Global Coronary Stents Market Research Report: Forecast (2022-27)
By Stent Type (Drug-Eluting Stent (Biodegradable, Non-Biodegradable), Bioresorbable Stent, Bare Metal Stent, Covered Stent), By Biomaterial (Metallic Biomaterial, Polymeric Biomate......rial, Natural Biomaterial), By Deployment (Self-Expandable, Balloon-Expandable), By End-User (Hospitals, Specialty Clinics, Ambulatory Surgical Centers, Others (Cardiac Catheterization Laboratories, etc.)), By Region (North America, Latin America, Europe, Middle East & Africa, Asia-Pacific), By Countries (The US, Canada, Brazil, Mexico, Australia, The UK, Germany, France, Italy, Spain, South Africa, GCC, China, Japan, India, Australia, South East Asia), By Companies (Abbott Laboratories, Inc., AMG International GmbH, Biotronik SE & Co. KG, Boston Scientific Corporation, B. Braun Melsungen AG, Cook Medical, Inc., Medtronic, Inc., MicroPort Scientific Corporation, Stentys SA, Terumo Corporation) Read more
- Healthcare
- May 2022
- Pages 212
- Report Format: PDF, Excel, PPT
Market Definition
As fast as the number of people suffering from coronary arterial diseases is escalating worldwide, the healthcare sector is swiftly developing & introducing new technologies & treatments to address such issues. It is where the application of coronary stents is rising rapidly and gaining traction, especially among the obese & elderly population suffering from heart diseases.
These stents are little expandable metal materials used in percutaneous coronary intervention procedures to implant in the coronary arteries & help in regulating the blood flow in the heart. Besides, as technologies have evolved over the years in the stenting procedures, the possibility of manual errors has reduced immensely. Hence, these procedures are practiced extensively among people globally.
Market Insights
The Global Coronary Stents Market is projected to grow at a CAGR of around 6.9% during the forecast period, i.e., 2022-27. The growth of the market is driven primarily by the mounting demand for coronary stents to treat several cardiovascular diseases among the exponentially growing aging & obese population suffering from heart diseases & hypertension with high cholesterol levels. As people with such health conditions are more likely to face health problems, the healthcare sector is undergoing rapid research & developments to bring innovative treatments like the application of coronary stents to curb these issues.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2017-20 |
| Base Year: 2021 | |
| Forecast Period: 2022-27 | |
| CAGR (2022-2027) | 6.9% |
| Regions Covered | North America: USA, Canada |
| Europe: Germany, France, Italy, UK, Russia | |
| Asia-Pacific: China, India, Japan, South Korea, Australia | |
| South America: Brazil | |
| Middle East & Africa: Saudi Arabia, Israel, Turkey | |
| Key Companies Profiled | Abbott Laboratories, Inc., AMG International GmbH, Biotronik SE & Co. KG, Boston Scientific Corporation, B. Braun Melsungen AG, Cook Medical, Inc., Medtronic, Inc., MicroPort Scientific Corporation, Stentys SA, Terumo Corporation |
| Unit Denominations | USD Million/Billion |
According to various surveys, the number of people suffering from obesity is escalating dramatically. It is a condition where the body begins to accumulate abnormal amounts of fat in the arteries causing multiple health problems like coronary heart disease. Hence, the demand for coronary stents is gaining traction among people with such conditions.
Besides, changing living standards & eating habits like binge eating, growing stress levels, minimal or no time for exercise, etc., are other prominent reasons behind the growing instances of coronary diseases. It, in turn, is influencing the demand for coronary stents & driving the global market worldwide.
Moreover, since coronary diseases are among the prominent causes of death in people, the need for treatments using coronary stents is escalating swiftly and augmenting the overall market growth. It, in turn, is also generating growth opportunities for the leading players to increase their research & development capabilities to offer greater benefits for the treatment in the long run and stimulate the expansion of the Global Coronary Stents Market through 2027.
Impact of Covid-19 on the Global Coronary Stents Market
The advent of Covid-19 in 2020 introduced massive pressure on the entire healthcare sector and shook several countries throughout the world. While governments imposed stringent movement restrictions & frequent lockdowns to curb the exponential spread of the dreadful disease, countries were focused entirely on managing the healthcare industry and putting everything else on a temporary hold.
As a result, most organizations had to adopt work-from-home policies. While the primary concern was the Covid-19 virus, several research & development activities associated with other health issues like coronary heart issues were suspended and, in turn, introduced growth challenges to the global market.
Besides, due to the growing Covid-19 cases, most healthcare facilities prioritized these patients & addressed the issues of only those with critical conditions. Other patients were counseled over calls & other digital mediums. Consequently, the demand for coronary stents reduced substantially amidst the crisis and brought significant financial losses for the leading market players.
