Coronary Stents Market Market Insights, Competitive Landscape and Market Forecast–2027

Coronary Stents Market Market Insights, Competitive Landscape and Market Forecast–2027

Coronary Stents Market By Product Type (Bare Metal Stents, Drug Eluting Stents, And Bioresorbable Scaffolds), By Material (Metal [Stainless Steel, COCR, PTCR, Nitinol] And Polymer), By End-User (Hospitals, Cardiology Centers, and Others), By Geography is expected to grow at a significant CAGR Forecast till 2027 owing to Increasing Prevalence of Cardiovascular Disorders (CVDS) and Rise in demand for Minimally Invasive Surgeries

Global Coronary Stents Market was valued at USD 9.27 billion in 2021, growing at a CAGR of 7.51% during the forecast period from 2022 to 2027, to reach USD 14.28 billion by 2027. The rise in demand for coronary stents is primarily attributed to the rising prevalence of cardiovascular disorders such as stroke, atherosclerosis, heart attack due to increasing geriatric population; growing number of PCI (Percutaneous Coronary Intervention) procedures; increase in demand for minimally invasive surgeries, technological advancement in the product line, among others.

Coronary Stents Market Dynamics:

According to WHO 2021 report, in 2019, CVD were the leading cause of death across the globe accounting for an estimated 17.9 million deaths which represent 32% of all the global deaths. Out of these CVD deaths, 85 % were due to stroke and heart attack. Moreover, according to a study published in NCBI 2020, Global Epidemiology of Ischemic Heart Disease: Results from the Global Burden of Disease Study by Khan M. AB, et al., Ischemic heart disease (IHD) affected around 126 million individuals (1,655 per 100,000), which was approximately 1.72% of the world’s population and around nine million deaths were caused by IHD globally. As per the same study, the global prevalence of IHD is rising and the current prevalence rate of 1,655 per 100,000 population is expected to exceed 1,845 by the year 2030. Thus, rising prevalence of IHD is contributing to the market growth of coronary stent as these stents are inserted into coronary arteries via a catheter to widen the artery and increase blood flow to ischaemic heart muscle.

In addition, growing number of PCI (Percutaneous Coronary Intervention) procedures is also a driving factor for the coronary stent market. For instance, according to a study published in NCBI 2021, Anticoagulants Used in Cardiac Catheterization of Patients With Chronic Lymphocytic Leukemia: A Case Report and Overview by Mararenko A. et al., Percutaneous coronary intervention (PCI) is one of the most frequently performed minimally invasive procedures and also plays a key role in the long-term survival of patients with ischemic heart disease. According to the study, over 965,000 angioplasties are performed annually in the United States alone. Thus, rising PCI surgery numbers can boost the global coronary stents market.

Certain factors such as few product recalls, risk of restenosis, and high cost of the procedure may pose a minor hurdle for the growth of the coronary stents market.

Coronary Stents Market Segment Analysis:

Coronary Stents by Product Type (Bare Metal Stents, Drug Eluting Stents, Bioresorbable Scaffolds), by Material (Metal [Stainless Steel, Cocr, Ptcr, Nitinol] and Polymer), by End-User (Hospitals, Cardiology Centers, and Others), and by Geography (North America, Europe, Asia-Pacific, and Rest of the World).

In Coronary Stents product segment, the drug eluting stent is expected to hold the largest market share during the forecast period. This is due to the various advantages of drug eluting stents over bare metal stents and others. Drug eluting stents are more effective in the prevention of restenosis than the use of bare-metal stents, the use of newer-generation drug-eluting stents also reduce the rate of stent thrombosis and myocardial infarction. For instance, as per the results of an observational study titled: Long-term (5-year) clinical evaluation of the Resolute zotarolimus-eluting coronary stent: The RESOLUTE US clinical trial published in NCBI 2019, by Kirtane A.J. et al., there was a 0.5% rate of stent thrombosis at 5 years among a relatively low-risk population of patients.

Moreover, recent product approval in is also anticipated to further boost the market of the drug eluting coronary stent market. For instance, in 2020, SCITECH Medical received CE Mark approval for its third generation drug eluting stent, INSPIRON Coronary Sirolimus Eluting Stent. Therefore, aforementioned factors are likely to propel the segmental growth of coronary stents market

North America is expected to dominate the overall Coronary Stents Market:

Among all the countries, North America is expected to dominate the overall Coronary Stents market during the forecast period. This domination is due to the improved healthcare infrastructure, favourable reimbursement scenario in the region.

