Stents Market by Type (Coronary Stents, Peripheral Vascular Stents, Prostatic Stents), Material (Biomaterials, Metallic Stents), Mode of Delivery, End-User - Global Forecast 2024-2030
The Stents Market size was estimated at USD 12.99 billion in 2023 and expected to reach USD 13.95 billion in 2024, at a CAGR 7.51% to reach USD 21.57 billion by 2030.
Stents are inserted into blocked passageways to open passages in the heart, such as weak or narrowed arteries providing oxygen-rich blood. Stents are made of either plastic or metal and are coated with drugs to help prevent blocked arteries from closing. Stenting technology is increasingly preferred over conventional balloon angioplasty due to the introduction of advanced DES and evolving bioresorbable scaffolds. The rising incidence of cardiovascular diseases, the expanding elderly population, and the increasing preference for minimally invasive procedures have created a need for the utilization of stents. However, the surging incidence of recalls of stent systems and the risk associated with the stents may adversely impact the market's growth. Moreover, introducing new stent designs and product approvals from regulatory authorities are expected to increase the adoption of stents by healthcare facilities.
Regional Insights
The stent market in the Americas is advanced, driven by the presence of well-established and recognized manufacturers serving a diverse portfolio of stents and constantly upgrading their R&D to keep up with medical requirements. In the past few years, the U.S. Food & Drug Administration has provided multiple approvals for drug-eluting and cardiac stents, supporting further stent innovation in the region. The Asia-Pacific region is a mass provider of raw materials to Western nations and is occupied by trusted stent producers across India, China, and Japan. The country observes an improved reimbursement structure for heart surgeries and stent usage, and governments are working toward offering cost-effective stents to healthcare facilities. Europe has a more standardized stent market characterized by safety initiatives and research activities focused on introducing biodegradable stents. The Middle East region witnesses an exponential increase in investments in healthcare infrastructure advancements, creating the region a potential base for company expansion for market players.
Market Insights
- Market Dynamics
The market dynamics represent an ever-changing landscape of the Stents Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.- Market Drivers
- Prevalence of cardiovascular diseases and need for improved-quality stents
- Growing inclination toward minimally invasive surgeries
- Surging preference for biodegradable and bioabsorbable stents
- Market Restraints
- Surging incidence of recalls of stent systems
- Market Opportunities
- Emerging innovations in stent designs for high accuracy and reliability
- The surge in product approvals from regulatory authorities
- Market Challenges
- Risks of the utilization of stents and associated health consequences
- Market Segmentation Analysis
- Type: High global incidences of coronary diseases necessitating the deployment of coronary stents
- End-User: Expansion of hospitals across the world supported by government initiatives for improving healthcare infrastructure
- Market Disruption Analysis
- Porter’s Five Forces Analysis
- Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Stents Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Stents Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments- Olympus to Acquire Korean Gastrointestinal Stent Company Taewoong Medical Co., Ltd.
Olympus announces cutting-edge products in the stent market, offering unparalleled precision and control. Its unique design leads to faster deployment time and a structured system that guarantees optimal safety while working with this device. These stents offer remarkable performance characteristics that can provide incredible medical benefits for those undergoing procedures for numerous medical conditions. With technology advancements, Olympus is committed to helping improve patients' lives worldwide.
Medtech giant Cordis acquires MedAlliance in a USD 1.1 billion deal.
Medtech giant Cordis recently acquired Medalliance in a USD 1.1 billion deal, strengthening its grip in the stent market. The market for medical devices is rapidly growing owing to the surging demand for quality healthcare. This merger gives Cordis a significant competitive advantage in the global market and helps gain a larger share of the profits. By combining both companies' extensive expertise and resources, they will be able to meet consumer needs better and bolster their market presence. Cordis is now positioned to become a leading player in the world's stent market and is setting a high bar with this ambitious move that promises tangible results.
