Coronary Stents Market In-depth Analysis and Forecast Report, 2030

Posted 2024-10-04 06:16:17

The global coronary stents market size is expected to reach USD 12.10 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 3.1% from 2023 to 2030. Increasing adoption of minimally invasive surgeries and Percutaneous Coronary Intervention (PCI) procedures is expected to drive the market in the coming years. For instance, according to The Korean Journal of Thoracic and Cardiovascular Surgery, the proportion of PCI for Coronary Artery Disease (CAD) was 78% in 2016, and the country-specific PCI proportion was 96%, which was significantly higher than the global average. As a result, the unprecedented growth in CAD incidence, along with an increase in the proportion of PCIs done in these CAD patients, is expected to raise demand for an effective coronary stent technology.

Technological advancement and the launch of 2^nd generation drug-eluting stents are further fueling the growth. For instance, Abbott Laboratories Laboratories' XIENCE Sierra became the first DES approved for CTO indications in the US in May 2018. Medtronic followed suit in early 2019, obtaining FDA approval for the use of its Resolute range of DES in CTO indications. In addition, many companies have recently launched newer versions of their coronary stent systems in the US, notably Boston Scientific's Synergy Megatron in January 2021 and Abbott Laboratories Laboratories' XIENCE Skypoint in June 2021.

The coronary stent market is driven by reimbursement coverage provided by the general public Center for Medicare & Medicaid Services (CMS) and private payers. The coverage is availed under national coverage determination for carotid artery stenting, including products and service providers. From January 2020, the Centers for Medicare & Medicaid Services (CMS) proposed reimbursement for some angioplasty and stenting procedures performed in the ambulatory surgical centers (ASC), which is expected to boost the market revenue over the forecast period.

Gather more insights about the market drivers, restrains and growth of the Global coronary stents market

Coronary Stents Market Report Highlights

Overall PCI procedure volumes treated with coronary stent devices will rise as the aging population and the PCI-eligible patient population grows, owing to new technologies and increased ability to treat severe lesions
The bioresorbable vascular scaffold segment is expected to be the second fastest growing segment due to its several advantages in treating coronary artery disease including temporary placement in the patient heart, ease for future treatments as it degrades over 3 years, and it dissolve completely in the patient body.
Favorable clinical trials have demonstrated that DES is better than standard BMS. As a result, in 2021, DES has dominated the market
North America dominated the coronary stents market and accounted for the largest revenue share of 32.6% in 2022 and is anticipated to witness the same trend over the foreseeable future.
The Asia Pacific market for coronary stents is expected to exhibit the fastest growth rate in terms of revenue generation. This market is driven by some additional variables of enhanced screening for CAD, economic growth, regulatory updates, and notable beneficial reimbursement in some countries such as Australia and South Korea.

Browse through Grand View Research's Medical Devices Industry Research Reports.

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Coronary Stents Market Segmentation

Grand View Research has segmented the global coronary stents market based on product, and region:

Coronary Stents Product Outlook (Revenue, USD Million, 2018 - 2030)