Global Coronary Stents Market - Focused Insights 2024-2029

CORONARY STENTS MARKET SIZE, GROWTH INSIGHTS

As of 2023, the global coronary stents market is valued at USD 8.57 billion and is projected to grow to USD 12.93 billion by 2029, exhibiting a CAGR of 7.10% during this period. This growth can be primarily attributed to a rising patient population suffering from cardiovascular disorders (CVD) and chronic conditions like obesity and diabetes. In addition, the increasing demand for minimally invasive cardiovascular interventions and innovations in coronary stents are key factors driving market expansion. Coronary stents are mesh tube-like structures inserted into narrowed or blocked heart arteries to maintain open passageways that facilitate blood flow, a process known as angioplasty. These stents are predominantly used to treat coronary artery disease (CAD), which occurs when arteries supplying blood to the heart become obstructed. The growing incidence of CAD, particularly among the aging global population, contributes significantly to the demand for coronary stents.

CORONARY STENTS MARKET TRENDS & DRIVERS

Innovations in Coronary Stent Technology

Implantation of stents is among the most widely practiced treatments for coronary artery disease. Innovations are steadily emerging, ranging from traditional bare metal stents to advanced drug-eluting stents. Recently, bioresorbable and polymer-free stents have gained traction in the market. Options such as gene-eluting stents (GES) and customized coronary stents equipped with self-reporting sensors are now being explored. Innovations in 4D printing technology are paving the way for bespoke coronary stent sensors, while biodegradable polymer-coated stents and bioresorbable stents offer promising alternatives. The benefits of biodegradable polymer-coated stents include reduced risk of acute occlusion or recoil, minimized late vessel wall inflammation, and lower instances of neointimal hyperplasia.

Increasing Incidence of Cardiovascular Disorders

Cardiovascular diseases are escalating rapidly worldwide and continue to be one of the leading causes of death. In 2023, with a global population of around 8 billion, over 620 million individuals are afflicted by circulatory and heart diseases, many of whom are receiving medical services. Coronary artery diseases are critical conditions requiring extensive care. Stroke is also emerging as a major health issue in developing nations. Annually, over 60 million individuals globally are diagnosed with circulatory and heart ailments, with about 1 in 13 people currently living with these issues, resulting in a significant mortality burden of approximately 20 million deaths in 2021. By 2024, an estimated 244 million individuals are expected to be affected by CAD, with 6 million patients undergoing various coronary interventions each year.

INDUSTRY RESTRAINTS

Challenges and Complications Related to Coronary Stents

A significant barrier for patients with cardiovascular diseases is the cost associated with long-term treatment and care. Coronary stent implantation is particularly expensive in developing regions. In addition, post-procedural complications arising from stent placement can lead to further financial burdens. Coronary stents are composed of different metals, and bare metal stents can sometimes provoke adverse reactions. For instance, the body's cells may grow over the inner artery wall and around the metal, creating a scab-like formation that can lead to restenosis, causing potential chest pain or heart attacks. Other post-implantation complications may include coronary artery damage, kidney injuries, strokes, and irregular heartbeats. Pain and discomfort following stenting procedures are also frequently reported, particularly among individuals who have previously undergone surgeries for blocked arteries or those with chronic conditions such as diabetes, kidney disease, or heart failure.

GLOBAL CORONARY STENTS MARKET INSIGHTS

• By Product: The global coronary stents market is categorized by product type into drug-eluting stents (DES), bare metal stents, and bioresorbable stents. As of 2023, the second-generation DES segment holds the largest market share. These advanced stents are coated with medication that is gradually released to prevent blood clots and tissue growth on the stents, which significantly reduces the risk of restenosis, especially common in heart attack patients. Second-generation DES are designed to improve the safety and long-term effectiveness for those undergoing percutaneous coronary interventions (PCI). Research and reports from the American Heart Association underscore the superior clinical outcomes associated with these stents, including reduced risks of stent thrombosis, restenosis, and myocardial infarction, ultimately improving patient survival rates. In addition, their biocompatibility results in a lower inflammatory response, and they also create less turbulence, reducing thrombogenicity.
• By Design: The coronary stents market is also segmented by design into permanent and fully degradable stents. The permanent design segment is experiencing notable growth, showcasing the highest CAGR during the forecast period. Permanent stents allow for consistent function and promote better blood flow, which contributes to this growth. These metallic stents and their polymer coatings become permanent fixtures in the coronary artery, effectively minimizing the risk of re-narrowing. The advancements in materials and increased effectiveness of permanent design stents make them more in demand compared to their fully degradable counterparts. These non-degradable stents are produced from various metal alloys, including stainless steel, cobalt-chromium, and platinum-chromium.
• By End-User: Multi-specialty hospitals represent the largest segment in the global coronary stents market. This segment is expanding at a significant pace and is expected to continue during the forecast period, as these hospitals are the primary revenue generators in the coronary stent market. They provide diverse medical services and specialties, capable of addressing several heart health issues. Equipped with advanced healthcare infrastructure, multi-specialty hospitals perform complex surgeries and employ skilled cardiac surgeons, utilizing cutting-edge technology such as robotic and video-assisted platforms to ensure high-quality patient care.

GEOGRAPHICAL ANALYSIS

North America leads the global coronary stents market, driven by the high incidence of percutaneous coronary interventions and a substantial population needing CVD management. The US particularly stands out due to its significant healthcare expenditures aimed at treating coronary artery diseases and other related conditions like diabetes. Market growth is fueled by an aging population, increased numbers of chronic disease patients, heightened awareness about heart health, and considerable healthcare investments, alongside rapid advancements in healthcare facilities. In APAC, significant growth is observed, with the fastest-growing CAGR expected during the forecast period. China is a major contributor in this region, owing to its large elderly population and high burden of cardiovascular diseases. The rapid growth in this area can be attributed to the aging demographic and the associated increase in CVD risk factors, as well as multiple chronic diseases.

COMPETITIVE LANDSCAPE

The global coronary stents market analysis reveals data on 24 key vendors, indicating a highly fragmented market structure. While major corporations lead the industry, there are ample opportunities for new entrants. Numerous innovative firms and smaller companies are emerging with cutting-edge products and technologies, including bioresorbable coronary stents. Leading companies in the global coronary stents market include Abbott, Boston Scientific, Medtronic, Biotronik, Terumo Corporation, and B. Braun SE. These firms are consistently investing in the development of coronary stents and are poised to remain at the forefront of advancements in this field.

RECENT VENDOR ACTIVITIES

In 2023, Abbott expanded its portfolio by acquiring Cardiovascular Systems, a medical device firm known for its innovative atherectomy system designed for treating coronary and peripheral artery disease.

In 2022, MicroPort established its new headquarters in Irvine, which features a manufacturing facility and an innovation center.

In April 2022, Biosensor International Group secured approval from the Japanese PMDA for its BioFreedom Ultra, and US FDA approval for BioFreedom coronary stents.