Coronary Stents Market Size, Share, trends, and Forecast to 2027

Press Release : March 26, 2020
Coronary Stents Market Size, Share, trends, and Forecast to 2027
Stents are medical devices intended to use for the treatment of blocked vascular paths and the procedure used to reduce the blockages is
known as percutaneous transluminal coronary angioplasty (PTCA). The stents used for arterial blockage are known as coronary stents or
heart stents. Coronary stents can be either of the three types, which are bare metal stents, drug eluting stents, and bioabsorbable
stents. Although bare metal stents dramatically improves angiographic and clinical outcome of patients, the rate of restenosis is 20–30%.
This is a major factor limiting the usage of bare metal stents and development of next generation of drug eluting stents.
The global coronary stents market size is estimated to be valued at US$ 7,814.4 million in 2018, and is expected to witness a CAGR of
6.8% over the forecast period (2018 – 2026).
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Increasing adoption of stents implantation in cardiovascular blockage is a major factor for the coronary stents market growth
Stents implantation being non-invasive surgery is increasingly gaining popularity as compared to more invasive bypass surgeries, owing to
lower rate of discomfort and shorter recovery time. Moreover, cardiovascular diseases are considered as the leading cause of morbidity
and mortality across the world, in turn fueling demand for coronary stents. According to American Heart Association, 2015, more than
17.3 million people die every year due to cardiovascular disease.
Moreover, increasing research initiatives by local manufacturers to enhance their regional coronary stents market share is boosting the
coronary stents market growth. For instance, Qvanteq, a Switzerland-based company, is engaged in developing Qstents, a coronary stent
system, consisting of various length and diameter combinations, in collaboration with Cardialysis BV, a specialized Clinical Research
Organization (CRO). Such research by local manufacturers are expected to provide products at relatively lower cost, thus increasing
affordability and in turn the product usage. This is expected to aid in the market growth.
Moreover, technological advancement such as nano-coated coronary stents are propelling its adoption, thus aiding in the market growth.
For instance, in 2017, CeloNova BioSciences Inc. is evaluating its proprietary Cobra PzF Nanocoated Coronary Stents (NCS) in patients
with high bleeding risk. Nanocoated coronary stents are alternate therapy for patients incompatible to drug eluting stents and long term
antiplatelet therapy.
Factors such as risky stent implantation is expected to negatively affect growth of the market. For instance, stents implantation is
prone to stents displacement and re-narrowing of the arteries. Re-blockages are addressed by administering blood-thinning drugs, which is
leading to high adoption of drug eluting coronary stents.
Coronary Stents Market Regional Outlook – Asia Pacific to be the fastest growing market over the forecast period
In terms of region, the coronary stents market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and
Africa by Coherent Market Insights. Europe holds dominant position in the coronary stents market, owing to presence of large obese
population with high risk of coronary blockage in the region.
According to European Heart Network’s European Cardiovascular Disease Statistics 2017, in 2015, new cases registered with cardiovascular
disease in Europe was around 11.3 million with nearly 6.1 million new cases of cardiovascular disease in the European Union. The number
is further expected to increase with increase in the rate of obese population.
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However, Asia Pacific coronary stents market is expected to witness significant growth due to lower surgical cost in emerging countries
such as India and China, which is attracting medical tourist. For instance, countries like Thailand and Malaysia is the most preferred
destination for medical tourist, owing to its competitively affordable medical services. According to Malaysia Healthcare Travel Council,
the country is expected to host medical facilities for more than one million medical tourist, accounting for revenues of US$ 310.4
million for 2017.
Moreover, increasing expansion of regional key players in the other regions is also expected to influence the regional market growth. For
instance, in April 2018, Terumo Corporation, Tokyo-based medical device company, received CE mark for Ultimaster TANSEI drug-eluting
stent, which was launched in the European market in May 2018. Furthermore, the company also aims to expand in Middle East, Latin America,
and Asia in the near future.
Key players in the global coronary stents market
Major players operating in the coronary stents market include Boston Scientific Corporation, Abbott, Medtronic plc, B. Braun Melsungen
AG, Stentsy SA, Terumo Interventional Systems, Kyoto Medical Planning Co., Ltd., QualiMed, Elixir Medical Corporation, ENDOCOR GmbH,
BIOTRONIK SE & Co. KG, Amaranth Medical, Inc. and Arterial Remodeling Technologies SA
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