The global coronary stents market size reached US$ 10.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 15.2 Billion by 2028, exhibiting a growth rate (CAGR) of 6.3% during 2023-2028.
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:
The growing incidence of diabetes, obesity and high blood pressure (BP) is escalating the risk of atherosclerosis disease. This, along with the rising geriatric population, which is more likely to develop cardiovascular diseases (CVDs), represents one of the significant factors impelling the growth of the coronary stent market. Apart from this, the growing popularity of minimally invasive surgeries (MIS) is resulting in the increasing adoption of coronary stents that involve small incision wounds, short hospital stays and fast recovery. Other factors contributing to the market growth include the development of bifurcated stents, improving healthcare infrastructure and rising manufacturing of products using biodegradable materials. Furthermore, the leading market players are introducing advanced products, which is anticipated to drive the market in the coming years.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global coronary stentsmarket report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, biomaterial, mode of delivery and end user.
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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 and Translumina GmbH.
Base Year of the Analysis
Type, Biomaterial, Mode of Delivery, End User, Region
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
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 and Translumina GmbH.
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Key Questions Answered in This Report
The global coronary stents market was valued at US$ 10.5 Billion in 2022.
We expect the global coronary stents market to exhibit a CAGR of 6.3% during 2023-2028.
The rising demand for coronary stents in minimally invasive (MI) surgeries, as they aid in alleviating symptoms of heart disease, including chest pain and shortness of breath, is primarily driving the global coronary stents market.
The sudden outbreak of the COVID-19 pandemic had led to postponement of elective coronary artery surgical procedures to reduce the risk of the coronavirus infection upon hospital visits, thereby negatively impacting the global market for coronary stents.
Based on the type, the global coronary stents market has been divided into drug-eluting stents, bare-metal coronary stents, and bioabsorbable stents. Among these, drug-eluting stents currently exhibit a clear dominance in the market.
Based on the biomaterial, the global coronary stents market can be categorized into metallic biomaterial, polymeric biomaterial, and natural biomaterial. Currently, metallic biomaterial accounts for the majority of the global market share.
Based on the mode of delivery, the global coronary stents market has been segregated into balloon-expandable stents and self-expanding stents, where self-expanding stents currently hold the largest market share.
Based on the end user, the global coronary stents market can be bifurcated into hospitals, ambulatory surgical centers, and others. Currently, hospitals exhibit a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global coronary stents market 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, and Translumina GmbH.
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