Coronary Stent Market Competitive Analysis 2023
The coronary stent market size was valued at USD 8,923.2 million in 2022 and is poised to grow at a significant CAGR of 3.6% during the forecast period 2023-29. The primary drivers of the expansion of the global coronary stent market include increasing technological advancement, the rising prevalence of heart diseases, the increasing number of PCI procedures, increasing demand for minimally invasive procedures, and the rising geriatric population. The global coronary stent market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region.
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The coronary stent market segmentation:
1) By Product Type: Drug-Eluting Stent, Bioresorbable Stent, Bare Metal Stent, Covered Stent, and Others.
2) By Mode of Delivery: Self-expandable and Balloon-expandable.
3) By End User: Hospitals, Ambulatory Surgical Centers, Specialty Clinics, and Others.
Based on the product type, the global coronary stent market is segmented into drug-eluting stents, bioresorbable stents, bare metal stents, covered stents, and others. The drug-eluting stent segment is expected to account for a larger revenue share in the global coronary stent market, with a value share worldwide. The increasing technological advancement and launch of new devices in this segment are fueling the growth of the global coronary stent market growth. The global key players such as Abbott, Medtronic, Boston Scientific, etc in the market continue to develop and launch new advanced products such as Medtronic's Resolute Onyx, and Boston Scientific's Synergy. Hence, this segment will drive the global coronary stent market growth at a significant rate in the forecasted years.
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North America is expected to increase in the global coronary stent market over the forecast period. North America is expanding in the global coronary stent market as a result of technological advancements, bad lifestyles, the increasing number of smokers, and the increasing number of cardiovascular diseases such as heart attack, stroke, ischemic heart diseases (IHD), etc. The Asia Specific region held considerable market share during the estimated period owing to the economic growth, regulatory updates, and increased government investment in healthcare.
The coronary stent market key players are Abbott, Medtronic, Boston Scientific Corporation, Terumo Corporation, B Braun Melsungen AG, Biotronik, Stentys SA, MicroPort Scientific Corporation, C. R. Bard, Inc., Cook Medical, and Biosensors International Group.
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