In 2023, The Coronary Stent Market size amounted to USD 9.63 Billion & is estimated to reach USD 12.49 Billion by 2031 and increase at a compound annual growth rate of 3.3% between 2024 and 2031.
The coronary stent market refers to the global market for medical devices known as coronary stents. Coronary stents are small, mesh-like tubes that are used to treat narrowed or blocked coronary arteries, which can lead to conditions like coronary artery disease (CAD) or heart attacks. They are primarily used in a medical procedure called percutaneous coronary intervention (PCI) or angioplasty. The stents are inserted into the narrowed artery and expanded to keep it open, allowing for improved blood flow to the heart muscle. They can be made of metal (e.g., stainless steel) or biodegradable polymer material that dissolves over time. The coronary stent market is influenced by factors such as the prevalence of coronary artery disease, the aging population, lifestyle changes leading to cardiovascular issues, and advancements in stent technology. Additionally, regulatory changes and product innovations can also impact the market dynamics. Some of the reasons driving the growth of the coronary stent market include an increase in the frequency of coronary artery disorders, improvements in patient outcomes with stenting, and an increase in new trends in the area of coronary artery stents. However, the high cost of treatments connected with coronary stents, as well as the availability of other approaches for treating coronary artery disorders, are impeding market expansion.
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In contrast, an increase in demand for coronary stents in emerging nations, as well as increased knowledge about the availability of appropriate insurance and reimbursement policies, are likely to provide attractive potential prospects for the Coronary Stents Market Forecast period. Companies that manufacture and sell coronary stents compete in this market, and the competition can vary based on factors such as the type of stent (drug-eluting stents, bare-metal stents, etc.), brand reputation, pricing, and geographical reach. It's worth noting that the medical device industry, including the coronary stent market, is continually evolving, and newer developments. Other factors that are expected to have a substantial influence on the growth of the coronary stent market include the world's growing elderly population and advancements in stent technology and materials. The senior population (defined as those 65 and above) is more vulnerable to many chronic conditions, such as cardiovascular diseases (CVDs), which need surgical intervention operations to address since CVDs can cause plaque accumulation in the arteries, obstructing them.
DRIVERS:
Advances in diagnostic tools and increased knowledge of cardiovascular disorders have resulted in earlier identification and treatments.
Lifestyle Changes are the main driver of the Coronary Stent Market.
Changing lifestyles characterized by unhealthy dietary habits, sedentary lifestyles, and stress have contributed to a higher incidence of cardiovascular diseases, which, in turn, drives the demand for coronary stent procedures.
RESTRAIN:
The coronary stent market is highly competitive, with several established and new players offering stents.
Adverse Events and Complications are the major restraints of the Coronary Stent Market.
While coronary stents have significantly improved the treatment of coronary artery disease, there are still risks associated with the procedure, such as stent thrombosis, restenosis (re-narrowing of the artery), and other complications. Concerns over these adverse events can sometimes lead to hesitancy among patients and healthcare providers when considering stent procedures.
OPPORTUNITY:
There is a continuous opportunity for research and development to advance coronary stent technology further.
The Coronary Stent Market's largest opportunity is in emerging markets.
Developing economies with improving healthcare infrastructure offer significant growth opportunities for the coronary stent market. As these countries experience rising income levels, an aging population, and an increased prevalence of cardiovascular diseases, the demand for coronary stent procedures is likely to grow.
CHALLENGES:
The market is highly competitive with numerous players offering coronary stents.
Adverse Events and complications are the main challenges of the Coronary Stent Market.
While coronary stents have improved the treatment of coronary artery disease, there are still risks associated with the procedure, such as stent thrombosis, restenosis (re-narrowing of the artery), and other complications. These adverse events can lead to concerns among patients and healthcare providers, impacting the adoption of coronary stents.
Supply delays caused by idling steel facilities in Ukraine are among the first wave of negative conflict repercussions. At the start of the war, the bulk of steel factories were shut down. Only two steel factories were operational in December. Their capacity utilization is less than 32%. The poor utilization can be attributed to logistical and energy issues. Russian missile assaults severely harmed energy infrastructure. It resulted in widespread power disruptions. Electricity supply is frequently disrupted. Because the manufacturing of iron ore concentrate requires a lot of energy, 7 of the 14 iron ore mining facilities are still in operation. Logistics issues restrict export geography. The Russian fleet blocked Ukrainian seaports at the start of the war. It ruined Ukrainian seaborne exports, with the Middle East and North Africa bearing the brunt of the damage. Ukrainian iron ore, pig iron, and semi-finished steel products were heavily consumed by local steel factories. estimate that Ukraine's monthly export losses total $430 million as a result of blocked seaports. Steel is mainly used in the products made in the coronary stent market and due to the ongoing war between Ukraine and Russia, the coronary stent market is suffering a loss of 4-5% due to the non-delivery of steel in time.
