Global Stents Market Sie/Share to Reach USD 10.4 Billion by 2028 at a 3.80% CAGR: Markets N Research (Analysis, Price, Report, Trends, Forecast, Segmentation, Growth Rate, Value)

The global stents market size was valued at USD 8.3 billion in 2021. The market is projected to grow from USD 8.3 billion in 2021 to USD 10.4 billion by 2028, exhibiting a CAGR of 3.80% during the forecast period.

Chicago, Dec. 12, 2022 (GLOBE NEWSWIRE) -- The global stents market is expected to exhibit strong growth, reaching USD 10.4 billion by 2028. As per the report titled "Stents Market Size, Share & COVID-19 Impact Analysis, By Product (Coronary Stents, Drug-Eluting Stents (DES), Bare-Metal Coronary Stents, Bioabsorbable Stents, Peripheral Stents, Iliac Stent, Femoral-Popliteal Stents, Renal & Related Stents, Carotid Stents, Stent Related Implant, Synthetic Grafts and Vena Cava Filters), By Material (Metallic Biomaterial, Polymer Biomaterial and Natural Biomaterial), By End User (Hospital, Ambulatory Surgical Centers and Others) and Regional Forecasts, 2022-2028" observes that the market size in 2021 stood at USD 8.3 billion and USD 10.4 billion in 2028. The market is expected to exhibit a CAGR of 3.80% during the forecast period.

Chansu Vascular Technologies and Cardiovascular Systems Inc. have Announced a Cooperation

In February 2021, a partnership between Cardiovascular Systems Inc. and Chansu Vascular Technologies, LLC was announced to create peripheral and coronary drug-coated balloons for drug-eluting stents.

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Market Overview

A medical device called a stent is inserted into a blocked passageway to keep it open. This medical device is shaped like a tiny tube and is either made of plastic or metal. It helps restore blood flow and other bodily fluids to various organs. Another key factor boosting the stents market is the prevalence of coronary artery disease. The market is growing due to increased demand for minimally invasive surgery due to benefits like quick recovery and reduced pain. Additionally, the market is further influenced by the increase in funding from both public and private organizations for the growth of the healthcare industry.

Growth Factor

Bioresorbable Vascular Scaffold (BVS) Development to Boost the Market Growth

Traditional stents made of metal mesh are permanently retained in the body unless surgically removed, but bioresorbable vascular scaffolds degrade over time and completely disappear. Additionally, the risk of restenosis associated with using metallic and drug-eluting stents has increased the need for bioabsorbable stents, driving the market. In contrast to drug-eluting stents, BVS drug elution prevents non-intimal proliferation, and complete bio-resorption is consistent with late vessel lumen enlargement, plaque regression, and vasomotion. As a result, BVS is expected to spur market growth.

Lack of Advanced Surgical Technology and Qualified Medical Personnel Limit the Market Growth

For the PCI approach to be successful, competent surgeons are needed to implant the stent where it is needed. To transfer the stent to the target site, additional sophisticated tools are needed, including atherectomy tools, fractional flow reserves, intravascular ultrasound, optical coherence tomography (OCT) imaging, and near-infrared spectroscopy (NIRS). Therefore, qualified medical personnel is needed to operate the machinery and carry out the operation. The market expansion will be hampered by the undersupply of such equipment and skilled labor in developing and underdeveloped nations.

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List of Key Players Profiled in the Stents Market Report

  • Medtronic, BD
  • Boston Scientific Corporation
  • Abbott.
  • Cardinal Health
  • Elixir Medical Corporation
  • Terumo Corporation
  • Biosensors International Group, Ltd
  • Meril Life Sciences Pvt. Ltd.
  • Others

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Major Players Develop Acquisition Plans to Boost Brand Image

The leading businesses in the stents market plan acquisitions to improve their brand recognition globally. For instance, in September 2019, Terumo announced the release of a brand-new radial to periphery self-expanding stent. For above-the-knee PAD interventions, this stent is specially made. A technology known as Rapid Exchange (RX) is used in it.

Notable Industry Development

  • July 2020: The next-generation cobalt-chromium lilac stent from Biotronik is thinner, stronger, and more flexible than the industry's top competitors.

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Report Scope and Segmentation

Report CoverageDetails
Forecast Period2022-2028
Forecast Period 2021 to 2028 CAGR3.80 %
2028 Value Projection10.4 billion
Base Year2021
Market Size in 20218.3 billion
Historical Data for2018 - 2021
Segments coveredBy Product, By Material, By End User and By Geography
Regional ScopeNorth America, Europe, Asia Pacific, Middle East & Africa, and South & Central America

Segmentation of Global Stents Market

Global Stents Market – By Product

  • Coronary Stents
  • Drug-Eluting Stents (DES)
  • Bare-Metal Coronary Stents
  • Bioabsorbable Stents
  • Peripheral Stents
  • Iliac Stent
  • Femoral-Popliteal Stents
  • Renal & Related Stents
  • Carotid Stents
  • Stent Related Implants
  • Synthetic Grafts
  • Vena Cava Filters

Global Stents Market – By Material

  • Metallic Biomaterial 
  • Polymer Biomaterial 
  • Natural Biomaterial

Global Stents Market – By End User

  • Hospital 
  • Ambulatory Surgical Centers 
  • Others

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Regional Overview

North America is projected to hold the largest share of the stents market over the forecast period due to an increase in the number of older individuals and the frequency of cardiovascular disease. For instance, 54.1 million Americans aged 65 and over were living in the United States as of 2019, according to the Administration of Community Living. The risk of CVD and many other related health conditions, including coronary heart disease and angioplasty, rises with age. Therefore, it is anticipated that using stents for these illnesses will accelerate market expansion.

Further Report Findings

  • The market in North America is expected to gain a huge portion of the global stents market share in the coming years. An aging population, improved healthcare facilities, an increase in the prevalence of cardiac ailments, and advantageous reimbursement situations are driving market expansion in the region.
  • Opening specialized clinics and greater funding for coronary stent advancements are helping to expand the market in the United States.
  • In Asia Pacific, the growth in this region is primarily driven by the expansion of stent use and the number of stent implantation procedures. This rapid growth rate is due to rising public and private health spending.

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