Coronary Stent Market By Product Type (Drug Eluting Stents, Bioabsorbable Stents), Design (Permanent Coronary Stents, Fully Degradable Coronary Stents), Material (Metallic, Polymeric), End-User (Hospitals, Cardiac Centers), & Region for 2024 to 2031.

Coronary Stent Market Valuation – 2024-2031

Coronary Stent Market valued USD 7.11 Billion in 2024. The coronary stent market is growing due to factors such as increasing prevalence of cardiovascular diseases, technological advancements, minimally invasive procedures, rising healthcare expenditure, growing geriatric population, awareness and education initiatives, expanding access to healthcare, and lifestyle changes. The increasing prevalence of cardiovascular diseases, sedentary lifestyles, unhealthy diets, and aging populations contribute to the demand for interventions like stent placement. Technological advancements in stent design, materials, and deployment techniques enhance the efficacy and safety of coronary stents.

Minimally invasive procedures like percutaneous coronary intervention (PCI) offer advantages over traditional open-heart surgeries, leading to increased adoption. Increased healthcare spending, particularly in emerging economies, facilitates greater access to advanced medical devices and treatments and is expected to reach USD 13.87 Billion by 2031 and is growing at a CAGR of 8.71% from 2024 to 2031.

Coronary Stent MarketDefinition/ Overview

A coronary stent is a small, expandable mesh tube inserted into narrowed coronary arteries to restore blood flow to the heart muscle and alleviate symptoms of coronary artery disease (CAD). The procedure, known as coronary angioplasty or percutaneous coronary intervention (PCI), involves a catheter with a deflated balloon guiding through a blood vessel to the blockage site. The balloon compresses plaque buildup, widening the artery and improving blood flow.

The stent, mounted on a balloon, is then positioned at the blockage site and expanded. Over time, the artery’s inner lining grows over the stent, incorporating it into the arterial wall. Some stents are drug-eluting, coating them with medications to prevent restenosis, preventing artery re-narrowing. Coronary stents have revolutionized treatment and provided significant relief for millions of heart-related conditions worldwide.

What Factors are Driving the Coronary Stent Market?

The increasing prevalence of cardiovascular diseases, technological advancements in stent design, materials, and deployment techniques, and the increasing aging population are driving the demand for interventions like stent placement. Minimally invasive procedures like percutaneous coronary intervention (PCI) offer advantages over traditional open-heart surgeries, leading to shorter hospital stays, faster recovery times, and reduced healthcare costs.

Rising healthcare expenditure, particularly in emerging economies, facilitates greater access to advanced medical devices and treatments, including coronary stents. Expanded insurance coverage and government initiatives to improve healthcare infrastructure further contribute to market growth. The aging population is prone to cardiovascular diseases, driving the demand for coronary interventions like stent placement.

Awareness and education initiatives contribute to early detection and intervention for coronary artery disease. Public health campaigns, patient education programs, and physician training initiatives enhance understanding and acceptance of coronary stent procedures.

Expanding access to healthcare, particularly in developing regions, leads to greater accessibility to coronary interventions. Increased availability of skilled medical professionals, diagnostic facilities, and treatment centers ensures timely and appropriate care.

Lifestyle changes and risk factors can mitigate the need for coronary stents, contributing to reduced disease progression and better long-term outcomes for patients. Overall, these factors contribute to the growth of the coronary stent market.

What are the Barriers Impeding the Growth of the Coronary Stent Market?

The coronary stent market is characterized by competition, regulatory hurdles, and evolving clinical practices. Competition often leads to pricing pressure, impacting profitability and hindering research and development. Regulatory requirements for stent approval vary by region, requiring substantial investments in clinical trials and regulatory affairs. Evolving clinical guidelines based on emerging evidence may influence stent utilization patterns, leading to shifts in market demand and product preferences.

Emerging technologies like bioresorbable stents and drug-device combinations present both opportunities and challenges, requiring higher development costs, longer regulatory pathways, and uncertainty about long-term safety and efficacy. Healthcare reimbursement policies also vary across regions, affecting market access and adoption of stent technologies. Overall, the coronary stent market is a complex and evolving landscape.

Category-Wise Acumens

Which Product Type has the Highest Market Share in the Coronary Stent Market?

Drug-Eluting Stents (DES) are the dominant market in the coronary stent market due to their superior clinical outcomes, technological advancements, broader clinical applicability, and economic benefits. DES release medication that inhibits cell proliferation, reducing restenosis rates and maintaining vessel patency compared to bare-metal stents (BMS). They also provide better long-term outcomes, reducing the need for repeat procedures and enhancing patient quality of life.

