The cardiovascular stents market is expected to grow significantly in the coming years due to the rising prevalence of cardiovascular diseases (CVDs) worldwide. Stents are small mesh tubes used to open narrow or blocked arteries in the body, and they play a crucial role in the treatment of CVDs. The global cardiovascular stents market was valued at USD 7.76 billion in 2020 and is projected to reach USD 11.68 billion by 2028, at a CAGR of 5.1% during the forecast period.
Cardiovascular stents are medical devices that are implanted in the arteries to restore blood flow and prevent artery collapse. Stents are typically made of metal, but newer stents are coated with medication to prevent restenosis (re-narrowing of the artery) and reduce the risk of blood clots. Cardiovascular stents are used to treat a variety of heart conditions, including coronary artery disease, peripheral artery disease, and aneurysms.
Executive Summary
The cardiovascular stents market is growing due to the rising prevalence of CVDs worldwide. The market was valued at USD 7.76 billion in 2020 and is projected to reach USD 11.68 billion by 2028, at a CAGR of 5.1% during the forecast period. The market is driven by factors such as the growing elderly population, the rising prevalence of obesity and diabetes, and technological advancements in stent design and materials. However, high costs associated with stent implantation, the risk of complications, and the availability of alternative treatment options are expected to restrain market growth.
Important Note:ย The companies listed in the image above are for reference only. The final study will cover 18โ20 key players in this market, and the list can be adjusted based on our clientโs requirements.
Key Market Insights
- The global cardiovascular stents market is projected to reach USD 11.68 billion by 2028, at a CAGR of 5.1% during the forecast period.
- North America held the largest share of the cardiovascular stents market in 2020, followed by Europe and the Asia Pacific.
- The coronary stents segment is expected to hold the largest share of the cardiovascular stents market during the forecast period due to the high prevalence of coronary artery disease.
- Drug-eluting stents are expected to hold the largest share of the cardiovascular stents market during the forecast period due to their effectiveness in reducing the risk of restenosis.
Market Drivers
- Growing elderly population The global population is aging, and the elderly population is at a higher risk of developing CVDs. As the elderly population grows, the demand for cardiovascular stents is expected to increase.
- Rising prevalence of obesity and diabetes Obesity and diabetes are risk factors for CVDs, and the prevalence of these conditions is increasing worldwide. As the number of people with these conditions grows, the demand for cardiovascular stents is expected to increase.
- Technological advancements in stent design and materials Advancements in stent design and materials have led to the development of more effective and durable stents. These advancements have increased the success rate of stent implantation and reduced the risk of complications.
Market Restraints
- High costs associated with stent implantation The cost of stent implantation can be high, which can limit access to the procedure for some patients.
- Risk of complications Stent implantation carries a risk of complications, including bleeding, infection, and blood clots. These complications can lead to additional medical expenses and hospitalizations.
- Availability of alternative treatment options There are alternative treatment options for CVDs, such as medication and lifestyle changes. These options may be less invasive and less expensive than stent implantation, which can limit the demand for cardiovascular stents.
Market Opportunities
- Emerging markets The cardiovascular stents market is expected to experience significant growth in emerging markets such as India, China, and Brazil. This is due to the increasing prevalence of CVDs in these regions, along with improving healthcare infrastructure and increasing disposable incomes.
- Increasing adoption of bioresorbable stents Bioresorbable stents are a newer type of stent that are designed to be gradually absorbed by the body over time. These stents have the potential to reduce the risk of complications associated with permanent stents, and their increasing adoption is expected to drive market growth.
- Development of next-generation stents Companies are continuing to develop next-generation stents that are designed to be even more effective and durable than current stents. These advancements are expected to increase the success rate of stent implantation and reduce the risk of complications, further driving market growth.
Market Dynamics
The cardiovascular stents market is dynamic and influenced by various factors, including the rising prevalence of CVDs, technological advancements, and changing healthcare policies. In addition, the market is highly competitive, with numerous companies vying for market share. Key players in the market include Abbott Laboratories, Boston Scientific Corporation, Medtronic plc, and Terumo Corporation.
Regional Analysis
North America held the largest share of the cardiovascular stents market in 2020, followed by Europe and the Asia Pacific. The high prevalence of CVDs in North America, along with favorable reimbursement policies, is driving market growth in the region. In Europe, the market is driven by increasing government initiatives to reduce the burden of CVDs, while in the Asia Pacific, the market is driven by the increasing prevalence of CVDs and improving healthcare infrastructure.
Competitive Landscape
Leading Companies in the Cardiovascular Stents Market:
- Abbott Laboratories
- Medtronic plc
- Boston Scientific Corporation
- Terumo Corporation
- B. Braun Melsungen AG
- Biotronik SE & Co. KG
- MicroPort Scientific Corporation
- Meril Life Sciences Pvt. Ltd.
- Cook Medical LLC
- Stentys SA
Please note: This is a preliminary list; the final study will feature 18โ20 leading companies in this market. The selection of companies in the final report can be customized based on our client’s specific requirements.
Segmentation
The cardiovascular stents market can be segmented based on product type, material type, and end-user. By product type, the market can be segmented into coronary stents, peripheral stents, and other stents. By material type, the market can be segmented into metal stents, polymer stents, and bioresorbable stents. By end-user, the market can be segmented into hospitals, ambulatory surgical centers, and others.
