Coronary Stents Market to Register 12.9% CAGR, Exceeding US$ 25.7 Bn by 2028

Over 4 Out of 5 Coronary Stents Sales to be Contributed by Drug Eluting Stents (DES)

In its latest report, Fact.MR presents an elaborate analysis of various factors influencing the global coronary stents market, including drivers, opportunities, restraints, and trends. It further delves deeper into major observations concerning prominent expansion parameters prevailing across key segments, including products and regions. 

NEW YORK, May 5, 2022 /PRNewswire/ -- The global coronary stents market stood at US$ 10.1 Bn in 2020. With sales increasing at a CAGR of 12.9%, the global coronary stents market is estimated to reach US$ 25.7 Bn during the forecast period from 2021 to 2028.

Increasing prevalence of cardiovascular diseases, such as heart attack and stroke across the globe is projected to bode well for the market. Surging geriatric population that is at a high risk of developing these diseases is another key driving factor.

According to the World Health Organization (WHO), cardiovascular diseases take around 17.9 million lives worldwide every year. More than 4 out of 5 deaths associated with these diseases are due to strokes and heart attacks. These numbers are set to grow at a fast pace over the coming years, thereby propelling the market.

Further, rising number of percutaneous coronary intervention (PCI) procedures is anticipated to positively affect the global market. Increasing preference for minimally invasive surgical procedures and launch of cutting-edge instruments for treatment are some of the other crucial factors that would augment the market.

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Drug eluting stents are witnessing high demand in the global market backed by rising prevalence of atherosclerosis among the aging population. Bare metal stents, on the other hand, are projected to generate a considerable demand on account of their surging usage in many percutaneous coronary intervention (PCI) procedures.

Moreover, key companies are investing huge sums in the development of new generation bioresorbable scaffolds (BRS) technology. Urgent need to provide better patient compliance is another significant factor that is likely to accelerate the market.

In addition to that, entry of many local and regional companies worldwide is projected to push the development of self-expandable coronary stents in the upcoming years. These have proved to be highly efficient in the treatment of myocardial infarction and thus would generate more demand.

Key Takeaways:

• Based on product, the drug eluting stents (DES) segment held more than 80% of the global market share in 2020.
• North America coronary stents market accounted for nearly 30% of the revenue share in 2020.
• The U.S. coronary stents market is expected to procure the lion's share owing to ongoing development of specialty clinics.
• China is likely to generate the second-largest market share backed by increasing number of clinical trials to develop new treatment options.
• The global coronary stents market was valued at US$ 11.0 Bn in 2021.

Growth Drivers:

• Surging demand for minimally invasive surgeries to facilitate quick recovery and shorten hospital stays will drive the market.
• Rapid development of bioresorbable vascular scaffold (BVS) for the treatment of narrowed arteries is projected to push sales in the market.

Restraints:

• Numerous cases of product recalls on the back of product failure may hamper growth of the global market.
• Availability of various alternate treatment methods for Coronary Artery Disease (CAD) is set to obstruct growth.

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Competitive Landscape:

The global market is highly consolidated in nature and it contains a blend of local, as well as international companies. Majority of these companies are increasingly focusing on strategic collaborations to expand their presence worldwide.

Abbott is one of the leading players in the global market. The company is mainly aiming to launch cutting-edge products to cater to the high unmet needs of customers and generate more shares. Meanwhile, a few other local firms are engaging in joint ventures and partnerships to strengthen their positions in the market.

For instance,

• April 2022: Translumina, which is a renowned interventional cardiovascular device company based in Delhi, introduced its new generation Dual Drug Polymer-free Coated Stent (DDCS) named VIVO ISAR in several international markets, including Europe. It would provide a stent with superior safety profile and would not compromise the drug release kinetics.
• August 2021: SINOMED, a reputed medical device company headquartered in China, announced that it has successfully implemented the HT Supreme Drug-Eluting Stent (DES) at the University Hospital Galway. The company joined hands with the National University of Ireland Galway to initiate this commercial implementation.

Key Companies Profiled by Fact.MR

• Abbott Laboratories, Inc.
• Boston Scientific Corporation
• Medtronic, Inc.
• Terumo Corporation
• B. Braun Melsungen AG
• C. R. Bard, Inc.
• Cook Medical, Inc.
• Biotronik SE & Co. KG
• MicroPort Scientific Corporation

More Valuable Insights on Coronary Stents Market

In the latest study, Fact.MR reveals key factors expected to boost the growth in global coronary stents market during the forecast period (2021-2028). The survey also provides an in-depth analysis of opportunities and drivers projected to propel sales of coronary stents through detailed segmentation as follows:

By Product:

• Bare Metal Stents
• Drug Eluting Stents
• Bio-absorbable Stents

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• MEA

Key Questions Covered in the Coronary Stents Market Report

• What is the estimated revenue of the coronary stents market during the forecast period?
• Which are the challenges faced in the coronary stents market?
• Which region is estimated to exhibit fastest growth rate in the global coronary stents market during 2021-2028?
• What is the projected market valuation of the coronary stents market in 2021?
• Which are the factors driving the coronary stents during 2021-2028?
• What is the expected growth rate of the coronary stents market until 2028?

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About Fact.MR

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