IMPACT OF ONGOING RECESSION
The prospect of a recession has been widely publicized, not only in rich nations but also in struggling emerging economies that have only recently begun to recover from the economic effect of COVID. Healthcare, like many other businesses, is not immune to economic cycles. Healthcare practitioners and support workers are expected to be in short supply in the future years, according to industry experts. One solution to this challenge has been the employment of temporary suppliers. The ongoing recession also impacts on coronary stent market, in this recession coronary stent products & services increased their price by 5-6%.
By Type
Bioabsorbable Stents
Bare-metal Coronary Stents
Drug-eluting Stents
By Biomaterial
Natural biomaterials
Polymers biomaterials
Metallic biomaterials
By End Users
Hospitals
Other
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North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
REGIONAL ANALYSIS
North America: North America led the market for coronary stents and accounted for the biggest revenue share, and this trend is expected to continue in the near future. Obesity and other cardiovascular illnesses such as heart attack, stroke, ischemic heart disease (IHD), and others are majorly driving the coronary stents market in North America. Furthermore, technical breakthroughs in coronary stent technology, such as drug-eluting stents and the utilization of biodegradable materials, have boosted market growth.
Asia Pacific: The Asia-Pacific Coronary Stents Market Opportunity is expanding due to a growth in the number of cardiac centers, an increase in the incidence of coronary artery disease, and an increase in the elderly population. According to the United Nations Population Fund (UNFPA), for example, the elderly population in Asia-Pacific is expected to triple. Because of ageing, the elderly population is more prone to developing coronary artery disorders, which cause the weakening of blood vessels and heart muscles, hence boosting regional development.
Some major key players in Coronary Stent Market are Abbott, Boston Scientific Corporation, Medtronic, B Braun Melsungen AG, Boston Scientific Corporation, Stentys SA, MicroPort Scientific Corporation, Terumo Corporation, Biotronik, Cook Medical, C. R. Bard, Inc. and other players.
In 2022: Following CE Mark certification, Medtronic released the Onyx Frontier drug-eluting stent in Europe.
In 2022: Medtronic plc got FDA clearance for the Onyx Frontier drug-eluting stent, which has a delivery mechanism designed to improve the stent's deliverability and acute performance.
| Report Attributes | Details |
| Market Size in 2023 | US$ 9.63 Bn |
| Market Size by 2031 | US$ 12.49 Bn |
| CAGR | CAGR of 3.3% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Type (Bioabsorbable Stents, Bare-metal Coronary Stents, Drug-eluting Stents,) • By Biomaterial (Natural biomaterials, Polymers biomaterials, Metallic biomaterials) • By End User (Ambulatory Surgical Centers, Hospitals, Other) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Company Profiles | Abbott, Boston Scientific Corporation, Medtronic, B Braun Melsungen AG, Boston Scientific Corporation, Stentys SA, MicroPort Scientific Corporation Terumo Corporation, Biotronik, Cook Medical, C. R. Bard, Inc. |
| Key Drivers | • Advances in diagnostic tools and increased knowledge of cardiovascular disorders have resulted in earlier identification and treatments. • Lifestyle Changes are the main driver of the Coronary Stent Market. |
| Market Restraints | • The coronary stent market is highly competitive, with several established and new players offering stents. • Adverse Events and Complications are the major restraints of the Coronary Stent Market. |
Ans. The Coronary Stent Market is to grow at a healthy CAGR of 3.3% over the forecast period 2024-2031.
Ans. The Coronary Stent Market size was valued at US$ 9.63 Bn in 2023.
Ans. During the projection period (2024-2031), Asia Pacific is expected to develop at the fastest CAGR.
Ans. The market for Coronary Stents is anticipated to be worth USD 12.49 Billion by 2031.