Category-wise Insights
- Coronary stents segment The coronary stents segment is expected to hold the largest share of the cardiovascular stents market during the forecast period due to the high prevalence of coronary artery disease. The segment can be further sub-segmented into bare-metal stents, drug-eluting stents, and bioresorbable stents.
- Metal stents segment The metal stents segment is expected to hold the largest share of the cardiovascular stents market during the forecast period due to their durability and effectiveness. The segment can be further sub-segmented into cobalt-chromium alloy stents, stainless steel stents, and others.
- Hospitals segment The hospitals segment is expected to hold the largest share of the cardiovascular stents market during the forecast period due to the high volume of stent implantations performed in hospitals.
Key Benefits for Industry Participants and Stakeholders
- Increased revenue opportunities The growing demand for cardiovascular stents presents significant revenue opportunities for companies operating in the market.
- Development of new products and technologies The dynamic nature of the market creates opportunities for companies to develop new products and technologies that can improve patient outcomes and enhance their market position.
SWOT Analysis
Strengths:
- Growing elderly population
- Rising prevalence of obesity and diabetes
- Technological advancements in stent design and materials
- Increasing adoption of bioresorbable stents
Weaknesses:
- High costs associated with stent implantation
- Risk of complications
- Availability of alternative treatment options
Opportunities:
- Emerging markets
- Development of next-generation stents
- Increasing adoption of bioresorbable stents
Threats:
- Stringent regulations and approval processes
- Competition from alternative treatment options
- Economic downturns and healthcare cost containment measures
Market Key Trends
- Increasing adoption of bioresorbable stents Bioresorbable stents are a newer type of stent that are designed to be gradually absorbed by the body over time. These stents have the potential to reduce the risk of complications associated with permanent stents, and their increasing adoption is expected to drive market growth.
- Technological advancements in stent design and materials Advancements in stent design and materials have led to the development of more effective and durable stents. These advancements have increased the success rate of stent implantation and reduced the risk of complications.
- Development of next-generation stents Companies are continuing to develop next-generation stents that are designed to be even more effective and durable than current stents. These advancements are expected to increase the success rate of stent implantation and reduce the risk of complications, further driving market growth.
Covid-19 Impact
The COVID-19 pandemic has had a significant impact on the cardiovascular stents market. The pandemic has led to a reduction in elective surgeries, including stent implantations, due to the diversion of resources to the treatment of COVID-19 patients. In addition, the pandemic has led to supply chain disruptions and decreased demand for cardiovascular stents due to the postponement of non-urgent procedures. However, as the pandemic is brought under control and healthcare systems return to normal operations, the demand for cardiovascular stents is expected to rebound.
Key Industry Developments
- In January 2021, Abbott Laboratories received CE Mark approval for its next-generation XIENCE Skypoint stent system, which features a thinner profile and improved stent delivery system.
- In December 2020, Boston Scientific Corporation announced the launch of its EXALT Model D single-use duodenoscope, which features a disposable distal cap and elevator mechanism to reduce the risk of infection transmission.
- In October 2020, Terumo Corporation announced the launch of its Ultimaster TANSEI drug-eluting stent in Japan, which features a biodegradable polymer coating and improved drug delivery system.
Analyst Suggestions
- Companies should focus on developing next-generation stents that are more effective and durable than current stents.
- Companies should continue to invest in research and development to improve the safety and effectiveness of stent implantation.
- Companies should explore opportunities in emerging markets such as India, China, and Brazil.
Future Outlook
The cardiovascular stents market is expected to continue growing in the coming years due to the rising prevalence of CVDs worldwide. The market is driven by factors such as the growing elderly population, the rising prevalence of obesity and diabetes, and technological advancements in stent design and materials. However, high costs associated with stent implantation, the risk of complications, and the availability of alternative treatment options are expected to restrain market growth. The market is highly competitive, with numerous players vying for market share. Companies are focusing on developing next-generation stents, expanding their product portfolios, and entering into strategic partnerships to enhance their market position.
Conclusion
The cardiovascular stents market is a dynamic and growing market driven by the rising prevalence of CVDs worldwide. The market is expected to reach USD 11.68 billion by 2028, at a CAGR of 5.1% during the forecast period. The market is characterized by intense competition, with key players such as Abbott Laboratories, Boston Scientific Corporation, Medtronic plc, and Terumo Corporation leading the market. The market is driven by factors such as the growing elderly population, the rising prevalence of obesity and diabetes, and technological advancements in stent design and materials. However, high costs associated with stent implantation, the risk of complications, and the availability of alternative treatment options are expected to restrain market growth.
In order to succeed in this market, companies must focus on developing next-generation stents that are more effective and durable than current stents. They must also continue to invest in research and development to improve the safety and effectiveness of stent implantation. Companies should also explore opportunities in emerging markets such as India, China, and Brazil, where the demand for cardiovascular stents is expected to increase.
Overall, the future outlook for the cardiovascular stents market is positive, with continued growth expected in the coming years. As technology continues to advance and the population continues to age, the demand for cardiovascular stents is expected to increase, presenting significant revenue opportunities for companies operating in the market. However, companies must also be aware of the challenges and risks associated with the market, including competition from alternative treatment options, economic downturns, and regulatory hurdles.