Coronary Stents Market Growth & Trends
The global coronary stents market size is expected to reach USD 12.1 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 3.3% from 2022 to 2030. Increasing adoption of minimally invasive surgeries and Percutaneous Coronary Intervention (PCI) procedures is expected to drive the market in the coming years. For instance, according to The Korean Journal of Thoracic and Cardiovascular Surgery, the proportion of PCI for Coronary Artery Disease (CAD) was 78% in 2016, and the country-specific PCI proportion was 96%, which was significantly higher than the global average. As a result, the unprecedented growth in CAD incidence, along with an increase in the proportion of PCIs done in these CAD patients, is expected to raise demand for an effective coronary stent technology.
Technological advancement and the launch of 2nd generation drug-eluting stents are further fueling the growth. For instance, Abbott Laboratories Laboratories' XIENCE Sierra became the first DES approved for CTO indications in the US in May 2018. Medtronic followed suit in early 2019, obtaining FDA approval for the use of its Resolute range of DES in CTO indications. In addition, many companies have recently launched newer versions of their coronary stent systems in the US, notably Boston Scientific's Synergy Megatron in January 2021 and Abbott Laboratories Laboratories' XIENCE Skypoint in June 2021.
The global COVID-19 pandemic has had a negative impact on the market for coronary stents. According to guidelines from physician societies throughout the world, procedure deferrals primarily impacted less urgent or elective procedures for eligible patients. ACC's ((American College of Cardiology) 2020 guidance, for instance, recommended postponing non-urgent procedures like CTO interventions and surveillance angiography during the peak of the COVID-19 pandemic. These guidelines have influenced physicians' treatment decisions throughout the world. Additionally, according to the European Society of Cardiology recommendations, all emergency and urgent PCI procedures (treatment of STEMI, high or intermediate risk NSTEMI, cardiogenic shock, and unstable angina) should be continued during the peak of the pandemic and in the subsequent resurgence of COVID-19, while only elective PCI procedures (CTO interventions or treatment of NYHA II symptoms) should be deferred.
Moreover, recovery of the coronary stent market from the COVID-19 pandemic is anticipated to be aided by the continuous performance of urgent PCI procedures and an increase in capacity utilization for performing non-elective procedures.
The coronary stent market is driven by reimbursement coverage provided by the general public Center for Medicare & Medicaid Services (CMS) and private payers. The coverage is availed under national coverage determination for carotid artery stenting, including products and service providers. From January 2020, the Centers for Medicare & Medicaid Services (CMS) proposed reimbursement for some angioplasty and stenting procedures performed in the ambulatory surgical centers (ASC), which is expected to boost the market revenue over the forecast period.
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Coronary Stents Market Report Highlights
- Overall PCI procedure volumes treated with coronary stent devices will rise as the aging population and the PCI-eligible patient population grows, owing to new technologies and increased ability to treat severe lesions
- Prices for the first-generation BVS (Bioresorbable Vascular Scaffold) are much high as compared to existing BMS (Bare Metal Stent) and DES (Drug-Eluting Stents). Due to its safety concern and high hospitalization rates, doctors are not preferring BRS over DES
- Favorable clinical trials have demonstrated that DES is better than standard BMS. As a result, in 2021, DES has dominated the market
- Over the forecast period, Asia Pacific is expected to see the highest growth. The market will further increase in the coming years as disposable income rises and the prevalence of heart disease rises
- Furthermore, in cost-constrained nations like India and China, growing government investment in healthcare and new attempts to bring in equipment at cheap rates are also influencing this market
- In June 2020, SMT received nationwide reimbursement for Supraflex Cruz Heart Stent in France to treat individuals with a coronary heart disorder
Access Press Release@ https://www.grandviewresearch.com/press-release/global-coronary-stent-industry
Coronary Stents Market Segmentation
Grand View Research has segmented the global coronary stents market report based on product and region:
Coronary Stents Product Outlook (Revenue, USD Million, 2017 - 2030)
- Bare Metal Stents (BMS)
- Drug-Eluting Stents (DES)
- Biodegradable
- Non-Biodegradable
- Bioresorbable Vascular Scaffold (BVS)
Coronary Stents Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
- US.
- Canada
- Europe
- UK.
- Germany
- France
- Italy
- Spain
- Asia Pacific
- Japan
- China
- India
- South Korea
- Australia
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
Some of the Key Players in the Coronary Stents Market
- Abbott
- Medtronic
- Boston Scientific Corporation
- Terumo Corporation
- B Braun Melsungen AG
- Biotronik
- Stentys SA
- MicroPort Scientific Corporation
- R. Bard, Inc.
- Cook Medical
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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