As per our research report, the global coronary stent market size is forecasted to worth USD 13.81 billion by the end of 2026 and USD 9.58 billion in 2021. This market is estimated to showcase a CAGR of 7.6% during the forecast period. The coronary stent market has expanded across the world and will foresee significant growth during the forecast period. In 2019, North America was the most dominant regional market in the global coronary stent market, and we expect the same trend soon.
Coronary stents are small metal tubes placed in coronary arteries, which are used to supply blood to the heart. Stent help keep arteries open and reduce the chances of narrowing again during coronary heart disease treatment. Also, percutaneous coronary intervention is used to open coronary arteries. The stent is inserted during angioplasty therapy and in an emergency to treat a heart attack disease. A cardiac physician will place the stent over a catheter and directly inserted it into an artery in the body during any heart-related procedure. Dual therapy stent is the latest type of stent in the Coronary Stent Market.
MARKET DRIVERS:
Rising CAD diseases, technological advancements, and increasing aging populations are majorly propelling the global coronary stent market growth.
The prevalence of Coronary Artery Diseases is growing at a rapid pace. According to the stats published by the Centers for Disease Prevention and Control (CDC), an estimated 365,914 people were dead due to Coronary heart disease in 2017, and around 6.7% of the population aged above 20 have the CAD United States. This rising incidence is estimated to boost the global coronary stent market.
The rising geriatric population is another crucial factor significantly contributing to the global Coronary Stent Market growth. According to the World Health Organization (WHO), the aged population (60 or above) is expected to be around 2 billion by the end of 2050, 900 million in 2015.
Additionally, technological advances in coronary stent technology, including bifurcated stents and biodegradable materials, are likely to boost this market demand. Rising disposable income in urban areas is merely to expand the growth of the market. With the introduction of advanced DES and evolving bioabsorbable stents, stent technology is superior to traditional balloon angioplasty, the advances in coronary stent technology and bifurcated stents the use of biodegradable materials have yielded effective and improved results related to CVD treatment. The company is active in product development, partnerships, and strategic cooperation. These factors are expected to drive the growth of the global Coronary Stent Market during the forecast period.
MARKET RESTRAINTS:
Developed countries with strict regulations about coronary stent use, the falling prices for these devices, and the risks associated with DES include stent thrombosis and significant challenges to the global coronary stent market. The disruption of endothelial tissue regeneration and the risk involved in it further limit the market growth to a limited extent.
Lack of skilled professionals in the healthcare sector, raising various competitive treatment methods for artery diseases, and product failure in the real-time application hamper the coronary stent market.
COVID-19 Impact on the global coronary stent market:
The present outbreak of COVID-19 has affected the coronary stent market in many different ways. The supplies of raw materials for manufacturing the stents are being affected as there are restrictions in the movement. Demand for various medical devices is projected to shorten because of delayed elective surgeries. The pandemic has existed as a serious threat globally, causing a death rate and letting huge strain on healthcare resources—a challenge for health providers to treat cardiovascular disease patients during these tough times.
The pandemic has affected the coronary stents and cardiac surgeries in different ways, like beds, limited ICU beds and ventilator, and limitations in the clinical meetings. Patients who are already suffering from cardiac diseases may be at higher risk for deaths from the Coronavirus, including aged people. Moreover, the pandemic has threatened heart transplants' safety, and coronary stents implantations are at high risk. The abstract of coronary stents by secondary companies across many countries has been adversely affected. There has been a reduction in demand for coronary stents, and the stock has not been sold out, creating a negative impact on the medical sector.
REPORT COVERAGE:
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2020 to 2026 |
|
Base Year |
2020 |
|
Forecast Period |
2021 to 2026 |
|
Segments Covered |
By Type, Mode of delivery, material, End-User, and Region |
|
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
|
Regions Covered |
North America, Europe, Asia Pacific, Latin America, Middle East, and Africa |
This research report on the global Coronary Stent Market has been segmented and sub-segmented based on the type, mode of delivery, material, end-user, and region.
Coronary Stent Market Analysis – By Type:
Based on type, the bare metal stents type is holding the highest shares of the market. A rise in the incidences of cardiovascular problems is prompting the demand for this market. Followed by, the market is expected to be driven by Bioabsorbable stents, mainly in the polylactic acid material.
