Global Coronary Stents Market Size, Segmentation, Trends and Growth Analysis Forecast by 2031

Coronary Stents Market Overview and Analysis:

The Coronary Stents market size was valued at USD 5.9 billion in 2023 and is forecast to grow at a CAGR of approximately 1.2% during 2024 and 2031.

The cardiac stents market encompasses a range of devices used in the treatment of coronary artery disease, offering a critical solution to alleviate blockages and restore blood flow to the heart. With the increasing prevalence of cardiovascular diseases globally, driven by factors such as sedentary lifestyles, unhealthy dietary habits, and aging populations, the demand for cardiac stents continues to rise steadily. Technological advancements in stent design and materials, including the development of drug-eluting stents that help prevent restenosis, have significantly enhanced treatment outcomes and patient satisfaction.

Moreover, the growing adoption of minimally invasive procedures, such as percutaneous coronary intervention (PCI), has further fueled the demand for cardiac stents, as they offer shorter recovery times and reduced risks compared to traditional open-heart surgeries. Additionally, the expanding pool of patients with risk factors for cardiovascular diseases, coupled with increasing awareness about preventive healthcare measures, is expected to drive sustained growth in the cardiac stents market in the foreseeable future. The growth of the cardiac stents market is primarily driven by the increasing prevalence of cardiovascular diseases worldwide, fueled by factors such as sedentary lifestyles, unhealthy dietary habits, and aging populations. As these risk factors contribute to the development of conditions like coronary artery disease, the demand for cardiac stents rises as a crucial intervention to restore blood flow to the heart. Furthermore, advancements in stent technology, including the development of drug-eluting stents that help prevent restenosis, have significantly improved treatment outcomes and patient satisfaction. Additionally, the adoption of minimally invasive procedures like percutaneous coronary intervention (PCI) has expanded, driven by factors such as shorter recovery times and reduced risks compared to traditional open-heart surgeries. These factors collectively contribute to the growth trajectory of the cardiac stents market, with an increasing emphasis on preventive healthcare measures further bolstering demand.

Market Segmentation: The Coronary Stent Market is Segmented by Product Type (Drug-Eluting Stent, Bare Metal Coronary Stent, and Bioabsorbable Stent), Biomaterial (Metallic Biomaterial, Polymeric Biomaterial, and Natural Biomaterial), End-users (Hospitals and Ambulatory Surgical Centers), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report provides revenues and market forecasts in terms of value in USD million for the above segments.

Coronary Stents Market Trends:

In the cardiac stents market, several notable trends are shaping the landscape. One significant trend is the increasing adoption of bioresorbable stents, which gradually dissolve within the body after providing structural support to the arteries. This technology aims to address long-term complications associated with permanent metal stents, such as restenosis and thrombosis, by allowing the artery to return to its natural state over time. Moreover, there is a growing focus on the development of next-generation stents with enhanced biocompatibility and improved drug-eluting capabilities to further reduce the risk of adverse events and enhance patient outcomes. Additionally, there is a rising demand for drug-eluting stents with biodegradable polymers, which release therapeutic agents to prevent restenosis while minimizing the long-term presence of foreign materials in the body. Furthermore, advancements in imaging techniques and computational modeling are facilitating personalized stent designs tailored to individual patient anatomies and disease characteristics, leading to improved treatment efficacy and patient safety. These trends collectively reflect the ongoing innovation and evolution within the cardiac stents market, driven by the pursuit of safer, more effective, and patient-centric treatment options for cardiovascular diseases.

Market Drivers:

Technological Advancements

Continuous advancements in stent design, materials, and coatings are driving market growth. Innovations such as bioresorbable stents, drug-eluting stents with biodegradable polymers, and improved imaging techniques enable better treatment outcomes, reduced complications, and enhanced patient safety. Additionally, advancements in manufacturing processes allow for the production of stents with precise geometries tailored to individual patient anatomies, improving procedural success rates and long-term patient outcomes.

Increasing Prevalence of Cardiovascular Diseases

The rising prevalence of cardiovascular diseases, including coronary artery disease and atherosclerosis, is a major driver for the cardiac stents market. Factors such as sedentary lifestyles, unhealthy dietary habits, obesity, and aging populations contribute to the growing burden of cardiovascular diseases worldwide. As a result, there is a higher demand for minimally invasive treatment options like stent implantation to restore blood flow in blocked or narrowed arteries and alleviate symptoms such as chest pain and shortness of breath. This increasing patient pool fuels the demand for cardiac stents, driving market growth.

Market Restraints:

One notable market restraint for the cardiac stents market is the high cost associated with stent procedures and devices. Despite the effectiveness of stent implantation in treating coronary artery disease, the expenses involved in the procedure, including the cost of the stent itself, hospitalization, physician fees, and post-procedural care, can pose a significant financial burden on patients, healthcare providers, and healthcare systems. This financial barrier may limit access to stent procedures for certain patient populations, particularly in regions with limited healthcare resources or for individuals without adequate insurance coverage. Additionally, reimbursement challenges and pricing pressures faced by healthcare providers and manufacturers can further impact market growth. Striving for cost-effective solutions while maintaining quality and efficacy remains a challenge in the cardiac stents market.

