Coronary Stents Market: Current Analysis and Forecast (2022-2028)

Coronary Stents Market: Current Analysis and Forecast (2022-2028)

Coronary stents (CS) are expandable tubular metallic devices that are introduced into the coronary arteries that demonstrate stenosis due to an underlying atherosclerosis disease. With the advancements in medical technology and the introduction of a variety of stents are the important factors that drive the market of the coronary stent market. Furthermore, the increasing geriatric population coupled with the rising prevalence of heart diseases in them spurs the market size of the coronary stents. As per CDC, 17% of adults aged above 65 years have coronary heart diseases and 7.6% of them have faced a stroke. Moreover, the changing lifestyle preferences have significantly increased the diseases such as diabetes and obesity that are responsible for increasing cardiac disorders

The global coronary stents market is projected to expand significantly with a CAGR of 5% from 2022 to 2028 owing to an increase in the prevalence of coronary heart disorders. Further, 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 US. As a result, the unprecedented rise in CAD incidence is predicted to boost demand for an effective coronary stent device for treatment.

• Based on type, the market is categorized as bare-metal stents, drug-eluting stents, and bioabsorbable stents. The drug-eluting stents segment held a significant share in the market of coronary stents. This is mainly due to the advantages offered to them such as it can help lower plaque buildup in your arteries and increase blood flow to your heart. Furthermore, the higher rate of stents failure is also responsible for the growth of the coronary stents market. For instance, annually, around 3% of the stents fail.
• Based on mode of delivery, the market is segmented into balloon-expandable stents and self-expanding stents. The balloon-expandable stents are expected to have a significant market share in the coronary stent market. This is mainly due to the usage of advanced materials in it along with the frequent product launches by major players. For instance, in September 2021, ivascular company launched iCover. It is a new generation BX-covered stent made of CoCrL605 with three tantalum radiopaque markers at each end. CoCr alloy stents can reach higher radial despite the decreased metal burden.
• Based on end-users, the market is segmented into hospitals & clinics, ambulatory surgical centers, and others. The hospitals & clinics are expected to witness lucrative growth during the forecast period. The specialization of the hospitals in heart diseases and related diseases along with the presence of skilled staff attributed to the significant market share of the cardiac centers in the coronary stent market.
 
• For a better understanding of the market adoption of the coronary stents, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. The APAC region constitutes a significant market for the coronary stents industry due to the presence of emerging economies in the region as well as the increasing population in the region increases the demand for advanced medical equipment in the region. As per, UNFPA, around 60% of the world’s population lives in the APAC region. Furthermore, the presence of well-established market players and frequent product launches in the region is also a contributing factor to the growth of the coronary stents market.
• Some of the major players operating in the market are Abbott laboratories, Medtronic plc, Boston Scientific Corporation, Terumo Corporation, B Braun Melsungen AG, Biotronik, Stentys SA, MicroPort Scientific Corporation, C. R. Becton, Dickinson and Company., and Cook Medical,. among others. Several M&A’s along with partnerships have been undertaken by these players to develop new and advanced market.