Continuous advancements in DES technology, such as drug formulations and polymer coatings, have increased their safety and efficacy. DES are approved for a wider range of clinical indications, particularly beneficial for patients with complex coronary artery disease. Medical guidelines from leading cardiovascular societies, such as the American College of Cardiology and the European Society of Cardiology, often recommend DES as the preferred choice for most percutaneous coronary interventions.

Patients and physicians prefer DES due to their proven effectiveness and safety profile, driving demand and adoption rates. Despite being more expensive upfront than BMS, DES’s ability to reduce the need for repeat interventions and hospitalizations makes them more cost-effective in the long term. DES have received extensive regulatory approvals across major markets, ensuring their availability and accessibility.

How is the Market for Coronary Stent Expanding through Cardiac Centers?

The coronary stent market is expanding due to factors such as the increasing incidence of cardiovascular diseases, technological advancements in stent design and materials, the growing number of specialized cardiac centers, increasing healthcare investments, rising awareness and screening programs, and the aging population. The rising prevalence of CVDs, coupled with technological advancements in stent technology, has led to a higher demand for coronary stenting procedures.

The rise in presence of cardiac centers, particularly in developing countries, provides a broader population with advanced facilities and skilled professionals, boosting market growth. Governments and private entities are investing more in healthcare infrastructure, including cardiac care, which supports the procurement of advanced medical devices, including coronary stents. The aging population is a significant driver for the coronary stent market, as older individuals are more prone to coronary artery disease, leading to an increased need for interventions and stents. Collaborations between cardiac centers and stent manufacturers, as well as favorable regulatory approvals and reimbursement policies, are also contributing to the market expansion.

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Country/Region-wise Acumens

Which Country holds the Largest Market Share in Coronary Stent Market?

North America, particularly the United States, holds the largest market share in the coronary stent market due to several factors. These include the high prevalence of cardiovascular diseases, advanced healthcare infrastructure, technological innovation, robust reimbursement policies, high healthcare expenditure, a strong regulatory environment, and awareness and education initiatives.

High prevalence of cardiovascular diseases, including coronary artery disease, is attributed to factors such as sedentary lifestyles, unhealthy dietary habits, obesity, and an aging population. The United States has one of the most advanced healthcare infrastructures globally, with state-of-the-art hospitals, medical facilities, and research institutions. Technological innovations, such as drug-eluting stents (DES), bioresorbable stents, and advanced imaging technologies, have enhanced the efficacy and safety of coronary interventions.

Favorable reimbursement policies and insurance coverage for coronary interventions in North America encourage patients to undergo stent placement procedures, reducing out-of-pocket expenses and incentivizing healthcare providers to offer these procedures. The United States’ stringent regulatory environment ensures the safety and efficacy of medical devices, driving demand for approved coronary stents.

What Factors are Driving the Rapid Expansion of the Asia-Pacific in Coronary Stent Market?

The Asia-Pacific region is experiencing rapid expansion in the coronary stent market due to factors such as increasing prevalence of cardiovascular diseases, increasing healthcare expenditure, a rapidly aging population, technological advancements, government initiatives, disposable income, insurance coverage, awareness and education campaigns, and medical tourism.

The rising prevalence of cardiovascular diseases, driven by factors like urbanization, sedentary lifestyles, unhealthy dietary habits, and an aging population, creates a significant demand for coronary interventions like stent placement. Countries like China, India, and Japan are experiencing economic growth and increasing healthcare expenditure, leading to improved healthcare infrastructure and greater affordability of advanced medical treatments. The rapidly aging population, particularly the elderly, is at higher risk of cardiovascular diseases, driving the demand for coronary interventions like stent placement.

The region is also becoming a hub for medical device innovation and manufacturing, with local and multinational companies investing in research and development to develop cost-effective coronary stent technologies. Government initiatives and healthcare reforms are also driving the adoption of coronary stent procedures.

Competitive Landscape

The market is fiercely competitive, with established companies leveraging advanced technology, high-quality products, and strong brand image to drive revenue growth. They employ strategies like research, development, mergers, and technological innovations to expand their product portfolios.

Some of the prominent players operating in the Coronary Stent Market are

• Abbott
• Medtronic
• Boston Scientific Corporation
• Terumo Corporation
• B Braun Melsungen AG
• Biotronik
• Stentys SA
• MicroPort Scientific Corporation
• C. R. Bard, Inc.
• Cook Medical

Latest Developments

• 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.

Report Scope

Coronary Stent Market, By Category

Product Type

• Drug Eluting Stents
• Bioabsorbable Stents

Design

• Permanent coronary Stents
• Fully degradable coronary stents

Material

• Metallic
• Polymeric

End-User

• Hospitals
• Cardiac Centers

Region

• North America
• Europe
• Asia Pacific
• Rest of the World

Research Methodology of Market Research

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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