Global Coronary Stents Market Report and Forecast 2024-2032

Global Coronary Stents Market Outlook

The global coronary stents market size was valued at USD 9.8 billion in 2023, driven by the increasing incidence of coronary stents among people across the globe. The market size is anticipated to grow at a CAGR of 5.6% during the forecast period of 2024-2032 to achieve a value of USD 16 billion by 2032.

Coronary Stents: Introduction

Coronary stents are the metallic mesh tubes that are used to keep the coronary arteries open followed by an angioplasty, a procedure which is performed to open the narrowed or blocked blood vessels responsible for the blood supply by removing plaque build-up. This plaque usually accumulates fat and cholesterol inside the artery wall. These blocked vessels are usually referred to as coronary arteries.

Global Coronary Stents Market Analysis

The market growth is driven by the increased prevalence of cardiovascular disease (CVD) and the increase in the number of angioplasties. CVD remains the leading cause of mortality for men and women worldwide. Each year around 60 million people across the world develop heart or circulatory disease.

The coronary stents market growth is further driven by factors such as approvals by the U.S. Food and Drug Administration (FDA) for new equipment with substantial potential to treat the condition effectively and reduce the burden globally. For example, the BioFreedom Drug Coated Coronary Stent (DCS) System – P190020 (drug eluting stent) from Biosensors International, received FDA approval this year. The BioFreedom Drug Coated Coronary Stent System is targeted to treat coronary arteries caused by coronary artery disease. Coronary arteries are blood vessels that have been narrowed due to the accumulation of plaque in the inside of the arteries. The approval of such innovative equipment increases the demand for innovations in the market and facilitates the healthcare provider to perform angioplasty procedures with ease, further bolstering the global coronary stents market demand.

The market growth is further attributed to the mergers and acquisitions by market key players exemplified by the acquisition of Taewoong Medical, South Korean stent maker by Olympus, Japanese medical device maker for about USD 370 million as their second biggest acquisition of all times. Such acquisitions mark an achievement in Olympus’s portfolio as they will now be expected to have access to the sources of Taewoong Medical which is expected to boost the market growth further.

Global Coronary Stents Market Segmentations

Market Breakup by Type

• Bare Metal Stents

• Drug Eluting Stents

• Bioresorbable Vascular Scaffold

Market Breakup by End User

• Hospitals

• Eye Clinics

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Global Coronary Stents Market Overview

The market is significantly driven by the increasing prevalence of coronary heart disease globally. The increasing prevalence of coronary heart disease is contributing to the increased incidence of angioplasties in the market as well. Furthermore, the market's key players are focused on developing technologically advanced stents to treat the medical condition with minimally invasive procedures. The increasing preference of people for minimally invasive procedures is a major factor contributing to the global coronary stents market share.

Geographically, North America has been leading the market growth and is expected to lead in the forecast period. The market is further driven by the increased prevalence as according to the Centers for Disease Control and Prevention, Heart Diseases claim a death every 33 seconds in the United States. The market is further driven by the strategic initiatives by the governments in spreading awareness about coronary artery and heart diseases.

Global Coronary Stents Market: Competitor Landscape

The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

• Abbott

• Medtronic Plc

• Boston Scientific Corporation

• Terumo Corporation

• B Braun Melsungen AG

• Biotronik

• Stentys SA

• C. R. Bard, Inc.

• Metabiomics

• MicroPort Scientific Corporation

Please note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Highlights of the Report