Market Size of Coronary Stent Industry
Study Period | 2019 - 2029 |
Market Size (2024) | USD 7.41 Billion |
Market Size (2029) | USD 9.13 Billion |
CAGR (2024 - 2029) | 4.25 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Coronary Stent Market Analysis
The Coronary Stent Market size is estimated at USD 7.41 billion in 2024, and is expected to reach USD 9.13 billion by 2029, at a CAGR of 4.25% during the forecast period (2024-2029).
The coronary stent market is undergoing substantial growth, driven by several converging trends in the global healthcare landscape. The rising prevalence of cardiovascular diseases, combined with an aging global population and rapid advancements in cardiac stent technology, is fueling the demand for coronary stents. These factors are cultivating a conducive environment for market expansion, with specific drivers playing essential roles in shaping the industry's path forward.
Increasing Prevalence of Coronary Artery Diseases (CADs): The growing incidence of coronary artery diseases is a central factor in the expansion of the coronary stent market. As per the Centers for Disease Control and Prevention, approximately 20.1 million adults aged 20 and older in the U.S. suffer from coronary artery disease, accounting for 7.2% of the population. Globally, the World Heart Federation estimates that cardiovascular diseases, including heart disease and stroke, cause nearly 18.6 million deaths annually. This rising burden of CADs is translating directly into a greater demand for interventional cardiology devices like coronary stents, which are vital in addressing blocked or narrowed arteries.
Rising Geriatric Population: The global shift towards an aging population is also significantly influencing the coronary stent market. According to the United Nations' World Population Ageing report, the global geriatric population (aged 65 years or older) is projected to reach 1.5 billion by 2050, constituting 16% of the world’s population. As older individuals are more prone to cardiovascular diseases, this demographic shift is expected to boost demand for coronary artery disease treatments. In the Asia-Pacific region, one-fourth of the population is expected to be 60 years or older by 2050, amplifying the demand for coronary stent market growth in this region.
Technological Advancements in Coronary Stents: The evolution of cardiac stent technology is playing a pivotal role in market growth. Recent innovations, such as bioresorbable stents and advanced drug-eluting stents (DES), are driving better patient outcomes. Medtronic’s FDA-approved Onyx Frontier DES and SINOMED's HT Supreme DES highlight the ongoing strides in stent delivery and post-procedural safety. These advances not only improve the efficacy of coronary stents but also widen their applicability, including in more complex coronary interventions.
Coronary Stent Industry Segmentation
As per the report's scope, coronary stents are small elastic tubes used to treat narrowed and blocked coronary arteries in patients with coronary artery disease (CAD). The stent reduces the symptoms of chest pain (angina) and aids in treating a heart attack. These types of stents are also called heart stents or cardiac stents. They comprise metal mesh and are implanted in constricted coronary arteries during a technique known as percutaneous coronary intervention (PCI) or angioplasty.
The Coronary Stent Market is Segmented by product type, biomaterial, end-users, and geography. By product type, the market is segmented into drug-eluting stents, bare metal coronary stents, and bioabsorbable stents. By biomaterial, the market is segmented into metallic biomaterial, polymeric biomaterial, and natural biomaterial. By end-users, the market is segmented into hospitals and ambulatory surgical centers. By geography, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and South America. The report also covers the estimated market sizes and trends for 17 countries across major global regions. The report offers the value (USD) for the above segments.
By Product Type | |
Drug Eluting Stent | |
Bare Metal Coronary Stent | |
Bioabsorbable Stent |
By Biomaterial | |
Metallic Biomaterial | |
Polymeric Biomaterial | |
Natural Biomaterial |
By End User | |
Hospitals | |
Ambulatory Surgical Centers |
Geography | ||||||||
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Coronary Stent Market Size Summary
The coronary stent market is poised for growth, driven by the increasing incidence of coronary artery diseases and the rising demand for percutaneous coronary intervention treatments. The market is recovering from the disruptions caused by the COVID-19 pandemic, which had led to a significant reduction in cardiac surgeries and delayed diagnoses. As the pandemic's impact wanes, there has been a resurgence in heart surgeries, boosting the adoption of coronary stents. The introduction of advanced products and technologies, such as biodegradable stents and drug-eluting systems, is further propelling market expansion. The growing geriatric population, particularly in regions like Asia-Pacific, coupled with the prevalence of risk factors such as diabetes and hypertension, is expected to drive demand for stents in the coming years.
The market landscape is characterized by moderate fragmentation, with several key players like Abbott Laboratories, Medtronic Plc, and Boston Scientific Corporation actively engaging in product development and technological advancements. The launch of new drug-eluting stents and regulatory approvals are anticipated to enhance market growth, particularly in regions with high cardiovascular disease prevalence, such as China, India, and Japan. Despite the promising growth prospects, challenges such as stringent regulatory processes and product recalls may pose constraints. Nonetheless, the ongoing innovation and increasing availability of advanced stent technologies are expected to sustain the market's upward trajectory throughout the forecast period.
Coronary Stent Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Prevalence of Coronary Artery Diseases (CADs)
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1.2.2 Rising Geriatric Population
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1.2.3 Technological Advancements in Coronary Stents
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1.3 Market Restraints
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1.3.1 High Product Recalls
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1.3.2 Stringent Approval Process for Stents
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - in USD)
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2.1 By Product Type
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2.1.1 Drug Eluting Stent
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2.1.2 Bare Metal Coronary Stent
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2.1.3 Bioabsorbable Stent
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2.2 By Biomaterial
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2.2.1 Metallic Biomaterial
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2.2.2 Polymeric Biomaterial
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2.2.3 Natural Biomaterial
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2.3 By End User
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2.3.1 Hospitals
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2.3.2 Ambulatory Surgical Centers
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Mexico
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 France
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2.4.2.4 Italy
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2.4.2.5 Spain
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2.4.2.6 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 Australia
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2.4.3.5 South Korea
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2.4.3.6 Rest of Asia-Pacific
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2.4.4 Middle East and Africa
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2.4.4.1 GCC
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2.4.4.2 South Africa
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2.4.4.3 Rest of Middle East and Africa
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2.4.5 South America
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2.4.5.1 Brazil
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2.4.5.2 Argentina
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2.4.5.3 Rest of South America
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Coronary Stent Market Size FAQs
How big is the Coronary Stent Market?
The Coronary Stent Market size is expected to reach USD 7.41 billion in 2024 and grow at a CAGR of 4.25% to reach USD 9.13 billion by 2029.
What is the current Coronary Stent Market size?
In 2024, the Coronary Stent Market size is expected to reach USD 7.41 billion.