Stents Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 5.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Stents Market Analysis
The stents market is expected to grow from USD 6.20 billion in 2023 to USD 7.98 billion in 2028, registering a CAGR of 5.5% during the forecast period.
The impact of COVID-19 in its initial phase was adverse due to the cancellations of elective procedures, including surgeries worldwide. For instance, according to an article published by BMJ Journals in April 2021, a study was conducted in Europe, which showed that the COVID-19 pandemic significantly impacted the care of patients with cardiac diseases, which impacted the market's growth. However, the market started to gain traction owing to the resumption of surgical procedures worldwide. The number of cardiac surgical procedures and stent implantations is projected to grow during the forecast period, positively impacting the market's growth.
The high burden of heart-related diseases is expected to increase the number of angioplasties, thereby augmenting market growth during the forecast period. In addition, the growing geriatric population and technological advancements in stent development are actively affecting the market's growth.
According to the World Population Prospects 2022, the percentage of the population aged 65 years and older is estimated to be 10% in 2022, and it is expected to reach 16% by 2050. Atrial fibrillation is a major heart rhythm disorder among older people, which leads to coronary stent implantation for treatment. The surge in the geriatric population is projected to propel the market's growth during the forecast period.
Additionally, as per the data of the World Stroke Organization, in 2022, almost 5 million new atrial fibrillation and flutter cases are diagnosed yearly. The prevalence of atrial fibrillation in all ages is expected to reach 60 million in 2022. The high burden of atrial fibrillation will augment the stents market during the forecast period.
The prevalence of chronic illnesses has increased over the decade. According to the AHA, in 2021, peripheral artery disease (PAD) affected more than 200 million people worldwide and was associated with high mortality and morbidity in 2021. With the aging global population, PAD may likely become increasingly common during the forecast period. Statistics show that the number of PAD patients is increasing at a faster pace, which is ultimately driving the market for stents.
Additionally, as per a scientific study published by the AHA in 2021, lower extremity peripheral artery disease (PAD) affected more than 230 million individuals worldwide in 2021, and it is linked to an elevated risk of several unfavorable clinical outcomes (including cardiovascular diseases like coronary heart disease and stroke and limb outcomes like amputee status). Since the treatment of PAD requires stents, the increased incidence of PAD is ultimately projected to boost the stents market during the forecast period.
Furthermore, the advancements in technology and the increasing number of product approvals, partnerships, and acquisitions by key players are helping the market grow. For instance, in March 2022, Cordis received FDA approval for its Smart Radianz Vascular Stent System, a self-expanding stent designed explicitly for radial peripheral procedures. Such technological advancements are projected to boost the utility of stents worldwide for effective underlying treatments.
Therefore, owing to the abovementioned factors, such as the high burden of heart-related diseases, the advancements in technology, and the increasing number of product approvals, partnerships, and acquisitions by key players, the market studied is expected to grow over the forecast period. However, a stringent approval process for stents and high product recalls will likely impede the market's growth.
Stents Market Trends
The Drug-eluting Stents Segment is Expected to Witness Significant Growth During the Forecast period
A drug-eluting stent is a peripheral or coronary stent inserted into clogged, diseased peripheral or coronary arteries, slowly releasing a drug to block cell proliferation.
Due to the increased number of cardiac disorders, there is an increased demand for coronary stents worldwide. According to the data updated by the CDC in October 2022, coronary heart disease was the most common type of heart disease in the United States. The high prevalence of cardiac diseases among the population reaped the demand for stents.
Furthermore, the advantages offered by drug-eluting stents are a major factor driving the segment's growth. For instance, according to an article published by PubMed Central in July 2021, the drug-eluting stent (DES) is considered superior to bare-metal stents as re-stenosis occurs at a lesser rate in DES. This can be due to the longer duration of dual antiplatelet therapy use in DES versus bare-metal-stent.
The advancements in technology, increasing product approvals, and partnerships and acquisitions by key players are driving the segment's growth. For instance, in January 2022, Cook Medical received a breakthrough device designation from the United States FDA on a new drug-eluting stent below the knee (BTK). This novel stent is used to treat individuals with limb-threatening persistent ischemia. Furthermore, in August 2021, Sinomed launched its HT Supreme drug-eluting stent in Ireland. Such launches are projected to augment the segment's growth during the forecast period.
Therefore, due to the factors above, such as the rising prevalence of heart disorders, increasing advantages of drug-eluting stents, advancements in technology, increasing product approvals, and partnerships and acquisitions by key players, the studied segment is expected to experience growth.
North America is Expected to Dominate the Stents Market During the Forecast Period
North America is expected to dominate the market owing to factors such as the rising incidence of chronic diseases, the growing geriatric population, the strong presence of industry players in the region, better healthcare infrastructure, and increased awareness among people and healthcare industry stakeholders about available technologies.
