Stents Market Size, Share & Trends Analysis Report By Product (Vascular, Non-vascular), By Material (Metallic, Non-metallic), By End-use (Hospitals, Ambulatory Care Centers, Specialty Clinics), By Region, And Segment Forecasts, 2024 - 2030

Stents Market Size, Share & Trends Analysis Report By Product (Vascular, Non-vascular), By Material (Metallic, Non-metallic), By End-use (Hospitals, Ambulatory Care Centers, Specialty Clinics), By Region, And Segment Forecasts, 2024 - 2030

Stents Market Growth & Trends

The global stents market size is expected to reach USD 18.46 billion by 2030, registering a CAGR of 3.8% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market's growth can be attributed to the increasing prevalence of chronic diseases, such as peripheral vascular diseases (PVDs) and coronary artery diseases (CAD). As per the American Heart Association (AHA) and their Heart Disease and Stroke Statistics - 2022 Update, cardiovascular disease (CVD) was responsible for around 19.05 million global fatalities.

Moreover, according to estimates by the European Commission, the number of new cancer cases is expected to reach 2.74 million in 2022, a 2.3% increase from 2020. Additionally, cancer deaths are predicted to rise by 2.4% when compared to 2020. As per the Australian Institute of Health and Welfare report, there were 25,000 hospitalizations for asthma in 2020-21, with a rate of 100 per 100,000 population. The rate among children aged 0-14 was significantly higher at 225 compared to 68 for those over 15. The escalating prevalence of chronic diseases is expected to boost the demand for stents.

Furthermore, physical inactivity, smoking, and chronic stress, among others, can collectively contribute to the development of chronic diseases. For instance, according to the Centers for Disease Control and Prevention (CDC) report, smoking is responsible for around 90% of lung cancer-related deaths and about 80% of chronic obstructive pulmonary disease (COPD) deaths. Additionally, the increasing adoption of unhealthy lifestyles is expected to escalate the market growth.

As per the CDC report, in 2021, approximately 11.5% of U.S. adults aged 18 years or older, which amounts to almost 12 out of every 100 people, are smokers. This indicates that an estimated 28.3 million adults residing in the U.S. smoke cigarettes. Additionally, more than 16 million Americans are affected by smoking-related diseases. This indicated the growing demand for the market. Moreover, the increasing initiatives undertaken by key market players will supplement market growth. In April 2023, Terumo started a new clinical study for the Ultimaster Nagomi sirolimus-eluting coronary stent system in patients undergoing complex PCI.

Stents Market Report Highlights

• Based on product, the vascular stents segment dominated the market in 2023, holding the largest share of 88.40%. The increasing prevalence of cardiovascular diseases is anticipated to escalate market growth
• Based on material, the metallic stents segment held a significant share of 62.10% in the market in 2023. Increasing research and development activities in stents is expected to boost market growth. Moreover, the increasing preference for minimally invasive procedures further fueled the segment's growth
• Based on end-use, hospitals dominated the market in 2023, representing the largest share of 74.24%. Increasing emphasis on value-based healthcare and the expanding demand for percutaneous coronary intervention are escalating the market growth
• North America emerged as the leading region in 2023, holding the largest share of 43.69%. The increasing prevalence of lifestyle-related chronic diseases within the region, such as coronary artery disease and peripheral arterial disease, will supplement market growth

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