The global stents market size is estimated to reach USD 18.6 billion by 2030 growing with a CAGR of 5.50% throughout the timeline period 2023 - 2030.
Stents are medical devices used to save critical life-saving processes. A stent is a mesh tube-like structure that is inserted into the body to open the blocked arteries and allow free passage of blood.
The sudden outbreak of novel coronavirus (COVID-19) negatively affected the stents market. During the first half of 2022, patients stopped visiting the hospitals to avoid the virus spread. Most emergency cases were only treated. Teleconsultations became the most common method of consulting their physicians. Healthcare professionals are on the frontline of combating the virus.
Factors driving the stents market include quick technological advancements resulting in high accuracy and reliability of stents, growing patient population with growing chronic diseases. Various public and private organizations are providing rules and regulations for the safe and effective utilization of stents. The rising number of surgeries performed along with the best trained and experienced professionals augments the stents market growth during the forecast period.
A booming number of hospitals with established and well-structured infrastructure escalates the stents market growth. Also, the demand for minimally invasive procedures booms the stents market. The market players launch new stents devices, and growing mergers and acquisitions enhance the market growth.
The stents are manufactured with advancements in technology and the cost increases concerning technology. The stents are costly and many of them don't have proper medical insurance coverage particularly in developing countries. The factor hinders the stents market growth.
Strict approval procedure
The approving stents process involves strict regulations, as the stents are inserted into the body. The factor restrains the market growth.
The use of alternative treatment procedures and the negative effects of product approvals and recalls are hampering the stents market.
The global stents market has been segmented and sub-segmented based on the product type, and material.
Stents Market - By Product Type
By product type, the coronary stents segment produces a significant share in the stents market in terms of revenue in 2022. The segment growth owes to rising occurrences of cardiovascular diseases with booming advancements in technology over coronary stents.
The carotid stent segment is scheduled to record the quickest CAGR due to the increasing occurrence of disorders like peripheral vascular lesions, and ischemic stroke resulting in the growing demand for the carotid stents market.
The bioabsorbable stents segment is one of the fastest-growing segments with the highest CAGR growth rate during the forecast period. The increasing concentration on developing bioabsorbable stents and quick adoption rate of stents. Bioabsorbable stents are easily inserted into the body and to avoid thrombosis/restenosis escalating the stents market.
Stents Market - By Material
The metallic biomaterials segment dominates the stents market due to its profitability and efficiency of vascular healings compared to other stents. The benefits like a low rate of stent fracture, adaptability, and biocompatibility. Also, metal stents decrease the occurrence of irritable vessel closure and restenosis reducing the target lesion revascularization (TLR).
Geographically, North America is dominating the stents market with a lion's share in terms of revenue. As per the U.S. Census Bureau, more than 54 million residents are 65 years and above. The rising aged population with the increasing number of heart-related diseases boosts the stents market growth. In 2018, more than 800,000 cases were recorded in the U.S., due to cardiovascular diseases. CVD is one leading cause of death.
Europe stands second in the region after North America. The growth owes to growing elderly people with rising chronic disease cases, and advanced technologies. The European Association of Percutaneous Cardiovascular Interventions (EAPCI) offers clinical and non-clinical regulations for stents.
Germany and the UK are the major contributors to the stents market. A German-based company, MSM, medical devices specialization and have won CE approval. For reopening a vein bypass, bare-metal stents perform superior to drug-eluting stents discovered by the Scientists of the German Centre for Cardiovascular Research and the German Heart Centre Munich, hospital of the Technical University of Munich (TUM).
German Subsidiary of CorNova, Implant Sciences Corp. received CE approval for its Valecor Coronary Stent System.
Asia-Pacific is estimated to have tremendous growth in the stents market. The launch of new and economical stents by key players and the growing use of vascular stents for cardiovascular disease stimulate the market growth. The stent is introduced to address the threat of stent thrombosis related to slowed healing. In 2022 September, COMBO Plus coronary stent was launched by OrbusNeich Medical K.K. in Japan.
The stents market in South Korea is predicted to grow with CAGR in double digits. Boston Scientific Corporation is the leading player in South Korea.
Latin America is the second largest region to have the quickest growth in the stents market. Brazil, Mexico, and the rest of Latin America contribute a major share to the stents market. Brazil is leading the stents market with noteworthy growth.
The Middle East & African region is anticipated to have notable growth in the stents market. The south African stents market is projected to increase by $132 million by 2022.
Key Players in Global Stents Market
Recent Market Developments
Stents Market – Forecast (2021-2026)
Stents Market – Scope & Methodology
Stents Market - Executive Summary
Market Size & Forecast – (2019 – 2025) ($M/$B)
Key Trends & Insights
Market Share Analysis
Strategy & Development Scenario
Market Life Cycle
Stents Market - Landscape
Value Chain Analysis
Porter Five Force Model
Stents Market, By Product Type - Market Size, Forecast, Trends & Insights
Drug-Eluting Stents (DES)
Bare-Metal Coronary Stents
Vena Cava Filters
Others (Ureter and Prostatic)
Stents Market, By Material - Market Size, Forecast, Trends & Insights
Stents Market, By Geography - Market Size, Forecast, Trends & Insights
Rest of Europe
Australia & New Zealand
Rest of Asia-Pacific
Rest of the World
Stents Market- Company Profiles – (Overview, Product Portfolio, Financials, Developments)
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