The Coronary Stents Market size was estimated to be US$ 10555.09 million in 2021 and US$ XX million in 2023 and is expected to reach US$ 21732.78 million by 2031; it is estimated to record a CAGR of 7.7% in till 2031. Rising prevalence of coronary artery disease among large population and surge in geriatric population prone to cardiovascular conditions are likely to remain key Coronary Stents Market trends.
Coronary Stents Market Analysis
Coronary stents are small wire mesh tubes used for the restoration of blood flow to the heart by insertion into narrowed or blocked coronary arteries. It supports the artery walls and keeps them open, allowing blood flow. These stents are used in patients with coronary artery disease, a condition in which plaque builds up in the arteries that supply blood to the heart muscle leading to reduced blood flow and potentially life-threatening complications such as heart attack and stroke. The coronary stents market growth is primarily driven by the rising prevalence of coronary artery disease among large population and surge in geriatric population prone to cardiovascular conditions. Moreover, technological advancement, new product launches, product approvals, and increasing investment by major market players are expected to support the coronary stent market growth. Additionally, supportive government policies in the developing economies and increasing awareness about minimally invasive procedures are also expected to create the demand for coronary stents in the near future. Such substantial adoption in minimally invasive procedures is driving the growth of coronary stents market.
Coronary Stents Market Overview
The growth of the coronary stents market is attributed to some key driving factors such as rising population of the elderly people is the major cause of the heart diseases. The heart disease is mostly pone to the elderly people due to weak immunity and major other health problems. For instance, the number of Americans above the age of 65 and older is anticipated to grow more than double from US$ 46 million in 2016 to above US$ 98 million by 2060, and the 65-and-older age group’s share in the world’s population will grow around 24%from 15 percent.
As per World Economic Forum, Europe has the largest percentage of population aging more than 60 or above (30%) in 2022. The fast and rapid ageing is occurring in other parts of the world as well, so that by 2050 all regions of the world except Africa will have nearly a quarter or more of their populations at ages 60 and above. The number of older persons in the world is anticipated to be US$ 1.4 billion in 2030 and US$ 2.1 billion in 2050 and will rise above US$ 3.1 billion in 2100. The elderly population are more prompt to have atypical presentations, comorbid conditions, and unfavourable outcomes. The major reason for the disease is related to the structural and functional changes in the cardiovascular system associated with the aging.
The rising geriatric population in the world leads to the coronary disease which will require the coronary stents for their treatment. These are likely to grow the market in the coming years.
However, coronary stents are the implantable devices that are placed percutaneous in one or more coronary arteries for maintaining the patency. The various stages of the regulation of the stents require examination at each stage. The clinical evaluation of the drug-eluting stents is majorly aimed to validate the safety and usefulness; and the study design should fulfil both. The end points study for the other settings of coronary drug-eluting stents clinically important to the meaningful endpoints are strongly recommended. The information gathered in the post-marketing period is very important. The long-term (for example, 5-year) post-approval clinical follow-up is very important, and it is recommended. The stringent regulations required for the coronary stents is required for the proper functioning of the stents and accuracy of the coronary stents for the treatment. These are likely to hamper the market growth in near future.
Global coronary stents market is segmented by region into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. In North America, the US is the largest market for coronary stents. The growth of the region is attributed to growing geriatric population. In addition, continuous technological advancements are further expected to stimulate the growth of coronary stents market in North America.
The Asia Pacific region is expected to account for the fastest growth in the coronary stents market. Rising prevalence of heart diseases in emerging economies such as China and India are one of the factors driving the Asia Pacific coronary stents market growth at present and is also expected to continue a similar trend during the forecast period.
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Coronary Stents Market: Strategic Insights
Coronary Stents Market
-
CAGR (2023 - 2031)
7.7%
-
Market Size 2021
US$ 10555.09 Million
-
Market Size 2031
US$ 21732.78 Million
Market Dynamics
GROWTH DRIVERS
- The growth of the coronary stents market is attributed to some key driving factors such as rising population of the elderly people is the major cause of the heart diseases. The heart disease is mostly pone to the elderly people due to weak immunity and major other health problems. For instance
- the number of Americans above the age of 65 and older is anticipated to grow more than double from US$ 46 million in 2016 to above US$ 98 million by 2060
- and the 65-and-older age group’s share in the world’s population will grow around 24%from 15 percent.
FUTURE TRENDS
- Technological advancement in drug eluting stents market is likely to enhance the products. For instance
- in August 2022
- Medtronic has launched its newest drug-eluting coronary stent
- the Onyx Frontier drug-eluting stent (DES)
- following recent CE Mark approval. The Onyx Frontier DES offers an innovative delivery system and builds upon the acute performance and clinical data from the Resolute Onyx drug-eluting stent. The DES leverages the same best-in-class stent platform as Resolute Onyx DES
- with an enhanced delivery system designed to improve deliverability and increase acute performance in the most challenging cases. Owing to all the above-mentioned factors
- the drug eluting stents market is likely to grow in the coming years. Such technological advancements in recent years is likely to generate attractive growth opportunity for the coronary stents market.
