According to the report, the global coronary stents market was valued at US$ 10.1 Bn in 2020 and is projected to expand at a CAGR of 12.9% from 2021 to 2028. Coronary stents (CS) are expandable tubular metallic devices inserted into clogged coronary arteries caused by an underlying atherosclerosis disease. Percutaneous coronary intervention (PCI) or coronary angioplasty with stent placement is the name given to this revascularization procedure.
Coronary stents are typically made of metal mesh and are inserted into arteries following a procedure to expand the artery known as percutaneous coronary intervention or angioplasty. Stents are typically used when plaque obstructs a blood vessel. Plaque is composed of cholesterol and other substances that adhere to the inner walls of a vessel. A stent may be required during an emergency procedure. If a coronary artery that runs through the heart becomes blocked, an emergency procedure is more likely.
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Rise in Demand for Coronary Stents Drives Market
The demand for stents to treat diseases of the heart and blood vessels in elderly and middle-aged patients is increasing. The future of stents appears to be very bright, owing to the current shift in the demographic structure caused by an aging society. The usage of a stent designed to prevent acute vascular occlusion and restenosis, which is a side effect of conventional balloon angioplasty, has gained popularity because it can prevent acute complications and improve clinical outcomes.
Heart disease is the leading cause of death among people aged 60 & above across the world, and the number of people with heart disease is rising. Hence, demand for medical devices to treat heart disease is expected to rise during the forecast period.
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Drug Eluting Stent to be Highly Lucrative Segment
In terms of product type, the global coronary stents market has been classified into bare metal stents, drug eluting stents, and bio-absorbable stents. The drug eluting stent segment accounted for a major market share in 2020. Improvements in design and conformation of metallic or resorbable structures with an adequate balance of trackability and radial force, development of antiproliferative drugs & polymers to control release and allow adequate endothelialisation, and the optimal duration of the antiplatelet regimen have resulted in advancements.
North America to Dominate Global Market
In terms of region, the global coronary stents market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to be a highly lucrative market for coronary stents during the forecast period.
The region accounted for the largest market share in 2020, due to dominance of top companies in the global market. Moreover, increase in geriatric population, rise in prevalence of heart diseases, technological advancements, and favorable reimbursement scenario fuel the growth of the coronary stent market in North America.
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According to the American College of Cardiology (2017), cardiovascular diseases accounted for 800,000 deaths in the U.S. The market in North America is driven by an expanding patient pool.
The global coronary stents market is fragmented in terms of number of players. Key players in the global market include Abbott Laboratories, Inc., Boston Scientific Corporation, Medtronic, Inc., Johnson & Johnson, Terumo Corporation, B. Braun Melsungen AG, C. R. Bard, Inc., Cook Medical, Inc., AMG International GmbH, Biotronik SE & Co. KG, Stentys SA, and MicroPort Scientific Corporation.
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