Getinge partners with Medtronic for the manufacturing of the Radiant
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Stents Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the Stents Market, highlighting leading vendors and their innovative profiles. These include Abbott Laboratories, Alvimedica, Andramed GmbH, Arterius Limited, B. Braun SE, Balton Sp. z o. o., Becton, Dickinson and Company, BIOTRONIK SE & Co. KG, Boston Scientific Corporation, Cardinal Health Inc., Cook Medical LLC, Elixir Medical Corporation, Eurocor Tech GmbH, Integer Holdings Corporation, KYOTO MEDICAL PLANNING Co., Ltd., Lepu Medical Technology(Beijing)Co., Ltd., Medtronic PLC, Meril Life Sciences Pvt. Ltd., MicroPort Scientific Corporation, Mitra Industries Pvt. Ltd., Nano Therapeutics Pvt. Ltd., QMD, REVA Medical, LLC, Rontis AG, Scitech Medical Products SA, SLTL Group, Stryker Corporation, Terumo Corporation, Veryan Medical Ltd., and W. L. Gore & Associates, Inc..
Market Segmentation & Coverage
This research report categorizes the Stents Market to forecast the revenues and analyze trends in each of the following sub-markets:- Type
- Coronary Stents
- Bare-metal Stents
- Drug-eluting Stents
- Peripheral Vascular Stents
- Prostatic Stents
- Stent Grafts
- Urinary Stents
- Material
- Biomaterials
- Metallic Stents
- Cobalt-Chromium
- Nickel Titanium
- Platinum Chromium
- Stainless Steel
- Mode of Delivery
- Balloon-expandable Stents
- Self-expanding Stents
- End-User
- Ambulatory Surgical Centers
- Cardiac Centers
- Hospitals
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
Please Note: PDF & Excel + Online Access - 1 Year
- Americas
- Coronary Stents
- Market Drivers
- 1. Preface
- 1.1. Objectives of the Study
- 1.2. Market Segmentation & Coverage
- 1.3. Years Considered for the Study
- 1.4. Currency & Pricing
- 1.5. Language
- 1.6. Stakeholders
- 2. Research Methodology
- 2.1. Define: Research Objective
- 2.2. Determine: Research Design
- 2.3. Prepare: Research Instrument
- 2.4. Collect: Data Source
- 2.5. Analyze: Data Interpretation
- 2.6. Formulate: Data Verification
- 2.7. Publish: Research Report
- 2.8. Repeat: Report Update
- 3. Executive Summary
- 4. Market Overview
- 5. Market Insights
- 5.1. Market Dynamics
- 5.1.1. Drivers
- 5.1.1.1. Prevalence of cardiovascular diseases and need for improved-quality stents
- 5.1.1.2. Growing inclination toward minimally invasive surgeries
- 5.1.1.3. Surging preference for biodegradable and bioabsorbable stents
- 5.1.2. Restraints
- 5.1.2.1. Surging incidence of recalls of stent systems
- 5.1.3. Opportunities
- 5.1.3.1. Emerging innovations in stent designs for high accuracy and reliability
- 5.1.3.2. The surge in product approvals from regulatory authorities
- 5.1.4. Challenges
- 5.1.4.1. Risks of the utilization of stents and associated health consequences
- 5.2. Market Segmentation Analysis
- 5.2.1. Type: High global incidences of coronary diseases necessitating the deployment of coronary stents
- 5.2.2. End-User: Expansion of hospitals across the world supported by government initiatives for improving healthcare infrastructure
- 5.3. Market Trend Analysis
- 5.3.1. Surging government approvals coupled with increased availability of stents in emerging countries of the Americas
- 5.3.2. High provision of raw materials and improved government assistance to reduce stent prices in Asia
