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Coronary Stents Market - By Product (Bare Metal Stents, Drug Eluting Stents, Bioresorbable Vascular Scaffold), By End-use (Hospitals, Cardiac Centers, Ambulatory Surgical Centers) & Global Forecast, 2023-2032
- Report ID: GMI2966
- Published Date: Feb 2023
- Report Format: PDF
Coronary Stents Market Size
Coronary Stents Market size was valued at more than USD 5.7 billion in 2022 and is forecasted to observe over 4.5% CAGR from 2023 to 2032. Growing cases of coronary artery diseases across the globe to fuel market development.
Increasing cases of coronary artery disease have generated greater demand for percutaneous coronary intervention, thereby accelerating the adoption of coronary stents. As per the Centers for Disease and Prevention (CDC), in 2020, nearly 697,000 people died from heart disease across the United States. Each year, the country witnesses more than 795,000 people getting a stroke.
Rising elderly population in developing economies is another major factor responsible for the growing prevalence of cardiovascular disease (CVD). The geriatric population is often prone to various chronic illnesses such as peripheral vascular disease (PVD). These patients mostly prefer minimally surgical procedures like percutaneous coronary intervention (PCI) to treat related disorders which will increase the demand for coronary stents.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Coronary Stents Market Size in 2022: | USD 5.7 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 4.5% |
| 2032 Value Projection: | USD 9.3 Billion |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 170 |
| Tables, Charts & Figures: | 270 |
| Segments covered: | Product, End-use and Region |
| Growth Drivers: | |
| Pitfalls & Challenges: |
Lack of skilled workers in the healthcare sector will hamper the coronary stents market expansion. Numerous nations worldwide struggle to meet the demand for medical professionals including nurses and doctors. For instance, according to a new survey, the United States will need about 2.3 million skilled healthcare professionals by the end of 2025 to deal with the growing incidence of cardiovascular ailments and the aging population.
Coronary Stents Market Analysis
Coronary stents market share from the drug-eluting stent (DES) segment was valued at nearly USD 4.9 billion in 2022. The high growth rate is a result of the benefits of drug-eluting stents, which include better treatment results and a decreased re-obstruction rate, among other things. DES is employed in a variety of applications, including myocardial infarction and percutaneous coronary intervention. The addition of new and advanced drug-eluting stents is expected to fuel product demand.
Coronary stents market from the cardiac centers end-use segment is expected to witness a 5.1% CAGR between 2023 and 2032. The specialized cardiac centers reach a large patient population and are equipped with cutting-edge technologies and treatment alternatives. Efforts to improve patient care and well-being will boost product deployment across these centers. Patients that need long-term care and treatment tend to prefer cardiac centers as they have multiple treatment options and are equipped with advanced medical equipment.
Asia Pacific coronary stents market is expected to record a 6.2% CAGR during 2023 and 2032 due to the growing geriatric population in the region. The increase in the incidence rate of cardiovascular diseases, particularly coronary heart disease, is forecasted to influence market growth. For instance, the Technical Group on Population Projections for India and States 2011–2036 report estimates that there would be about 138 million elderly people in India by 2021 (67 million men and 71 million women), with an additional 56 million seniors predicted by 2031.
Coronary Stents Market Share
- B. Braun Melsungen AG
- Terumo Corporation Biosensors International Group
- Biotronik SE & Co. KG
- Elixir Medical Corporation
- Boston Scientific Corporation
- Abbott Laboratories
- Medtronic Plc
- MicroPort Scientific Corporation
- Meril Life Science
are some of the key players in the global coronary stents market. Companies are looking to attain product approvals by federal health agencies to boost sales worldwide.
Impact of the COVID-19 pandemic
The COVID-19 pandemic had a negative impact on coronary stents industry. To enhance capacity for patients diagnosed during outbreak, several hospitals and clinics, especially cardiac centers, underwent restructuring which led to averting of treatment for other health issues. A dip in non-essential surgical procedures as well as a drop-in patient care further influenced the demand for coronary stents. However, lifting of lockdown restrictions and a reduction of COVID-19 cases will reinforce the demand for these stents in the ensuing years.
The coronary stents market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032, for the following segments: Click here to Buy Section of this Report
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
- Poland
- Switzerland
- Netherland
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Indonesia
- Thailand
- Vietnam
- Latin America
- Brazil
- Mexico
- Argentina
- Chile
- Colombia
- Peru
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Egypt
- Israel
Frequently Asked Questions (FAQ) :
Coronary Stents Market Scope