However, drug-eluting stents will generate significant revenue due to new advanced polymer-based products and advanced technology adoption in hospitals. DES is mostly used for coronary disease and peripheral vascular disease. The DES-based polymer has continued high manufacturing and sales in the market that fuel market growth. The bioresorbable stent segment is expected to grow in the coming years due to allowing recovery of vessel vasoreactivity and endothelial functions. The majority of companies are trying to introduce the next generation of bioresorbable stents that reduce patient compliance.
Coronary Stent Market Analysis – By Mode of Delivery:
Based on the mode of delivery, Balloon's expandable stent mode of delivery dominates the most significant shares of the market with the increasing investments in healthcare centers by private and public organizations.
Coronary Stent Market Analysis – By Material:
By material, the Metallic stents segment is growing faster from the past few years with the rise in healthcare expenditure, especially in urban areas.
Coronary Stent Market Analysis – By End-User:
In terms of end-user, Hospitals end-user is leading with prominent shares of the market. Increasing the construction activities of hospitals with the latest equipment is propelling the growth rate of this segment. Increasing support from government and non-government organizations through funds is leveling up the demand of the market. The developed infrastructure of cardiology hospitals is propelling the demand for Coronary Stent Market.
Coronary Stent Market Analysis – By Region:
Regionally, at present, North America is leading the global Coronary Stent Market owing to the quick adoption of the latest technological developments. The Asia Pacific and Europe are following North America in holding the highest shares of the market with the increasing geriatric population and rise in the capital income. The Middle East and Africa are anticipated to have significant growth opportunities in foreseen years with the growing awareness over various treatment procedures.
KEY MARKET PARTICIPANTS:
Notable companies leading the global Coronary Stent Market profiled in the report are Medtronic plc (Ireland), Abbott Laboratories (U.S.), Boston Scientific Corporation (U.S.), Biosensors International Group, Ltd. (Singapore), BIOTRONIK SE & Co. KG (Germany), B Braun Melsungen AG (Germany), TERUMO CORPORATION (Japan), STENTYS SA (France), MicroPort Scientific Corporation (China), Meril Life Sciences Pvt. Ltd. (India), Vascular Concepts (India) and Translumina GmbH (Germany).
RECENT HAPPENINGS IN THIS MARKET:
1.Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Type
5.1.1 Introduction
5.1.2 Bare metal stents
5.1.3 Drug-eluting stents
5.1.4 Bioabsorbable stents
5.1.5 Y-o-Y Growth Analysis, By Type
5.1.6 Market Attractiveness Analysis, By Type
5.1.7 Market Share Analysis, By Type
5.2 Mode of delivery
5.2.1 Introduction
5.2.2 Balloon expandable stents
5.2.3 Self expanding stents
5.2.4 Y-o-Y Growth Analysis, By Mode of delivery
5.2.5 Market Attractiveness Analysis, By Mode of delivery
5.2.6 Market Share Analysis, By Mode of delivery
5.3 Material
5.3.1 Introduction
5.3.2 Metallic stents
5.3.2.1 Cobalt chromium
5.3.2.2 Platinum chromium
5.3.2.3 Nickel titanium
5.3.2.4 Stainless steel
5.3.3 Other stents
5.3.4 Y-o-Y Growth Analysis, By material
5.3.5 Market Attractiveness Analysis, By material
5.3.6 Market Share Analysis, By material
5.4 End user
5.4.1 Introduction
5.4.2 Hospitals
5.4.3 Cardiac centres
5.4.4 Ambulatory surgical centres
5.4.5 Y-o-Y Growth Analysis, By End user
5.4.6 Market Attractiveness Analysis, By End user
5.4.7 Market Share Analysis, By End user
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Type
6.1.3.3 By Mode of delivery
6.1.3.4 By Material
6.1.3.5 By End user
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Type
6.1.4.3 By Mode of delivery
6.1.4.4 By Material
6.1.4.5 By End user
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Type
6.1.5.3 By Mode of delivery
6.1.5.4 By Material
6.1.5.5 By End user
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7.Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1 Medtronic plc
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Abbott Laboratories
8.3 Boston Scientific Corporation
8.4 Biosensors International Group, Ltd.
8.5 BIOTRONIK SE & Co. KG
8.6 B. Braun Melsungen AG
8.7 TERUMO CORPORATION
8.8 Meril Life Sciences Pvt. Ltd.
8.9 MicroPort Scientific Corporation
8.10 STENTYS SA
9.Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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