast period.

Furthermore, companies are also launching new and more advanced drug-eluting stent systems which are further expected to fuel the segmental growth. For instance, in June 2021, the FDA granted Abbott permission to label the XIENCE family of drug-eluting stents for dual-antiplatelet therapy for patients with high bleeding risk (HBR) in the United States for a month. Early in April 2021, Abbott's XIENCE drug-eluting stent received a CE mark in Europe for a condensed version of dual antiplatelet therapy (DAPT for patients with high bleeding risk).

Thus, the abovementioned factors are expected to increase the market growth.

Coronary Stent Market:Estimated Number of People With Diabetes (in Million), By Region, 2021-2045

Asia-Pacific Region is Expected to Hold a Significant Market Share in the Coronary Stent Market Over Forecast Period

Cardiovascular disease is quite prevalent in the countries with the largest populations such as China and India. The coronary stent market is anticipated to grow in the region owing to the increasing elderly population and the development of new products. For instance, the Australian Bureau of Statistics 2020-2021 stated that in 2020-2021, 571,000 Australians aged 18 and over (2.9% of the adult population) had chronic heart problems. Due to the high prevalence of coronary artery disease, more cardiology intervention operations are being performed in the area, which is anticipated to boost the market growth.

Japan is expected to hold a significant share of the market during the forecast period due to the factors such as the launch of new products. As an illustration, in February 2022, the Japanese vascular specialist company MDK Medical was acquired by MedAlliance's partner. To develop Japanese clinical studies for its new sirolimus drug-eluting balloon (DEB) Solution SLR for the treatment of peripheral artery disease, MDK Medical previously collaborated closely with MedAlliance. The alliance is anticipated to accelerate market expansion in Japan. Similarly, product approvals also contribute to the country's market expansion. For instance, Biosensors International Group, Ltd. gained US FDA approval for BioFreedom in April 2022 as well as Japanese PMDA approval for BioFreedom Ultra on March 31, 2022. Thus, such approvals are expected to increase the availability of advanced products which is expected to increase market growth in the region.

Therefore, owing to the factors mentioned above, the Asia-Pacific region is expected to hold a significant market share.

Coronary Stent Market- Growth Rate by Region

Coronary Stent Industry Overview

The coronary stent market is moderately fragmented and consists of several significant players making the studied market reasonably competitive. The key companies, along with the new ones, are focused on new developments and advancements in coronary stents technology which is expected to increase competition in the area further. Some key companies operating in the coronary stents markets are Abbott Laboratories, Medtronic Plc, BioSensors International, Boston Scientific Corporation, and BIOTRONIK SE & Co. KG, among others.

Coronary Stent Market Leaders

  1. Boston Scientific Corporation

  2. Abbott Laboratories

  3. Medtronic Plc

  4. BIOTRONIK SE & Co. KG

  5. Biosensors International Group Ltd

*Disclaimer: Major Players sorted in no particular order

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Coronary Stent Market News

  • In August 2022, Medtronic launched the Onyx Frontier drug-eluting stent in Europe following the CE Mark approval.
  • In May 2022, 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 Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increasing Prevalence of Coronary Artery Diseases (CADs)

      2. 4.2.2 Rising Geriatric Population

      3. 4.2.3 Technological Advancements in Coronary Stents

    3. 4.3 Market Restraints

      1. 4.3.1 High Product Recalls

      2. 4.3.2 Stringent Approval Process for Stents

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION MARKET SEGMENTATION (Market Size by Value - by USD million)

    1. 5.1 By Product Type

      1. 5.1.1 Drug Eluting Stent

      2. 5.1.2 Bare Metal Coronary Stent

      3. 5.1.3 Bioabsorbable Stent

    2. 5.2 By Biomaterial

      1. 5.2.1 Metallic Biomaterial

      2. 5.2.2 Polymeric Biomaterial

      3. 5.2.3 Natural Biomaterial

    3. 5.3 By End User

      1. 5.3.1 Hospitals

      2. 5.3.2 Ambulatory Surgical Centers

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Mexico

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 France

        4. 5.4.2.4 Italy

        5. 5.4.2.5 Spain

        6. 5.4.2.6 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 Australia

        5. 5.4.3.5 South Korea

        6. 5.4.3.6 Rest of Asia-Pacific

      4. 5.4.4 Middle East and Africa

        1. 5.4.4.1 GCC

        2. 5.4.4.2 South Africa

        3. 5.4.4.3 Rest of Middle East and Africa

      5. 5.4.5 South America

        1. 5.4.5.1 Brazil

        2. 5.4.5.2 Argentina

        3. 5.4.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Abbott Laboratories

      2. 6.1.2 B. Braun Melsungen AG

      3. 6.1.3 Biosensors International Group Ltd

      4. 6.1.4 BIOTRONIK SE & Co. KG

      5. 6.1.5 Boston Scientific Corporation

      6. 6.1.6 Cook Group

      7. 6.1.7 Medtronic PLC

      8. 6.1.8 Terumo Corporation

      9. 6.1.9 Translumina GmbH

      10. 6.1.10 Sahajanand Medical Technologies Limited

      11. 6.1.11 Lepu Medical Technology (Beijing) Co.,Ltd.

      12. 6.1.12 Bilakhia Holdings Pvt Ltd. (Meril Life Sciences)

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments
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Coronary Stent Industry Segmentation

As per the report's scope, coronary stents are small elastic tubes used to treat narrowed and blocked coronary arteries in patients with coronary artery disease (CAD). The stent reduces the symptoms of chest pain (angina) and aids in treating a heart attack. These types of stents are also called heart stents or cardiac stents. They comprise metal mesh and are implanted in constricted coronary arteries during a technique known as percutaneous coronary intervention (PCI) or angioplasty. The Coronary Stent Market is Segmented by Product Type (Drug-Eluting Stent, Bare Metal Coronary Stent, and Bioabsorbable Stent), Biomaterial (Metallic Biomaterial, Polymeric Biomaterial, and Natural Biomaterial), End-users (Hospitals and Ambulatory Surgical Centers), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report also covers the estimated market sizes and trends for 17 countries across major global regions. The report offers the value (USD million) for the above segments.

By Product Type
Drug Eluting Stent
Bare Metal Coronary Stent
Bioabsorbable Stent
By Biomaterial
Metallic Biomaterial
Polymeric Biomaterial
Natural Biomaterial
By End User
Hospitals
Ambulatory Surgical Centers
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East and Africa
GCC
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America
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Coronary Stent Market Research FAQs

The Coronary Stent Market size is expected to reach USD 7.41 billion in 2024 and grow at a CAGR of 4.25% to reach USD 9.13 billion by 2029.

In 2024, the Coronary Stent Market size is expected to reach USD 7.41 billion.

Boston Scientific Corporation, Abbott Laboratories, Medtronic Plc, BIOTRONIK SE & Co. KG and Biosensors International Group Ltd are the major companies operating in the Coronary Stent Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Coronary Stent Market.

In 2023, the Coronary Stent Market size was estimated at USD 7.11 billion. The report covers the Coronary Stent Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Coronary Stent Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

The emerging technologies shaping the Coronary Stent Market are a) Next-generation drug delivery systems b) Biocompatible materials c) Potentially robot-assisted procedures

Coronary Stents Industry Report

The global coronary stent market is on an upward trajectory, driven by technological advancements such as bioresorbable vascular scaffolds and a rising number of procedures demanding minimally invasive surgeries. Amidst challenges like stringent regulations and the presence of alternative treatments, innovations like fully dissolving stents are setting a competitive landscape. North America's market dominance, along with rapid growth in the Asia-Pacific region, underscores the global demand surge for coronary stents. Market dynamics are characterized by strategic developments aimed at meeting increasing healthcare needs, indicating significant market expansion ahead. This growth is supported by data from Mordor Intelligence™, forecasting promising market prospects and outlining historical trends, reinforcing the sector's robust growth outlook. For detailed insights, Mordor Intelligence™ Industry Reports provide comprehensive analysis, including market share, size, revenue growth rate, and a forecast outlook, available as a free report PDF download.

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Coronary Stents Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)