As per the latest Future Market Insights (FMI) analysis, demand for coronary stents and portable coronary stents will rise exponentially in the coming years. An aging population and a rising prevalence of risk factors such as cardiovascular diseases (CVDs), complex lesions, diabetes, obesity, and others are expected to drive demand for coronary stents over the forecast period.
Added advantages of stenting procedures include substantial improvement of blood flow and prevention of further damage to the heart muscle. It also helps in improving the symptoms of heart disease, such as angina and shortness of breath thereby, reducing the need for coronary bypass surgery. Thus, surgeons prefer stenting, as it is a minimally invasive procedure and post-operative recovery is relatively fast.
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According to the WHO, in 2019, CVDs were among the major causes of mortality worldwide. In 2019, an estimated 17.9 million people died from CVDs, responsible for 32% of all worldwide mortalities. The global Coronary Stents market is expected to grow at a significant CAGR between 2022 and 2032, in comparison to the 7% CAGR registered from 2016 to 2021.
Furthermore, according to research published in the National Library of Medicine in June 2021, one of the CVDs, coronary artery disease (CAD), causes roughly 610,000 fatalities yearly (an estimated 1 in 4 deaths) and is the major cause of mortality in the USA. As a result, the unprecedented rise in CAD incidence is predicted to boost demand for an effective coronary stent device for treatment. This factor is expected to bolster the demand throughout the forecast period.
Increasing Prevalence of Obesity Likely to Augment the Overall Demand
The increasing global aging population is resulting in an increasing patient pool with major cardiovascular diseases. Also, hypertension is emerging as a major public health concern. Aged individuals are more prone to various cardiovascular diseases due to high total serum cholesterol levels.
Also, obesity is one of the major risk factors responsible for various cardiovascular diseases worldwide. Excessive weight or obesity causes abnormal or excessive accumulation of fats inside the artery lumen that causes several health problems such as coronary heart diseases. Hence, weight loss and obesity management are integral parameters to avoid any kind of cardiovascular disease.
According to WHO estimates, each year, 2.8 million deaths across the globe are due to diseases caused by obesity. Thus, the increasing aging and obese population are major factors expected to fuel the growth of the global coronary stents market over the forecast period.
Increasing the Number of Stenting Procedures to Push the Sales
Added advantages of stenting procedures include substantial improvement of blood flow and prevention of further damage to the heart muscle. Patients suffering from coronary artery blockage are prescribed coronary stenting. Angioplasty is the first line of treatment for patients suffering from acute coronary artery blockages. The number of patients undergoing stenting has been increasing steadily over the last decade. This is due to the emergence of outpatient coronary stenting procedures, which reduces long hospital stays. Further, the usage of bioabsorbable coronary scaffolds in coronary blockage has proven more beneficial over drug-eluting stents.
Therefore, an increasing number of cardiologists referring to stenting procedures for patients suffering from CAD is a major factor expected to fuel revenue growth of the coronary stents market in the near future.
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Some of the leading factors limiting the growth of the market include-
The North American region dominates the coronary stents market share by securing the maximum share during the forecast period. The USA is leading the market size due to the growing number of heart diseases and the rising patient who has CAD during the forecast period. However, the rising adoption of angioplasty among patients is increasing the all-over production of coronary stents, which increases the USA coronary stents market share.
According to National Center for Health Statistics, every year, 1 in 4 deaths in the USA are caused due to coronary artery disease (CAD). Approximately 785,000 people in the USA suffer from their first heart attack, and 470,000 suffer from myocardial infarction. In addition, due to changing lifestyle habits, smoking and pollution are increasing the prevalence of coronary artery diseases in the USA in recent years.
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The Europe region is capturing a significant market share due to rising government initiatives during the forecast period. The United Kingdom
coronary stents market is a prominent leader that contributes a significant share in the region by conducting new initiatives and investing in the healthcare sector during the forecast period. The key manufacturers have increased the United Kingdom
coronary stents market size by innovating advanced technology tools to treat patients efficiently in recent years. Moreover, the innovation of the PCI procedure is advanced and most accepted by the healthcare sector in the USA during the forecast period. In addition, this procedure helps to improve survivability and lower chest pain.