OPPORTUNITIES
- According to the Centers for Disease Control and Prevention
- approximately 20.5 million U.S. adults have coronary artery disease
- making it the most common type of heart disease in the United States
- as of 2023. According to the Harvard Health
- an estimated two million people get coronary artery stents every year in the United States. According to AHA Journals
- over than 600 000 coronary stents are implanted during percutaneous coronary interventions ( PCI s) per year in the United States. This need is likely to drive the United States coronary stents market during the forecast period.
Key Players
- Abbott Laboratories
- Medtronic PLC
- Boston Scientific Corporation
- Terumo Corporation
- B. Braun Melsungen AG
- Biosensors International Group, Ltd.
- Vascular Concepts Limited
- Microport Scientific Corporation
- EUROCOR Tech GmbH
- Cook Medical
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Type
- Bioabsorbable Stents
- Bare-Metal Stents
- Drug-Eluting Stents
Absorption Rate
- Slow-Absorption Rate Stents
- Fast-Absorption Rate Stents
Material
- Nitinol
- Polymer
- Gold
- Tantalum
- Stainless Steel
- Cobalt Alloy Metal
End User
- Ambulatory Surgical Centers
- Hospitals
- Cardiac Centers
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Coronary Stents Market: Strategic Insights
-
CAGR (2023 - 2031)7.7% -
Market Size 2021
US$ 10555.09 Million -
Market Size 2031
US$ 21732.78 Million
Market Dynamics
- The growth of the coronary stents market is attributed to some key driving factors such as rising population of the elderly people is the major cause of the heart diseases. The heart disease is mostly pone to the elderly people due to weak immunity and major other health problems. For instance
- the number of Americans above the age of 65 and older is anticipated to grow more than double from US$ 46 million in 2016 to above US$ 98 million by 2060
- and the 65-and-older age group’s share in the world’s population will grow around 24%from 15 percent.
- Technological advancement in drug eluting stents market is likely to enhance the products. For instance
- in August 2022
- Medtronic has launched its newest drug-eluting coronary stent
- the Onyx Frontier drug-eluting stent (DES)
- following recent CE Mark approval. The Onyx Frontier DES offers an innovative delivery system and builds upon the acute performance and clinical data from the Resolute Onyx drug-eluting stent. The DES leverages the same best-in-class stent platform as Resolute Onyx DES
- with an enhanced delivery system designed to improve deliverability and increase acute performance in the most challenging cases. Owing to all the above-mentioned factors
- the drug eluting stents market is likely to grow in the coming years. Such technological advancements in recent years is likely to generate attractive growth opportunity for the coronary stents market.
- According to the Centers for Disease Control and Prevention
- approximately 20.5 million U.S. adults have coronary artery disease
- making it the most common type of heart disease in the United States
- as of 2023. According to the Harvard Health
- an estimated two million people get coronary artery stents every year in the United States. According to AHA Journals
- over than 600 000 coronary stents are implanted during percutaneous coronary interventions ( PCI s) per year in the United States. This need is likely to drive the United States coronary stents market during the forecast period.
Key Players
- Abbott Laboratories
- Medtronic PLC
- Boston Scientific Corporation
- Terumo Corporation
- B. Braun Melsungen AG
- Biosensors International Group, Ltd.
- Vascular Concepts Limited
- Microport Scientific Corporation
- EUROCOR Tech GmbH
- Cook Medical
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Type - Bioabsorbable Stents
- Bare-Metal Stents
- Drug-Eluting Stents
Absorption Rate - Slow-Absorption Rate Stents
- Fast-Absorption Rate Stents
Material - Nitinol
- Polymer
- Gold
- Tantalum
- Stainless Steel
- Cobalt Alloy Metal
End User - Ambulatory Surgical Centers
- Hospitals
- Cardiac Centers
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Coronary Stents Market Drivers and Opportunities
Growing Cases of Coronary Artery Disease to Favor United States Market
According to the Centers for Disease Control and Prevention, approximately 20.5 million U.S. adults have coronary artery disease, making it the most common type of heart disease in the United States, as of 2023. According to the Harvard Health, an estimated two million people get coronary artery stents every year in the United States. According to AHA Journals, over than 600 000 coronary stents are implanted during percutaneous coronary interventions ( PCI s) per year in the United States. This need is likely to drive the United States coronary stents market during the forecast period.
