The global Coronary Stent market is expected to grow from USD 10.25 billion in 2021 to USD 19.98 billion by 2030, at a CAGR of 7.70% during the forecast period 2022-2030, As per the report published by The Brainy Insights.
The advantages of stenting techniques include substantial blood flow improvement and prevention of additional damage to the heart muscles. It also improves heart disease symptoms, like shortness of breath and angina, reducing the need for coronary bypass surgery. Therefore, surgeons choose stents as it is a minimally invasive technique and post-operative healing is quick. Patients dealing with coronary artery blockage are specified for coronary stenting. Angioplasty is the primary therapy line for patients with acute coronary artery blockages. The number of patients experiencing stenting has grown fast over the last few decades. Owing to outpatient coronary stenting techniques decreasing long hospital stays. Additionally, in coronary blockage, bioabsorbable coronary scaffolds have proven more advantageous than drug-eluting stents. Hence, the rising number of cardiologists directing to stenting approaches for patients with coronary artery disease is an influential element anticipated to push revenue development of the coronary stent market shortly.
To enhance their market position in the global coronary stent market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
Market Growth & Trends
For many years, coronary stents have been utilized in peripheral and coronary techniques for locking the artery pinhole. Nowadays, percutaneous coronary intervention is noticing many advancements to make it secure and valuable for therapy during complicated coronary artery disease surgeries. Many big-scale manufacturing companies in the healthcare domain seek to expand technologically refined products for improved stents' safety, deliverability, and efficacy. This quick progress and the need for practical and minimally invasive surgery are expected to extend an extensive possibility for the development of the coronary stent market development. Coronary heart disorders globally are one of the significant elements boosting the market growth during the projection time. Heart disease is the leading cause of death for females and males in the United States. As per the (CDC) Centers for Disease Control and Prevention, approximately 674,000 people in the U.S. pass away from heart conditions yearly. More than 17 million people in the United States deal with cardiovascular conditions.
The stent type segment is divided into covered stent, drug-eluting stent, bioresorbable stent, bare metal stent, and others. In 2021, the drug-eluting stents segment dominated the market with the largest market share of 27% and market revenue of 2.76 billion owing to the increasing need for these stents. Top manufacturers' introduction of new drugs in eluting stents and their global distribution are accountable for the segment's dominance. In 2021, the self-expandable segment dominated the market with the largest market share of 57% and market revenue of 5.84 billion.
The mode of delivery segment is divided into balloon expandable and self-expandable. In 2021, the self-expandable segment dominated the market with the largest market share of 57% and market revenue of 5.84 billion. The self-expandable stent is a valuable option to reduce vascular stenosis in moderate to large-sized vessels with satisfactory a outcomes.
The end-user type segment is divided into specialty clinics, hospitals, ambulatory surgical centers, and others. In 2021, the hospitals segment dominated the market with the largest market share of 25% and market revenue of 2.56 billion due to the existence of advanced skills needed for the complicated procedural interventions. Additionally, increasing collaborations with significant market players will also promote segmental development.
Regional Segment Analysis of the Coronary Stent Market
Among all regions, the North American region emerged as the largest market for the global coronary stent market, with a market share of around 34.5% and 3.53 billion of the market revenue in 2021. The development is due to the region's increasing majority of cardiovascular disorders. As per various research analyses performed by researchers, the people in North America have a more increased chance of acquiring heart diseases owing to the rising adoption of a passive lifestyle, developing binge eating habits, and a more elevated rate of smoking consumption that finally leads to weak immune system and growth in the stress level. These elements powerfully support the natural progression of cardiac disease over time.
Key players operating in the global coronary stent market are:
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global coronary stent market based on the below-mentioned segments:
Global Coronary Stent Market by Stent Type:
Global Coronary Stent Market by Mode of Delivery:
Global Coronary Stent Market by End Use:
About the report:
The global coronary stent market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.