Coronary Stents Market Report 2024

The coronary stents market size has grown strongly in recent years. It will grow from $10.22 billion in 2023 to $11.06 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth during the historic period can be attributed to a growing preference for minimally invasive procedures, the expansion of healthcare access in emerging markets, rising healthcare expenditure, an increase in percutaneous coronary interventions, and a growing number of cardiologists.

The coronary stents market size is expected to see strong growth in the next few years. It will grow to $15.25 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to the increasing incidence of cardiovascular diseases, an aging population, rising awareness about cardiovascular health, supportive government programs and funding, and a growing prevalence of lifestyle diseases. Major trends expected during this period include innovations in stent technology, advancements in imaging technologies, strategic collaborations and partnerships, developments in stent materials, and technological integration with digital health.

The growing prevalence of cardiovascular diseases (CVDs) is anticipated to drive the expansion of the coronary stent market. CVDs encompass a range of heart and blood vessel disorders, including coronary artery disease, heart failure, stroke, and hypertension. The rise in cardiovascular diseases is attributed to factors such as an aging population, increased rates of risk factors such as obesity, diabetes, sedentary lifestyles, poor diet, and stress. Coronary stents are crucial in treating CVDs as they help open narrowed or blocked coronary arteries, improving blood flow to the heart and reducing the risk of heart attacks. For example, a report from the American College of Cardiology in August 2022 projected significant increases in cardiovascular risk factors in the U.S. from 2025 to 2060. It predicted a 39.3% increase in diabetes cases to 55 million, a 27.6% rise in dyslipidemia to 126 million, a 25.1% increase in hypertension to 162 million, and an 18.3% rise in obesity to 126 million. The most notable increases are expected in stroke (33.8% rise to 15 million) and heart failure (33.4% rise to 13 million), with ischemic heart disease and heart attacks also showing substantial growth. This rising prevalence of CVDs is driving the demand for coronary stents.

Companies in the coronary stent market are focusing on developing advanced products such as drug-eluting stents to minimize the need for repeat procedures compared to traditional bare-metal stents. Drug-eluting stents are specialized devices coated with medication that gradually releases drugs to prevent the re-narrowing of arteries. For instance, in May 2024, Abbott, a US-based healthcare company, introduced the XIENCE Sierra Everolimus Eluting Coronary Stent System in India. This stent features an enhanced design, a new delivery system, and unique size options tailored for complex cases. It maintains a specialized coating to reduce the risk of artery re-blockage, consistent with other XIENCE stents, and boasts a strong safety record supported by over 120 clinical trials involving more than 120,000 patients.

In October 2022, Cordis, a US-based developer of cardiovascular and endovascular devices, acquired MedAlliance for an undisclosed amount. This acquisition will enable Cordis to reach two million patients globally by 2027 with the SELUTION SLR (Sustained Limus Release) drug-eluting balloon. Cordis will also co-promote MedAlliance’s SELUTION SLR drug-eluting balloon in existing markets. MedAlliance is a Switzerland-based manufacturer of coronary stents.

Major companies operating in the coronary stents market are Abbott Laboratories, Medtronic Plc, Biosensors International Group Ltd., Boston Scientific Corporation, B. Braun Melsungen AG, Terumo Corporation, W. L. Gore & Associates Inc., Cook Medical Inc., BIOTRONIK SE & Co. KG, Lepu Medical Technology (Beijing) Co. Ltd., Meril Life Sciences Pvt. Ltd, MicroPort Scientific Corporation, OrbusNeich, Asahi Intecc Co. Ltd., Sahajanand Medical Technologies Limited, Translumina GmbH, Stentys S.A., Sorin Group, InspireMD Inc., C. R. Bard Inc., AMG International GmbH, Svelte Medical Systems Inc., Zorion Medical Inc., Spectranetics Corporation.

North America was the largest region in the coronary stents market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the coronary stents market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the coronary stents market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Coronary stents are small, expandable tubes used to open narrowed or blocked coronary arteries, which supply blood to the heart muscle. Typically constructed from metal mesh, these devices are inserted during a procedure known as percutaneous coronary intervention (PCI) or angioplasty. The stent is delivered via a balloon catheter and expanded at the blockage site to restore proper blood flow.

The main types of coronary stents include dual therapy stents, radioactive stents, thrombectomy stents, covered stents, bioresorbable stents, biodegradable stents, hybrid stents, drug-eluting stents, and bare metal stents. Dual therapy stents integrate drug-eluting and bioresorbable technologies to offer both medication release and gradual absorption of the stent structure. Various technologies used in their manufacture include laser cutting, 3D printing, microfabrication, nanotechnology, and electropolishing. Materials used in stent production can include cobalt-chromium, stainless steel, platinum-chromium, and nickel-titanium. Stents can be self-expandable or balloon-expandable and are utilized by hospitals, ambulatory surgical centers, specialty clinics, and other healthcare facilities.

The coronary stents market research report is one of a series of new reports that provides coronary stents market statistics, including coronary stents industry global market size, regional shares, competitors with a coronary stents market share, detailed coronary stents market segments, market trends and opportunities, and any further data you may need to thrive in the coronary stents industry. This coronary stents market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The coronary stent market consists of revenues earned by entities by providing services such as product training and education, technical support, clinical support, research and development, customized solutions. The market value includes the value of related goods sold by the service provider or included within the service offering. The coronary stent market also includes sales of covered stents, balloon catheters, guidewires, embolic protection devices and imaging systems. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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