The Asia Pacific coronary stents market is one of the fastest-growing regions during the forecast period capturing a high CAGR. Korea is one of the leading countries that increase the coronary stents market growth by growing medical infrastructure during the foreseen time. The manufacturers in Korea have been developing expensive medical devices and innovating as per end-users' demands to acquire maximum output in recent years. Moreover, these players are launching high-value medical consumables devices for the effective treatment of coronary disease patients, which is likely to increase the Korean coronary stents market size. Coronary stent manufacturers in India have evolved by prioritizing innovation and cost-effectiveness to thrive in a competitive industry.
Japan is another country in the Asia Pacific region that also capture the maximum share in the region during the forecast period. Rising awareness related to coronary treatment and the dropping price of coronary stents increased the Japan coronary stents market growth during the forecast period. Moreover, the Growing sedentary lifestyle and growing management of the disease are surging the demand for coronary stents in Japan during the forecast period. In addition, the growing center for cardiac disease and rising coronary stent implantation are flourishing the Japanese coronary stents market growth in recent years.
The increasing prevalence of coronary artery diseases (CAD) is likely to augment the market growth
The increasing prevalence of coronary artery disease is fuelling the demand for interventional cardiology treatment in the USA. Patients suffering from long-term CAD are opting for angioplasty as the first line of treatment.
According to National Center for Health Statistics, every year 1 in 4 deaths in the USA are caused due to coronary artery diseases (CAD) and approximately 785,000 people in the USA suffer from their first heart attack and 470,000 suffer from myocardial infarction.
This is due to changing lifestyle habits, smoking, pollution, and other factors. This increasing prevalence of coronary artery diseases and higher healthcare expenditure in lower-middle-income countries is projected to boost the growth of the global coronary stents market over the forecast period.
Favorable Government Support for Healthcare Development to Push the Market Positively
Increased government investment in healthcare and conducting new initiatives to bring in devices at affordable prices in cost constraint markets such as China are influencing this market as well.
For instance, in China, to address inflated pricing and other issues in the delivery of expensive medical supplies, the Chinese government launched a centralized procurement scheme for high-value medical consumables in January 2021.
The government aims to use this initiative to skip the associated suppliers and buy the items straight from the manufacturers, lowering the inflated pricing. As a result, the cost of coronary stents has dropped dramatically in China. The average price of coronary stents has been reduced by 93 % since 2019 to grab the national tender.
Some key startups in the Coronary Stents market include-
The top Coronary Stents market players are constantly upgrading their offerings to help end users. They are investing in partnerships, acquisitions, collaborations, and new product launches to gain a competitive edge in the market. For instance:
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 5.1% from 2022 to 2032 |
| Market Value in 2022 | US$ 33.36 Million |
| Market Value in 2032 | US$ 51.2 Million |
| Base Year for Estimation | 2021 |
| Historical Data | 2016 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in US$ Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered |
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| Regions Covered |
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| Key Countries Profiled |
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| Key Companies Profiled |
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As of 2022, the Coronary Stents market is slated to reach a valuation of US$ 33.36 Million.
From 2022 to 2032, sales of Coronary Stents are expected to grow at a 5.1% CAGR.
By 2032, Future Market Insights expects the Coronary Stents market to reach US$ 51.2 Million.
