Coronary Stent Market Size, Share, Growth Analysis, By Type (Bare-Metal Stents, Drug-Eluting Stents), By Delivery (Balloon-Expandable Stents, Self-Expanding Stents), By Material, By End User, By Region - Industry Forecast 2024-2031
Global Coronary Stent Market size was valued at USD 9.9 billion in 2022 and is poised to grow from USD 10.22 billion in 2023 to USD 13.14 billion by 2031, growing at a CAGR of 3.2% during the forecast period (2024-2031).
The global coronary stent market is experiencing notable growth, driven by a surge in cardiovascular diseases, an aging population, and increasing preference for minimally invasive procedures. As lifestyle changes and unhealthy diets contribute to the rising incidence of these conditions, the demand for coronary stents is heightened. Technological innovations, such as drug-eluting and bioresorbable stents, have enhanced patient outcomes and safety, promoting a transition from traditional bare-metal options. However, the market faces challenges, including the high costs of stent procedures, which may restrict access in lower-income regions, along with stringent regulatory hurdles that manufacturers must navigate. Additionally, potential complications like stent thrombosis and restenosis remain concerns for patients and healthcare providers alike, affecting market dynamics.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Coronary Stent market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Global Coronary Stent Market Segmental Analysis
Global Coronary Stent Market is segmented by type, delivery, material, end user and region. Based on type, the market is segmented into bare-metal stents, drug-eluting stents and bioabsorbable stents. Based on delivery, the market is segmented into balloon-expandable stents and self-expanding stents. Based on material, the market is segmented into metallic stents, cobalt chromium, platinum chromium, nickel titanium, stainless steel and other stents. Based on end user, the market is segmented into hospitals, cardiac centers and ambulatory surgical centers. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Driver of the Global Coronary Stent Market
The global coronary stent market is significantly driven by the escalating prevalence of cardiovascular diseases, particularly coronary artery disease. Factors such as unhealthy dietary habits, sedentary lifestyles, and other lifestyle modifications have contributed to an alarming rise in these health conditions worldwide. As more individuals are diagnosed with cardiovascular ailments, the demand for effective treatments, including coronary stents, continues to increase. This growing health crisis emphasizes the need for innovative medical solutions, making coronary stents an essential component in the management and treatment of heart-related diseases, thus propelling the market forward.
Restraints in the Global Coronary Stent Market
The Global Coronary Stent market faces significant constraints due to stringent regulatory approval processes instituted by governing bodies. These rigorous requirements necessitate comprehensive safety and efficacy evaluations, which can be both time-consuming and resource-draining for manufacturers. Consequently, these lengthy approval timelines can hinder the timely introduction of innovative products into the market, stalling overall market growth and limiting competitiveness. As companies navigate the complexities of compliance, the potential for delays in product launches becomes a notable barrier, impacting their ability to respond swiftly to evolving market demands and capitalize on emerging opportunities.
Market Trends of the Global Coronary Stent Market
The global coronary stent market is witnessing a significant trend towards minimally invasive procedures, particularly percutaneous coronary intervention (PCI). This shift is fueled by an increasing patient preference for treatments that promise shorter hospital stays, faster recovery times, and reduced risks of complications compared to conventional open-heart surgeries. As healthcare professionals and patients alike recognize the advantages of these less invasive techniques, the demand for advanced coronary stents is surging. Furthermore, technological advancements in stent design and materials are enhancing efficacy and safety, solidifying their role in contemporary cardiovascular care and ensuring robust market growth in the upcoming years.
Table of Contents
Introduction
Objectives of the Study
Scope of the Report
Definitions
Research Methodology
Information Procurement
Secondary & Primary Data Methods
Market Size Estimation
Market Assumptions & Limitations
Executive Summary
Global Market Outlook
Supply & Demand Trend Analysis
Segmental Opportunity Analysis
Market Dynamics & Outlook
Market Overview
Market Size
Market Dynamics
Drivers & Opportunities
Restraints & Challenges
Porters Analysis
Competitive rivalry
Threat of substitute
Bargaining power of buyers
Threat of new entrants
Bargaining power of suppliers
Key Market Insights
Key Success Factors
Degree of Competition
Top Investment Pockets
Market Ecosystem
Market Attractiveness Index, 2023
PESTEL Analysis
Macro-Economic Indicators
Value Chain Analysis
Pricing Analysis
Global Coronary Stent Market Size by Type & CAGR (2024-2031)
Market Overview
Bare-Metal Stents
Drug-Eluting Stents
Bioabsorbable Stents
Global Coronary Stent Market Size by Delivery & CAGR (2024-2031)
Market Overview
Balloon-Expandable Stents
Self-Expanding Stents
Global Coronary Stent Market Size by Material & CAGR (2024-2031)
Market Overview
Metallic Stents
Cobalt Chromium
Platinum Chromium
Nickel Titanium
Stainless Steel
Other Stents
Global Coronary Stent Market Size by End User & CAGR (2024-2031)
Market Overview
Hospitals
Cardiac Centers
Ambulatory Surgical Centers
Global Coronary Stent Market Size & CAGR (2024-2031)
North America (Type, Delivery, Material, End User)
US
Canada
Europe (Type, Delivery, Material, End User)
Germany
Spain
France
UK
Italy
Rest of Europe
Asia Pacific (Type, Delivery, Material, End User)
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America (Type, Delivery, Material, End User)
Brazil
Rest of Latin America
Middle East & Africa (Type, Delivery, Material, End User)
GCC Countries
South Africa
Rest of Middle East & Africa
Competitive Intelligence
Top 5 Player Comparison
Market Positioning of Key Players, 2023
Strategies Adopted by Key Market Players
Recent Developments in the Market
Company Market Share Analysis, 2023
Company Profiles of All Key Players
Company Details
Product Portfolio Analysis
Company's Segmental Share Analysis
Revenue Y-O-Y Comparison (2021-2023)
Key Company Profiles
Abbott Laboratories (USA)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Medtronic plc (Ireland)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Boston Scientific Corporation (USA)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Biosensors International Group, Ltd. (Singapore)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Biotronik SE & Co. KG (Germany)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
B. Braun Melsungen AG (Germany)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Terumo Corporation (Japan)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
MicroPort Scientific Corporation (China)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Lepu Medical Technology (Beijing) Co., Ltd. (China)