Coronary Stent Market Size (2024 - 2029)

The coronary stent market is projected to experience growth over the forecast period, driven by an increasing demand for percutaneous coronary intervention treatments due to the rising incidence of coronary artery diseases. The market's expansion is supported by the recovery from COVID-19 impacts, advancements in stent technology, and the introduction of new products by key industry players. Additionally, the growing global geriatric population and the prevalence of cardiovascular diseases are expected to further propel market growth. However, challenges such as stringent regulatory processes and a high number of product recalls may restrain the market's development.

Market Size of Coronary Stent Industry

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Coronary Stent Market Summary
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

Coronary Stent Market 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, growing at a CAGR of 4.25% during the forecast period (2024-2029).

Due to the high infection rate and lockdown regulations brought on by the COVID-19 pandemic, surgical procedures have been affected. Additionally, patients with cardiovascular diseases have experienced delays in diagnosis and treatment as a result of fewer people visiting hospitals and diagnostic facilities, which has affected the coronary stent market. For instance, according to a March 2022 research study published in the National Library of Medicine, there was a 52.7% reduction in adult cardiac surgery volume and a 65.5% reduction in elective cases between February 2020 to January 2021, which indicates the negative impact of COVID-19 on the cardiac surgical procedures. However, as the COVID-19 cases subside, the market started to recover, leading to an increase in the number of surgeries. For instance, in December 2021, a press release published by the Albanian Daily News stated in the 8 months of 2021, the cases treated in cardiac surgery have increased by 11% compared to the same period in 2020, according to data from the monitoring report of the Ministry of Health. Thus, subsiding COVID-19 cases led to an increasing number of heart surgeries which increased the adoption of coronary stents. Similarly, various companies were engaged in new product development which also contributed to the market growth. For instance, in May 2021, amg International GmbH received European CE mark approval for its second fully biodegradable product, the UNITY-B balloon expandable biodegradable biliary stent (BEBS) for endoscopic use. Thus, owing to the product launches and approvals, the market for coronary stents is expected to witness growth as it would increase the availability of advanced products which are expected to increase the adoption and thus fuel the market growth.

The rising incidence of coronary artery diseases (CADs), which occur when there is a buildup of plaque in the artery created a demand for percutaneous coronary intervention treatments using stents which is the main driver anticipated to fuel expansion in the coronary stent market. For instance, according to a report released in February 2022 by the Heart and Stroke Foundation of Canada, 750,000 people in the country are living with heart failure, 100,000 people are diagnosed with the condition each year, and it is anticipated that by 2030, the healthcare costs related to heart failure in Canada will amount to up to USD 2.8 billion annually. Therefore, the market under study is anticipated to experience rapid expansion throughout the forecast period due to the large number of cardiac patients and the rising economic burden caused by heart failure in the nation. Additionally, it is projected that the increased prevalence of CAD risk factors, such as age, hypertension, diabetes, and others, will support the market's growth throughout the projection period.

Other factors that are projected to significantly impact the growth of the coronary stent market include the expanding older population around the world and the advancement of stent technology and materials. The senior population (defined as people 65 years of age and over) is more prone to various chronic diseases, such as cardiovascular diseases (CVDs), which require surgical intervention procedures to treat the disease since CVDs can lead to plaque buildup in the arteries and obstruct them. For instance, as per the November 2021 report published by the Asian Pacific Observatory on Health Systems and Policies, by 2050, about one-fourth population of the Asia-Pacific region will be 60 years or older due to the decreasing fertility rate in the region, and increasing longevity which is further expected to increase the burden of the cardiovascular diseases and thus creating demand for the effective and advanced treatment procedures that also includes stents implantation and lead market towards growth. Thus, the growing global geriatric population and CVDs are expected to increase the demand for stents in percutaneous coronary intervention procedures and propel the studied market toward growth.

Additionally, it is anticipated that the launch of new products and improvements in stent technology made by the region's leading market participants will accelerate the market's growth. For instance, Transluminal introduced the VIVO ISAR, its most recent dual drug polymer-free coated stent (DDCS), in several foreign regions, including Europe, in April 2022. Therefore, it is anticipated that such product introductions will accelerate market growth throughout the forecast period.

However, the high number of product recalls, and stringent regulatory approval processes for coronary stents are expected to restrain the growth of the studied market over the forecast period.

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 (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 also covers the estimated market sizes and trends for 17 countries across major global regions. The report offers the value (USD million) 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
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East and Africa
GCC
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America
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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.

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Coronary Stent Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Increasing Prevalence of Coronary Artery Diseases (CADs)

      2. 1.2.2 Rising Geriatric Population

      3. 1.2.3 Technological Advancements in Coronary Stents

    3. 1.3 Market Restraints

      1. 1.3.1 High Product Recalls

      2. 1.3.2 Stringent Approval Process for Stents

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION MARKET SEGMENTATION (Market Size by Value - by USD million)

    1. 2.1 By Product Type

      1. 2.1.1 Drug Eluting Stent

      2. 2.1.2 Bare Metal Coronary Stent

      3. 2.1.3 Bioabsorbable Stent

    2. 2.2 By Biomaterial

      1. 2.2.1 Metallic Biomaterial

      2. 2.2.2 Polymeric Biomaterial

      3. 2.2.3 Natural Biomaterial

    3. 2.3 By End User

      1. 2.3.1 Hospitals

      2. 2.3.2 Ambulatory Surgical Centers

    4. 2.4 Geography

      1. 2.4.1 North America

        1. 2.4.1.1 United States

        2. 2.4.1.2 Canada

        3. 2.4.1.3 Mexico

      2. 2.4.2 Europe

        1. 2.4.2.1 Germany

        2. 2.4.2.2 United Kingdom

        3. 2.4.2.3 France

        4. 2.4.2.4 Italy

        5. 2.4.2.5 Spain

        6. 2.4.2.6 Rest of Europe

      3. 2.4.3 Asia-Pacific

        1. 2.4.3.1 China

        2. 2.4.3.2 Japan

        3. 2.4.3.3 India

        4. 2.4.3.4 Australia

        5. 2.4.3.5 South Korea

        6. 2.4.3.6 Rest of Asia-Pacific

      4. 2.4.4 Middle East and Africa

        1. 2.4.4.1 GCC

        2. 2.4.4.2 South Africa

        3. 2.4.4.3 Rest of Middle East and Africa

      5. 2.4.5 South America

        1. 2.4.5.1 Brazil

        2. 2.4.5.2 Argentina

        3. 2.4.5.3 Rest of South America

Coronary Stent Market Size FAQs

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.

In 2024, the Coronary Stent Market size is expected to reach USD 7.41 billion.

Coronary Stents Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)