1. Executive Summary | Coronary Stents Market
2. Assumptions and Acronyms Used
3. Research Methodology
4. Market Introduction
4.1. Market Definition
4.2. Market Taxonomy
5. Market Analysis Scenario
5.1. Market Size (US$ Million) and Forecast
5.1.1. Market Size and Y-o-Y Growth
5.1.2. Absolute $ Opportunity
5.2. Market Overview
5.2.1. Value Chain
5.2.2. Epidemiology of Cardiovascular Diseases
5.2.3. Key Regulations and Reimbursement Scenario
5.2.4. PEST Analysis
6. Market Dynamics
6.1. Macro-economic Factors
6.2. Drivers
6.2.1. Supply Side
6.2.2. Demand Side
6.3. Restraints
6.4. Opportunity
6.5. Trends
7. Global Market Analysis and Forecast, By Product
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis By Product
7.1.2. Y-o-Y Growth Projections By Product
7.2. Market Size (US$ Million) and Volume (Units) Forecast By Product
7.2.1. Drug Eluting Stent (DES)
7.2.2. Bare Metal Stent (BMS)
7.2.3. Bioresorbable Vascular Stent (BVS)
7.3. Global Market Attractiveness Analysis, By Product Type
8. Global Market Analysis and Forecast, By Raw Material
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis By Raw Material
8.1.2. Y-o-Y Growth Projections By Raw Material
8.2. Market Size (US$ Million) Forecast By Raw Material
8.2.1. Cobalt Chromium
8.2.2. Stainless Steel
8.2.3. Platinum – Chromium
8.2.4. Nickel-Titanium
8.2.5. Polymer
8.3. Global Market Attractiveness Analysis, By Raw Material
9. Global Market Analysis and Forecast, By End User
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis By End User
9.1.2. Y-o-Y Growth Projections By End User
9.2. Market Size (US$ Million) Forecast By End User
9.2.1. Hospitals
9.2.2. Ambulatory Surgical Centers
9.2.3. Cardiac Catheterization Laboratories
9.3. Market Attractiveness Analysis By End User
10. Global Market Analysis and Forecast, By Region
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis By Region
10.1.2. Y-o-Y Growth Projections By Region
10.2. Market Size (US$ Million) Forecast By Region
10.2.1. North America
10.2.2. Latin America
10.2.3. Brazil
10.2.4. Western Europe
10.2.5. Eastern Europe
10.2.6. Asia Pacific Excluding Japan
10.2.7. Japan
10.2.8. Middle East and Africa (MEA)
10.3. Market Attractiveness Analysis By Region
11. North America Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis By Country
11.1.2. Y-o-Y Growth Projections By Country
11.2. Market Size (US$ Million) Forecast By Country
11.2.1. USA
11.2.2. Canada
11.3. Market Size (US$ Million) Forecast By Product
11.3.1. Drug Eluting Stent (DES)
11.3.2. Bare Metal Stent (BMS)
11.3.3. Bioresorbable Vascular Stent (BVS)
11.4. Market Size (US$ Million) Forecast By Raw Material
11.4.1. Cobalt Chromium
11.4.2. Stainless Steel
11.4.3. Platinum – Chromium
11.4.4. Nickel-Titanium
11.4.5. Polymer
11.5. Market Size (US$ Million) Forecast By End User
11.5.1. Hospitals
11.5.2. Ambulatory Surgical Centers
11.5.3. Cardiac Catheterization Laboratories
11.6. Market Attractiveness Analysis
11.6.1. By Country
11.6.2. By Product
11.6.3. By Raw Material
11.6.4. By End User
11.7. Prominent Trends
11.8. Drivers and Restraints: Impact Analysis
12. Latin America Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis By Country
12.1.2. Y-o-Y Growth Projections By Country
12.2. Market Size (US$ Million) and Volume (Units) Forecast By Country
12.2.1. Mexico
12.2.2. Argentina
12.2.3. Rest of Latin America
12.3. Market Size (US$ Million) Forecast By Product