Market Segmentation
Based on Stent Type:
- Drug-Eluting Stent (Biodegradable, Non-Biodegradable)
- Bioresorbable Stent
- Bare Metal Stent
- Covered Stent
Amongst them all, Drug-Eluting stents are anticipated to dominate the Global Coronary Stents Market with the largest share during 2022-27. It attributes principally to the mounting popularity & demand for these stents due to their medicine-coated layer on the metal that helps in reopening the artery & keeping it like that. In addition, with the surging cases of coronary diseases among the aging & obese population, the demand for these stents is escalating swiftly and augmenting the overall market growth.
Besides, these stents are highly beneficial in preventing plaque build-up, relieving chest pain, improving blood flow to the heart, and reducing the chances of a heart attack, i.e., another crucial aspect augmenting the demand for drug-eluting stents and driving the global market.
Based on the Deployment:
- Self-Expandable
- Balloon-Expandable
Here, self-expandable stents are expecting the largest market share during 2022-27, principally due to the rising awareness among patients about the clinically proven efficiency of these stents, i.e., resulting in their growing popularity & demand across both local & regional markets worldwide.
Besides, constant advancements in self-expandable stents & their benefits like feasibility in treating acute myocardial infarction, their ability to keep up with the artery expansion with a quite accurate apposition, etc., are other prominent factors promoting their demand and driving the global market.
Regional Landscape
Geographically, the Global Coronary Stents Market expands across:
- North America
- Latin America
- Europe
- Middle East & Africa
- Asia-Pacific
Amongst all regions globally, North America acquired the largest share in the Coronary Stents Market in previous years, and the same trend is projected over the forecast years. It owes to the burgeoning government focus on expanding the healthcare sector across different countries, i.e., demonstrating massive investments and R&D activities and benefiting the coronary stents market across the region as more emphasis is now on addressing various heart diseases.
Besides, the rising patient pool of obesity is also infusing the need for treatments like coronary stents and, in turn, augmenting the regional market growth. Moreover, the increasing cases of heart diseases among people owing to their changing lifestyles, increased stress levels, & weak immune systems also project remunerative opportunities for the regional market through 2027.
On the other hand, Asia-Pacific is expected to register the fastest market growth over the forecast years, principally due to countries like China & India, the prominent consumers of coronary stents, with massive import business to cater to the burgeoning requirements of healthcare facilities.
Besides, immense government support through substantial investments, clinical trials, and the rapidly expanding healthcare industry are other crucial aspects projected to play a crucial role in accelerating the growth of the Coronary Stents Market across Asia-Pacific in the coming years.
Recent Developments in the Global Coronary Stents Market
- In April 2021, Abbott Laboratories, Inc. launched a coronary imaging platform, Ultreon 1.0 Software, in Europe, i.e., powered by technologies like Artificial Intelligence (AI). The software is built mainly to improve the detection process for calcium-based blockages & measure vessel diameter in the coronary stenting procedures.
Market Dynamics
Key Driver: Rapid & Significant Improvements in Coronary Stents
With the burgeoning demand for coronary stents, the leading players in the industry are conducting rigorous research & development activities to bring innovations in stents like reduced thickness, easy deliveries in torturous vessels, longer lengths, smaller diameters, etc. It would offer greater benefits & minimal side effects to the patients, which, in turn, would play a crucial role in driving the Global Coronary Stents Market during 2022-27.
Possible Restraint: Possible Side Effects & Stringent Government Approvals
While the demand for coronary stents is escalating swiftly across different countries worldwide, the possibilities of side effects like Chest discomfort (angina), tiredness, dizziness, nausea, and weakness, among others, might restrain the growth of the Global Coronary Stents Market during 2022-27. Moreover, stringent norms by governments of some countries to practice coronary stents for heart issues is another aspect that might affect the fledged market growth in the years to come.
Key Questions Answered in the Market Research Report:
- What are the overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares) of the Global Coronary Stents Market?
- What are the region-wise industry size, growth drivers, and challenges?
- What are the key innovations, opportunities, current & future trends, and regulations in the Global Coronary Stents Market?
- Who are the key competitors, their key strengths & weaknesses, and how do they perform in the Global Coronary Stents Market based on the competitive benchmarking matrix?
- What are the key results derived from surveys conducted during the Global Coronary Stents Market study?
