Coronary Stents Market Forecast: CAGR of 12.9% from 2021 to 2028, Reaching US$ 25.7 Billion
The global coronary stents market is projected to experience significant growth, reaching a value of US$ 25.7 billion by the end of 2028, according to a new report by Transparency Market Research. The market was valued at US$ 10.1 billion in 2020 and is estimated to expand at a CAGR of 12.9% from 2021 to 2028.
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The rising prevalence of cardiovascular diseases (CVDs) globally, coupled with the increasing demand for coronary stents from the healthcare industry, is driving the market growth. Coronary stents, including bare metal stents, drug eluting stents, and bio-absorbable stents, are being increasingly utilized in percutaneous coronary intervention (PCI) procedures to treat coronary artery diseases.
However, the market faces challenges such as the high cost of coronary stents, lack of reimbursement policies in some regions, and complications like in-stent restenosis or thrombosis. Stringent regulatory approvals for coronary stents are also expected to hamper market growth.
The drug eluting stent segment is anticipated to be highly lucrative, accounting for a major market share in the upcoming years. Advancements in coronary stent technology, including the development of new materials and technologies, are expected to drive market growth.
North America is expected to dominate the global coronary stents market, followed by Europe and Asia Pacific nations such as Japan and China. The high prevalence of CVDs, a growing geriatric population, and the adoption of advanced technologies are major factors driving the market in these regions.
Key players in the global coronary stents market include Abbott Laboratories Inc., Boston Scientific Corporation, Medtronic Inc., Johnson & Johnson, and others. These companies are focusing on research and development, regulatory approvals, and the launch of new products to fuel market growth.
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