Coronary Stent Market By Product Type (Drug-Eluting Stent, Bare-Metal Stent, and Others), By Material Type (Metallic and Others), By End User (Hospitals, Cardiac Center, and Others), and Region - Growth Forecast to 2027

The global coronary stent market is estimated to be valued at approximately US$ 6,619.7 Mn in 2019, and is expected to register a CAGR of over 6.8%. The report offers in-depth insights, revenue details, and other vital information regarding the global coronary stent market and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report also offers insightful and detailed information regarding the various key players operating in the global coronary stent market, and their financials, apart from strategies, acquisitions & mergers, and market footprint. The global coronary stent market report has been segmented on the basis of product type, material type, end user, and region.

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This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.

Coronary angioplasty is a medical procedure used to treat coronary heart diseases. A small balloon is inflated inside one or more coronary arteries in order to open an area of arteries become narrow to improve blood flow to patients’ heart.

Increasing incidence and prevalence of cardiovascular, and lifestyle diseases, coupled with increasing aging population, and rising demand for treatment of various cardiovascular diseases and conditions is expected to result in growing patient pool and hospitalization, which is expected to drive growth of the global coronary stent market over the forecast period. According to WHO - CVDs are the leading cause of death globally. Owing to increasing incidence of cardiovascular diseases, more people die annually as compared to other causes or diseases. In 2016, approximately 17.9 Mn people died from CVDs, represented 31.0% of all global deaths. Among these deaths, around 85.0% are due to heart attack and stroke. In US, coronary heart disease accounts for 1 in 7 deaths in 2015, killed over 366,800 people in a year.

In addition, innovative product launches and technological advancements in coronary stent market are some other factors expected to further fuel growth of the target market over the forecast period. For instance, in February 2018, Medtronic plc. launched Resolute Onyx 2.0 mm Drug-Eluting Stent (DES) - the smallest sized DES in the US market. The new stent is intended to help interventional cardiologists treat patients with coronary artery disease (CAD) who have small vessels often untreatable with larger stent technologies during percutaneous coronary intervention (PCI). Additionally, in September 2018, Terumo Corporation launched the Ultimaster and Tansei drug eluting stent (DES) in Japan. Terumo has already launched the product in Europe in May, and will expand its DES sales coverage to other areas.

Furthermore, availability of favorable reimbursement policies in the developed regions across various countries such as US, Canada, UK, and many developing countries of Asia Pacific, is expected to bolster growth of the global coronary stent market over the forecast period. For instance, Japan’s National Health Insurance system provides reimbursement for all medical devices including coronary stents.

Market Analysis by Product Type:

On the basis of product type, the market is segmented into drug-eluting stent, bare-metal stent, and bioresorbable vascular stent. Currently, the drug-eluting stent segment dominates the global market in terms of revenue and is expected to maintain its dominance over the forecast period, owing to increasing preference towards drug-eluting stents over bare-metal stents, due to its advantages to keep blockage from recurring as compared to bare metal stents.

Market Analysis by Material Type:

Based on material type, the global market is segmented into metallic and others. The metallic segment accounts for maximum share and is expected to continue to grow at the same rate over the forecast period. The metallic metal type includes Cobalt Chromium (CoCr), Platinum Chromium (Pt-Cr), Stainless Steel, and Nickel Titanium.

Market Analysis by End User:

Based on end user, the global market is segmented into hospitals, cardiac centers, and others. The hospitals segment accounts for maximum share and is expected to continue to grow at the same rate over the forecast period, owing to availability of various reimbursement policies in hospitals and increasing number of patient pool suffering from cardiovascular diseases.

Market Analysis by Region:

Based on region, the global market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America is expected to register highest share in terms of revenue in the global coronary stent market in 2018. In addition, availability of advanced medical facilities and improved healthcare infrastructure, coupled with early adoption of technologically advanced products and devices across various countries in the region, especially in the US, are major factors expected to drive growth of the target market. The market in Europe is expected to account for second-highest share in terms of revenue over the forecast period, owing to availability of well-developed healthcare facilities, relatively favorable reimbursement policies, and availability of advanced medical products which is resulting in patient opting for cardiovascular surgeries. In addition, increasing expansion activities through various mergers and acquisitions is expected to create new opportunities for players operating the target market in this region over the forecast period.

Market Segmentation of Global Coronary Stent Market:

Segmentation by product type:

• Drug-Eluting Stent
• Bare-Metal Stent
• Bioresorbable Vascular Stent

Segmentation by material type:

• Metallic
  • o Cobalt Chromium (CoCr)
  • o Platinum Chromium (Pt-Cr)
  • o Stainless Steel
  • o Nickel Titanium
• Others

Segmentation by end user:

• Hospitals
• Cardiac Center
• Others

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa