Coronary stent is a small expandable tube, which is used for the treatment of narrowed or blocked coronary arteries and reduce chest pain (angina). Patients with coronary artery disease (CAD) are treated using these stents. These stents are also known as cardiac stents and comprise metallic mesh. These coronary stents are implanted in narrowed coronary artery during percutaneous coronary intervention (PCI).
The factor that drives growth of coronary stents market include increase in incidence of CAD, rise in innovation in coronary stents, and surge in improved clinical outcomes, due to stenting.
In addition, rise in incidence of chronic & lifestyle diseases, especially diabetes and obesity and improved insurance & reimbursement scenario supplement the global coronary stents market growth.
Conversely, availability of alternative methods for coronary heart disease treatment and high cost of treatment associated with coronary stents hinder the growth of the market during forecast years. However, increase in adoption of coronary stents in developing countries is expected to offer lucrative growth opportunities for the market during the forecast period.
The global coronary stents market is segmented on the basis of product, biomaterial, end user, and region. Depending on product, it is classified into drug-eluting stent, bare-metal stent, and bioabsorbable vascular stent. On the basis of biomaterial, it is categorized into metallic, polymeric, and natural biomaterial. According to end user, it is divided into hospitals, ambulatory surgical centers, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key market players profiled in the report include Abbott Laboratories, B. Braun Melsungen AG, Boston Scientific Corporation, Becton Dickinson and Company, Microport Scientific Corporation, Terumo Corporation, Medtronic plc., Biotronik SE & Co. KG, Biosensors International Group, Ltd., and Elixir Medical Corporation.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the coronary stents market analysis from 2020 to 2030 to identify the prevailing coronary stents market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the coronary stents market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global coronary stents market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Drug-eluting Stents
- Bare-metal Coronary Stents
- Bioabsorbable Stents
By Biomaterial
- Metallic biomaterials
- Polymers biomaterials
- Natural biomaterials
By End User
- Hospitals
- Ambulatory Surgical Centers
- Other
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of LAMEA
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of LAMEA
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Abbott Laboratories
- B. Braun Melsungen AG
- Biotronik Se & Co. KG
- Boston Scientific Corporation
- Becton, Dickinson and Company
- Elixir Medical Corporation
- Medtronic PLC.
- Microport Scientific Corporation
- Biosensors International Group
- Terumo Corporation
What is the estimated value of the Global Coronary Stents Market?
What is the growth rate of the Global Coronary Stents Market?
What is the forecasted size of the Global Coronary Stents Market?
Who are the key companies in the Global Coronary Stents Market?
Report Attribute | Details |
---|---|
No. of Pages | 236 |
Published | March 2022 |
Forecast Period | 2020 - 2030 |
Estimated Market Value ( USD | $ 8814.9 million |
Forecasted Market Value ( USD | $ 15421.06 million |
Compound Annual Growth Rate | 5.8% |
Regions Covered | Global |
No. of Companies Mentioned | 10 |
Table of Contents
Executive Summary
The Coronary Stents Market Size was valued at $8.8 billion in 2020, and is estimated to reach $15.4 billion by 2030, growing at a CAGR of 6% from 2021 to 2030. Coronary stent, also known as heart stent or cardiac stent, is a small elastic tube used for the treatment of narrowed or blocked coronary arteries in patients with coronary artery disease (CAD). These stents reduce chest pain (angina) and aid in the treatment of cardiac arrest. Coronary stents comprise metal mesh and are implanted in constricted coronary arteries using a technique known as percutaneous coronary intervention (PCI) or angioplasty.The major factors that impact the growth of coronary stents market include increase in prevalence of CAD, rise in improved patient outcomes with stenting, and surge in new trends in field of coronary artery stents. In addition, increase in demand for coronary stents across developing countries and growth in awareness about availability of suitable insurance & reimbursement policies are expected to offer lucrative growth opportunities for the market during the forecast period. However, high cost of procedures associated with coronary stents and availability of alternate methods for the treatment of CAD hamper the market growth.
Coronavirus is a large family of viruses that causes diseases ranging from common cold to severe respiratory diseases. The COVID-19 outbreak negatively impacted growth of the global stents market. The implementation of lockdown delayed the PCI procedure up to six months thereby, having a minimal negative impact on the market.
The Coronary Stents Market Analysis on the basis of product, biomaterial, end user, and region. Depending on product, it is classified into drug-eluting stent, bare-metal stent, and bioabsorbable vascular stent. Drug-eluting stent segment dominated the global market in 2020, and is expected to remain dominant throughout the forecast period, owing to its significant property of preventing the growth of scar tissues (restenosis) in arterial wall after the procedure.
Depending on biomaterials, the market is classified into metallic, polymeric, and natural biomaterial. The metallic biomaterials segment dominated the global Coronary Stents Industry in 2020, and is anticipated to continue this trend during the Coronary Stents Market Forecast period. This is attributed to its cost-effectiveness and remarkable efficacy of vascular healing compared to other materials.
As per end user, the market is segregated into hospitals, ambulatory surgical centers, and others. The hospital segment dominated the global market in 2020, and is anticipated to continue this trend during the forecast period, owing to increase in prevalence of coronary artery diseases, initiatives taken by governments for development of medical infrastructure, rise in awareness about treatment & management of disease, and surge in sedentary life style.
According to Onkar Sumant, Manager, Healthcare, 'Increase in incidence of coronary artery diseases, rise in innovation in coronary stents, and surge in improved clinical outcomes, due to stenting, drive growth of the market. In addition, rise in incidence of chronic & lifestyle diseases, especially diabetes and obesity and improved insurance & reimbursement scenario, supplement the global coronary stents market growth.'
Key findings of the Study
- Depending on product, the drug-eluting stent held largest share in the global market in 2020.
- According to biomaterials, the metallic biomaterials held largest market share in 2020 and is expected to remain dominant throughout the forecast period.
- As per end user, the hospitals held largest market share in 2020 and is anticipated to continue this trend during the forecast period.
- Region wise, North America is expected to experience growth at the highest rate, registering a CAGR of 5.46% during the forecast period.
On the other hand, Asia-Pacific was the third-largest contributor in the market in 2020, and is expected to register the fastest CAGR during the forecast period, owing to increase in prevalence of coronary artery disease, rise in number of geriatric population, growth in health care expenditures, and increase in adoption of unhealthy lifestyle.
Companies Mentioned
- Abbott Laboratories
- B. Braun Melsungen AG
- Biotronik Se & Co. KG
- Boston Scientific Corporation
- Becton, Dickinson and Company
- Elixir Medical Corporation
- Medtronic PLC.
- Microport Scientific Corporation
- Biosensors International Group
- Terumo Corporation
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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