Coronary Stents Market To Witness Massive Growth

Posted 2024-10-18 07:03:03

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Coronary Stents Industry

The global coronary stents market was valued at approximately USD 9.32 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 3.1% from 2023 to 2030. This growth is primarily driven by the increasing aging population and the rising prevalence of non-communicable diseases, particularly cardiovascular diseases (CVDs), complex lesions, diabetes, and obesity. According to the World Health Organization (WHO), cardiovascular diseases were among the leading causes of mortality worldwide in 2019, with ischemic heart disease (IHD) being the most prevalent form. In that year alone, an estimated 17.9 million people lost their lives to CVDs, accounting for 32% of all global deaths.

Research published by the National Library of Medicine in June 2021 highlights that coronary artery disease (CAD), a type of cardiovascular disease, results in approximately 610,000 fatalities annually, which translates to about 1 in 4 deaths in the U.S. This alarming increase in CAD cases is expected to significantly drive the demand for effective coronary stent devices used in treatment. Given that coronary stents are integral to most Percutaneous Coronary Intervention (PCI) procedures, the growing incidence of CAD is anticipated to further enhance the demand for these devices throughout the forecast period.

Gather more insights about the market drivers, restrains and growth of the Coronary Stents Market

Product Insights

The Drug-Eluting Stents (DES) segment dominated the coronary stents market, capturing a significant revenue share of 66.5% in 2022. This dominance is bolstered by ongoing advancements and the introduction of new devices, reinforcing DES's status as the preferred choice for Percutaneous Coronary Intervention (PCI) procedures.

Market competitors are actively developing and launching technologically advanced DES. Notable recent launches include Abbott Laboratories' XIENCE Skypoint, Medtronic's Resolute Onyx, and Boston Scientific's Synergy. Compared to previous-generation devices, these newer DES offer enhanced stent integrity, improved deliverability, and reduced complication rates.

According to the National Library of Medicine (NLM) in February 2023, drug-eluting stents (DES) have demonstrated higher effectiveness when compared to bare metal stents. Continuous improvements in stent platform design aim to maximize both efficacy and safety, particularly in addressing the treatment of more complex lesions and challenging patient cases.

Ongoing DES development includes the use of novel scaffold materials, innovative design types, enhanced overexpansion capabilities, new polymer coatings, and improved antiproliferative agents to enhance their performance.

The bioresorbable vascular scaffold segment is anticipated to be the second fastest-growing segment in the market. This is due to several advantages it offers in treating coronary artery disease, such as temporary placement within the patient's heart, which facilitates easier future treatments as it degrades over three years and eventually dissolves completely in the body.

According to CDC analysis, coronary heart disease is the most prevalent type of heart disease in the U.S., claiming 375,476 lives in 2021. Such statistics are expected to drive growth in the bioresorbable vascular scaffold segment over the forecast period.

The bare metal stents (BMS) segment is projected to experience steady growth in the coming years. However, increased competition from bioresorbable scaffolds (BRS) and DES has made BMS less appealing to manufacturers due to low technological barriers to entry and clinical evidence highlighting BMS's inferiority compared to DES.

Despite these challenges, BMS stents maintained their presence in the market in 2022, primarily due to their lower device costs, which continue to attract certain segments of the market.

Order a free sample PDF of the Coronary Stents Market Intelligence Study, published by Grand View Research.

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