Ans. North America will have the greatest market share in the Coronary Stent Market by 2023.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of Russia-Ukraine War
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Coronary Stent Market Segmentation, By Type
8.1 Bioabsorbable Stents
8.2 Bare-metal Coronary Stents
8.3 Drug-eluting Stents
9. Coronary Stent Market Segmentation, By Biomaterial
9.1 Natural biomaterials
9.2 Polymers biomaterials
9.3 Metallic biomaterials
10. Coronary Stent Market Segmentation, By End User
10.1 Ambulatory Surgical Centers
10.2 Hospitals
10.3 Other
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 North America Coronary Stent Market by Country
11.2.2 North America Coronary Stent Market by Type
11.2.3 North America Coronary Stent Market by Biomaterial
11.2.4 North America Coronary Stent Market by End User
11.2.5 USA
11.2.5.1 USA Coronary Stent Market by Type
11.2.5.2 USA Coronary Stent Market by Biomaterial
11.2.5.3 USA Coronary Stent Market by End User
11.2.6 Canada
11.2.6.1 Canada Coronary Stent Market by Type
11.2.6.2 Canada Coronary Stent Market by Biomaterial
11.2.6.3 Canada Coronary Stent Market by End User
11.2.7 Mexico
11.2.7.1 Mexico Coronary Stent Market by Type
11.2.7.2 Mexico Coronary Stent Market by Biomaterial
11.2.7.3 Mexico Coronary Stent Market by End User
11.3 Europe
11.3.1 Eastern Europe
11.3.1.1 Eastern Europe Coronary Stent Market by Country
11.3.1.2 Eastern Europe Coronary Stent Market by Type
11.3.1.3 Eastern Europe Coronary Stent Market by Biomaterial
11.3.1.4 Eastern Europe Coronary Stent Market by End User
11.3.1.5 Poland
11.3.1.5.1 Poland Coronary Stent Market by Type
11.3.1.5.2 Poland Coronary Stent Market by Biomaterial
11.3.1.5.3 Poland Coronary Stent Market by End User
11.3.1.6 Romania
11.3.1.6.1 Romania Coronary Stent Market by Type
11.3.1.6.2 Romania Coronary Stent Market by Biomaterial
11.3.1.6.4 Romania Coronary Stent Market by End User
11.3.1.7 Turkey
11.3.1.7.1 Turkey Coronary Stent Market by Type
11.3.1.7.2 Turkey Coronary Stent Market by Biomaterial
11.3.1.7.3 Turkey Coronary Stent Market by End User
11.3.1.8 Rest of Eastern Europe
11.3.1.8.1 Rest of Eastern Europe Coronary Stent Market by Type
11.3.1.8.2 Rest of Eastern Europe Coronary Stent Market by Biomaterial
11.3.1.8.3 Rest of Eastern Europe Coronary Stent Market by End User
11.3.2 Western Europe
11.3.2.1 Western Europe Coronary Stent Market by Country
11.3.2.2 Western Europe Coronary Stent Market by Type
11.3.2.3 Western Europe Coronary Stent Market by Biomaterial
11.3.2.4 Western Europe Coronary Stent Market by End User
11.3.2.5 Germany
11.3.2.5.1 Germany Coronary Stent Market by Type
11.3.2.5.2 Germany Coronary Stent Market by Biomaterial
11.3.2.5.3 Germany Coronary Stent Market by End User
11.3.2.6 France
11.3.2.6.1 France Coronary Stent Market by Type
11.3.2.6.2 France Coronary Stent Market by Biomaterial
11.3.2.6.3 France Coronary Stent Market by End User
11.3.2.7 UK
11.3.2.7.1 UK Coronary Stent Market by Type
11.3.2.7.2 UK Coronary Stent Market by Biomaterial
11.3.2.7.3 UK Coronary Stent Market by End User
11.3.2.8 Italy
11.3.2.8.1 Italy Coronary Stent Market by Type
11.3.2.8.2 Italy Coronary Stent Market by Biomaterial
11.3.2.8.3 Italy Coronary Stent Market by End User
11.3.2.9 Spain
11.3.2.9.1 Spain Coronary Stent Market by Type
11.3.2.9.2 Spain Coronary Stent Market by Biomaterial
11.3.2.9.3 Spain Coronary Stent Market by End User
11.3.2.10 Netherlands
11.3.2.10.1 Netherlands Coronary Stent Market by Type
11.3.2.10.2 Netherlands Coronary Stent Market by Biomaterial
11.3.2.10.3 Netherlands Coronary Stent Market by End User
11.3.2.11 Switzerland
11.3.2.11.1 Switzerland Coronary Stent Market by Type
11.3.2.11.2 Switzerland Coronary Stent Market by Biomaterial
11.3.2.11.3 Switzerland Coronary Stent Market by End User
11.3.2.1.12 Austria
11.3.2.12.1 Austria Coronary Stent Market by Type
11.3.2.12.2 Austria Coronary Stent Market by Biomaterial
11.3.2.12.3 Austria Coronary Stent Market by End User
11.3.2.13 Rest of Western Europe
11.3.2.13.1 Rest of Western Europe Coronary Stent Market by Type
11.3.2.13.2 Rest of Western Europe Coronary Stent Market by Biomaterial
11.3.2.13.3 Rest of Western Europe Coronary Stent Market by End User
11.4 Asia-Pacific
11.4.1 Asia-Pacific Coronary Stent Market by Country
11.4.2 Asia-Pacific Coronary Stent Market by Type
11.4.3 Asia-Pacific Coronary Stent Market by Biomaterial
11.4.4 Asia-Pacific Coronary Stent Market by End User
11.4.5 China
11.4.5.1 China Coronary Stent Market by Type
11.4.5.2 China Coronary Stent Market by Biomaterial
11.4.5.3 China Coronary Stent Market by End User
11.4.6 India
11.4.6.1 India Coronary Stent Market by Type
11.4.6.2 India Coronary Stent Market by Biomaterial
11.4.6.3 India Coronary Stent Market by End User
11.4.7 japan
11.4.7.1 Japan Coronary Stent Market by Type
11.4.7.2 Japan Coronary Stent Market by Biomaterial
11.4.7.3 Japan Coronary Stent Market by End User
11.4.8 South Korea
11.4.8.1 South Korea Coronary Stent Market by Type
11.4.8.2 South Korea Coronary Stent Market by Biomaterial
11.4.8.3 South Korea Coronary Stent Market by End User
11.4.9 Vietnam
11.4.9.1 Vietnam Coronary Stent Market by Type
11.4.9.2 Vietnam Coronary Stent Market by Biomaterial
11.4.9.3 Vietnam Coronary Stent Market by End User
11.4.10 Singapore
11.4.10.1 Singapore Coronary Stent Market by Type
11.4.10.2 Singapore Coronary Stent Market by Biomaterial
11.4.10.3 Singapore Coronary Stent Market by End User
11.4.11 Australia
11.4.11.1 Australia Coronary Stent Market by Type
11.4.11.2 Australia Coronary Stent Market by Biomaterial
11.4.11.3 Australia Coronary Stent Market by End User
11.4.12 Rest of Asia-Pacific
11.4.12.1 Rest of Asia-Pacific Coronary Stent Market by Type
11.4.12.2 Rest of Asia-Pacific Coronary Stent Market by Biomaterial
11.4.12.3 Rest of Asia-Pacific Coronary Stent Market by End User
11.5 Middle East & Africa
11.5.1 Middle East
11.5.1.1 Middle East Coronary Stent Market by Country
11.5.1.2 Middle East Coronary Stent Market by Type
11.5.1.3 Middle East Coronary Stent Market by Biomaterial
11.5.1.4 Middle East Coronary Stent Market by End User
11.5.1.5 UAE
11.5.1.5.1 UAE Coronary Stent Market by Type
11.5.1.5.2 UAE Coronary Stent Market by Biomaterial
11.5.1.5.3 UAE Coronary Stent Market by End User
11.5.1.6 Egypt
11.5.1.6.1 Egypt Coronary Stent Market by Type
11.5.1.6.2 Egypt Coronary Stent Market by Biomaterial
11.5.1.6.3 Egypt Coronary Stent Market by End User
11.5.1.7 Saudi Arabia
11.5.1.7.1 Saudi Arabia Coronary Stent Market by Type
11.5.1.7.2 Saudi Arabia Coronary Stent Market by Biomaterial
11.5.1.7.3 Saudi Arabia Coronary Stent Market by End User
11.5.1.8 Qatar
11.5.1.8.1 Qatar Coronary Stent Market by Type
11.5.1.8.2 Qatar Coronary Stent Market by Biomaterial
11.5.1.8.3 Qatar Coronary Stent Market by End User
11.5.1.9 Rest of Middle East
11.5.1.9.1 Rest of Middle East Coronary Stent Market by Type
11.5.1.9.2 Rest of Middle East Coronary Stent Market by Biomaterial
