The fight against heart disease is gaining momentum with advancements in coronary stents. The global Coronary Stents Market is projected to reach a substantial USD 51.2 billion by 2032, reflecting a steady growth trajectory. This translates to a projected Compound Annual Growth Rate (CAGR) of 5.1% from 2022 to 2032. In 2022, the market was valued at an estimated USD 33.36 billion.
The increasing awareness of the manifold benefits associated with stenting procedures, such as the significant enhancement of blood flow and protection against further damage to the heart muscle, is a pivotal driver of market expansion. Stenting also offers a means to ameliorate heart disease symptoms, including angina and shortness of breath, ultimately reducing the necessity for coronary bypass surgery. Consequently, both surgeons and patients, given its minimally invasive nature and relatively brief post-operative recovery period, favor stenting.
Furthermore, a rise in the global geriatric population is leading to a larger patient pool with serious cardiovascular diseases. Again, hypertension is arising as a grave public health concern. Obesity, too, adds to this burden as one of the primary risk factors accountable for different cardiovascular diseases worldwide.
Coronary stenting is prescribed to patients who are suffering from coronary artery blockage. Though angioplasty is the first line of treatment for patients with acute coronary artery blockages the number of patients undergoing stenting has been increasing steadily over the last ten years. This is owing to the rise of outpatient coronary stenting procedures, which shortens long hospital stays. Additionally, a large number of cardiologists prescribing stenting procedures for patients with CAD is a prime factor that will likely fuel revenue growth of the coronary stent market during the forecast period.
“Increasing cases of lifestyle diseases like obesity and diabetes often result in heart issues which, in turn, supplements the global growth of the coronary stents market over the forecast period,” says an FMI analyst.
Coronary Stents Market Key Takeaways:
- Rising awareness of the benefits associated with stenting will strengthen market prospects.
- Prevalence of alternative treatment methods, product failure, and recalls are certain factors that may hamper market growth.
- Growing cases of coronary artery diseases propel the coronary stent market in the United States.
- Favorable government support for the healthcare sector will present new market opportunities in China.
Coronary Stents Market Competitive Landscape
Abbott, Medtronic, Boston Scientific Corporation, Terumo Corporation, B Braun Melsungen AG, Biotronik, Stentys SA, MicroPort Scientific Corporation, C. R. Bard, Inc., and Cook Medica among others are some of the major players in the coronary stents market profiled in the full version of the report.
Key market players are focusing on product upgrades and offering new features to meet the rising consumer demand. These organizations are employing strategies like new product releases, partnerships, collaborations, mergers, and acquisitions to gain a competitive advantage.
More Insights into Coronary Stents Market Report
In its latest report, FMI offers an unbiased analysis of the global coronary stents market, providing historical data from 2016 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented based on product type (drug-eluting stent (DES), bare metal stent (BMS), bioresorbable vascular stent (BVS)), raw material (cobalt chromium, stainless steel, platinum-chromium, nickel-titanium, polymer), end user (hospitals, ambulatory surgical centers, cardiac catheterization laboratories), and region.
According to the latest FMI reports, based on region, China’s coronary stent market will likely exhibit an impressive growth rate during the observation period due to favorable government support for the healthcare sector. The coronary stent market in the United States is anticipated to demonstrate substantial growth over the forecast period. The rising prevalence of coronary artery disease is spurring the demand for interventional cardiology treatment in this country. Sedentary lifestyles, smoking, poor dietary habits, and pollution often contribute to increasing cases of cardiovascular diseases. All of these factors are expected to drive the demand for the target market during 2022-2032.
Key Segments Covered in the Coronary Stents Market Analysis
By Product:
- Drug Eluting Stent (DES)
- Bare Metal Stent (BMS)
- Bioresorbable Vascular Stent (BVS)
By Raw Material:
- Cobalt-Chromium
- Stainless Steel
- Platinum – Chromium
- Nickel – Titanium
- Polymer
By End User:
- Hospitals
- Ambulatory Surgical Centers
- Cardiac Catheterization Laboratories
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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