Global Stents Market Report and Forecast 2024-2032

Global Stents Market Outlook

The global stents market size was valued at USD 12.5 billion in 2023, driven by rising prevalence of cardiovascular diseases across the globe. The market is expected to grow at a CAGR of 5.6% during the forecast period of 2024-2032, with the values likely to reach USD 20.4 billion by 2032.

Global Stents Market Overview

A stent is a small, expandable tube that a doctor inserts into a blocked passageway to keep it open. Stents are made of either metal or plastic and are often used to treat narrowed coronary arteries that provide the heart with oxygen-rich blood. Stents can help relieve blockages and treat narrow or weakened arteries. Stents are inserted during an angioplasty procedure.

The market demand for stents is based on the growing focus on patient-centric approaches in stent design and development such as stents designed for improved patient comfort, reduced complications, and enhancing long-term outcomes. This shift towards patient-centered care aligns with the emphasis on delivering more personalized and effective treatments while boosting the market.

Rising Burden of Cardiovascular Diseases to be the Primary Driver

The stents market demand is driven by the increasing incidence of cardiovascular diseases. More than half of the world’s population is affected by cardiovascular diseases with the mortalities expected to reach 121 million deaths in the forecast period. Around 4 in every 5 cardiovascular deaths occur in low- and middle-income countries, out of which around 80% of premature heart attacks and strokes can be prevented. The growing prevalence of cardiovascular diseases can be attributed to increased tobacco and alcohol consumption, sedentary lifestyle, and high obesity rates.

New Product Launches to Propel the Growth of the Market

Industry leaders are continuously developing and introducing new stent technologies that offer enhanced performance, improved deliverability, and better patient outcomes. These innovations are reshaping the landscape of cardiovascular care by providing more effective solutions for complex cases and further escalating the global stents market growth. In December 2023, Terumo India launched Ultimaster Nagomi™, a Drug-Eluting Stent intended to treat the rising cases of coronary heart disease in the region. The latest design is expected to facilitate better access to complex arteries with an optimal design, expanded size ranges and improved overexpansion capabilities.

Surge in Merger and Acquisition Activity to Aid the Market Development

A surge in the global stents market share is driven by the increasing number of mergers and acquisitions among prominent players in the industry. For instance, in February 2023, Olympus Corporation acquired Korea based Taewoong Medical Co., Ltd to strengthen their GI EndoTherapy product portfolio. The acquisition was valued at USD 114.5 million, offering comprehensive solutions to improve patient outcomes. A leader in GI stents, Taewoong Medical offers a diverse range of metallic stents for biliary tract, esophagus, colon, and duodenum treatments. The agreement will help Olympus build a full portfolio of clinically differentiated techniques.

Innovation in Design and Material to Drive the Market Growth

In May 2023, Shockwave Medical, Inc., launched their latest Shockwave C2+ coronary intravascular lithotripsy (IVL) catheter for the treatment of severely calcified de novo coronary arteries. The new technology is revolutionizing stent effectiveness, particularly for severe and life-threatening coronary artery blockages by employing sonic waves to disintegrate hard, calcified plaque within arteries, presenting a promising avenue for enhancing patient outcomes.

The stents market size is also witnessing a wave of innovation with the introduction of new products by key industry players. For example, Medtronic's launch of the Onyx Frontier™ drug-eluting stent, following CE Mark approval, showcases this trend. The Onyx Frontier DES offers improved deliverability and acute performance, building upon the success of its predecessor, the Resolute Onyx™ drug-eluting stent. Such product launches contribute to the continuous advancement of cardiovascular care, further fostering the market growth.

Global Stents Market Segmentation

Market Breakup by Product Type

• Coronary Stents
  • Drug-Eluting Stents (DES)
  • Bare-Metal Coronary Stents
  • Bioabsorbable Stents

• Peripheral Stents
  • Iliac Stent
  • Femoral-Popliteal Stents
  • Renal and Related Stents
  • Carotid Stents

• Neurovascular Stents

• Stent-Related Implants
  • Synthetic Grafts
  • Vena Cava Filters

Market Breakup by Type

• Self-Expandable Stents

• Balloon-Expandable Stents

Market Breakup by Material

• Metallic Stents

• Polymer Stents

• Bioresorbable Stents

• Others

Market Breakup by End User

• Hospitals

• Ambulatory Surgical Centers

• Others

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Global Stents Market Regional Analysis

The United States is expected to lead the global market owing to the presence of a robust healthcare infrastructure and the presence of key healthcare companies along with research institutions. The rising prevalence of cardiovascular diseases due to dynamic lifestyle changes can be attributed as a major factor for the market share. Regulatory advancements and approvals are influencing stents market growth in the region. Regulatory agencies are continuously evaluating and approving new stent technologies, ensuring their safety and efficacy. These approvals open new opportunities for stent manufacturers to introduce their products to a wider market. Moreover, there has been a notable upswing in merger and acquisition activity among key leaders, which is expected to boost the stents market positively in upcoming years.

Global Stents Market: Competitor Landscape

In February 2023, Abbott acquired Cardiovascular Systems, Inc. to expand their vascular devices portfolio and offer improved solutions for peripheral and coronary heart diseases. The acquisition is expected to cost around USD 890 million, with a vision to leverage Cardiovascular Systems’ pioneering atherectomy system to facilitate more tools to physicians. Such trends aim to benefit from the expertise of different companies to develop comprehensive solutions and expand the market. These partnerships enhance the capabilities of stent manufacturers, resulting in the availability of a wider range of options for healthcare providers and patients.

The key features of the stents 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:

• Boston Scientific Corporation

• BD

• Medtronic

• Abbott

• Cook Medical

• Merit Medical Systems

• Novatech SA

• Terumo Corporation

• MicroPort Scientific Corporation

• Fuji Systems Corp.

• MICRO-TECH EUROPE

• Vascular Concepts

• Olympus Corporation

• W. L. Gore & Associates Inc.

• B. Braun Melsungen AG

Kindly 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