Further, in the United States the rising prevalence of coronary heart diseases and other CVDs is projected to boost the coronary stent market in the region. For instance, as per the data of American Heart Association 2021, in the year 2018, Coronary Heart Disease (CHD) was the leading cause (42.1%) of deaths attributable to CVD in the US, followed by stroke (17.0%), high blood pressure (11.0%), Heart failure (9.6%), diseases of the arteries (2.9%), and other CVD (17.4%). Coronary artery diseases or coronary heart diseases is characterized by narrowing of arteries due deposition of cholesterol which require coronary stent to open the arteries for proper blood flow. Thereby, fuelling the coronary stents market.

In addition, presence of key manufacturers such as Medtronic, Boston Scientific Corporation, among others is also likely to boost the coronary stents market. Furthermore, recent product approval in the region will also contribute to the market growth. For instance, in 2019, German medical device company Biotronik received U.S. Food and Drug Administration (FDA) approval for Orsiro drug-eluting coronary stent (DES) system.

Europe and Asia-Pacific region has the future potential growth for the Global Coronary Stents. This is due to the rising burden of geriatric population in the European region countries and in Asian countries also. Rapid urbanization, increase in disposable income, improved government funding towards cardiovascular disorder management, and growing healthcare awareness about are the factors that are likely to drive the market. In addition, low manufacturing cost of coronary stents, new product approval and launch in the region is also expected to pose a lucrative market growth. For instance, in 2019, Meril Life Sciences (India) launched Evermine50, an everolimus-eluting coronary stent system.

Coronary Stents Market Key Players:

Some of the key market players operating in the Coronary Stents market includes Medtronic, Abbott, Boston Scientific Corporation, Biosensors International Group, Ltd., BIOTRONIK SE & Co. KG, B. Braun Melsungen AG, TERUMO CORPORATION, STENTYS SA, MicroPort Scientific Corporation, Meril Life Sciences Pvt. Ltd., and others.

Coronary Stents Market Recent Developmental Activities:

• In August 2020, Boston Scientific Corporation received FDA approval for its SYNERGY Everolimus-Eluting Platinum Chromium Coronary Stent System (Monorail and Over-The-Wire).
• In October 2020, Biosensors received the CE Mark for BioFreedomUltra, new drug coated coronary stent system with thin strut (84µm) CoCr polymer and Biosensors’ Biolimus A9 drug.

Key Takes Away from the Coronary Stents Market Report Study

• Market size analysis for current market size (2021), and market forecast for 5 years (2022-2027)
• The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the Coronary Stents market.
• Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years
• Key companies dominating the Global Coronary Stents Market.
• Various opportunities available for the other competitor in the Coronary Stents Market space.
• What are the top performing segments in 2021? How these segments will perform in 2027.
• Which is the top-performing regions and countries in the current market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for Coronary Stents market growth in the coming future?

Target Audience who can be benefited from Coronary Stents Market Report Study

• Coronary Stents providers
• Research organizations and consulting companies
• Coronary Stents-related organization, association, forum, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders in Coronary Stents
• Various End-users who want to know more about the Coronary Stents Market and latest technological developments in the Coronary Stents market.

Frequently Asked Questions for Coronary Stents Market:

What are Coronary Stents?

Coronary stents are small, expandable, wired mesh tubes that help in widening of a clogged artery and restore adequate blood flow to the heart. These stents are predominantly of two categories bare metal and drug eluting.

What is the market for Global Coronary Stents?

Global Coronary Stents Market was valued at USD 9.27 billion in 2021, growing at a CAGR of 7.51% during the forecast period from 2022 to 2027, to reach USD 14.28 billion by 2027.

What are the drivers for Global Coronary Stents?

The major drivers driving the demand for Coronary Stents are growing burden of old age population susceptible to various cardiovascular disorders, shifting preferences towards minimally invasive surgeries, technological advancement in the product line, among others.

What are the key players operating in Global Coronary Stents?

Some of the key market players operating in the Coronary Stents market includes Medtronic, Abbott, Boston Scientific Corporation, Biosensors International Group, Ltd., BIOTRONIK SE & Co. KG, B. Braun Melsungen AG, TERUMO CORPORATION, STENTYS SA, MicroPort Scientific Corporation, Meril Life Sciences Pvt. Ltd., and others.

What regions has the highest share in Coronary Stents market?

North America is anticipated to dominate the overall Coronary Stents market during the forecast period, 2022-2027 due to the improved healthcare infrastructure, favourable reimbursement scenario in the region. Moreover, recent product approvals and presence of key manufacturers are also the factors contributing to the highest market share.

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