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Coronary Stent Market

Coronary Stent Market - By Product, By Material, By Design Type, By Absorption Rate, By Mode of Delivery, By End User & Global Region - Market Size, Trends, Share & Forecast 2020-2025

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  • Status : Ongoing
  • Published on: April 2021
  • Report ID: KDMI-227
  • Available Format: PDF/Execel/DOC
  • Delivery Time: 24-48 hrs

Coronary stents, also referred to as heart stents or cardiac stents are small, expandable, and wired metallic mesh tube-shaped devices which are placed in the constricted coronary arteries that supply blood to the heart, to keep the arteries open for the prevention of blockage during the treatment of coronary heart disease. They are predominantly used in a procedure called percutaneous coronary intervention (PCI) or angioplasty and are also used for a wide range of other indications in CAD, including small-vessel disease (SVD), de novo lesions, bifurcation lesions, and tortuous and narrow lesions.

By improving blood flow to heart, coronary stents aid effectively in reducing angina (chest pain) and shortness of breath, enhancing survivability rate and help in decreasing adverse events in acute myocardial infarctions.

Some advantages of using stenting along with angioplasty include small incision wounds leading to higher patient satisfaction, shorter hospital stays and fast recovery.

The global coronary stents market is expected to witness a CAGR of around 5.9% over the period of next 5 years.

MARKET DRIVERS:

The growth of this market is attributed towards major pertaining factors including; the surging prevalence and recurrence of cardiovascular diseases (CVDs) such as stroke and heart attack across the globe, the increasing incidences of coronary artery disease (CAD) worldwide, the growing number of percutaneous coronary intervention (PCI) procedures, the burgeoning demand for minimally invasive procedures in different regions, the proliferating awareness regarding the risks pertaining to coronary diseases and the increasing availability of diagnostic services for coronary heart diseases etc.

Additionally, the major industry players in the coronary stents market are seen to be majorly emphasizing on the research and development of new and technologically advanced products which offer greater accuracy, reliability and efficiency and which have the option of being modified as per the patient’s condition. Some of the most prominent and notable introductions in the recent years include that of; the introduction of Bioresorbable stents which get absorbed by the body right after serving their purpose, thereby lowering the necessity of further surgery for stent removal; the launch of the smallest DES, Resolute Onyx 2.0 mm Drug-Eluting Stent (DES) in the market, the introduction of minimally invasive coronary stents, the advancements in 2nd generation drug eluting stents (DES), the development of biodegradable and polymer free DES in order to increase patient compliance, the emergence and development of bioresorbable vascular scaffolds and that of third generation DESs with low strut thickness among others etc. These developments contribute tremendously in the growth of demand for coronary stents and also fuel the overall market growth comprehensively.

Moreover, various market vendors along with the government agencies across different regions are enforcing numerous initiatives focused on increasing awareness and information about the availability of the latest-generation heart stents and their advantage over conventional invasive procedures. Also, private and government insurance organizations present in developed countries are witnessed to be rolling out reimbursement policies which cover more than 75% of the cost of the devices and treatment. For instance, Centers for Medicare & Medicaid Services (CMS) from January 2020, proposed reimbursement for some angioplasty and stenting procedures performed in the ambulatory surgical centers (ASC). These efforts play a standing role in the upscaling of the coronary stents market at a considerable rate.

Furthermore, other factors such as the declining prices of coronary stents across different regions, the rising demand for diagnosis and treatment methods and the massive reduction in post-operative trauma and complications with the use of a minimally invasive surgical procedures further augment the growth of the coronary stent market.

However, factors such as the high costs of stents, the availability of alternative treatment methods for CADs, stringent regulations for product approval in developed countries, the lack of skilled healthcare professionals in developing economies, the presence of post-surgical complications and numerous cases of product failure and product recall hinder the growth of this market.

CORONARY STENT MARKET SEGMENTATION:

By Product Type:

  • Bare Metal Stents (BMS)
  • Drug Eluting Stents (DES)
    • Biodegradable
    • Non-Biodegradable
  • Bioresorbable Vascular Scaffold (BVS)
  • Dual Therapy Stent (DTS)
  • Others

By Material:

  • Metallic Stents
  • Cobalt Chromium
  • Platinum Chromium
  • Nickel Titanium
  • Stainless Steel
  • Tantalum Alloy
  • Polymer
  • Others

By Design Type:

  • Slotted
  • Coiled
  • Permanent
  • Fully degradable
  • Others

By Absorption Rate:

  • Slow-Absorption Rate Stents
  • Fast-Absorption Rate Stents

By Mode of Delivery:

  • Balloon-Expandable Stents
  • Self-Expanding Stents

By End User

  • Hospitals
  • Cardiac Centers
  • Specialty Clinics
  • Ambulatory Surgical Centers
  • Others

By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

REGIONAL INSIGHT:

The North American region holds the largest share in the coronary stent market and is expected to further continue with the trend and dominate the market in the upcoming years as well. The growth of the market in the region could be attributed to various factors such as the increasing sedentary lifestyles of the people leading to obesity and other cardiovascular diseases in the region, the growing number of technological advancements in coronary stent technologies such as bifurcated stents in the region, the increasing presence of well-established market players in the region and the burgeoning awareness regarding the risks associated with coronary artery diseases in the region etc. Furthermore, factors such as the growing geriatric population, the growing healthcare expenditure and the high acceptance of advanced and innovative technologies in the region also contribute substantially in the growth of this region’s market. The major contributors to the region are the U.S. and Canada.

The European region is the second most prominent regional market for coronary stents which is further anticipated to experience significant growth in the market in the forthcoming years owing to factors such as the high presence of key stent manufacturing players in the region, the rising focus on the diagnosis of heart and other related diseases in the region, the presence of highly sophisticated healthcare infrastructure in the region, the proliferating expenditure in healthcare by major economies in the region and the burgeoning R&D investments on innovative coronary stents in the region. The major contributors in the region include the UK, Germany, France, Italy, and Spain.

The Asia Pacific region is the third and the fastest growing regional market for coronary stents. The region is further expected to grow massively in the years to follow on account of factors including; the increasing patient pool suffering from cardiovascular diseases in the region, the improving healthcare infrastructure in the developing economies in the region, the low manufacturing cost of coronary stents in the region, the growing adoption of advanced technologies in the region and the increasing number of favorable government initiatives in the region. Furthermore, factors such as the massively augmenting geriatric population, the lifestyle changes among people, the influence of western culture among adults and the growing medical tourism industry in the region also contribute significantly to the growth of the market. The major contributors in the region include India, Japan and China.

FEW KEY PLAYERS IN CORONARY STENT MARKET:

  • Cook Medical
  • BIOTRONIK SE & Co. KG
  • B. Braun Melsungen AG
  • Terumo Corporation
  • Medtronic plc
  • MicroPort Scientific Corporation
  • Meril Life Sciences Pvt. Ltd.
  • STENTYS SA
  • Biosensors International Group Ltd.
  • Kyoto Medical Planning Co. Ltd.
  • Elixir Medical Corporation
  • Reva Medical Inc.
  • C. R. Bard Inc.
  • Vascular Concepts
  • Translumina GmbH
  • Abbott Laboratories
  • Boston Scientific Corporation
  • Other Players

RECENT DEVELOPMENTS:

  • In March 2021, MedAlliance SA, the company commercialising Selution SLR, raised over $50 million in equity funding. Selution SLR is a sirolimus-eluting balloon which is said to provide a controlled and sustained release of a limus drug, with a similar elution time to that of a drug-eluting stent (DES).  Selution SLR was awarded CE mark approval for the treatment of coronary arterial disease in May 2020.
  • In March 2021, Meril Life Sciences announced the launch of its indigenously researched and developed bioresorbable scaffold (BRS) MeRes100 in India.

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