Coronary Stent Market - Size & Upcoming Industry Trends (2024-2032)

Coronary Stent Market Synopsis:

Coronary Stent Market Size Was Valued at USD 11.93 Billion in 2023, and is Projected to Reach USD 23.07 Billion by 2032, Growing at a CAGR of 7.60% From 2024-2032.

The coronary stent market includes the creation, sale, and use of compact tubes which expand to open occluded or constricted coronary arteries. These devices are placed in a patient to address narrowing of an artery, commonly following an angioplasty where the blood vessel is enlarged. Market has different kinds of stents, including bare-metal stents, drug eluting stents and bioresorbable stents, that are useful to address medical requirements and foster patient clinical conditions. Such products are applied in the treatment of coronary artery disease (CAD), one of the leading causes of death globally, and are central to virtually all interventional cardiology procedures across the world.

The global market for coronary stents has experienced rapid growth over the past few years mainly because of the high incidence of CAD across the globe especially for the aging population and high-risk regions for cardiovascular diseases such as hypertension, obesity and diabetes. With the increased prevalence of lifestyle diseases, the need for interventional management of CAD especially through the use of coronary stents has been boosted. Technological factors include the availability of drug eluting stents that could release medicines to prevent restenosis, and bio-absorbable stents that self-dissolve over time have been key in the growth in this market. These innovations are targeted to positively alter long-term behaviour and safety for patients, causing a higher usage among stents in clinical practice thereby transforming these devices as a mainstay in interventional cardiology.

The demand for coronary stents is also boosted in these markets by increasing access to healthcare, favourable government-driven programs on cardiovascular diseases, and increased reimbursement mechanisms. Nonetheless, high costs of implementing the superior stents, as well as the issue with entering certain markets due to regulatory concerns put a damper on widespread deployment of the product. However, the entry of new domains and weak reimbursement procedure pose problems; yet key players globally are investing in Research and Developing to make stenting better with less prices. Such a commitment to continuing innovation is expected to ensure that the global market remains on an ascendancy, with stakeholders developing new products that incorporate technical and economic feasibility for people of different classes and age in different nations.

Coronary Stent Market Trend Analysis:

Technological Innovation Driving Market Growth

• Another existing trend in the marketplace is the constant innovation in coronary stents most especially the drug eluting stents. These drug-eluting stents that prevent restenosis which is the re-narrowing of artery has type of medications preferred by HC providers because of some benefits they offer such as lower rate of repeat procedures, and better outcomes for the patients. Business are now shifting their attention on creating stents that enable the targeted release of drugs with an aim of facilitating healing, reduction of compounding issues. It is for this reason that drug-eluting stents have gained popularity as they optimize the processes of coronary interventions and ensure that effects for the patient are more durable this is without side effects as compared to those that were recorded earlier before.
• However, the growing concept of bioresorbable stents is creating added flavours in the market. Unlike previous devices, these devices disintegrate in the body after the intended job is done, thereby without the requirement for ‘chronic’ implantation and thus lower odd s of late thrombosis. Such a trend has been brought forward by the exponential growth of material science and coating technologies in stents that are not only efficient but safer and much more durable. These features of modern tissue stents translate into improved positioning and a wider range of clinical uses and applications, boosting the coronary stent market and at the same time improving patient outcomes at minimal risk.

Opportunities in Emerging Markets

• New coronary stent markets are still opening worldwide, especially in such regions as Asia-Pacific and Latin America. These are the areas that are facing an epidemic HV of cardiovascular diseases as a result of urbanization, changes in the general lifestyle, and more Established aged populations. Over time, healthcare systems in these areas have been enhancing and so governments are focusing on developing medical devices and cardiovascular endeavours to attempt to make coronary stents much more easily and affordably available. Growing focus on heart health is, therefore, putting pressure on interventional cardiology solutions such as stents as healthcare systems search for viable solutions to contain the rising cardiovascular diseases cases.
• For those bearing special(sized) stakes in the markets under growth process, such newer markets offer a perfect channel for expansion. These may include establishing affiliation with key players with the potential for, relocating manufacturing activities, and adopting promotional strategies that will likely resonate with conditions of those markets. In addition, there is growing consumer awareness of cardiovascular disease, as well as higher levels of disposable income, promote the adoption of complicated procedures such as coronary stenting. Therefore, there are expectations that the demand for coronary stents in these markets will maintain a strong upward trend, and any company targeting these markets will have a wide potential to grow its market share and to consolidate its positions in these highly saturated markets.

Coronary Stent Market Segment Analysis:

Coronary Stent Market Segmented on the basis of type, material and end user.

