Coronary Stents Market

SKU: DMMD730 | Last Updated On: Sep 24 2022 | Available Formats

>Coronary Stents Market Expected to reach a high CAGR 3.2% By 2029:

Coronary Stents Market is segmented By Product Type (Bare-metal Stents, Drug-Eluting Stents, Bioabsorbable Stents), By Material (Metallic, Polymeric, Natural Biomaterial, Others), By End-User (Hospitals, Cardiac Specialty Clinics, Ambulatory Surgical Centers), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Size, Share, Outlook, and Opportunity Analysis, 2022-2029.

Coronary Stents Market is expected to grow at a CAGR 3.2%  during the forecast period (2022-2029).

A coronary stent is a tube-shaped device placed in coronary arteries that supply blood to the heart, keeping arteries open in the treatment of coronary heart disease. It is used in a procedure called percutaneous coronary intervention (PCI). In addition, coronary stents are used in more than 90% of PCI procedures. Stents are small expandable mesh tubes that are inserted to keep clogged arteries open after a balloon angioplasty procedure.

Coronary Stents Market Dynamics

The global coronary stents market growth is driven by the increase in the prevalence of coronary artery diseases and improvement in patient outcomes with stenting. Advancements in drug-eluting stent (DES) technologies have consisted of continually refining existing platforms to improve stent delivery and develop more biocompatible drug polymers.

Rapid technological advancements in coronary stents will drive the market growth  

For several decades, coronary stents have been used in coronary and peripheral procedures for sealing the perforation in the arteries. Currently, the field of percutaneous coronary intervention is witnessing many advances to make it safe and effective for treatment during complex coronary artery disease surgeries. Several large-scale manufacturing companies in the healthcare industry aim to develop technologically advanced products for enhanced deliverability, safety, and efficacy of stents. For instance, in February 2018, Medtronic gained FDA approval for its Resolute Onyx 2 mm. It is one of the smallest-sized drug-eluting stents on the market. These rapid advancements, along with the demand for effective and minimally invasive surgery, are anticipated to open up a huge potential for coronary stent market growth.

There has also been a high demand for minimally invasive surgical procedures, which significantly drives the coronary stent market. Thus, there has been a reduction in post-operative trauma and complications with the use of a minimally invasive surgical procedure, which is the major growth driver. Reduced hospital stays and lesser healing time are the other advantages associated with the use of advanced and miniaturized coronary stents. Advancements in drug-eluting stent (DES) technologies have consisted of continually refining existing platforms to improve stent delivery and develop more biocompatible drug polymers.

The side effects associated with coronary stents will hamper the growth of the market

Despite the increasing demand for treatment solutions, the side effects associated with the use of coronary stents might hinder growth up to a certain extent. Moreover, stringent government regulations pertaining to product approval will further restrict the market growth. Hence these factors are the primary reasons restricting growth.

COVID-19 Impact Analysis

The COVID-19 pandemic has an unprecedented impact on health care and cardiac surgery. As per the Society of Thoracic Surgeons (STS) database 2021, Cardiac surgery volumes in the United States fell by more than half during the COVID-19 pandemic’s first wave, with the biggest drops observed in the New England and mid-Atlantic regions. Studies that looked at the early weeks and months of COVID-19 found that when hospitals' services were shut down or severely limited and patients were hesitant to seek help there were widespread cardiac effects such as missed ST-segment elevation myocardial infarction (STEMIs), higher rates of cardiac arrest, and fewer diagnostic and elective procedures.​ COVID-19 has changed the world, and the United States continues to accumulate the largest number of COVID-related deaths worldwide. As per the article the "Impact of COVID -19 pandemic on STEMI care, an expanded analysis from the United States, published in August 2020, the COVID-19 Pandemic has adversely affected many aspects of STEMI care, including timely access to the cardiac catheterization laboratory for primary percutaneous coronary intervention (PPCI).

