Coronary Stents Market Worth USD 15.6 Billion by 2030 at 6.3% CAGR - Report by Market Research Future (MRFR)
Market Research Future
7 min read
Market Research Future
Coronary Stents Market Trends and Insights by Products (Drug Eluting Stents, Bare Metal Stents, and Bioresorbable Vascular Scaffolds), By End-Users (Hospitals and clinics, ambulatory surgical center, specialty center, and others), Competitive Market Growth, Size, Share and Forecast to 2030
New York, USA, June 09, 2022 (GLOBE NEWSWIRE) -- Coronary Stents Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Coronary Stents MarketInformation by Products, End User, and Region - Forecast till 2030”, the market is accounted for 15.6 Billion by 2030 and expected to register a 6.3% CAGR during the forecast period (2022–2030).
Market Scope:
The most common cause of mortality is cardiovascular disease. PCI and coronary angioplasty/stenting are minimally invasive procedures since they do not require any significant incisions, unlike invasive procedures like coronary artery bypass surgery (CABS). The market is being driven by scientific breakthroughs in stenting methods, which have reduced manual errors during surgery. Coronary stents are tiny, expandable metal meshes inserted into the coronary arteries during percutaneous coronary intervention treatments. They aid in the control of blood flow to the heart. The market is being driven by technological advancements in stenting operations, which have resulted in a reduction in manual errors during surgery. This is projected to increase the number of cardiologists who use these products in developing and developed countries.
Over the projection period, the market is also predicted to grow due to improved reimbursement for percutaneous coronary intervention operations. Stents have been continuously improved, with the majority of the focus on minor tweaks like rendering stents more accessible in tortuous veins, lessening stent strut thickness, and releasing longer lengths or lower diameters of these stents. Stents have been proven to increase survivability by lowering adverse outcomes in acute myocardial infarction by reducing chest discomfort, also known as angina. Small incision wounds and improved patient satisfaction are among the benefits of these procedures. These procedures also result in shorter hospital stays and faster recovery times.
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By Products, End User, and Region
Geographies Covered
North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Market Drivers
Increasing government support for the device manufacturers.
Increase in binge eating habits, rising stress levels.
Coronary Stents Market Competitive Dynamics:
The promising contenders in the coronary stents market are:
Abbott
B. Braun Melsungen AG
Biotronik SE & Co. KG
Boston Scientific Corporation
C. R. Bard Inc.
Cook Medical
Elixir Medical Corporation
Medtronic plc
Merril Life Sciences
MicroPort Scientific Corporation
Stentys SA
Terumo Corporation
Market USP Covered:
Market Drivers:
An increase in binge eating patterns, sedentary lifestyles, and increased stress levels contribute to the rise in the occurrence of heart problems. Another factor projected to drive the utilization of coronary stents throughout the forecast period is the growing desire for minimally invasive surgeries (MIS). Small incision wounds and improved patient satisfaction are among the benefits of these procedures. These procedures also result in shorter hospital stays and faster recovery times. Furthermore, market growth has been aided by a spike in the volume of percutaneous coronary intervention (PCI) operations performed in recent years.
Due to the development of sophisticated DES and emerging bioresorbable scaffolds, stenting is becoming more popular than traditional balloon angioplasty. Technological advances in coronary stents, such as the invention of bifurcation stents and biodegradable materials, have resulted in more effective and better CVD treatment outcomes. Companies are actively interested in product creation, strategic alliances, and partnerships which will further drive the markets’ expansion.
Market Restraints:
Product malfunction and recall are two major roadblocks to market progress. Additionally, alternative CAD treatment options, strict product approval rules, and frequent product failure and recall incidences may stifle market expansion during the forecast period.
COVID-19 Analysis:
The market is expected to have a sharp drop-in growth rate due to uncertainties about the duration and effect of the COVID-19 pandemic. This is largely owing to the pandemic-related postponement of procedures. During the projection period, the drug-eluting stents segment is expected to lead. However, the market is expected to experience a fall due to the Covid 19 pandemic, reflecting the post-pandemic impacts over some time. During the first wave of the COVID-19 pandemic, cardiac surgery rates in the United States dropped by more than half, with the highest drops in the New England and mid-Atlantic regions.
Additional research into the early COVID-19 phases discovered that when hospitals' services were shuttered or severely limited and patients were hesitant to seek help, widespread cardiac consequences included missed ST-segment elevation myocardial infarctions (STEMIs), higher levels of cardiac arrest, and fewer diagnostic and elective procedures. Many of the world's largest medical device companies have headquarters and manufacturing facilities in separate countries, potentially causing supply chain issues.
The market for drug-eluting stents is predicted to account for the highest share. This substantial percentage is mostly due to the increased adoption of drug-eluting stents in angioplasty operations and improved patient compliance.
Based on End Users
Hospitals and clinics are likely to hold the greatest share in the worldwide coronary stents market. Simultaneously, the growing number of ambulatory surgery centers in both developed and emerging countries has caused this category to increase quickly over the forecast period.
North America was the dominant regional market for coronary stents, and this trend is expected to continue shortly. In North America, the market is primarily driven by sedentary lifestyles that result in obesity and other cardiovascular disorders such as stroke, heart attack, and ischemic heart disease (IHD). Because of the increasing adoption of sedentary lifestyles, growing binge eating habits, and a higher proportion of cigarette consumption in North America, the population has a higher risk of acquiring heart illnesses, which leads to a weakened immune system and increased stress levels. These factors play an important role in the natural course of heart illness.
In terms of revenue creation, Asia-Pacific is predicted to expand at the fastest rate of 5.8%. A large older population with cardiovascular disease, increasing PCI operations, expanding healthcare systems in developing economies, developing healthcare awareness, optimized reimbursement scenarios, and low production costs of coronary stents in this region are all driving the market.
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