Technological Developments – An Opportunity of Coronary Stents Market
Technological advancement in drug eluting stents market is likely to enhance the products. For instance, in August 2022, Medtronic has launched its newest drug-eluting coronary stent, the Onyx Frontier drug-eluting stent (DES), following recent CE Mark approval. The Onyx Frontier DES offers an innovative delivery system and builds upon the acute performance and clinical data from the Resolute Onyx drug-eluting stent. The DES leverages the same best-in-class stent platform as Resolute Onyx DES, with an enhanced delivery system designed to improve deliverability and increase acute performance in the most challenging cases. Owing to all the above-mentioned factors, the drug eluting stents market is likely to grow in the coming years. Such technological advancements in recent years is likely to generate attractive growth opportunity for the coronary stents market.
Coronary Stents Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Coronary Stents Market analysis are type and material.
- Based on type, the coronary stents market size is segmented into drug-eluting stents, bare-metal stents, and bioabsorbable stents. In 2023, the drug-eluting stents segment held the largest share of the market, by type. In addition, the segment is also expected to grow at the fastest rate during the coming years owing to the advantages of the drug-eluting stents and lower risk of complications. Drug eluting stents are small mesh tubes that have polymer coating over the mesh. These stents emit drug over time to keep the blockage from reoccurring. The drug eluted from the stents prevent the growth of scar tissue in the artery. In addition, these stents are inserted to keep arteries open after the angioplasty procedure ensuring good blood flow. In turn, reducing the risks of heart attack and stroke, and prevent the reoccurrence of any symptoms.
- Based on material, the coronary stents market is segmented into cobalt, platinum, nickel, stainless steel, nitinol, tantalum, polymer, and gold. In 2023, the cobalt segment held the largest share of the market, by material. In addition, the segment is also expected to grow at the fastest rate during the coming years owing to the advantages of the cobalt and lower risk of complications. Cobalt alloy-metal coated stents are stronger, denser, and more radiopaque than stainless steel stents. The cobalt alloy-metal coated stents are used to improve certain features of stainless-steel stents such as reducing thickness of struts, which provides more flexibility. Cobalt alloy-metal stents have a higher radial strength and radio-capacity for similar electronegativity, allowing the production of thinner struts with a similar radiological visibility. With enhanced deliverability, superb vessel support and good radiopacity, cobalt alloy-metal coated stents are progressively being used in percutaneous coronary interventions, over the forecast period.
Coronary Stents Market Share Analysis by Geography
The geographic scope of the Coronary Stents Market report is mainly divided into five regions: North America, Asia Pacific, Europe, the Middle East & Africa, and South America/South & Central America.
North America has dominated the Coronary Stents Market followed by Europe. The growth of European market is primarily driven by the increase in coronary artery disease along with surge in technological advancement and new product launches in the market. Germany is one of the developed countries of the region accounting for major market share in 2023. Germany has many primary care centers for the treatment of the CVD, but the country has still hoped to develop more and more primary care for delivering prevention, early diagnosis and management of CVD and diabetes. For instance, Denmark uses electronic patient records and has shown notable improvements in primary care quality. The primary care system comprises the data for the procedures, diagnoses, prescribed drugs, and laboratory results, providing the proper results for the better results. The growing technological advancements is one of the major factors for the growth of the Germany market for coronary stents. Thus, the market is anticipated to grow significantly during the forecast period due to the above factors.
However, Asia Pacific registered as the fastest-growing region in the global coronary stents market. The market in this region is expected to grow significantly in countries such as China, Japan, and India. The market's growth is attributed to increasing focus of market players in developing economies, and supportive government policies. In addition, the developments of the companies and the mergers and collaborations to form the better opportunities for the users and the manufacturers to the marketing and purchase. Japan has started to grow the primary care and governance across the full pathway of CVD and diabetes care. The benchmarking and monitoring are the most common in primary care. The country has numerous policy instruments for improving the quality of services along the entire pathway, including the integrated care models, financial incentives for improved quality and performance, benchmarking, and target setting.
Coronary Stents Market Report Scope
Coronary Stents Market News and Recent Developments
The Coronary Stents Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for coronary stents and strategies:
- Abbott completed the acquisition of Cardiovascular Systems, Inc. (CSI), whose atherectomy system is used to treat peripheral and coronary artery disease to prepare vessels for angioplasty or stenting. The transaction provides Abbott with a complementary solution for treating vascular disease. (Source: Abbott, its subsidiaries or affiliates, Press Release, 2023)
Coronary Stents Market Report Coverage and Deliverables
The “Coronary Stents Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Coronary Stents Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 10555.09 Million |
| Market Size by 2031 | US$ 21732.78 Million |
| Global CAGR (2023 - 2031) | 7.7% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Absorption Rate, Material, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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