Dublin, July 24, 2024 (GLOBE NEWSWIRE) -- The "Global Coronary Stents Market - Focused Insights 2024-2029" report has been added to ResearchAndMarkets.com's offering.
The Global Coronary Stents Market was valued at USD 8.57 billion in 2023, and is expected to reach USD 12.93 billion by 2029, rising at a CAGR of 7.10%.
Worldwide, one of the widely accepted forms of coronary artery disease (CAD) treatment is the implantation of stents into the vessel. Ranging from bare metal to drug-eluting stents, a more recent growing approach for bioresorbable and polymer-free stents is turning the market landscape. Furthermore, gene eluting stents (GES) and customized coronary stents with self-reporting stent sensors are becoming new alternatives to existing stent approaches.
Considering these new approaches, customized coronary stent sensors developed by novel 4D printing technologies are assumed to anticipate future advancement. Biodegradable polymer-coated stents, polymer-free stents (Drug-eluting), and bioresorbable stents are the newest approaches and have enormous potential to transform the market landscape. Biodegradable polymer-coated stents' potential benefits include improved acute occlusion or acute recoil prevention, late vessel wall inflammation evasion, and minimal neointimal hyperplasia.
Other Market Trends
- Development in the Fabrication of Coronary Stents
- Growing Burden of Cardiovascular Disorders
- Challenges & Complications Associated with Coronary Stents
INSIGHT BY PRODUCT
The second-generation DES segment dominates and will have the largest market share in 2023. Drug-eluting stents (DES) are advanced coronary stents coated with medication that slowly release over time and prevent blood clots and tissue development on stents. It reduces the risk of restenosis, which is prevalent in heart attacks. Second-generation DES coronary stents were developed to enhance the safety and long-term efficacy of PCI patients. Several studies and American Health Association reports demonstrated that second-generation DES has markedly improved clinical outcomes. It reduces the risk of stent thrombosis, restenosis, and myocardial infarction and enhances patients' survival rate, thus helping segmental growth. Also, this generation of stents is biocompatible, generating a less inflammatory response. Furthermore, these stents cause less turbulence and areas of low shear, decreasing thrombogenicity.
By Product Type
- Drug-eluting Stents (DES)
- Second Generation
- Latest Generation
- Bare Metal Stents
- Bioresorbable Stents
INSIGHT BY DESIGN
The permanent design segment shows significant growth, with the highest CAGR during the forecast period. The permanent design offers constant working and allows blood to flow more freely, helping the segment grow. Metallic coronary stents are permanent stents, and their associated polymer coating are permanent fixtures in the coronary artery where they are placed. Permanent coronary stenting is used to reduce the risk of re-narrowing the coronary artery. The advancement in material and increasing efficacy of permanent design coronary stents are the highest demand over fully-degradable coronary stent design. Permanent coronary stents are non-degradable devices developed using various metal alloys, such as stainless steel, cobalt chromium, platinum chromium, etc.
By Design
- Permanent
- Fully Degradable
INSIGHT BY END-USER
The multi-specialty hospital end-user segment holds the most significant global coronary stents market share. The market is growing at a healthy rate, and the trend will likely continue during the forecast period as they are the leading revenue generator for coronary stent markets. They offer a wide range of medical services & specialties and deliver the capability to treat several heart health conditions. Multi-specialty hospitals are well-equipped with sophisticated healthcare infrastructure and often perform highly complex surgeries. They employ skilled cardiac surgeons and have access to advanced equipment such as video-assisted, robotic-assisted platforms and hybrid operating rooms to provide high-quality patient care.
By End-user
- Multi-specialty Hospitals
- Specialty Hospitals
GEOGRAPHICAL ANALYSIS
North America dominates the largest share of the global coronary stents market. The U.S. dominates the region due to the high volume of percutaneous coronary interventions, the presence of a large pool of patient population requiring CVD management, and high healthcare expenditure regarding treating coronary artery diseases (CAD) and other diseases such as diabetes, which lead to severe impact of CVD. The market growth can be attributed to the rising aging population, a growing number of chronic disease patients, rising awareness regarding heart health, and increasing healthcare expenditure in the region, with rapid improvisation of healthcare facilities.
APAC shows significant growth, with the fastest-growing CAGR during the forecast period. China is the major revenue contributor in this region due to a large pool of elderly population and a relatively high burden of cardiovascular diseases compared to other countries in the APAC region. The key reason for such significant growth is the rising aging population and associated CVD burden and risks in the national population, as well as the presence of a large pool of patient population with various chronic diseases that lead to an increased burden of CVD. The APAC region accounts for around 60% of the global population and has a large proportion of the CVD patient population. Heart diseases and strokes are the leading cause of death and account for 35% of all deaths.
By Geography
- North America
- The U.S.
- Canada
- Europe
- Germany
- The U.K.
- France
- Italy
- Spain
- APAC
- Japan
- China
- India
- Australia
- South Korea
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- Turkey
- South Africa
- Saudi Arabia
COMPETITIVE LANDSCAPE
The global coronary stents market report contains exclusive data on 24 vendors. The global coronary stents market is highly fragmented. Large corporations dominate the market. However, there are significant growth opportunities for new entrants. Though the market is dominated by major players, many investigational and small companies are coming into existence with innovative products and technologies, such as bioresorbable coronary stents. Abbott, Boston Scientific, Medtronic, Biotronik, Terumo Corporation, and B. Braun SE are the leading global coronary stents market companies. These vendors are continuously developing and investing in coronary stent development and are expected to dominate the market with continued engagement in advanced coronary stent development.
Notable Vendor Activities
- In 2023, Abbott acquired Cardiovascular Systems, a medical device company that manufactures an advanced atherectomy system for treating coronary and peripheral artery disease.
- In 2023, Translumina, a global company in interventional cardiovascular medical devices, acquired Blue Medical Devices, a Wellinq Group Company. This acquisition supports and strengthens Translumina's drug-eluting stents portfolio.
- In 2022, MicroPort established its new headquarters in Irvine, which has facilities such as a manufacturing plant and innovation center.
- In April 2022, Biosensor International Group received Japanese PMDA approval for its BioFreedom Ultra and US FDA approval for BioFreedom coronary stents.
Notable Product Launches
- In December 2023, Terumo (India) launched a drug-eluting stent for the treatment of coronary artery disease, Ultimaster Nagomi.
- In Aug 2022, Medtronic launched a newly developed drug-eluting stent, Onyx Frontier coronary stent, with CE market approval.
Key Vendors
- Abbott
- Boston Scientific Corporation
- Medtronic
- Biotronik
- TerumoCorporation
- B.Braun SE
- Biosensors International Group
- MicroPort Scientific Corporation
Other Prominent Vendors
- Alvimedica
- Vascular Concepts
- Balton
- Cardionovum
- Cook Medical
- Concept Medical
- Relisys Medical Devices
- Elixir Medical
- Endocor GmBH
- OrbusNeich Medical Group
- Eurocor Tech
- HEXACATH
- InSitu Technologies
- Lepu Medical Technology
- Medinol
- Meril Life Sciences
- Q3 Medical Devices
- REVA Medical, LLC
- S3V Vascular Technologies
- Sahajanand Medical Technologies
- SCITECH
- Translumina
- USM Healthcare
- Minvasys
KEY QUESTIONS ANSWERED
1. How big is the global coronary stents market?
2. What is the growth rate of the global coronary stents market?
3. Who are the major players in the global coronary stents market?
4. Which region dominates the global coronary stents market?
5. What are the key drivers of the global coronary stents market?
Key Attributes
| Report Attribute | Details |
| No. of Pages | 144 |
| Forecast Period | 2023-2029 |
| Estimated Market Value (USD) in 2023 | $8.57 Billion |
| Forecasted Market Value (USD) by 2029 | $12.93 Billion |
| Compound Annual Growth Rate | 7.1% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/z49ehz
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