Stents Market by Product, Material, and End User : Global Opportunity Analysis and Industry Forecast, 2021–2030

Stents Market by Product (Coronary Stents, Peripheral Stents, and Stent Related Implant), Material (Metallic Biomaterial, Polymer Biomaterial, and Natural Biomaterial), and End User (Hospital, Ambulatory Surgical Centers, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030

The global stents market was valued at $11,749.4 million in 2020, and is estimated to reach $19,767.5 million by 2030, growing at a CAGR of 5.6% from 2021 to 2030.

A stents is a medical device, which is inserted into internal duct of the body for expanding blood vessels and preventing vessels from blockage. Stents act by expanding vessels or internal duct for clearing the blockage caused due to deposition of plague. Natural stents are designed in such a way that after eluting a drug, the stents get dissolved within the body at a certain interval of time.

Growth of the global stents market is majorly driven by alarming increase in prevalence of cardiovascular disease; rise in government initiatives for development of effective treatment procedure; increase in number of angioplasty surgery; advancements in technology in the healthcare sector; and rise in geriatric population. For instance, according to the Centers for Disease Control and Prevention, in 2019, approximately 14.2% people above the age of 45 years were reported to be diagnosed with coronary artery disease across the globe. Moreover, in 2021, the Government of India announced a Scheme for “Promotion of Medical Device Parks”. It is an initiative taken by government to support the medical devices. Furthermore, in November 2019, the American College of Cardiology, announced that a physician conduct around 1.2 million angioplasties in the U.S., in a year. Thus, an increase in number of angioplasty surgery and rise in funds by governments and private organizations for development of medical devices is expected to propel growth of the market.

Increase in number of approval of stents and adoption of different strategy of market players in manufacturing of advanced stents are the major factors that drive the global stents market. Arterius Limited, in April 2019, collaborated with Translational Biomedical Research Centre for development of new bioabsorbable stents to get accurate and reliable results. Moreover, increase in incidences of chronic diseases such as diabetics and hypertension significantly contributes to the market growth. Rise in demand for stents acts a key driving force for expansion of the global market. Further, in March 2021, Elixir Medical Corporation, a developer of drug-eluting cardiovascular devices, announced the result of the INFINITY SWEDEHEART randomized controlled trial (RCT) of DynamX Coronary Bioadaptor system. The result states that dynamx Coronary bioadaptor has no target of myocardial infarction or thrombosis through 24 months.
For instance, in April 2021, the MicroPort Scientific Corporation launched Castor Branched Stents-Graft system, which is used for treatment of aortic arch repair by minimally invasive surgical procedure. Thus, advancements in technology for development of stents in emerging nations are anticipated to provide lucrative opportunities for the market expansion.
However, high cost of stents used for treatment of vascular blockage is anticipated to hinder the market growth. Rise in the healthcare sector for management of coronary and peripheral artery disease, rise in per capital income, and rise in adoption of stents by patients and physicians augments growth of the market. This has further encouraged many key players to enter emerging markets, thus offering lucrative growth opportunities for the stents market.

The global stents market is segmented into product, material, end user, and region. By product, the market is categorized into coronary stents, peripheral stents, and stents-related implant. Depending on material, it is fragmented into metallic biomaterials, polymer biomaterials and natural biomaterials. On the basis of end user, it is divided into hospitals, ambulatory surgical centers, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major companies that operate in the global stents market are Abbott Laboratories, B. Braun Melsungen AG, Biotronik SE & CO. KG., Boston Scientific Corporation, Becton, Dickinson and Company, Elixir Medical Corporation, Medtronic Plc., Microport Scientific Corporation, Reva Medical, Inc., and Terumo Corporation.
Some of the major companies that operate in the global stents market are Abbott Laboratories, B. Braun Melsungen AG, Biotronik SE & CO. KG., Boston Scientific Corporation, Becton, Dickinson and Company, Elixir Medical Corporation, Medtronic Plc., Microport Scientific Corporation, Reva Medical, Inc., and Terumo Corporation.

KEY BENEFITS FOR STAKEHOLDERS
- The report provides an in-depth analysis of the global stents market size along with the current trends and future estimations to elucidate the imminent investment pockets.
- It offers market analysis from 2021 to 2030, which is expected to enable the stakeholders to capitalize on the prevailing opportunities in the market.
- A comprehensive analysis on region assists to understand the regional market and facilitate the strategic business planning and determine prevailing opportunities.
- The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook of the global stents market.

KEY MARKET SEGMENTS

By Product
• Coronary Stents
o Drug-eluting stents (DES)
o Bare-metal coronary stents
o Bioabsorbable stents
• Peripheral Stents
o Iliac stent
o Femoral-popliteal stents
o Renal & related stents
o Carotid stents
• Stent Related Implant
o Synthetic grafts
o Vena cava filters

By Material
• Metallic Biomaterial
• Polymer Biomaterial
• Natural Biomaterial

By End User
• Hospital
• Ambulatory Surgical Centers
• Others

By Region
o North America
- U.S.
- Canada
- Mexico
o Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
o Asia-Pacific
- Japan
- China
- Australia
- India
- South Korea
- Rest of Asia-Pacific
o LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA

KEY MARKET PLAYERS
• Abbott Laboratories
• B. Braun Melsungen AG
• Biotronik SE & CO. KG.
• Boston Scientific Corporation
• Becton, Dickinson and Company
• Elixir Medical Corporation
• Medtronic Plc.
• Microport Scientific Corporation
• Reva Medical, Inc.
• Terumo Corporation