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Press Release: Coronary Stents Market to Surpass US$ 15,109.2 Million by 2027
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Stents are medical devices intended for the treatment of blocked vascular paths. The procedure used to reduce blockages is known as percutaneous transluminal coronary angioplasty (PTCA). Stents used for arterial blockage are called coronary stents or heart stents. These stents are also used to prevent re-narrowing of the arteries. Coronary stents can be of three types; bare metal stents, drug eluting stents, and bioabsorbable stents. Although, bare metal stents dramatically improve angiographic and clinical outcomes of patients, the rate of restenosis is 20–30%. This is a major factor limiting the usage of bare metal stents and development of next generation of drug eluting stents.
The global coronary stents market is estimated to be valued at US$ 8,985.6 million in 2020 and is expected to exhibit a CAGR of 7.7% during the forecast period (2020-2027).
Figure 1. Global Coronary Stents Market Share (%) in Terms of Value, By Region, 2020
The increasing prevalence of coronary heart disease is expected to drive the market growth during the forecast period
Coronary heart disease (CHD) is usually caused by a build-up of fatty deposits (atheroma) on the walls of the arteries around the heart (coronary arteries). The build-up of atheroma makes the arteries narrower, restricting the flow of blood to the heart muscle. This process is called atherosclerosis. Thus, the rising prevalence of coronary heart disease is increasing demand for coronary stents for management of coronary heart diseases.
According to the World Health Organization’s 2017 report, cardiovascular diseases (CVDs) were the number 1 cause of death globally, and around 17.9 million individuals died due to cardiovascular diseases in 2016. CVDs are a group of disorders of the heart and blood vessels and include coronary heart disease, cerebrovascular disease, rheumatic heart disease and other conditions.
Moreover, according to the U.S. Department of Health & Human Services report, coronary heart disease is the most common type of heart disease in the U.S. In 2017, around 3,65,914 people died due to coronary heart disease in the U.S.
Figure 2. Global Coronary Stents Market Share (%), by Product Type, 2020
Launch and approval of novel products is expected to drive the market growth during the forecast period
Key players operating in the global coronary stents market are focusing on product launches and obtaining regulatory approval for novel coronary stents which is expected to drive the market growth during the forecast period
For instance, in February 2019, Medtronic PLC received an approval from the U.S. Food and Drug Administration for its Resolute Drug-Eluting Stent (DES) platform (including the Resolute Onyx and Resolute Integrity DES) for treatment of patients with coronary artery disease who have de novo chronic total occlusion (CTO), a complex vessel condition of complete blockage of a coronary artery. CTO is considered more difficult to treat with percutaneous coronary intervention (PCI) due to a greater risk of complications.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2019 | Market Size in 2019: | US$ 8,985.6 Mn |
| Historical Data for: | 2016 to 2019 | Forecast Period: | 2020 to 2027 |
| Forecast Period 2020 to 2027 CAGR: | 7.7% | 2027 Value Projection: | US$ 15,109.2 Mn |
| Geographies covered: |
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| Companies covered: |
Boston Scientific Corporation, Abbott, Medtronic Plc, B. Braun Melsungen AG, Stentsy SA, Terumo Interventional Systems, Kyoto Medical Planning Co., Ltd., QualiMed, Elixir Medical Corporation, ENDOCOR GmbH, BIOTRONIK SE & Co. KG, Amaranth Medical, Inc. and Arterial Remodeling Technologies SA |
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In September 2019, OrbusNeich Medical K.K., a Japan-based company, received approval for its COMBO Plus Coronary Stent from the Japan Ministry of Health, Labor, and Welfare (MHLW). The COMBO Plus Coronary Stent is the first drug-eluting stent [DES] to combine the proprietary endothelial progenitor cell [EPC] capture technology with an abluminal sirolimus drug elution delivered from a biodegradable matrix polymer that achieves full and complete dissipation in 90 days.
Moreover, in May 2019, Medtronic Plc launched the Telescope Guide Extension Catheter. The extension catheters help to deliver coronary stents, balloons and other interventional devices during angioplasty procedures that help to restore blood flow through the coronary and peripheral arteries.
Global Coronary Stents Market – Impact of Coronavirus (Covid-19) Pandemic
Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries around the globe with the World Health Organization declaring it a public health emergency. According to the World Health Organization’s report, the manifestation of COVID-19 has resulted in more than 20.6 million infected individuals worldwide as of 13 August 13, 2020. Furthermore, the global COVID-19 pandemic has led to a sudden pause in manufacturing activities across the globe, thereby affecting demand for coronary stents, as well as production and processing of coronary stents.
Global Coronary Stents Market Restraint
Factors such as risky stent implantation and complications associated with implantation of stents is expected to negatively affect growth of the market. For instance, stents implantation is prone to stents displacement and re-narrowing of the arteries. Re-blockages are addressed by administering blood-thinning drugs, which is leading to high adoption of drug eluting coronary stents.
Key Players
Major players operating in the global medical metal tubing market are Boston Scientific Corporation, Abbott, Medtronic plc, B. Braun Melsungen AG, Stentsy SA, Terumo Interventional Systems, Kyoto Medical Planning Co., Ltd., QualiMed, Elixir Medical Corporation, ENDOCOR GmbH, BIOTRONIK SE & Co. KG, Amaranth Medical, Inc. and Arterial Remodeling Technologies SA
Coronary stents are small interventional devices used for opening blocked arteries and preventing re-narrowing of arteries. The global coronary stents market report provide a valuable tool for evaluation of coronary stents in the current scenario and trends during the forecast period (2020-2027). The report delivers in depth analysis of factors driving as well as restraining the market growth and also enlightens further market opportunity for manufacturers. The report also covers key developments and company strategies to expand the market share.
Market Dynamics
Product launches coupled with increasing geographical expansion of drug-eluting coronary stents product portfolio is propelling growth of the coronary stents market over the forecast period. For instance, in May 2018, Abbott received the U.S. FDA approval for XIENCE Sierra, the new generation of everolimus-eluting coronary stent. The XIENCE received approval from Japan’s regulatory body in April 2018, and CE mark from European regulatory bodies in 2017. Furthermore, companies are also evaluating and launching products using novel material, such as metal like cobalt chromium and fully biodegradable stents. For instance, in 2017, Biotronik received U.S. Food and Drug Administration approval for PRO-Kinetic energy cobalt chromium-based bare metal coronary stent system to treat coronary artery blockage. However, the coronary stents market growth is subject to stringent regulatory approval policies for interventional devices and medical complications such as restenosis and thrombosis, which is expected to restrain the market growth.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
*Browse 41 market data tables and 30 figures on "Coronary Stents Market” - Global forecast to 2027
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