- 5.3.3. Enhanced reimbursement policies in Europe and favorable manufacturing facility expansion in the Middle East & Africa
- 5.4. Cumulative Impact of Russia-Ukraine Conflict
- 5.5. Cumulative Impact of High Inflation
- 5.6. Porter’s Five Forces Analysis
- 5.6.1. Threat of New Entrants
- 5.6.2. Threat of Substitutes
- 5.6.3. Bargaining Power of Customers
- 5.6.4. Bargaining Power of Suppliers
- 5.6.5. Industry Rivalry
- 5.7. Value Chain & Critical Path Analysis
- 5.8. Regulatory Framework Analysis
- 5.9. Client Customization
- 6. Stents Market, by Type
- 6.1. Introduction
- 6.2. Coronary Stents
- 6.3. Peripheral Vascular Stents
- 6.4. Prostatic Stents
- 6.5. Stent Grafts
- 6.6. Urinary Stents
- 7. Stents Market, by Material
- 7.1. Introduction
- 7.2. Biomaterials
- 7.3. Metallic Stents
- 8. Stents Market, by Mode of Delivery
- 8.1. Introduction
- 8.2. Balloon-expandable Stents
- 8.3. Self-expanding Stents
- 9. Stents Market, by End-User
- 9.1. Introduction
- 9.2. Ambulatory Surgical Centers
- 9.3. Cardiac Centers
- 9.4. Hospitals
- 10. Americas Stents Market
- 10.1. Introduction
- 10.2. Argentina
- 10.3. Brazil
- 10.4. Canada
- 10.5. Mexico
- 10.6. United States
- 11. Asia-Pacific Stents Market
- 11.1. Introduction
- 11.2. Australia
- 11.3. China
- 11.4. India
- 11.5. Indonesia
- 11.6. Japan
- 11.7. Malaysia
- 11.8. Philippines
- 11.9. Singapore
- 11.10. South Korea
- 11.11. Taiwan
- 11.12. Thailand
- 11.13. Vietnam
- 12. Europe, Middle East & Africa Stents Market
- 12.1. Introduction
- 12.2. Denmark
- 12.3. Egypt
- 12.4. Finland
- 12.5. France
- 12.6. Germany
- 12.7. Israel
- 12.8. Italy
- 12.9. Netherlands
- 12.10. Nigeria
- 12.11. Norway
- 12.12. Poland
- 12.13. Qatar
- 12.14. Russia
- 12.15. Saudi Arabia
- 12.16. South Africa
- 12.17. Spain
- 12.18. Sweden
- 12.19. Switzerland
- 12.20. Turkey
- 12.21. United Arab Emirates
- 12.22. United Kingdom
- 13. Competitive Landscape
- 13.1. Market Share Analysis, 2023
- 13.2. FPNV Positioning Matrix, 2023
- 13.3. Competitive Scenario Analysis
- 13.3.1. Olympus to Acquire Korean Gastrointestinal Stent Company Taewoong Medical Co., Ltd.
- 13.3.2. Medtech giant Cordis acquires MedAlliance in a USD 1.1 billion deal.
- 13.3.3. Getinge partners with Medtronic for the manufacturing of the Radiant[TM] balloon-expandable covered stent.
- 13.3.4. Medtronic receives CE mark for the first balloon-expandable covered stent indicated for ChEVAR.
- 13.3.5. Medtronic launches the latest generation drug-eluting coronary stent system following CE Mark approval.
- 13.3.6. Biosensors International Wins FDA Approval For Drug-Eluting Coronary Stent.
- 13.3.7. San Diego’s Reva Medical raises USD 45 M to develop naturally absorbable stents for lower legs.
- 13.3.8. Micro-Tech Endoscopy Announces Distribution Partnership with Thoracent to Bring Leading Tracheal Y-Stent System to the U.S. Market.
- 13.3.9. FDA-Approved FFRangio from CathWorks Receives USD 75 Million Investment from Medtronic with an Option for Eventual Acquisition for Over a Half a Billion.
- 13.3.10. Abbott launches Xience Skypoint drug-eluting stent in extended sizes.
- 14. Competitive Portfolio
- 14.1. Key Company Profiles
- 14.2. Key Product Portfolio
Research Assistance
Download our eBook: How to Succeed Using Market Research
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook