Coronary Stents Market Anticipated to Reach USD 18.56 billion by 2030
Coronary Stents Market is driven by the increasing prevalence in coronary heart disease. Heart stents that absorbable assist in expanding the blood vessel. They are frequently used in the treatment of CHD patients.
The market in the region is mostly powered by North America. This region holds the majority of sales due to the large patient pool at risk of cardiovascular diseases as a result of poor diet and sedentary habits.
Coronary Stents Market is estimated to increase at a CAGR of 4.35% from $ 11.45 billion in 2023 to $ 18.56 billion by 2030
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Growth Driver
Heart disease is a leading cause of death for individuals across the globe. It is a major cause of death for many ailments, such as high blood pressure and coronary artery diseases and much more. The rising number of people suffering from heart disease is predicted to boost the market for coronary stents worldwide over the next few years.
In addition the flexible reimbursement policies and an increasing number of hospitals that are introducing new technologies are contributing to the expansion of this market.
Stents are utilized during angioplasty to increase the cross-section of blood vessels larger which will eliminate the obstructions in the blood vessels. Stents keep that the blood vessel from closing following the procedure and assist patients return to their the normal routine as quickly as possible.
They also increase the level of patients' and doctors satisfaction, which is among the main factors that drive the development in the industry.
Furthermore, the most advanced imaging techniques for medical purposes like Computerized Tomography (CT) as well as magnetic resonance imaging (MRI) as well as Intravascular ultrasound (IVUS) as well as optical coherence imaging are helping in the identification of lesions that require an intervention with stents. This is increasing the market for stents within the US.
Additionally, the aging of the global population as well as continuing research to develop improved stent technologies is driving the demand. For instance, by 2040 it will be one billion people who are over 60 years old and that number is expected to increase to 1.4 billion in 2030.
Trend
The market for coronary stents is expected to grow by a substantial amount during the forecast time. An increasing prevalence of heart ailments as well as the growing awareness about the latest stent implant technology, and technological advances are fueling the market's growth.
Stents are employed to angioplasty to increase the blood vessels larger. This aids in eliminating obstructions within the coronary artery, and thus improves blood flow the heart.
Heart disorders (CVDs) are the main cause of death around the world. CVDs can be categorized as rheumatic heart disease and coronary heart disease stroke peripheral arterial disease, among other diseases.
These illnesses are correlated with poor health and sedentary habits in the general populace. The rising incidence of these diseases will increase the demand for stents that can be absorbed by the heart.
The bioresorbable scaffolds for vascular grafts is predicted to be a major player in the market. They are designed to be absorbed by the body and are not a threat of late thrombosis or other issues that are associated with metal stents.
They also help improve abnormal endothelial function, decrease inflammation, and can bring back normal vasomotion.
It is believed that the North American region holds a significant share of the global market for coronary stents. It is because of an advanced medical infrastructure and well-designed reimbursement policies.
Segments Covered in the Coronary Stents Market Report
By Product:
- Bare Metal Stents
- Drug Eluting Stents
- Bio-absorbable Stents
By Region:
- North America
- Latin America
- Europe
- APAC
- MEA
In addition, the presence of the top medical device makers in this region also contributes to the development of the region.
Regional Outlook
It is believed that the North American region leads the global market for coronary stents. This is primarily due to an established healthcare system and a large patient population in the region. Additionally, the increasing cost of healthcare can also contribute to the development of this market.
However, the cost of stents and the possibility of restenosis are two reasons that could hinder the development in this sector.
The European region is the second-largest region for sales of stents. This is due in part to the size of the patients and significant health care spending. Furthermore, the availability of funds to support R&D is driving the development of this region.
Additionally, the presence of key companies in the region is also a driving factor in the development of this market.
Asian Pacific is the fastest expanding region for the sale of stents. The reason for this is the increasing incidence of heart disease in the region. Furthermore, the growth in the amount of government funds for improvement of healthcare outcomes is driving the expansion in this sector.
The market is extremely competitive and includes a variety of significant players like Boston Scientific Corporation, Medtronic Plc, Abbott, Cardinal Health, MicroPort Scientific Corporation, Terumo Corporation, Biosensors International Group Ltd. (Bluesail Medical Corp. Ltd.) as well as Impulse Dynamics among others. Market players are focused on expanding their product offerings through innovations. This helps to attract new customers and increasing their sales.
Key Players
A range of players operating in the market for coronary stents comprise Medtronic plc, Boston Scientific Corporation, Abbott Laboratories, B. Braun Melsungen AG, Terumo Corporation, Stentys SA, Meril Life Sciences Pvt Ltd, Biosensors International Group as well as other. Boston Scientific Corporation holds a leading place in the drug-eluting (DES) segment with DES products like SYNERGYTM as well as REBELTM stents.
SYNERGYTM Stents are made using the continuous sinusoid technique which reduces the thickness of struts in half, which allows for improved delivery and a better fit of this stent's shape to vessel's wall. REBELTM stents utilize a platinum chromium alloy in order to cut down radiation exposure and treatment time.
The coronary artery condition is the primary reason for peripheral vascular disease that causes heart attacks. Furthermore, it is one of the most significant causes of death across the globe. In 2023, heart diseases resulted in approximately 14,000 deaths within the US and a third was due to heart failure. This is likely to increase the demand for less invasive procedures such as angioplasty.
North America is anticipated to be the dominant market for coronary stents during the forecast time. This is due to the improved health infrastructure and favorable reimbursement conditions within the area. In addition, the presence of important producers and recent approvals of their products can further boost the growth of the region.
Furthermore, the rising rates of cardiovascular disease within the region will contribute to the overall expansion in the industry.
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