New York, USA, Dec. 28, 2022 (GLOBE NEWSWIRE) — Coronary Stents Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Coronary Stent Market Information by Products, End-User and Region – Forecast till 2030”, the market is expected to register a CAGR of 6.3% to reach USD 15.6 Billion by 2022-2030.
Small elastic tubes called coronary stents are used to relieve blocked and constricted coronary arteries in people with coronary artery disease (CAD). The stent aids in the treatment of a heart attack and lessens angina symptoms. These stents are also known as cardiac stents or heart stents. They are inserted into narrowed coronary arteries using the percutaneous coronary intervention (PCI) or angioplasty technique and are made of metal mesh.
The rising incidence of coronary artery diseases (CADs), which occur when there is a buildup of plaque in the artery and drive demand for percutaneous coronary intervention treatments using stents, is the main driver anticipated to fuel expansion in the coronary stent market. For instance, the prevalence of increased carotid intima-media thickness in people aged 30-79 years in 2020 was estimated to be 27.6%, translating to 1,066.70 million affected people and representing a change in percentage of 57.46% from 2000, according to the research study titled “Global and regional prevalence, burden, and risk factors for carotid atherosclerosis: a systematic review, meta-analysis, and modeling study” that was published in May 2020.
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|Market Size in 2030||USD 15.6 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Products and End-User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Market Drivers||Improved compensation for percutaneous coronary intervention procedures|
|healthcare manufacturing companies are developing technologically improved solutions to improve stent deliverability, safety and efficacy|
Coronary Stents Market Competitive Landscape:
The important participants in the coronary stent market include
- BIOTRONIK SE & Co. KG (Germany)
- Reva Medical Inc. (U.S.)
- MicroPort Scientific Corporation (China)
- B. Braun Melsungen AG (Germany)
- Transluminal GmbH (Germany)
- Biosensors International Group, Ltd. (Singapore)
- Terumo Corporation (Japan)
- Medtronic plc (Ireland)
- Boston Scientific Corporation (U.S.)
- Elixir Medical Corporation (U.S.)
- Merril Life Sciences Pvt. Ltd. (India)
- Vascular Concepts (India)
- Abbott Laboratories (U.S.)
- STENTS SA (France)
- Kyoto Medical Planning Co. Ltd. (Japan)
In an effort to broaden their worldwide reach, these market leaders are aggressively adopting strategic initiatives like partnerships, mergers, and acquisitions. To accommodate the rising demand, they also constantly introduce new products and win drug approvals.
Onyx Frontier drug-eluting stent (DES), a new interventional option for coronary artery disease (CAD) with a revised delivery mechanism, greater flexibility, and lower crossing profile, has been formally introduced by Medtronic. It’s described by the firm as “the most deliverable DES ever.”
With its improved deliverability, the new Onyx Frontier DES will continue to assist interventional cardiologists in treating difficult coronary situations and a wider spectrum of artery diameters more successfully.
Coronary Stents Market Dynamics:
Over the projected period, it is also anticipated that rising rates of CAD risk factors including advanced age, hypertension, diabetes, and others will support market expansion in the area under study. As a result, the market under study will expand in the years to come.
The rising worldwide elderly population as well as the development of stent technology and materials are additional variables that can have a substantial positive impact on the coronary stent market. The senior population (those who are 65 years of age or over) is more susceptible to a variety of chronic diseases, including cardiovascular diseases (CVDs), which require surgical intervention procedures for the disease as CVDs can cause plaque to build up in the arteries and so obstruct them. In other words, if the old population grows, coronary artery disease cases will increase, which will in turn encourage the demand for stents.
Furthermore, it is anticipated that the development of stent technology by the major market participants in the region and the introduction of new products will further accelerate growth in the research industry. As an illustration, in April 2022, Transluminal introduced the VIVO ISAR, its most recent dual drug polymer-free coated stent (DDCS), in a number of international countries, including Europe.
Coronary Stents Market Restraints:
Over the forecast period, the increasing number of product recalls and strict regulatory clearance procedures for coronary stents are anticipated to hinder the growth of the studied market.
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Coronary Stents Market COVID-19 Analysis
Due to the high infection rate and lockdown regulations brought on by the COVID-19 pandemic, surgical procedures have been affected. Additionally, patients with cardiovascular diseases have experienced delays in diagnosis and treatment as a result of fewer people visiting hospitals and diagnostic facilities, which has had an effect on the market for coronary stents. For example, a research study titled “The Effect of COVID-19 on Adult Cardiac Surgery in the United States in 717,103 Patients” that was published in March 2022 found that there was a 52.7% decrease in the volume of adult cardiac surgery and a 65.5% decrease in elective cases, which shows the negative impact of COVID-19 on the cardiac surgical procedures.
The long-term effects of COVID-19 on the human body may increase the prevalence of atherosclerosis and other cardiac diseases, which may have a positive effect on the growth of the studied market. However, a research study published in April 2021 titled “ACE2 is an Adjacent Element of Atherosclerosis and COVID-19 Pathogenesis” claimed that COVID-19 could increase the development of atherosclerosis due to ACE2, which is also a receptor for the SARS-CoV Additionally, the coronary stent market is anticipated to reach its full potential over the course of the forecast period as a result of declining COVID-19 instances and widespread immunisation campaigns around the world.
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Coronary Stents Market Segmentation
Drug-Eluting Stents, Bio Absorbable Stents as well as Bare-Metal Stents are the major types of coronary stents in the market. Balloon-Expandable Stents along with Self-Expanding Stents are the key modes of delivery.
Hospitals & Clinics are the top end-users of coronary stents worldwide.
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Coronary Stents Market Regional Insights
North America is the world’s largest market, and it is primarily driven by the rising number of patients with cardiovascular illness, growing demand for healthcare services, and rising numbers of geriatrics. Furthermore, the U.S. is the largest market in North America due to the existence of a sizable number of market participants who manufacture coronary stents and the growing awareness of risk factors for coronary sickness. Canada’s economy is predicted to grow at the fastest rate due to the generally growing need for therapeutic devices as coronary stent technology advances.
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