By Type, Drug-Eluting Stents segment is expected to dominate the market during the forecast period

• There is nowhere near as much variation in the coronary stent market that is primarily divided geographically and by type: DES, BMS, and Bioresorbable Stents. Drug-Eluting Stents are the most common type because they are designed to deploy medication that inhibits restenosis – the re-coiling of blood arteries – enhancing patient outcomes. These stents are prepped with drugs which have a role. appropriate to the reduction of inflammation and prevention of smooth muscle cell proliferation in the arterial walls which is essential for a patent artery. DES are especially employed in intricate coronary interventional procedures because they provide the lowest rate of restenosis in contrast to BMS.
• Bare-Metal Stents, in contrast, was the first generation of stents and is still valuable for precise offices in which drug-releasing advances are not needed or appropriate. BMS are constructed from stainless steel or cobalt and are not coated with a drug layer. Even though they are less expensive and are mechanically less complex, BMS has been shown to have higher restenosis compared to DES. The next category is the Bioresorbable Stents which are relatively new on the market and disappear from the body on their own after INTERVAL. This type of stents prove to be helpful because ideally the vessel should be allowed to coil up and regain a more normal structure without any foreign object lodged in it. Bioresorbable stents are created to be more of the temporary solution to support the wall of the artery while the structure strengthens and reinforces, and there is a decrease in potential adverse effects and enhanced patient experience.

By material, Metal stents segment expected to held the largest share

• Material used in the construction of coronary stents has a direct bearing on their performance, the interaction with the human body and durability. Metal stents are the original kind and are generally fashioned from stainless steel, cobalt-chromium or some other kind of alloy. These materials make the stent strong enough but also flexible as it will expand to fit the artery. They are fixed from metal alloys with stainless steel having significant strength and highly utilized in coronary interventions because they offer ultimate support to the artery. Both bare-metal and drug-eluting stents are similar and are usually available in the market. However, radial metallic stents do have drawback in that the metal is relatively stiff and there are issues to do with healing and late phase complications such as thrombosis.
• On the other hand, polymer-based stents are somewhat more novel and improved from the traditional metal stents and are more flexible and more accommodating than the metal ones. They use biodegradable/bioresorbable polymers for building these stents as these polymers disintegrate over time post their function in the artery. One useful aspect of having polymers in stents is that after the artery has healed the stent just disappears removing all long-term risks of having foreign material in the body. Polymer ones also simplify the controlled drug delivery in the drug-eluting stents since the polymer layer can be manipulated to deliver medication at a certain pace maximizing the impact of the therapy. Polymer based stents are anticipated to witness enhanced demand in near future over metal stents due to low risk aspect and patient’s health benefits.

Coronary Stent Market Regional Insights:

North America is Expected to Dominate the Market Over the Forecast period

• For the year 2023, North America emerges as the largest market for coronary stent with approximately about 38% of the global market share. The following factors have also contributed to this leading position; high healthcare spending, developed health care infrastructure and a large population of CAD patients. Cardiovascular diseases still rank high among the leading causes of death and are among the major concerning factors for health expenditure in the United States. This substantial patient pool, along with faster pace of technological developments in each type of stent – specifically, the emergence of drug-eluting and bioresorbable stents – have boosted the demand for coronary stents. Leading participants including Abbott, Boston Scientific, and Medtronic are integral for consolidating North America’s market share and concurrently keeping the region innovative in the supply of coronary stenting.
• First and foremost, advanced coronary stents pose a high patient burden for various pathologies and complications, related to and independent of the intervention itself. Secondly, the American and Canadian reimbursement systems have contributed to enhancing the application of advanced coronary stents. The rise in the volume of PCI procedures done across North America is also attributed to the recent development within the cardiovascular industry as this procedure usually involves stent implantation. However, the direction towards the population health and early intervention to promote lifestyle changes, early diagnosis, and early intervention for heart diseases is leading more patients in the direction of interventional procedures such as coronary stenting. These factors combined helps North America to further entrench itself as the market leader in the production and distribution of the coronary stent.

Active Key Players in the Coronary Stent Market:

• Abbott Laboratories (United States)
• Alvimedica (Turkey)
• Amaranth Medical (United States)
• B. Braun Melsungen AG (Germany)
• Biosensors International (Singapore)
• Biotronik (Germany)
• Boston Scientific Corporation (United States)
• Elixir Medical Corporation (United States)
• Lepu Medical Technology (China)
• Medinol (Israel)
• Medtronic (Ireland)
• Meril Life Sciences (India)
• MicroPort Scientific Corporation (China)
• SMT (Sahajanand Medical Technologies) (India)
• Terumo Corporation (Japan)
• Other Active Players