Coronary Stents Market Research, 2030
The global Coronary Stents Market Size was valued at $8.8 billion in 2020, and is projected to reach $15.4 billion by 2030, growing at a CAGR of 6% from 2021 to 2030. A coronary stent is a tube-shaped device placed in coronary arteries that supplies blood to heart, keeping arteries open in treatment of coronary heart disease. It is used in a procedure called percutaneous coronary intervention (PCI). In addition, coronary stents are used in more than 90% of PCI procedures. Stents reduce chest pain, which is called as angina and have shown to improve survivability by reducing adverse events in acute myocardial infarction
Increase in prevalence of coronary artery diseases, improvement in patient outcomes with stenting, and rise in new trends in field of coronary artery stents are some factors which drive growth of the coronary stents market. However, high cost of procedures associated with coronary stents and availability of alternate methods for the treatment of coronary artery diseases hinder growth of the market. Conversely, increase in demand for coronary stents across developing countries and growth in awareness regarding availability of suitable insurance & reimbursement policies are expected to offer lucrative growth opportunities for the Coronary Stents Market Forecast period.
The global coronary stents market is segmented on the basis of product, biomaterial, end user, and region. Depending on product, it is classified into drug-eluting stent, bare-metal stent, and bioabsorbable vascular stent. On the basis of biomaterial, it is categorized into metallic, polymeric, and natural biomaterial. Based on end user, it is fragmented into hospitals, ambulatory surgical centers, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Product Segment Review
By product, drug-eluting stent segment dominated the global market in 2020, and is expected to remain dominant throughout the forecast period. This is attributed to its significant property of preventing the growth of scar tissues called as restenosis in the arterial wall after the procedure.
Biomaterial Segment Review
Depending on biomaterials, the market is segregated into metallic, polymeric, and natural biomaterial. The metallic biomaterial segment dominated the global market in 2020, and is anticipated to continue this trend during the forecast period, owing to cost-effectiveness and remarkable efficacy of vascular healing compared to other materials.
End User Segment Review
According to end user, hospital segment dominated the global Coronary Stents Market Size in 2020, and is anticipated to continue this trend during the forecast period, owing to increase in prevalence of coronary artery diseases, initiatives taken by governments for development of medical infrastructure, and rise in awareness regarding treatment & management of disease, and surge in sedentary life style.
Asia-Pacific Segment Review
The Coronary Stents Market Opportunity in Asia-Pacific is witnessing significant Coronary Stents Market Growth, owing to rise in number of cardiac centers, increase in prevalence of coronary artery disease, and rise in number of geriatric population. For instance, according to the United Nations Population Fund (UNFPA), in 2020, geriatric population in Asia-Pacific is anticipated to increase by three-fold reaching 1.3 billion by 2050. Geriatric population is more prone to develop coronary artery diseases, owing to aging, which causes weakening of blood vessels and muscles of heart thereby, supporting the regional growth.
Moreover, rise in number of stents implantation procedures and surge in adoption of stents drive growth of the market. In addition, growth in health care expenditures in developing countries of Asia-Pacific boosts the market growth. Increase in public and private health expenditure is reflected in this rapid growth rate.
Moreover, technological development in healthcare sector boost growth of the market.
The key market players profiled in the report include includes Abbott Laboratories, B. Braun Melsungen AG, Boston Scientific Corporation, Becton Dickinson and Company, Microport Scientific Corporation, Terumo Corporation, Medtronic plc., Biotronik SE & Co. KG, Biosensors International Group, Ltd., and Elixir Medical Corporation.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the coronary stents market analysis from 2020 to 2030 to identify the prevailing coronary stents market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the coronary stents market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global coronary stents market trends, key players, market segments, application areas, and market growth strategies.
Coronary Stents Market Report Highlights
| Aspects | Details |
 By Type |
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 By Biomaterial |
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 By End User |
|
 By Region |
|
 Key Market Players | Becton, Dickinson and Company, Elixir Medical Corporation, B. Braun Melsungen AG, Medtronic PLC., Biotronik Se & Co. KG, Microport Scientific Corporation, Biosensors International Group, Terumo Corporation, Boston Scientific Corporation, Abbott Laboratories |
Analyst Review
The utilization of coronary stents is expected to increase, due to surge in the incidence rate of coronary artery disease. There have been remarkable technological advancements related to coronary stent systems to provide advanced treatment options for patients suffering from chronic cardiac diseases. In addition, North America accounted for a majority of the global coronary stents market share in 2020, and is anticipated to remain dominant during the forecast period. This is attributed to rise in prevalence of coronary artery diseases, increase in number of approvals for stents, surge in presence of key players for manufacturing of advanced stents, growth in availability of advanced technologies in the healthcare sector, and increase in number of clinical studies to evaluate safety and efficacy of devices. Asia-Pacific is anticipated to witness lucrative growth, owing to increase in prevalence of coronary artery diseases, rise in population, growth in health care expenditures, and rise in sedentary lifestyle.
Moreover, increase in incidence of coronary heart disease, surge in innovation in coronary stents, and rise in improved insurance & reimbursement scenario are some of the factors driving the growth of the market. However, high cost of these devices and stringent regulatory norms of the government hampered the market growth. Presently, drug-eluting stents segment accounts for largest share in the global coronary stents market, followed by bare-metal stents segment. Moreover, majority of the coronary stent manufacturers and distributors focus on expanding their presence in the developing regions such Asia-Pacific and LAMEA.
The total market value of coronary stents market is $8,814.9 million in 2020.
The forcast period for coronary stents market is 2021 to 2030
The market value of coronary stents market in 2021 is $9,124.3 million.
The base year is 2020 in coronary stents market
Top companies such as Abbott Laboratories, B. Braun Melsungen AG, Boston Scientific Corporation, Becton Dickinson and Company, and Medtronic plc. held a high market position in 2020.
The drug-eluting stents segment is the most influencing segment owing to its significant property of preventing the growth of scar tissues (restenosis) in the arterial wall after the procedure
Increase in prevalence of coronary artery diseases, improvement in patient outcomes with stenting, and rise in new trends in field of coronary artery stents are some factors which drive growth of the coronary stents market
Asia-Pacific is expected to experience the growth rate of 6.7% during the forecast period, owing to rise in number of cardiac centers, increase in prevalence of coronary artery disease, and rise in number of geriatric population in the region.
A coronary stent is a tube-shaped device placed in coronary arteries that supplies blood to heart, keeping arteries open in treatment of coronary heart disease
Coronary stents is used in a procedure called percutaneous coronary intervention (PCI).
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