12.3.1. Drug Eluting Stent (DES)
12.3.2. Bare Metal Stent (BMS)
12.3.3. Bioresorbable Vascular Stent (BVS)
12.4. Market Size (US$ Million) Forecast By Raw Material
12.4.1. Cobalt Chromium
12.4.2. Stainless Steel
12.4.3. Platinum - Chromium
12.4.4. Nickel-Titanium
12.4.5. Polymer
12.5. Market Size (US$ Million) Forecast By End User
12.5.1. Hospitals
12.5.2. Ambulatory Surgical Centers
12.5.3. Cardiac Catheterization Laboratories
12.6. Market Attractiveness Analysis
12.6.1. By Country
12.6.2. By Product
12.6.3. By Raw Material
12.6.4. By End User
12.7. Prominent Trends
12.8. Drivers and Restraints: Impact Analysis
13. Brazil Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis By Country
13.1.2. Y-o-Y Growth Projections By Country
13.2. Market Size (US$ Million) Forecast By Product
13.2.1. Drug Eluting Stent (DES)
13.2.2. Bare Metal Stent (BMS)
13.2.3. Bioresorbable Vascular Stent (BVS)
13.3. Market Size (US$ Million) Forecast By Raw Material
13.3.1. Cobalt Chromium
13.3.2. Stainless Steel
13.3.3. Platinum – Chromium
13.3.4. Nickel-Titanium
13.3.5. Polymer
13.4. Market Size (US$ Million) Forecast By End User
13.4.1. Hospitals
13.4.2. Ambulatory Surgical Centers
13.4.3. Cardiac Catheterization Laboratories
13.5. Market Attractiveness Analysis
13.5.1. By Product
13.5.2. By Raw Material
13.5.3. By End User
14. Western Europe Market Analysis and Forecast
14.1. Introduction
14.1.1. Basis Point Share (BPS) Analysis By Country / Region
14.1.2. Y-o-Y Growth Projections By Country
14.2. Market Size (US$ Million) and Volume (Units) Forecast By Country / Region
14.2.1. Germany
14.2.2. France
14.2.3. Italy
14.2.4. Spain
14.2.5. United Kingdom
14.2.6. BENELUX
14.2.7. Rest of Western Europe
14.3. Market Size (US$ Million) Forecast By Product
14.3.1. Drug Eluting Stent (DES)
14.3.2. Bare Metal Stent (BMS)
14.3.3. Bioresorbable Vascular Stent (BVS)
14.4. Market Size (US$ Million) Forecast By Raw Material
14.4.1. Cobalt Chromium
14.4.2. Stainless Steel
14.4.3. Platinum – Chromium
14.4.4. Nickel-Titanium
14.4.5. Polymer
14.5. Market Size (US$ Million) Forecast By End User
14.5.1. Hospitals
14.5.2. Ambulatory Surgical Centers
14.5.3. Cardiac Catheterization Laboratories
14.6. Market Attractiveness Analysis
14.6.1. By Country
14.6.2. By Product
14.6.3. By Raw Material
14.6.4. By End User
14.7. Prominent Trends
14.8. Drivers and Restraints: Impact Analysis
15. Eastern Europe Market Analysis and Forecast
15.1. Introduction
15.1.1. Basis Point Share (BPS) Analysis By Country
15.1.2. Y-o-Y Growth Projections By Country
15.2. Market Size (US$ Million) and Volume (Units) Forecast By Country
15.2.1. Russia
15.2.2. Poland
15.2.3. Rest of Eastern Europe
15.3. Market Size (US$ Million) Forecast By Product
15.3.1. Drug Eluting Stent (DES)
15.3.2. Bare Metal Stent (BMS)
15.3.3. Bioresorbable Vascular Stent (BVS)
15.4. Market Size (US$ Million) Forecast By Raw Material
15.4.1. Cobalt Chromium
15.4.2. Stainless Steel
15.4.3. Platinum – Chromium
15.4.4. Nickel-Titanium
15.4.5. Polymer
15.5. Market Size (US$ Million) Forecast By End User
15.5.1. Hospitals
15.5.2. Ambulatory Surgical Centers
15.5.3. Cardiac Catheterization Laboratories
15.6. Market Attractiveness Analysis
15.6.1. By Country
15.6.2. By Product
15.6.3. By Raw Material
15.6.4. By End User
15.7. Prominent Trends
15.8. Drivers and Restraints: Impact Analysis