Coronary Stents Market Segment Analysis

The drug-eluting stents segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)        

The drug-eluting stent segment has accounted for the largest revenue, as it can be used for the treatment of a large number of disorders, such as diabetes, renal disease, percutaneous coronary intervention, and ST-segment elevation myocardial infarction (STEMI). There are also various technological advances seen in the drug-eluting stent segment that may witness tremendous growth.

When used with anti-clotting medication as prescribed, new and improved versions of drug-eluting stents are now considered safe and effective in the majority of cases. In general, drug-eluting stents are less likely than bare-metal stents to cause restenosis. A drug-eluting stent is the most common type of stent used to treat a blockage of the heart arteries. Drug-eluting stents have successfully treated many people with heart problems, avoiding the need for more invasive procedures like coronary artery bypass surgery. The advantages of drug-eluting stents and their increasing adoption are likely to propel the market growth over the forecast period.

Also, the presence of market players offering innovative products supports market growth. For instance, Abbott’s Xience Family of Drug-eluting Stents is the world-class leading drug-eluting stents with unparalleled outcomes. Implanted in over 15 million patients and studied in 120+ clinical trials, XIENCE Stent provides consistent long-term safety data beyond 10 years.XIENCE Stent allows interventional cardiologists (ICs) to achieve the positive outcomes they want for their patients.

Coronary Stents Market

Metrics

Details

Market CAGR

3.2%

Segments Covered

By Product Type, By Material, By End-User, By Application, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

Coronary Stents Market Geographical Analysis

North America region holds the largest market share of the global coronary stents market

North America holds the largest market share for coronary stents due to the dominance of the top companies present in the regional market. There is also an increase in the aging population, an increase in the prevalence of heart diseases, and technological advancements found in the region. In addition, other factors, such as a good reimbursement scenario, have been driving the North American coronary stent market.

According to the American Heart Association, in 2019, approximately 121.5 million U.S. adults had some form of cardiovascular disease. Also, according to the Centers for Disease Control and Prevention, 2019, approximately 18.2 million U.S. adults have coronary artery disease, and 805,000 Americans have a heart attack each year. The increasing patient pool is boosting the market growth in the region.

Furthermore, the availability of technologically advanced products in the United States also drives market growth. For instance, in April 2019, Biotronik started its commercial launch of the PK Papyrus covered coronary stent system for use in the emergency treatment of acute coronary perforations in the United States. Also, as per the news published by Diagnostics and Interventional Cardiologist (DIAC) in April 2019, more than 800,000 percutaneous coronary intervention (PCI) procedures are performed annually in the United States and fewer than 8,000 require a covered stent. Hence, the need for coronary stents is likely to drive growth in the United States.

Coronary Stents Market Competitive Landscape

The coronary stents market is a moderately competitive presence of local as well as global companies.  Some of the key players which are contributing to the growth of the market include Abbott Laboratories, B. Braun Medical Inc., Biosensors International Group Ltd, BIOTRONIK SE & Co. KG, Boston Scientific Corporation, Cook Medical Technologies, Medtronic PLC, Terumo Corporation, Translumina GmbH, Cardinal Health, among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the Coronary Stents Market globally. For instance, in November 2021, Royal Philips launched peripheral and coronary artery applications, including the Nexcimer laser system in the North American region. Nexcimer laser system is available for peripheral and coronary atherectomy and lead extraction procedures.

Abbott Laboratories  

Overview:

Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following segments, established pharmaceutical products, nutritional products, diagnostic products, and medical devices.     

Product Portfolio:

XIENCE FAMILY OF DRUG ELUTING STENTS:  The Implanted in over 15 million patients and studied in 120+ clinical trials, XIENCE Stent provides consistent long-term safety data beyond 10 years.

Frequently Asked Questions

What is the Projected CAGR value of the Coronary Stents Market?

Coronary Stents Market is expected to grow at a CAGR of 3.2% during the forecasting period 2022-2029.

Which region controlled the global market during 2022-2029?

North America region Controls the Coronary Stents Market during 2022-2029

Which is the fastest growing region in the Coronary Stents Market?

Among all regions, Asia Pacific is the fastest growing market share during the forecast period 

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