Coronary Stents Market Forecast and Growth 2031

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

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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 Regional Insights

The regional trends and factors influencing the Coronary Stents Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Coronary Stents Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Coronary Stents Market Market Report Scope

Market Players Density: Understanding Its Impact on Business Dynamics

The Coronary Stents Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Coronary Stents Market are:

1. Abbott Laboratories
2. Medtronic PLC
3. Boston Scientific Corporation
4. Terumo Corporation
5. B. Braun Melsungen AG
6. Biosensors International Group, Ltd.

Disclaimer: The companies listed above are not ranked in any particular order.

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