Hyderabad, Aug. 02, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Coronary Stents Market Report (2023-2028)," the market is estimated at USD 7.11 billion in 2023. It is expected to register a CAGR of 4.25% during the forecast period.
Coronary stents are small tubes used to treat blocked coronary arteries, reducing chest pain and aiding heart attack treatment through a technique called percutaneous coronary intervention (PCI) or angioplasty. The market is being driven by new product developments, approvals, and the rising incidence of coronary artery diseases. The growing geriatric population, advancements in stent technology, and product launches are projected to drive the growth of the market in the coming years. However, product recalls and strict regulatory approval processes might pose challenges.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 7.11 billion |
| Market Size (2028) | USD 8.76 billion |
| CAGR (2023-2028) | 4.25% |
| Study Period | 2018-2028 |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | New product developments and approvals. |
| Rising incidence of coronary artery diseases. |
Who are the Top Companies in the Global Coronary Stents Market?
The market is moderately fragmented. There are several significant players who make the market reasonably competitive. Existing and emerging companies are focused on new developments and advancements in coronary stent technology.
The significant players in the global coronary stents market are,
- Abbott Laboratories
- B. Braun Melsungen AG
- Biosensors International Group Ltd
- BIOTRONIK SE & Co. KG
- Boston Scientific Corporation
- Cook Group
- Medtronic PLC
- Terumo Corporation
- Translumina GmbH
- Sahajanand Medical Technologies Limited
- Lepu Medical Technology (Beijing) Co. Ltd
- Bilakhia Holdings Pvt Ltd (Meril Life Sciences)
Other Reports That Might Be of Your Interest:
- Abdominal Stent Graft System Market Report - The abdominal stent graft system market is expected to register a CAGR of 4.1% over the next five years.
- Coronary Artery Bypass Grafting Market Report - The coronary artery bypass grafting (CABG) Market is poised to register a CAGR of 7.8% over the next five years.
Key Highlights from the Global Coronary Stents Market Report:
Growth Opportunities in Drug-Eluting Stent Segment
- Drug-eluting stents deliver antiproliferative drugs to prevent excessive neointima growth after stent implantation. These stents consist of an antirestenotic drug embedded in the polymer, which is released gradually after implantation.
- Growing elderly and diabetic populations increase the risk of coronary heart disease, driving the demand for drug-eluting stents. Drug-eluting stents have a lower risk of target vessel revascularization, making them preferable for percutaneous coronary intervention.
Asia-Pacific Region to Witness Significant Growth
- Cardiovascular disease is prevalent in densely populated countries like China and India, which is expected to boost the growth of the coronary stent market.
- The growing elderly populations and new product developments are also positively influencing the market.
- Japan is witnessing the launch of new products and partnerships by the market players to make use of the full potential for growth in the region.
What are the Latest Developments in the Global Coronary Stents Market?
- In August 2022, Medtronic launched the Onyx Frontier drug-eluting stent in Europe.
- In April 2022, Transluminal introduced the VIVO ISAR, a new dual drug polymer-free coated stent (DDCS).
Mordor Intelligence has Segmented the Global Coronary Stents Market Based on Product Type, Biomaterial, End User, and Geography.
- By Product Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Drug Eluting Stent
- Bare Metal Coronary Stent
- Bioabsorbable Stent
- By Biomaterial (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Metallic Biomaterial
- Polymeric Biomaterial
- Natural Biomaterial
- By End User (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Hospitals
- Ambulatory Surgical Centers
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
- South America
- Brazil
- Argentina
- Rest of South America
- North America
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Global Coronary Stents Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
- Coronary Artery Disease Therapeutics Market Report - The coronary artery disease therapeutics market is expected to register a CAGR of 7.7% over the next five years.
- Lacrimal Duct Stent Tube Market Report - The lacrimal duct stent tube market is anticipated to record a CAGR of 5.2% over the next five years.
- Intracranial Stents Market Report - The intracranial stents market is expected to register a CAGR of 7.59% over the next five years.
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
Attachment
