Coronary Stents Market Size By Product (Drug Eluting Stent, Bare Metal Stent, Bioresorbable Vascular Scaffold), By End-Use (Hospitals, Cardiac Centers, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 – 2025

Published Date: Nov 2019  |  Report ID: GMI2966  |  Authors: Sumant Ugalmugale, Rupali Swain

Report Format: PDF   |   Pages: 110   |   Base Year: 2018




Summary Table of Contents Industry Coverage Methodology

Industry trends

Coronary Stents Market size surpassed $5.5 billion in 2018 and is expected to achieve over 5.4% CAGR up to 2025.
 

Coronary Stents Market

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A coronary stent is a small, mesh-like metal tube that expands in the coronary arteries. The stent is used to open a blocked or narrowed blood vessel that supplies oxygenated blood to the heart. These stents are inserted into the clogged or narrowed artery and then expanded with the help of a balloon catheter to open coronary arteries and lower the chances of heart attack. As per the clinical guidelines, patients with more than 70% of the artery blockage are only eligible for coronary stents.
 

Coronary stents were used for percutaneous coronary intervention since the late 1980’s. Numerous upgradations have been incorporated to improve the treatment outcome after the introduction of first coronary stent. With introduction of drug eluting stents, the limitations of conventional bare metal stents were resolved. Companies are currently involved in numerous clinical trials to study the treatment outcome of novel stents that are bioresorbable. Also, changing government policies to reduce the prices of coronary stents to offer affordable treatment options to the patients will boost industry expansion.
 

Coronary Stents Market Report Coverage
Report Coverage Details
Base Year: 2018 Market Size in 2018: 5.5 Billion (USD)
Historical Data for: 2014 to 2018 Forecast Period: 2019 to 2025
Forecast Period 2019 to 2025 CAGR: 5.4% 2025 Value Projection: 8 Billion (USD)
Pages: 110 Tables, Charts & Figures: 123
Geographies covered (18): U.S., Canada, Germany, UK, France, Spain, Italy, China, Japan, India, Australia, Brazil, Mexico, South Africa, Saudi Arabia
Segments covered: Product, End-use and Region
Companies covered (10): Abbott, B. Braun Melsungen AG, Biosensors International Group, Ltd., Biotronik SE & Co. KG, Boston Scientific Corporation, Medtronic plc, Meril Life Sciences Pvt. Ltd., MicroPort Scientific Corporation, Terumo Corporation, Elixir Medical Corporation
Growth Drivers:
  • Rising burden of coronary artery disease in the U.S.
  • Increasing demand for minimally invasive procedures
  • Technological advancements in developed economies
  • Pricing control of coronary stents in Asia Pacific region
  • Rising geriatric population in developing economies
Pitfalls & Challenges:
  • Product failure and product recall
  • Stringent regulatory scenario in developed countries
  • Dearth of skilled healthcare professionals in developing economies

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Rising prevalence of coronary artery disease will boost coronary stents market share

Pervasiveness of coronary artery diseases (CAD) and rising demand for percutaneous coronary intervention (PCI) procedures will propel cardiovascular stents business growth. Major causes of CAD include adoption of unhealthy diet and sedentary lifestyle. For instance, between 1990 and 2016, the death rate due to cardiovascular disorders in India rose by 34%. Growing prevalence of CVD will lead to high adoption rate of coronary stents during PCI procedures. Also, with advancements in the treatment outcome of PCI procedures due to development of advanced stents, the market is estimated to show positive growth trajectory in the future.
 

However, product recall due to safety issues along with few post-surgery complications will limit the market growth. Also, dearth of skilled healthcare personnel and infrastructure in developing economies will further limit market growth.
 

Drug eluting stents are the most preferred coronary stents

U.S. Coronary Stents Market Statistics, By Product, 2018 (USD Million)
 U.S. Coronary Stents Market Statistics, By Product, 2018 (USD Million)

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Product segment of coronary stents market is bifurcated into drug eluting stents, bare metal stents and bioresorbable vascular scaffold. Drug eluting stents will dominate the overall market throughout the forecast timeframe. High rate of adoption is attributed to various advantages of drug eluting stents such as superior treatment outcomes and lower re-obstruction rate as compared to bare metal stents. Wide array of applications such as PCI and myocardial infarction will foster segment growth. Various leading players are investing extensively in R&D activities to develop technologically advanced DES, thus favoring business growth.
 

Availability of state-of-the-art infrastructure in hospitals will drive segment growth

End-use segment of coronary stents includes hospitals, cardiac centers and ambulatory surgical centers. Hospitals accounted for revenue of USD 2.3 billion in 2018. Rising pervasiveness of coronary artery disorders will significantly drive segmental growth. Also, rising demand for short hospital stays and availability of advanced infrastructure for the treatment of various cardiovascular disorders will spur segmental growth. Moreover, growing healthcare expenditure to offer high-quality patient care will further attract large portion of patient population in the hospitals.
 

Capping of coronary stent prices in India will positively influence the adoption rate

Asia Pacific Coronary Stents Market Share, By Country, 2025 (USD Million)
Asia Pacific Coronary Stents Market Share, By Country, 2025 (USD Million)

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Asia Pacific coronary stents business is expected to reach USD 4.9 billion by 2025. Major growth factors such as favorable government policies, price control, large patient population of coronary heart disease will propel adoption of coronary stents. For instance, in India, National Pharmaceutical Pricing Authority (NPPA) capped prices of both bare metal stents and drug eluting stents. This led to tremendous adoption of coronary stents by the patients due to the revised and affordable prices. This policy change will further encourage local manufacturers to develop novel products, thus fostering cardiovascular stents market growth.
 

North America coronary stents market accounted for revenue share of 21.3% in 2018. The major growth driving factors are favorable reimbursement policies along with launch of technologically advanced products. Majority of the companies are focusing on launch of next generation of coronary stents to meet the growing demand of the patient population. Furthermore, increasing demand of minimally invasive surgical procedures will further assist in driving the market growth.
 

Novel product approvals in Europe and the U.S. will drive market growth

Major companies in the coronary stents market include Abbott, Terumo, B Braun, Medtronic and Boston Scientific Corporation. New product launch, collaborations, acquisitions and mergers are few of the strategies adopted by these players to capture high revenue share in coronary stents industry.
 

Recent industry developments:

  • In May 2018, Abbott announced launch of a new generation Xience Sierra drug-eluting stent after approval from U.S. FDA. This new product launch enabled the company to expand its product portfolio in the treatment of coronary artery disease (CAD) and strengthen its market presence.
     
  • In May 2018, Terumo Corporation announced launch of its Ultimaster Tansei drug eluting stent (DES) in Europe. The product is capable of treating complex anatomies with femoral and radial access. The major aim of the company was to secure a leading position in the Europe drug eluting stent market space.
     

Coronary stents market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2014 to 2025, for the following segments:

By Product

  • Drug eluting stent
  • Bare metal stent
  • Bioresorbable Vascular Scaffold (BVS)

By End-use

  • Hospitals
  • Cardiac centers
  • Ambulatory surgical centers
  • Others

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • South Africa
    • Saudi Arabia

 

Frequently Asked Questions (FAQ) :

A coronary stent is a small, mesh-like metal tube that expands in the coronary arteries. The stent is used to open a blocked or narrowed blood vessel that supplies oxygenated blood to the heart.
Asia Pacific coronary stents market is expected to surpass USD 4.9 billion by 2025, according to a new report published by Global Market Insights, Inc.
The rising prevalence of coronary artery disease coupled with increasing trends for minimally invasive procedures will fuel the coronary stents industry demand globally.

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