Global Coronary Stents Market Share Likely to Grow at a CAGR of 3.3% By 2030
According to Custom Market Insights (CMI), The Global Coronary Stents Market is expected to grow at a compound annual growth rate of 3.3% during the forecast period from the year 2022 to the year 2030 and the market size was at U.S. dollar 8.8 billion in the year 2022 which is expected to reach USD 15.4 billion by the end of 2030.
The factors that have increased the demand for coronary stents across the developing, as well as the developed nations, are the increasing geriatric population and the associated cardiovascular diseases. Increased cases of obesity and diabetes due to sedentary lifestyles are also one of the reasons for the growing demand for coronary stents. And the market is also expected to grow further due to the availability of good infrastructure and insurance policies. Flexible reimbursement policies shall drive market growth in the coming year. Increased purchases in the healthcare sector shall drive market growth for coronary stents in the developing regions of the world.
Browse the full “Coronary Stents Market Size, Trends, and Insights By Product (Bare metal stents, bioresorbable vascular scaffold, Drug-eluting stents), By Deployment (Self-expandable, Balloon expandable), By End User (Hospitals and surgical centers, Specialty clinics, Others), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share Outlook, and Forecast 2022–2030” report at ReportURL
Growing cases of coronary artery disease and a better way to tackle it through the use of coronary stents shall drive the market growth in the coming years. Innovative products offered in the market by various market players due to constant research and development in the field have provided completely dis-solvable stents and the use of biodegradable stents that shall be instrumental in the growth of the market during the coming years.
The introduction of bioresorbable vascular scaffolds shall provide better opportunities for the growth of the coronary stents market in developing as well as developed nations. The benefits associated with the use of these scaffolds shall play an important role in the growth of the market and provide better opportunities in the coming years.
There are different alternatives available in the market that provide tough competition to the coronary stent procedure. These treatments are affordable and quite beneficial due to which the market for coronary stents shall be hampered.
The presence of stringent regulations laid down by the government for the approval of the product shall be another reason for restraining the market growth. These lengthy approval procedures have led to a large number of product recalls and this hampers the growth of the market in the long run. There are also been increased cases of product failure which shall be another reason for the hindered growth of the market.
Increasing demand for these procedures in the developing nations where the spending power of the consumers has increased shall serve to be the emerging markets in the coming years. The availability of advanced technologies in the market shall be instrumental for the growing demand for these procedures in developing as well as developed nations across the globe. Increased purchasing power and the availability of good infrastructure in the healthcare sector will increase the demand for these procedures in the coming years.
The increasing geriatric population and the increased number of cardiovascular diseases in this population shall drive market growth in the coming years. Growing demand for minimally invasive procedures and other benefits associated with the use of coronary stents shall be beneficial for the market growth.
In the procedure of using coronary stents for cardiovascular diseases and other issues of the heart, there are a lot of complications that a surgeon faces when it comes to the implantation of the stents. Sometimes there are a few side effects associated with the use of different stents due to which the market for coronary stents is negatively affected. Another challenge that the market faces is that the procedures are expensive.
The demand for drug-eluting stents will grow during the forecast period. Manufacturers in India and various nations are concentrating on providing novel drugs in this segment. Large-scale distribution of these products will lead to market growth in the coming years. The increasing geriatric population has also created a demand for bioresorbable stents.
The demand for the self-expandable stents shall be more in the coming years as they are more visible as compared to the other type. The deficiency of this type of deployment shall lead to market growth in the coming years.
The demand for coronary stents shall be maximum in the hospitals as a large number of surgeries are performed in the set-up. The availability of various facilities in the hospital and the partnership between the hospital and the companies shall be another reason for the growth of the hospital segment in the coming years. An increased number of cardiologists in the world shall be instrumental in the growth of the specialty clinics that shall provide such procedures.
The North American region is expected to dominate the market in the coming years. This region had a share of about 32% of the entire market in terms of revenue in the past. It shall continue to grow well in the coming years due to the increased cases of obesity and diabetes. As a larger population in the North American region leads a sedentary lifestyle, the market for coronary stents is expected to grow well for this region.
Increased cases of fatalities due to the increased cases of heart attack as well as stroke shall be other reasons for the growing demand. The availability of advanced technology in the healthcare facility of the United States and other nations of the North American region shall be instrumental for the growth of the market in the coming years.
The availability of dissolving stents and the increased use of these stents shall lead to the growth of the market. Awareness regarding the benefits associated with the use of these stents shall further drive market growth. The constant research and development activities have provided the market with materials that are biodegradable and the market is expected to grow well. Asia Pacific region will also grow well and generate good revenue.
The economic growth of the Asia Pacific region shall be one of the factors that shall drive the market growth. The favorable reimbursement policies in South Korea and Australia shall be instrumental in the growth of the market. In order to provide affordable services and procedures, the government is taking initiatives.
|Feature of the Report||Details|
|Market Size in 2021||USD 8.8 billion|
|Projected Market Size in 2030||USD 15.4 billion|
|CAGR Growth Rate||3.3% CAGR|
|Prominent Players||Medtronic plc, Cook Medical, B. Braun Melsungen AG, Terumo Corporation, Vascular Concepts, STENTYS SA, MicroPort Scientific Corporation, Meril Life Sciences Pvt. Ltd, Transluminal , Biosensors International Group Limited, Abbott, Boston Scientific Corporation, BIOTRONIK SE & Co. KG, and Others|
|Key Segment||By Product, By Deployment, End User, and Region|
|Report Coverage||Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends|
|Regional Scope||North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America|
|Buying Options||Request tailored purchasing options to fulfill your requirements for research.|
- Medtronic plc
- Cook Medical
- B. Braun Melsungen AG
- Terumo Corporation
- Vascular Concepts
- STENTYS SA
- MicroPort Scientific Corporation
- Merril Life Sciences Pvt. Ltd
- Biosensors International Group Limited
- Boston Scientific Corporation
- BIOTRONIK SE & Co. KG
- Abbott launched a coronary imaging platform in the year 2021, This platform makes use of artificial intelligence and it is launched in order to focus on the efficient detection of the blockages that are calcium based and it also calculates the diameter of the vessel when these procedures are performed.
Segments covered in the report
- Bare metal stents
- bioresorbable vascular scaffold
- Drug-eluting stents
- Balloon expandable
By End User
- Hospitals and surgical centers
- Specialty clinics
- The U.S.
- The UK
- Rest of Europe
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Rest of Latin America