In addition, the rise in the geriatric population and the increase in the incidence of lifestyle diseases are actively affecting the market's growth. For instance, according to the Statistics Canada 2021 census, there were around 7,021,430 people aged 65 years or above in 2021, of which 3,224,680 were males and 3,796,750 were females. The geriatric population is prone to critical cardiovascular diseases that require stents for treatment. Thus, the surge in the geriatric population in the region is likely to augment the market's growth.
The engagement of key market players and institutions in research and development in the region for innovation in the stents used for different conditions is projected to augment the market's growth. For instance, in October 2021, Boston Scientific Corporation presented positive clinical trial results for the Eluvia drug-eluting vascular stent system during a clinical trial presentation at the Vascular InterVentional Advances (VIVA) meeting in Las Vegas. According to the data from the EMINENT trial, the Eluvia stent outperformed self-expanding bare metal stents (BMS) for the treatment of patients with peripheral arterial disease (PAD) and superficial femoral artery (SFA) lesions up to 210 mm in length. The study included 775 patients, making it one of the biggest drug-eluting stent randomized trials for peripheral artery disease treatment to date. Such clinical trials are anticipated to fuel the use of stents in the region.
Therefore, owing to the abovementioned factors, such as the rising geriatric population and engagement of key market players and institutions in research and development in the region for innovation in the stents used for different conditions, the market studied is anticipated to grow in the North American region.
Stents Industry Overview
The stents market is fragmented in nature due to the presence of companies operating globally and regionally. The competitive landscape includes an analysis of a few international and local companies that hold market shares and are well known. Some key market players are Boston Scientific Corporation, Abbott, Medtronic, B. Braun SE, Becton, Dickinson and Company, Microport Scientific Corporation, Biotronik, Cook Group, Allium Medical Solutions Ltd, Elixir Medical, and Terumo Corporation, among others.
Stents Market Leaders
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Boston Scientific Corporation
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Medtronic PLC
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Abbott Laboratories
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Becton Dickinson and Company
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B. Braun SE
*Disclaimer: Major Players sorted in no particular order
Stents Market News
- November 2022: The Union Health Ministry of India announced the inclusion of coronary stents in the National List of Essential Medicines 2022; this was expected to help make these stents more affordable.
- May 2022: Medtronic received the US FDA approval for the Onyx Frontier drug-eluting stent (DES).
- April 2022: Translumina, a producer and manufacturer of cardiovascular medical devices used in interventional cardiology, launched VIVO ISAR, its dual drug polymer-free coated stent (DDCS), in various international markets, including Europe.
Stents Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Prevalence of Chronic Diseases
4.2.2 Increasing Geriatric Population
4.2.3 Technological Advancements in Stent Development
4.3 Market Restraints
4.3.1 Stringent Approval Process for Stents
4.3.2 High Product Recalls
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Buyers/Consumers
4.4.2 Bargaining Power of Suppliers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
5.1 By Product
5.1.1 Coronary Stents
5.1.1.1 Drug-eluting Stents
5.1.1.2 Bare-metal coronary Stents
5.1.1.3 Bioabsorbable Stents
5.1.2 Peripheral stents
5.1.2.1 Iliac Stents
5.1.2.2 Femoral-popliteal Stents
5.1.2.3 Renal and Related Stents
5.1.2.4 Carotid Stents
5.1.3 Stent Implants
5.2 By Material
5.2.1 Metallic biomaterials
5.2.2 Polymeric biomaterials
5.2.3 Natural biomaterials
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle East and Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Boston Scientific Corporation
6.1.2 Abbott
6.1.3 Medtronic
6.1.4 B. Braun SE
6.1.5 Becton, Dickinson and Company
6.1.6 Microport Scientific Corporation
6.1.7 Biotronik
6.1.8 Cook Group
6.1.9 Allium Medical Solutions Ltd
6.1.10 Elixir Medical
6.1.11 Terumo Corporation
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Stents Industry Segmentation
As per the report's scope, a stent is a metal or plastic tube inserted into the lumen of an anatomic vessel or duct to keep the passageway open. The Stents market is segmented by product (coronary stents (drug-eluting stents, bare-metal coronary stents, and bioabsorbable stents), peripheral stents (iliac stents, femoral-popliteal stents, renal and related stents, and carotid stents), and stent implants), material (metallic biomaterials, polymeric biomaterials, and natural biomaterials), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, South America). The report also covers the estimated market sizes and trends for 17 countries across major global regions. The report provides the market sizes and forecasts regarding value in USD.
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Stents Market Research FAQs
What is the current Stents Market size?
The Stents Market is projected to register a CAGR of 5.5% during the forecast period (2024-2029)
Who are the key players in Stents Market?
Boston Scientific Corporation, Medtronic PLC, Abbott Laboratories, Becton Dickinson and Company and B. Braun SE are the major companies operating in the Stents Market.
Which is the fastest growing region in Stents Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Stents Market?
In 2024, the North America accounts for the largest market share in Stents Market.
What years does this Stents Market cover?
The report covers the Stents Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Stents Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Stents Industry Report
Statistics for the 2024 Stents market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Stents analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Stents Market Report Snapshots
