Stents Market to Surpass Revenue of $18.09 Billion by 2028 | Over 650,000 Coronary Stents Placed in 2021

Global stents market was valued at USD 12.36 billion in 2021, and it is expected to reach a value of USD 18.09 billion by 2028, at a CAGR of 5.6% over the forecast period (2022-2028).

Westford,USA, Oct. 13, 2022 (GLOBE NEWSWIRE) -- Global stents Market is a promising and developing with immense opportunities. SkyQuest has conducted an analysis of the stents market, covering the market size, growth drivers, challenges, segments, and major players. Our analysis shows that the market is growing rapidly due to the increasing prevalence of cardiovascular diseases, rising geriatric population, and technological advancements in stent devices. However, the high cost of treatment and stringent government regulations are some of the key challenges faced by the industry participants.

The aging population is one of the key drivers of the growing demand for stents market. As people age, they are more likely to develop cardiovascular diseases, such as coronary heart disease, which can lead to blockages in the arteries. Stents can be used to treat these blockages and improve blood flow. The rising incidence of cardiovascular diseases is another key driver of the growing demand for stents. Cardiovascular diseases are the leading cause of death globally, accounting for 17.3 million deaths per year. The increasing prevalence of these diseases is driving up the demand for stents and other medical devices used in their treatment.

There are a number of different types of stents available on the stents market, including drug-eluting stents, bare metal stents, and bioresorbable scaffold stents. Drug-eluting stents are the most commonly used type of stent, due to their efficacy in preventing restenosis, which is the reoccurrence of narrowing of the arteries. Bare metal stents are typically used in patients who cannot tolerate drugs or in whom drugs are contraindicated. Bioresorbable scaffold stents are made from materials that dissolve over time, leaving no permanent implant behind. These types of stents are still under investigation and are not yet widely available.

The increased demand for stents market has led to a corresponding increase in the number of stent manufacturers. There are now many different types and sizes of stents available on the market. This variety allows clinicians to choose the best stent for each individual patient. The growing demand for stents is reflected in the increasing number of procedures being performed each year. In the United States, over one million procedures involving stents are performed each year. This number is expected to continue to grow as more patients receive treatment with stents.

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The increased demand for stents has also led to improvements in stent technology. Stents are now available with a variety of features that improve their performance and safety. These features include improved coating materials, better design, and enhanced manufacturing processes.

Development of Innovative Stents to Remain Top Priorities of Market Players

There is no doubt that the development of innovative stents is a key priority for players in the global stents market. The ever-growing demand for better and more effective treatments for cardiovascular diseases means that there is a constant need for new and improved stents. With the ever-increasing competition in the market, companies are under pressure to invest heavily in research and development in order to stay ahead of the curve.

Innovative stents are playing an increasingly important role in the treatment of cardiovascular disease. They offer a number of advantages over traditional stents, including improved efficacy, safety and patient outcomes. As such, they are becoming an increasingly popular choice for both patients and doctors alike.

With the support of major market players, R&D into innovative stents is gathering pace in the global stents market. A number of different approaches are being taken in order to develop the next generation of stents, with a focus on improving upon existing designs as well as developing completely new concepts.

The heavy investment being made by market players into R&D is testament to the importance of innovative stents in the current landscape. With competition intensifying and the need for better treatments continuing to grow, it is clear that these products will play a vital role in the future of cardiovascular care.

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Coronary Stents to Generate Revenue of More than $13 Billion by 2028

The number of coronary stent procedures performed in the global stents market is projected to grow at a CAGR of 3.8% and generate a revenue of $13.0 billion by 2028, according to a report by SkyQuest. As per our findings, over 650,000 stents placed in 2021, and it was over 590,000 in 2020.

The rising incidence of cardiovascular diseases is one of the major factors driving the growth of the coronary stents market. According to the World Health Organization, cardiovascular diseases (CVDs) resulted in approximately 17.3 million deaths globally in 2021, making it the leading cause of death worldwide. In addition, CVDs accounted for 31% of all deaths globally in 2013, and this number is expected to increase to about 23.6 million by 2040. The increasing prevalence of obesity and diabetes is also fueling the demand for coronary stents as these conditions are risk factors for CVDs.

This major factors behind expansion of the global stents market will be primarily driven by the ever-increasing prevalence of cardiovascular disease (CVD) and improving patient accessibility to stenting procedures through the continued development of new and innovative delivery systems. In particular, the introduction of bioresorbable scaffolds (BRS), which are slowly absorbed by the body over time, is projected to have a significant impact on market growth as they offer superior clinical outcomes compared to traditional metallic stents.

While the overall number of stenting procedures is expected to grow steadily in the coming years, procedure volume will vary significantly by geography in the global stents market.

In general, North America and Europe stents market are well established and are projected to experience modest growth as a result of decreasing rates of CVD and saturation of the stenting market. In contrast, high-growth markets such as Brazil, China, India, Japan, and Mexico are expected to experience much more rapid expansion as a result of increasing awareness of CVD and improving access to care.

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Prominent Players in Global Stents Market

  • Abbott Laboratories
  • B. Braun Melsungen AG
  • Becton, Dickinson and Company
  • Biotronik SE & Co. KG
  • Boston Scientific Corporation
  • Cook Medical Inc.
  • Elixir Medical Corporation
  • Medtronic Plc
  • MicroPort Scientific Corporation
  • Reva Medical, Inc.
  • Terumo Corporation

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