COVID-19 Impact on Coronary Stents Market:

The COVID-19 pandemic has had a substantial impact on the cardiac stents market. While the need for cardiac interventions persists, the pandemic has led to disruptions in healthcare systems worldwide, including delays or cancellations of elective procedures such as cardiac stent implantations. Hospitals faced with surges in COVID-19 cases diverted resources and personnel away from non-urgent cardiac procedures, resulting in deferred treatments for patients with coronary artery disease. Moreover, patients were often hesitant to seek medical care due to fears of contracting the virus in healthcare settings, leading to decreased procedural volumes. Supply chain disruptions and logistical challenges also affected the availability of cardiac stents and other medical devices. Despite these setbacks, the market witnessed a gradual recovery as healthcare systems adapted to the pandemic, implementing safety measures and resuming elective procedures. Telemedicine and remote monitoring technologies emerged as alternative strategies for managing cardiac patients, potentially influencing long-term trends in the market. Overall, the COVID-19 pandemic underscored the importance of flexibility and innovation in cardiac care delivery while highlighting the resilience of the cardiac stents market.

Segmental Analysis:

Bioabsorbable Stent Segment is Expected to Witness Significant Growth Over the Forecast Period

Bioabsorbable stents are innovative medical devices used to treat narrowed or blocked arteries. Unlike traditional metal stents, which remain in the body permanently, bioabsorbable stents gradually dissolve over time, leaving behind a healed artery. These stents are typically made from biocompatible materials such as polylactic acid (PLA) or polyglycolic acid (PGA), which break down into non-toxic byproducts that are easily absorbed and eliminated by the body. One of the key advantages of bioabsorbable stents is their temporary nature. They provide support to the artery while it heals, reducing the risk of long-term complications associated with permanent stents, such as restenosis. Additionally, bioabsorbable stents allow for better imaging of the treated area using techniques such as angiography and intravascular ultrasound, which may be challenging with permanent metal stents in place. Bioabsorbable stents are primarily used in the treatment of coronary artery disease (CAD) and peripheral artery disease (PAD). They are implanted using minimally invasive procedures and gradually dissolve over time, allowing the artery to return to a more natural state. However, there are challenges associated with bioabsorbable stents, including ensuring scaffold integrity and biocompatibility. Further research is needed to address these challenges and demonstrate the clinical efficacy of bioabsorbable stents compared to permanent stents. Overall, bioabsorbable stents offer a promising alternative for patients with narrowed arteries, with the potential to improve outcomes and reduce long-term complications.

Natural Biomaterial Segment is Expected to Witness Significant Growth Over the Forecast Period

Natural biomaterials are substances derived from natural sources, such as plants, animals, or microbes, that are used in medical applications due to their biocompatibility and biodegradability. One significant application of natural biomaterials is in the development of cardiac stents, which are used to treat coronary artery disease (CAD) by keeping narrowed arteries open and improving blood flow to the heart muscle. One example of a natural biomaterial used in cardiac stents is collagen, a protein found in connective tissues. Collagen-based stents are biocompatible and promote cell adhesion and growth, which can aid in the healing process of the artery. Additionally, collagen degrades naturally over time, reducing the risk of long-term complications associated with permanent stents. Another natural biomaterial used in cardiac stents is chitosan, which is derived from chitin, a substance found in the shells of crustaceans such as shrimp and crabs. Chitosan has antimicrobial properties and promotes tissue regeneration, making it suitable for use in stents to prevent infection and enhance healing. Natural biomaterials offer several advantages for use in cardiac stents. They are less likely to cause inflammation or immune reactions compared to synthetic materials, reducing the risk of complications. Additionally, natural biomaterials can be designed to degrade at a controlled rate, allowing the stent to provide support to the artery during the healing process and then dissolve once it is no longer needed. Despite these advantages, there are challenges associated with the use of natural biomaterials in cardiac stents, such as ensuring sufficient mechanical strength and durability. Further research is needed to optimize the properties of natural biomaterials for use in cardiac stents and to demonstrate their efficacy and safety in clinical settings.

Hospitals Segment is Expected to Witness Significant Growth Over the Forecast Period

Hospitals are pivotal in treating coronary artery disease (CAD) with cardiac stents, small mesh tubes that open narrowed heart arteries. Through diagnostic tests like coronary angiography, hospitals determine the extent of CAD and plan treatments, often including percutaneous coronary intervention (PCI) to place stents. Equipped with specialized labs for PCI procedures, hospitals ensure safe and effective stent placement. Post-procedure, hospitals provide monitoring and care. Stents can be metallic, drug-eluting (coated with medication to prevent re-narrowing), or bioabsorbable (gradually dissolve). Challenges like restenosis and thrombosis persist, but ongoing research aims to improve stent technology for better patient outcomes.

