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The Coronary Stents Market to Reach $12.93 Billion by 2029, Strategic Acquisitions & New Product Launches Shape the Future of the Market - Arizton
Coronary Stents Market Research Report by Arizton
Curious to Learn More? Click: https://www.arizton.com/market-reports/coronary-stents-market-analysis-2024
Report Summary
Market Size (2029): $12.93 Billion
Market Size (2023): $8.57 Billion
CAGR (2023-2029): 7.10%
Historic Year: 2020-2022
Base Year: 2023
Forecast Year: 2024-2029
Market Segmentation: Product, Design, End-User and Geography
Geographical Analysis: North America, Europe, APAC, Latin America, and Middle East & Africa
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The global coronary stents market is characterized by intense competition and dynamism, with numerous national, regional, and global players. Strict and varied regulatory norms, pricing policies, and approval processes contribute to the competitive landscape. Market growth is driven by the increasing burden of cardiovascular diseases, a rising geriatric population with multiple chronic conditions, and heightened attention to coronary artery disease management through stenting and angioplasty. Continuous product development, launches, and approvals are revolutionizing the market, enhancing access to safe coronary stenting, and expected to sustain market growth in the future.
Market Trends & Drivers
Evolving Coronary Stent Technologies
Coronary stent implantation is a globally accepted treatment for coronary artery disease (CAD). The market is evolving from bare metal and drug-eluting stents to more advanced bioresorbable and polymer-free stents. Emerging alternatives such as gene eluting stents (GES) and customized stents with self-reporting sensors are also gaining traction. Customized coronary stent sensors developed through novel 4D printing technologies are expected to drive future advancements. New approaches, including biodegradable polymer-coated stents, polymer-free stents (drug-eluting), and bioresorbable stents, have significant potential to transform the market. The benefits of biodegradable polymer-coated stents include improved prevention of acute occlusion or recoil, avoidance of late vessel wall inflammation, and reduced neointimal hyperplasia.
Advances in Coronary Stent Fabrication
Traditional fabrication methods for coronary stents, such as laser cutting, are being enhanced with advanced technologies like augmented reality (AR), 3D printing, and deep learning (DL). Novel 4D digital printing technologies are enabling the production of coronary stents that are significantly smaller and more customized to patient needs. These technologies employ stimuli-responsive materials to create implants tailored to an individual's physiological and pathological conditions. Smart stents with biocompatible platforms, including small ultrasound transducers to measure blood flow, are also being explored. These advancements are expected to revolutionize the market by reducing inflammation, fibrous tissue formation, and material degradation.
Increasing Burden of Cardiovascular Disorders
Cardiovascular diseases (CVD) continue to be a leading cause of mortality worldwide, with over 620 million people suffering from circulatory and heart diseases in 2023. Coronary artery disease remains a major CVD condition, demanding significant healthcare resources. The prevalence of stroke is also rising, particularly in developing countries. Each year, over 60 million people are diagnosed with circulatory and heart diseases, contributing to a significant mortality burden, with 20 million deaths reported in 2021. By 2024, it is estimated that 244 million people will be affected by coronary artery disease, with 6 million patients undergoing various coronary interventions annually.
North America Leading the Global Coronary Stents Market
In 2023, North America held over 38% of the global coronary stents market, leading the industry with a projected CAGR of 5.26% during the forecast period. The US and Canada contributed 90.71% and 9.29% to the market share, respectively. The dominance of the US is due to its high volume of percutaneous coronary interventions (PCI), a large patient population needing cardiovascular disease (CVD) management, and substantial healthcare spending on coronary artery disease (CAD) and related conditions like diabetes.
According to the CDC, around 400,000 people in North America died from coronary heart diseases in 2022. In 2021, CAD affected 1 in 18 adults aged 20 and above, with a 10% prevalence rate. Approximately 895,000 heart disease-related deaths occurred in 2021, with heart diseases costing the region $245 billion annually.
