Coronary Stents Market

Market Overview:

The global coronary stents market size reached USD 11.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 18.2 Billion by 2032, exhibiting a growth rate (CAGR) of 5.46% during 2024-2032. The market is experiencing significant growth mainly driven by the rising prevalence of cardiovascular diseases, advancements in stent technology and a growing elderly population. Emerging markets and technological innovations, such as bioresorbable stents, further propels market growth across the globe.

Coronary stents are small, self-expanding tubular metallic devices introduced inside narrow coronary arteries to keep them open after a balloon angioplasty procedure. These stents are coated with a medication, which is slowly released to prevent the walls of arteries from plaque buildup and re-narrowing. They also alleviate heart disease symptoms, such as chest pain and shortness of breath, and allow normal flow of blood and oxygen to the heart. As they are minimally invasive (MI) and require shorter recovery time, coronary stents are gaining traction over coronary artery bypass surgeries around the world.

Coronary Stents Market Trends:

Rising Preference for Drug-Eluting Stents (DES)

Drug-eluting stents (DES) are becoming the preferred option over bare-metal stents (BMS) due to their effectiveness in reducing restenosis which is the re-narrowing of arteries after stenting. These stents are coated with medication that is slowly released to prevent the formation of scar tissue within the artery, thus significantly lowering the risk of blockages. For instance, in May 2024, Abbott introduced the XIENCE Sierra Everolimus eluting coronary stent system in India offering enhanced stent design with a new delivery system and unique sizes to aid in treating complex cases. The stent features a specialized coating to reduce artery re-blocking and has demonstrated efficacy in challenging lesions and complex conditions. In line with this, clinical studies have shown that DES improves long-term outcomes by reducing the need for repeat procedures compared to BMS. According to coronary stents market analysis, the market is set for significant growth due to the rising adoption of drug-eluting stents (DES) over bare-metal stents mainly driven by their superior performance in reducing restenosis and long-term complications.

Technological Advancements

Technological advancements in coronary stents include the development of bioresorbable stents which dissolve after their job is done, thus eliminating the need for long-term implants and reducing risks like late stent thrombosis. For instance, in July 2024, MicroPort Scientific Corporation's Firesorb® bioresorbable cardiac stent gained approval from the National Medical Products Administration in China. The stent has shown exceptional performance in clinical studies, with low rates of target lesion failure and thrombosis. Drug-coated balloons are another innovation that deliver drugs directly to the artery without leaving behind a permanent device generally ideal for complex lesions or patients with higher risks of restenosis. These technologies aim to improve patient outcomes by reducing long-term complications, enhancing vessel healing, and offering more personalized treatment options in coronary interventions.

Growing Geriatric Population and Rise of Cardiovascular Diseases

With the rising global geriatric population, the prevalence of cardiovascular diseases, particularly coronary artery disease, is on the rise. According to the report published by World Health Organization (WHO), by 2030, 1 in 6 people will be over 60 years old, and there will be 1.4 billion older individuals. By 2050, this number will double to 2.1 billion, with 426 million aged 80 or older. As arteries harden and narrow due to age-related factors like cholesterol buildup, elderly individuals are increasingly requiring coronary interventions. The higher susceptibility to heart conditions among this group drives the demand for coronary stents to restore blood flow and prevent complications like heart attacks. Advancements in stent technology combined with the need for safe more effective treatments in older patients, are contributing significantly to the coronary stents market growth. This demand is further fuelled by extended life expectancy and improved access to healthcare globally.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global coronary stents market report, along with forecasts at the global, regional and country levels from 2024-2032. Our report has categorized the market based on type, biomaterial, mode of delivery and end user.

Breakup by Type:

• Drug-eluting Stents
• Bare-metal Coronary Stents
• Bioabsorbable Stents
   

Breakup by Biomaterial:

• Metallic Biomaterial
• Polymeric Biomaterial
• Natural Biomaterial
   

Breakup by Mode of Delivery:

• Balloon-expandable Stents
• Self-expanding Stents
   

Breakup by End User:

• Hospitals
• Ambulatory Surgical Centers
• Others
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global coronary stents market. Detailed profiles of all major companies have also been provided. Some of the companies covered include:

• Abbott Laboratories
• B. Braun Melsungen AG
• Biotronik SE & Co. KG
• Boston Scientific Corporation
• Elixir Medical Corporation
• Lepu Medical Technology (Beijing) Co. Ltd.
• Medtronic plc
• Meril Life Sciences Pvt. Ltd.
• MicroPort Scientific Corporation
• Terumo Corporation
• Translumina GmbH
   

Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Coronary Stents Market News:

• In December 2023, Terumo India launched Ultimaster Nagomi a new drug-eluting designed for treating coronary artery disease. The stent is suitable for small or large sized coronary arteries offering customized options for a larger patient group.
• In August 2024, major global private equity firms, including KKR, Apax Partners and TPG Capital, announced their plans to acquire Sahajanand Medical Technologies (SMT), India's largest cardiac stent maker, at a valuation of Rs 3,500 crore to Rs 4,000 crore. The stent maker had a 31 percent market share in India and had filed papers for an IPO to raise Rs 1,500 crore.

Report Coverage: