Newark, Sept. 11, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 9.48 billion in 2023 global coronary stent market will reach USD 13.75 billion in 2033. In recent years, the prevalence of coronary artery disease (CAD) has increased in middle- and low-income countries due to lifestyle changes. Key risk factors contributing to CAD include sedentary behaviour, high blood pressure, obesity, diabetes, and hypercholesterolemia. Despite a reduction in these risk factors over the past 15 years, complications such as in-stent restenosis remain a concern.
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While advancements in coronary stent technology have been gradual, recent innovations focus on improving stent deliverability and functionality. For example, the Xience Sierra stent features a thinner profile, enhanced flexibility, and is available in a range of diameters and lengths to accommodate more complex percutaneous coronary interventions (PCI). Coronary stents are categorized based on the materials used in their construction, including bare metal stents, bioabsorbable stents, and drug-eluting stents. These stents can be further divided into balloon-expandable and self-expanding types, depending on the deployment mechanism.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2024–2033 |
| Base Year | 2023 |
| Market Size in 2023 | $ 9.48 Billion |
| Market Size in 2033 | $ 13.75 Million |
| CAGR | 3.79% |
| No. of Pages in Report | 150 |
| Segments Covered | Stent Type, Mode of Delivery, End-User, Regions |
| Drivers | The increasing adoption of minimally invasive procedures |
| Opportunity | Technological advancements |
| Restraints | Complexity Related to Coronary Stents Might Hinder the Market |
Key Insight of the Global Coronery stent Market
North America will dominate the market during the forecast period.
The coronary stent market in North America is driven by high rates of obesity and cardiovascular diseases linked to lifestyle and dietary habits. Technological advancements, such as biodegradable materials and drug-eluting stents, further support market growth. The presence of major market players like Abbott, Boston Scientific, and Medtronic also contributes to the region's dominance in the market.
In 2023, the drug-eluting stent segment dominated the market with the largest market share of 25.67% and revenue of 2.43 billion.
The stent type segment is divided into covered stent, drug-eluting stent, bioresorbable stent, bare metal stent, and others. In 2023, the drug-eluting stent segment dominated the market with the largest market share of 25.67% and revenue of 2.43 billion.
In 2023, the self-expandable segment dominated the market with the largest market share of 55.55% and revenue of 5.26 billion.
The mode of delivery segment is divided into balloon expandable and self-expandable. In 2023, the self-expandable segment dominated the market with the largest market share of 55.55% and revenue of 5.26 billion.
In 2023, the hospitals segment dominated the market with the largest market share of 24.07% and revenue of 2.28 billion.
The end-user type segment is divided into specialty clinics, hospitals, ambulatory surgical centers, and others. In 2023, the hospitals segment dominated the market with the largest market share of 24.07% and revenue of 2.28 billion.
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Market Dynamics
Driver: Rising Adoption of Minimally Invasive Procedures.
Minimally invasive techniques such as PCI and coronary angioplasty/stenting are increasingly preferred over traditional invasive procedures like coronary artery bypass surgery (CABS). These methods offer benefits such as reduced scarring, less pain, minimal surgical trauma, shorter hospital stays, and quicker recovery times. As a result, there is a growing demand for related products such as balloons, stents, and catheters.
Restraints: Complexity of Coronary Stents.
The complexity involved in using coronary stents can limit market growth. Additionally, stringent regulatory requirements for product licensing can further slow the development of new stent technologies.
Opportunities: Technological Advancements.
The development of bioresorbable vascular scaffolds (BVS) presents significant growth opportunities for the coronary stent market. These innovations, along with advancements in stent materials and designs, are expected to drive market expansion. However, traditional treatment methods and strict product approval processes may also pose challenges to market growth.
Some of the major players operating in the global coronary stent market are:
• Terumo Corporation
• Stentys SA
• MicroPort Scientific Corporation
• Medtronic
• Cook Medical
• C. R. Bard, Inc.
• Boston Scientific Corporation
• Biotronik
• B Braun Melsungen AG
• Abbott
Key Segments covered in the market:
By Stent Type
• Bare Metal Stent
• Covered Stent
• Bioresorbable Stent
• Drug-Eluting Stent
• Others
By Mode of Delivery
• Balloon Expandable
• Self-Expandable
By End Use
• Specialty Clinics
• Hospitals
• Ambulatory Surgical Centers
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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