Coronary Stents Industry Overview

The global coronary stents market was valued at approximately USD 9.32 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 3.1% from 2023 to 2030. This growth is primarily driven by the increasing aging population and the rising prevalence of non-communicable diseases, particularly cardiovascular diseases (CVDs), complex lesions, diabetes, and obesity. According to the World Health Organization (WHO), cardiovascular diseases were among the leading causes of mortality worldwide in 2019, with ischemic heart disease (IHD) being the most prevalent form. In that year alone, an estimated 17.9 million people lost their lives to CVDs, accounting for 32% of all global deaths.

Research published by the National Library of Medicine in June 2021 highlights that coronary artery disease (CAD), a type of cardiovascular disease, results in approximately 610,000 fatalities annually, which translates to about 1 in 4 deaths in the U.S. This alarming increase in CAD cases is expected to significantly drive the demand for effective coronary stent devices used in treatment. Given that coronary stents are integral to most Percutaneous Coronary Intervention (PCI) procedures, the growing incidence of CAD is anticipated to further enhance the demand for these devices throughout the forecast period.

Gather more insights about the market drivers, restrains and growth of the Coronary Stents Market

Regional Insights:

North America Market Leadership in Coronary Stents (2022): North America held the largest revenue share of 32.6% in the coronary stents market and is expected to maintain this trend.

• Key Growth Drivers:
• Sedentary Lifestyle-Related Health Issues: High rates of sedentary lifestyles in the region contribute to obesity and cardiovascular diseases such as heart attacks, strokes, and ischemic heart diseases, increasing the demand for coronary stents.
• Advancements in Coronary Stent Technologies: Innovations in stent technologies, including drug-eluting stents and biodegradable stents, are boosting market growth by offering safer, more effective treatment options.
• Presence of Leading Companies: Mature market players such as Medtronic, Abbott, and Boston Scientific provide advanced products and play a significant role in sustaining market growth.

Asia Pacific Coronary Stents Market Growth: The Asia Pacific region is anticipated to experience the fastest revenue growth rate in the coronary stents market.

• Growth Factors:
• Enhanced Screening for Coronary Artery Disease (CAD): Increasing emphasis on early screening for CAD contributes to rising demand for stents.
• Economic Growth: Expanding economies in the region lead to higher healthcare spending, driving market growth.
• Regulatory Updates: Favorable regulations in some countries facilitate market entry and device accessibility.
• Reimbursement Policies: Supportive reimbursement policies in countries like Australia and South Korea make stent procedures more accessible.
• Government Initiatives in Cost-Constrained Markets:
• Investment in Affordable Healthcare: Governments in cost-sensitive countries like India and China are investing in initiatives to make coronary stents more affordable.
• China’s Centralized Procurement Scheme: In January 2021, China launched a centralized procurement program for high-value medical devices, including coronary stents. This policy bypasses intermediaries by purchasing directly from manufacturers, which reduces costs.
• Dramatic Price Reduction: Since 2019, the cost of coronary stents in China has dropped by 93% to secure the national tender, making them more accessible to a larger patient population.

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Key Coronary Stents Company Insights

Product launches, approvals, strategic acquisitions, and innovations are some of the crucial business strategies adopted by market participants to maintain and grow their global reach. Abbott Laboratories, Boston Scientific, and Medtronic accounted for a significant presence in the overall market. These companies have gained a notable presence in the market due to good strong performances in the lucrative DES market and large product portfolios spanning numerous different IC device categories. For instance, in August 2022, Medtronic launched the Onyx Frontier drug-eluting stent (DES). The new product offers advanced delivery management and improves the overall performance in the most challenging cases.

Despite the dominance of the three major manufacturers, the market for coronary stents is a blend of numerous global and local players. BIOTRONIK, for instance, has been able to establish a significant presence in the entire market by offering low pricing and new technologies that address unmet needs. Positive clinical results from BIOTRONIK's BIONYX, BIOFLOW-V, and BIOSOLVE trials, in conjunction with the use of BIOTRONIK's Orsiro DES and Magmaris BRS, have positioned the company well to compete against the market's largest players. BIOTRONIK is also one of the most competitive players in the overall BRS device market. Terumo Corporation, Biosensors International, and Cardinal Health are a few additional significant competitors in this market. Some of the prominent players in the global coronary stents market include:

• Abbott
• Medtronic
• Boston Scientific Corporation
• Terumo Corporation
• B Braun Melsungen AG
• Biotronik
• Stentys SA
• MicroPort Scientific Corporation
• R. Bard, Inc.
• Cook Medical 

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