Frequently Asked Questions
- Introduction
- Research Process
- Assumption
- Market Segmentation
- Market Definition
- Executive Summary
- Global Coronary Stents Market Trends & Insights
- Global Coronary Stents Market Regulation & Policy, By Country
- Global Coronary Stents Market Dynamics
- Growth Drivers
- Challenges
- Impact Analysis
- Global Coronary Stents Market Hotspot and Opportunities
- Global Coronary Stents Market Outlook, 2017- 2027
- Market Size and Analysis
- By Revenues in USD Million
- Market Share and Analysis
- By Stent Type
- Drug-Eluting Stent
- Biodegradable
- Non-Biodegradable
- Bioresorbable Stent
- Bare Metal Stent
- Covered Stent
- Others
- Drug-Eluting Stent
- By Biomaterial
- Metallic Biomaterial
- Polymeric Biomaterial
- Natural Biomaterial
- By Deployment
- Self-expandable
- Balloon-expandable
- By End-User
- Hospitals
- Specialty Clinics
- Ambulatory Surgical Centers
- Others (Cardiac Catheterization Laboratories, etc.)
- By Region
- North America
- Latin America
- Europe
- Middle East & Africa
- Asia-Pacific
- By Company
- Competition Characteristics
- Revenue Shares
- Competitor Placement in MarkNtel Advisor’s Quadrant
- By Stent Type
- Market Size and Analysis
- North America Coronary Stents Outlook, 2017- 2027
- Market Size and Analysis
- By Revenues in USD Million
- Market Share and Analysis
- By Stent Type
- By Biomaterial
- By Deployment
- By End-User
- By Country
- The US
- Canada
- Market Size and Analysis
- Latin America Coronary Stents Outlook, 2017- 2027
- Market Size and Analysis
- By Revenues in USD Million
- Market Share and Analysis
- By Stent Type
- By Biomaterial
- By Deployment
- By End-User
- By Country
- Brazil
- Mexico
- Rest of Latin America
- Market Size and Analysis
- Europe Coronary Stents Outlook, 2017- 2027
- Market Size and Analysis
- By Revenues in USD Million
- Market Share and Analysis
- By Stent Type
- By Biomaterial
- By Deployment
- By End-User
- By Country
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Market Size and Analysis
- Middle East & Africa Coronary Stents Outlook, 2017- 2027
- Market Size and Analysis
- By Revenues in USD Million
- Market Share and Analysis
- By Stent Type
- By Biomaterial
- By Deployment
- By End-User
- By Country
- South Africa
- GCC
- Rest of Middle East & Africa
- Market Size and Analysis
- Asia-Pacific Coronary Stents Outlook, 2017- 2027
- Market Size and Analysis
- By Revenues in USD Million
- Market Share and Analysis
- By Stent Type
- By Biomaterial
- By Deployment
- By End-User
- By Country
- China
- Japan
- India
- Australia
- South East Asia
- Rest of Asia Pacific
- Market Size and Analysis
- Global Coronary Stents Market Key Strategic Imperatives for Success and Growth
- Competitive Outlook
- Competition Matrix
- By Application Portfolio
- Brand Specialization
- Target Markets
- Target by Applications
- Research & Development
- Strategic Alliances
- Strategic Initiatives
- Company Profiles (Business Description, By Application Segments, Business Segments, Financials, Strategic Alliances/ Partnerships, Future Plans)
- Abbott Laboratories, Inc.
- AMG International GmbH
- Biotronik SE & Co. KG
- Boston Scientific Corporation
- B. Braun Melsungen AG
- Cook Medical, Inc.
- Medtronic, Inc.
- MicroPort Scientific Corporation
- Stentys SA
- Terumo Corporation
- Others
- Competition Matrix
- Disclaimer
MarkNtel Advisors follows a robust and iterative research methodology designed to ensure maximum accuracy and minimize deviation in market estimates and forecasts. Our approach combines both bottom-up and top-down techniques to effectively segment and quantify various aspects of the market. A consistent feature across all our research reports is data triangulation, which examines the market from three distinct perspectives to validate findings. Key components of our research process include:
1. Scope & Research Design At the outset, MarkNtel Advisors define the research objectives and formulate pertinent questions. This phase involves determining the type of research—qualitative or quantitative—and designing a methodology that outlines data collection methods, target demographics, and analytical tools. They also establish timelines and budgets to ensure the research aligns with client goals.
2. Sample Selection and Data Collection In this stage, the firm identifies the target audience and determines the appropriate sample size to ensure representativeness. They employ various sampling methods, such as random or stratified sampling, based on the research objectives. Data collection is carried out using tools like surveys, interviews, and observations, ensuring the gathered data is reliable and relevant.
3. Data Analysis and Validation Once data is collected, MarkNtel Advisors undertake a rigorous analysis process. This includes cleaning the data to remove inconsistencies, employing statistical software for quantitative analysis, and thematic analysis for qualitative data. Validation steps are taken to ensure the accuracy and reliability of the findings, minimizing biases and errors.
4. Data Forecast and FinalizationThe final phase involves forecasting future market trends based on the analyzed data. MarkNtel Advisors utilize predictive modeling and time series analysis to anticipate market behaviors. The insights are then compiled into comprehensive reports, featuring visual aids like charts and graphs, and include strategic recommendations to inform client decision-making