16. Asia Pacific Excluding Japan (APEJ) Market Analysis and Forecast
16.1. Introduction
16.1.1. Basis Point Share (BPS) Analysis By Country / Region
16.1.2. Y-o-Y Growth Projections By Country / Region
16.2. Market Size (US$ Million) and Volume (Units) Forecast By Country / Region
16.2.1. China
16.2.2. India
16.2.3. ASEAN
16.2.4. Australia and New Zealand
16.2.5. Rest of Asia Pacific Excluding Japan
16.3. Market Size (US$ Million) Forecast By Product
16.3.1. Drug Eluting Stent (DES)
16.3.2. Bare Metal Stent (BMS)
16.3.3. Bioresorbable Vascular Stent (BVS)
16.4. Market Size (US$ Million) Forecast By Raw Material
16.4.1. Cobalt Chromium
16.4.2. Stainless Steel
16.4.3. Platinum – Chromium
16.4.4. Nickel-Titanium
16.4.5. Polymer
16.5. Market Size (US$ Million) Forecast By End User
16.5.1. Hospitals
16.5.2. Ambulatory Surgical Centers
16.5.3. Cardiac Catheterization Laboratories
16.6. Market Attractiveness Analysis
16.6.1. By Country
16.6.2. By Product
16.6.3. By Raw Material
16.6.4. By End User
16.7. Prominent Trends
16.8. Drivers and Restraints: Impact Analysis
17. Japan Market Analysis and Forecast
17.1. Introduction
17.2. Market Size (US$ Million) and Volume (Units) Forecast By Product
17.3. Market Size (US$ Million) Forecast By Product
17.3.1. Drug Eluting Stent (DES)
17.3.2. Bare Metal Stent (BMS)
17.3.3. Bioresorbable Vascular Stent (BVS)
17.4. Market Size (US$ Million) Forecast By Raw Material
17.4.1. Cobalt Chromium
17.4.2. Stainless Steel
17.4.3. Platinum – Chromium
17.4.4. Nickel-Titanium
17.4.5. Polymer
17.5. Market Size (US$ Million) Forecast By End User
17.5.1. Hospitals
17.5.2. Ambulatory Surgical Centers
17.5.3. Cardiac Catheterization Laboratories
17.6. Market Attractiveness Analysis
17.6.1. By Country
17.6.2. By Product
17.6.3. By Raw Material
17.6.4. By End User
17.7. Prominent Trends
17.8. Drivers and Restraints: Impact Analysis
18. MEA (Middle East & Africa) Market Analysis and Forecast
18.1. Introduction
18.1.1. Basis Point Share (BPS) Analysis By Country
18.1.2. Y-o-Y Growth Projections By Country
18.2. Market Size (US$ Million) and Volume (Units) Forecast By Country
18.2.1. GCC Countries
18.2.2. South Africa
18.2.3. North Africa
18.2.4. Rest of Middle East and Africa
18.3. Market Size (US$ Million) Forecast By Product
18.3.1. Drug Eluting Stent (DES)
18.3.2. Bare Metal Stent (BMS)
18.3.3. Bioresorbable Vascular Stent (BVS)
18.4. Market Size (US$ Million) Forecast By Raw Material
18.4.1. Cobalt Chromium
18.4.2. Stainless Steel
18.4.3. Platinum – Chromium
18.4.4. Nickel-Titanium
18.4.5. Polymer
18.5. Market Size (US$ Million) Forecast By End User
18.5.1. Hospitals
18.5.2. Ambulatory Surgical Centers
18.5.3. Cardiac Catheterization Laboratories
18.6. Market Attractiveness Analysis
18.6.1. By Country
18.6.2. By Product
18.6.3. By Raw Material
18.6.4. By End User
18.7. Prominent Trends
18.8. Drivers and Restraints: Impact Analysis
19. Competition Landscape
19.1. Company Profiles (Details – Overview, Financials, Strategy, Recent Developments, Company Share Analysis)
19.2. Global Players
19.2.1. TERUMO CORPORATION
19.2.2. Boston Scientific Corporation
19.2.3. Medtronic
19.2.4. Vascular Concepts
19.2.5. B. Braun Melsungen AG
19.2.6. BIOTRONIK SE & Co. KG
19.2.7. Abbott Laboratories
19.2.8. Biosensors International Group, Ltd.
19.2.9. HEXACATH
19.2.10. STENTYS SA
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Coronary Stents Market
