A coronary stent is a tube used during percutaneous coronary intervention to unblock blocked coronary arteries and restore blood flow to the heart (PCI). This tube is a small, flexible metal mesh extending inside a coronary artery to repair narrowed arteries and lessen heart attack symptoms like chest pain.
The market for coronary stents in 2021 was USD 8.56 billion and will reach USD 13.03 billion by 2030 at a 4.78% CAGR.
It is employed in a percutaneous coronary intervention (PCI) procedure. Furthermore, coronary stents are employed in about 90% of PCI procedures. Stents are little expandable mesh tubes implanted following a balloon angioplasty treatment to keep clogged arteries open.
Table of Contents
Globally, cardiovascular diseases (CVDs) rank among the leading causes of death. The World Health Organization (WHO) reports that around 17.5 million deaths annually are attributed to CVDs, accounting for 31% of all recorded fatalities worldwide. 7.4 million deaths are attributable to coronary heart disease, and 6.7 million to stroke. One of the prevalent cardiac disorders, coronary artery disease (CAD), is responsible for about 45.1% of fatalities in the US. This disorder develops when the coronary arteries become more rigid and less flexible due to plaque buildup and narrowing. Healthy eating, regular exercise, and stopping smoking are lifestyle changes that reduce the risk of CAD.
Improvements in coronary stents have increased the likelihood of individuals requiring cardiovascular surgery. The most recent improvement in the industry aims to reduce the sensitivity of medications in drug-eluting stents and reduce the danger associated with surgery. For instance, the Resolute Onyx Stent System was introduced in 2017 by Medtronic Japan Co. Ltd., a division of Medtronic PLC. The stent’s design makes it easier to easily penetrate the artery walls.
It is due to factors like the rising incidence of cardiovascular illnesses, the aging population, and the rising acceptability of minimally invasive endovascular operations. However, the market’s expansion is being constrained by strict governmental regulations, expensive stent implant costs, and the availability of alternative treatment options. Due to the increasing prevalence of cardiovascular illnesses, the markets in India, Brazil, China, and Russia will expand rapidly throughout the projection period.
The market for coronary stents was ruled by the Drug-Eluting Stents (DES) segment in 2021, with 66.0% of revenue share on the basis of product. The constant innovation and release of new devices are critical factors in cementing DES’s position as the preferred device for PCI procedures. The market’s rivals continue to create and introduce technologically sophisticated DES, with significant debuts, including XIENCE Skypoint by Abbott Laboratories, Resolute Onyx by Medtronic, and Synergy by Boston Scientific.
End User Insights
By end users, the hospital sector held the biggest market share in 2021 and will grow significantly. This is because the majority of procedures, including angioplasty, are carried out in hospital facilities. Due to the hospital’s accessibility to the greatest facilities, these operations are becoming increasingly popular in hospitals.
With a revenue share of approximately 32.0% in 2021, North America ruled the market for coronary stents. The market is primarily driven by a sedentary lifestyle that causes obesity and other cardiovascular disorders like heart attack, stroke, ischaemic heart disease (IHD), etc. Technological developments in coronary stent technologies, like drug-eluting stents and the utilization of biodegradable materials, also drive market growth. Additionally, the market expansion is accelerated by the presence of established market players like Abbott, Medtronic, and Boston Scientific.
The market for Asia Pacific will grow rapidly during the projection period. This market is driven by a number of additional factors, including improved CAD screening, economic expansion, regulatory revisions, and notably favorable reimbursement in select nations, including Australia and South Korea.
- Biosensors International Group Limited
- Medtronic plc
- BIOTRONIK SE & Co. KG
- Boston Scientific Corporation
- B. Braun Melsungen AG
- Cook Medical
- Terumo Corporation
- STENTYS SA
- Vascular Concepts
- Meril Life Sciences Pvt. Ltd
- MicroPort Scientific Corporation
The market for coronary stents in 2021 was USD 8.56 billion and will reach USD 13.03 billion by 2030 at a 4.78% CAGR. The market is expanding primarily as a result of the rising demand for coronary stents to treat various cardiovascular illnesses in the rapidly aging, obese, and a hypertensive population that is also prone to heart disease and high blood pressure. Due to the increased likelihood of health complications for those with such illnesses, the healthcare industry is undergoing quick research and development to introduce novel treatments, including using coronary stents to address these problems.