North America Region is Expected to Witness Significant Growth Over the Forecast Period

Cardiovascular disease is prevalent in populous countries like China and India, driving growth in the coronary stent market due to an aging population and new product developments. For example, the Australian Bureau of Statistics reported that in 2020-2021, 571,000 Australians aged 18 and over (2.9% of the adult population) had chronic heart problems, indicating a significant need for cardiovascular interventions. Japan is also poised to be a key market player, fueled by product launches and collaborations like MDK Medical's acquisition by MedAlliance's partner. This partnership aims to conduct Japanese clinical studies for a new sirolimus drug-eluting balloon (DEB) Solution SLR, enhancing treatment options for peripheral artery disease. Additionally, product approvals, such as Biosensors International Group, Ltd.'s US FDA approval for BioFreedom and Japanese PMDA approval for BioFreedom Ultra, are expected to drive market growth by expanding the availability of advanced products. Overall, these factors position the Asia-Pacific region as a significant player in the coronary stent market.

Coronary Stents Market Competitive Landscape:

The analyzed market exhibits a high degree of fragmentation, primarily attributable to the presence of numerous players operating on both a global and regional scale. The competitive landscape is characterized by a diverse array of companies, each contributing to the overall market dynamics. This fragmentation arises from the existence of specialized solution providers, established industry players, and emerging entrants, all vying for market share. The diversity in market participants is underscored by the adoption of various strategies aimed at expanding the company presence. On a global scale, companies within the studied market are strategically positioning themselves through aggressive expansion initiatives. This often involves entering new geographical regions, targeting untapped markets, and establishing a robust global footprint. The pursuit of global expansion is driven by the recognition of diverse market opportunities and the desire to capitalize on emerging trends and demands across different regions. Simultaneously, at the regional level, companies are tailoring their approaches to align with local market dynamics. Regional players are leveraging their understanding of specific market nuances, regulatory environments, and consumer preferences to gain a competitive edge. This regional focus allows companies to cater to the unique needs of local clientele, fostering stronger market penetration. To navigate the complexities of the fragmented market, companies are implementing a range of strategies. These strategies include investments in research and development to stay at the forefront of technological advancements, mergers and acquisitions to consolidate market share, strategic partnerships for synergies, and innovation to differentiate products and services. The adoption of such multifaceted strategies reflects the competitive nature of the market, with participants continually seeking avenues for growth and sustainability. In essence, the high fragmentation in the studied market not only signifies the diversity of players but also underscores the dynamism and competitiveness that drive ongoing strategic maneuvers. As companies explore various avenues for expansion, the market continues to evolve, presenting both challenges and opportunities for industry stakeholders.

Some of the prominent players in the global coronary stents market include:

• Abbott
• Medtronic
• Boston Scientific Corporation
• Terumo Corporation
• B Braun Melsungen AG
• Biotronik
• Stentys SA
• MicroPort Scientific Corporation
• C. R. Bard, Inc.
• Cook Medical

Recent Development:

1) In October 2023, Indian medical devices manufacturer Meril sparked national discussion on cardiac stents and their pricing by introducing its domestically produced bioabsorbable stent. This development is poised to significantly impact the cardiac stent market by driving growth in several ways. Firstly, the introduction of a locally made bioabsorbable stent is likely to enhance access to advanced cardiac care in India. By offering a more affordable alternative to imported stents, Meril's product could make life-saving treatments more accessible to a larger segment of the population. Secondly, Meril's innovation has the potential to stimulate competition in the Indian cardiac stent market. The presence of a domestic player offering a bioabsorbable stent may encourage other manufacturers to develop similar products, leading to further advancements and price competitiveness in the market.

2) In August 2022, Medtronic unveiled the Onyx Frontier drug-eluting stent (DES), showcasing advanced delivery management and enhanced performance, especially in complex cases. This launch is poised to propel growth in the cardiac stent market for several reasons. Firstly, the introduction of the Onyx Frontier DES addresses the growing demand for innovative stent technologies that can effectively treat challenging cardiac conditions. Its advanced delivery management system allows for precise placement, improving outcomes in complex cases and expanding the potential patient population that can benefit from stent therapy. Secondly, Medtronic's launch of the Onyx Frontier DES is expected to stimulate competition in the cardiac stent market. The introduction of a new, high-performance stent from a renowned manufacturer like Medtronic may prompt other companies to enhance their product offerings, leading to further advancements in stent technology and improved patient care. Thus, Medtronic's introduction of the Onyx Frontier DES is expected to drive growth in the cardiac stent market by addressing unmet clinical needs, stimulating competition, and advancing the field of cardiovascular care through innovation.

Frequently Asked Questions (FAQ) :

Q1. What was the Coronary Stents Market size in 2023?

Q2. At what CAGR is the Coronary Stents market projected to grow within the forecast period?

Q3. What are the factors driving the Coronary Stents market?

Q4. Which region has the largest share of the Coronary Stents market? What are the largest region's market size and growth rate?