Market growth is driven by the aging population, increasing chronic disease cases, heightened heart health awareness, rising healthcare expenditure, and improvements in healthcare facilities. The region has 33 million registered diabetes cases, many of which are linked to heart diseases requiring coronary stents.
Key vendors like Abbott and Boston Scientific Corporation dominate the market, contributing to over 500,000 coronary stent implantations annually in the US alone. The presence of numerous vendors and their increasing market penetration intensifies price competition.
Recent Vendor Activities
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In 2023, Abbott acquired Cardiovascular Systems, a medical device company that manufactures an advanced atherectomy system for treating coronary and peripheral artery disease.
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In 2023, Translumina, a global company in interventional cardiovascular medical devices, acquired Blue Medical Devices, a Wellinq Group Company. This acquisition supports and strengthens Translumina's drug-eluting stents portfolio.
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In 2022, MicroPort established its new headquarters in Irvine, which has facilities such as a manufacturing plant and innovation center.
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In April 2022, Biosensor International Group received Japanese PMDA approval for its BioFreedom Ultra and US FDA approval for BioFreedom coronary stents.
Recent Product Launches
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In December 2023, Terumo (India) launched a drug-eluting stent for the treatment of coronary artery disease, Ultimaster Nagomi.
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In Aug 2022, Medtronic launched a newly developed drug-eluting stent, Onyx Frontier coronary stent, with CE market approval.
Buy this Report @ https://www.arizton.com/market-reports/coronary-stents-market-analysis-2024
Key Vendors
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Abbott
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Boston Scientific Corporation
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Medtronic
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Biotronik
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TerumoCorporation
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B.Braun SE
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Biosensors International Group
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MicroPort Scientific Corporation
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Alvimedica
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Vascular Concepts
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Balton
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Cardionovum
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Cook Medical
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Concept Medical
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Relisys Medical Devices
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Elixir Medical
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Endocor GmBH
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OrbusNeich Medical Group
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Eurocor Tech
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HEXACATH
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InSitu Technologies
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Lepu Medical Technology
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Medinol
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Meril Life Sciences
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Q3 Medical Devices
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REVA Medical, LLC
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S3V Vascular Technologies
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Sahajanand Medical Technologies
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SCITECH
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Translumina
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USM Healthcare
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Minvasys
Segmentation & Forecast
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Product Type
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Drug-eluting Stents (DES)
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Second Generation
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Latest Generation
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Bare Metal Stents
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Bioresorbable Stents
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Design
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Permanent
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Fully Degradable
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End-user
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Multi-specialty Hospitals
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Specialty Hospitals
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Geography
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North America
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The U.S.
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Canada
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Europe
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Germany
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The U.K.
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France
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Italy
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Spain
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APAC
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Japan
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China
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India
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Australia
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South Korea
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Latin America
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Brazil
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Mexico
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Argentina
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Middle East & Africa
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Turkey
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South Africa
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Saudi Arabia
Key Questions Answered in the Report:
How big is the global coronary stents market?
What is the growth rate of the global coronary stents market?
Who are the major players in the global coronary stents market?
Which region dominates the global coronary stents market?
What are the key drivers of the global coronary stents market?
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We offer comprehensive market research reports on consumer goods & retail technology, automotive and mobility, smart tech, healthcare, life sciences, industrial machinery, chemicals, materials, I.T. and media, logistics, and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
Arizton comprises a team of exuberant and well-experienced analysts who have mastered generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
Media Contact
Company Name: Arizton Advisory & Intelligence
Contact Person: Jessica
Email:Send Email [https://www.abnewswire.com/email_contact_us.php?pr=the-coronary-stents-market-to-reach-1293-billion-by-2029-strategic-acquisitions-new-product-launches-shape-the-future-of-the-market-arizton]
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Country: United States
Website: https://www.arizton.com/market-reports/coronary-stents-market-analysis-2024
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