Coronary Stents Industry Overview

The global coronary stents market size was estimated at USD 9.32 billion in 2022 and is expected to grow a compound annual growth rate (CAGR) of 3.1% from 2023 to 2030.

Growing aging population and a rising prevalence of noncommunicable diseases such as cardiovascular diseases (CVDs), complex lesions, diabetes, obesity, and others are expected to drive demand for coronary stents over the forecast period. According to the World Health Organization (WHO), in 2019, CVDs were among the major causes of mortality worldwide of which ischemic heart disease (IHD) ranks as the most prevalent. In 2019, an estimated 17.9 million people died from CVDs, responsible for 32% of worldwide mortalities.

Gather more insights about the market drivers, restrains and growth of the Coronary Stents Market

According to research published by the National Library of Medicine in June 2021, one of the CVDs, coronary artery disease (CAD), causes roughly 6,10,000 fatalities yearly (an estimated 1 in 4 deaths) and is the major cause of mortality in the U.S. As a result, the unprecedented rise in CAD incidence is predicted to boost demand for an effective coronary stent device for treatment. This factor is expected to bolster the demand throughout the forecast period. Since a coronary stent is used in most of the Percutaneous Coronary Intervention (PCI) procedures.

The rising preference for minimally invasive surgeries (MIS) is another factor expected to boost the adoption of coronary stents over the forecast period. The advantages of these procedures include small incision wounds leading to higher patient satisfaction. These procedures also provide shorter hospital stays and facilitate quick recovery. Stenting technology is increasingly preferred over the conventional balloon angioplasty owing to the introduction of advanced DES and evolving bioresorbable scaffolds. Technological advancements in coronary stents, such as the development of bifurcated stents and the use of biodegradable materials, have led to efficient and improved outcomes of CVD treatment. Companies are proactively involved in product developments and partnerships and strategic collaborations. The aforementioned factors are expected to propel market growth over the forecast period.

The impact of COVID-19 on the market for coronary stents closely tracked the impact of COVID-19 on overall PCI procedures. During the pandemic's initial outbreak and periods of high local COVID-19 case counts, several states, towns, and nations issued orders to citizens to shelter in place or minimize the potential exposure to and transmission of illness, resulting in elective surgeries being postponed. As a result, total PCI procedure volumes-and hence coronary stent unit sales and revenues-went significantly lower in 2020. These revenues are expected to rise as facility capacity usage improves and resumes all the semi-elective to non-urgent procedures.

The notable competitors in the market for coronary stents announced revenue falls in their interventional cardiology portfolios, which include coronary stent devices, in 2020, due to the impact of the COVID-19 pandemic. Boston Scientific, for instance, reported a significant decrease in annual revenues in its Interventional Cardiology segment, which includes coronary stent devices, in 2020, but the company performed relatively well in the first quarter of 2021, reporting revenue growth of approximately 7% globally compared to the first quarter of 2020. In contrast, Abbott Laboratories Laboratories was the least affected, with less impact on its entire vascular segment in 2020, which includes coronary stent devices, in its 2020 annual results.

Browse through Grand View Research's Medical Devices Industry Research Reports.

• The global disposable hospital gowns market size was valued at USD 3.68 billion in 2023 and is projected to grow at a CAGR of 12.9% from 2024 to 2030.
• The global knee braces market size was valued at USD 1.12 billion in 2023 and is projected to grow at a CAGR of 7.7% from 2024 to 2030.

Competitive Insights

Product launches, approvals, strategic acquisitions, and innovations are some of the crucial business strategies adopted by market participants to maintain and grow their global reach. Abbott Laboratories, Boston Scientific, and Medtronic accounted for a significant presence in the overall market. These companies have gained a notable presence in the market due to good strong performances in the lucrative DES market and large product portfolios spanning numerous different IC device categories. For instance, in August 2022, Medtronic launched the Onyx Frontier drug-eluting stent (DES). The new product offers advanced delivery management and improves the overall performance in the most challenging cases.

Despite the dominance of the three major manufacturers, the market for coronary stents is a blend of numerous global and local players. BIOTRONIK, for instance, has been able to establish a significant presence in the entire market by offering low pricing and new technologies that address unmet needs. Positive clinical results from BIOTRONIK's BIONYX, BIOFLOW-V, and BIOSOLVE trials, in conjunction with the use of BIOTRONIK's Orsiro DES and Magmaris BRS, have positioned the company well to compete against the market's largest players. BIOTRONIK is also one of the most competitive players in the overall BRS device market. Terumo Corporation, Biosensors International, and Cardinal Health are a few additional significant competitors in this market. Some of the prominent players in the global coronary stents market include:

• Abbott
• Medtronic
• Boston Scientific Corporation
• Terumo Corporation
• B Braun Melsungen AG
• Biotronik
• Stentys SA
• MicroPort Scientific Corporation
• R. Bard, Inc.
• Cook Medical

Order a free sample PDF of the Coronary Stents Market Intelligence Study, published by Grand View Research.