11.5.1.9.3 Rest of Middle East Coronary Stent Market by End User
11.5.2 Africa
11.5.2.1 Africa Coronary Stent Market by Country
11.5.2.2 Africa Coronary Stent Market by Type
11.5.2.3 Africa Coronary Stent Market by Biomaterial
11.5.2.4 Africa Coronary Stent Market by End User
11.5.2.5 Nigeria
11.5.2.5.1 Nigeria Coronary Stent Market by Type
11.5.2.5.2 Nigeria Coronary Stent Market by Biomaterial
11.5.2.5.3 Nigeria Coronary Stent Market by End User
11.5.2.6 South Africa
11.5.2.6.1 South Africa Coronary Stent Market by Type
11.5.2.6.2 South Africa Coronary Stent Market by Biomaterial
11.5.2.6.3 South Africa Coronary Stent Market by End User
11.5.2.7 Rest of Africa
11.5.2.7.1 Rest of Africa Coronary Stent Market by Type
11.5.2.7.2 Rest of Africa Coronary Stent Market by Biomaterial
11.5.2.7.3 Rest of Africa Coronary Stent Market by End User
11.6 Latin America
11.6.1 Latin America Coronary Stent Market by Country
11.6.2 Latin America Coronary Stent Market by Type
11.6.3 Latin America Coronary Stent Market by Biomaterial
11.6.4 Latin America Coronary Stent Market by End User
11.6.5 Brazil
11.6.5.1 Brazil America Coronary Stent Market by Type
11.6.5.2 Brazil America Coronary Stent Market by Biomaterial
11.6.5.3 Brazil America Coronary Stent Market by End User
11.6.6 Argentina
11.6.6.1 Argentina America Coronary Stent Market by Type
11.6.6.2 Argentina America Coronary Stent Market by Biomaterial
11.6.6.3 Argentina America Coronary Stent Market by End User
11.6.7 Colombia
11.6.7.1 Colombia America Coronary Stent Market by Type
11.6.7.2 Colombia America Coronary Stent Market by Biomaterial
11.6.7.3 Colombia America Coronary Stent Market by End User
11.6.8 Rest of Latin America
11.6.8.1 Rest of Latin America Coronary Stent Market by Type
11.6.8.2 Rest of Latin America Coronary Stent Market by Biomaterial
11.6.8.3 Rest of Latin America Coronary Stent Market by End User
12 Company Profile
12.1 Abbott
12.1.1 Company Overview
12.1.2 Financials
12.1.3 Product/Services Offered
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 Boston Scientific Corporation
12.2.1 Company Overview
12.2.2 Financials
12.2.3 Product/Services Offered
12.2.4 SWOT Analysis
12.2.5 The SNS View
12.3 Medtronic
12.3.1 Company Overview
12.3.2 Financials
12.3.3 Product/Services Offered
12.3.4 SWOT Analysis
12.3.5 The SNS View
12.4 B Braun Melsungen AG
12.4.1 Company Overview
12.4.2 Financials
12.4.3 Product/Services Offered
12.4.4 SWOT Analysis
12.4.5 The SNS View
12.5 Boston Scientific Corporation
12.5.1 Company Overview
12.5.2 Financials
12.5.3 Product/Services Offered
12.5.4 SWOT Analysis
12.5.5 The SNS View
12.6 Stentys SA
12.6.1 Company Overview
12.6.2 Financials
12.6.3 Product/Services Offered
12.6.4 SWOT Analysis
12.6.5 The SNS View
12.7 MicroPort Scientific Corporation
12.7.1 Company Overview
12.7.2 Financials
12.7.3 Product/Services Offered
12.7.4 SWOT Analysis
12.7.5 The SNS View
12.8 Biotronik
12.8.1 Company Overview
12.8.2 Financials
12.8.3 Product/Services Offered
12.8.4 SWOT Analysis
12.8.5 The SNS View
12.9 Cook Medical
12.9.1 Company Overview
12.9.2 Financials
12.9.3 Product/Services Offered
12.9.4 SWOT Analysis
12.9.5 The SNS View
12.10 C. R. Bard, Inc.
12.10.1 Company Overview
12.10.2 Financials
12.10.3 Product/Services Offered
12.10.4 SWOT Analysis
12.10.5 The SNS View
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
13.3.1 Industry News
13.3.2 Company News
13.3.3 Mergers & Acquisitions
14. Use Case and Best Practices
15. Conclusion
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