The global coronary stents market size is expected to reach USD 11.3 billion by 2027, expanding at a CAGR of 4.7%, according to a new report by Grand View Research, Inc. Increasing adoption of minimally invasive surgeries and percutaneous coronary intervention (PIC) procedures is expected to drive the market for coronary stents in the coming years. Moreover, increasing geriatric population is considered as a high impact rendering driver for the growth of this industry over the forecast period. Technological advancement in 2nd generation drug eluting stents (DES) is further fueling the growth. Development of biodegradable and polymer free DES in order to increase patient compliance is expected to drive the market over the coming years.
The coronary stent market is driven by reimbursement coverage provided by the general public Center for Medicare and Medicaid Services (CMS) and private payers. The coverage is availed under national coverage determination for carotid artery stenting, including products and service provider. From January 2020, Centers for Medicare & Medicaid Services (CMS) proposed reimbursement for some angioplasty and stenting procedures performed in ambulatory surgical center (ASC), which is expected to boost market revenue over the forecast period.
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Key Takeaways from the report:
- In terms of revenue, the DES dominated the product segment as of 2019. New product launches and technological advancements in 2nd gen DES are acting as the driving factor for this segment
- Prices for the first-generation BVS (Bioresorbable Vascular Scaffold) are much high as compared to existing BMS (Bare Metal Stent) and DES. Due to its safety concern and high hospitalization rates, doctors are not preferring BRS over DES. Moreover, high crossing profile and bulky struts are factors majorly impeding the BRS market
- Asia Pacific is expected to exhibit the highest growth rate over the forecast period. Increase in disposable income and growing incidence of heart diseases will fuel market growth in the coming years
- Some of the key companies present in the coronary stent market are Medtronic, Abbott, Boston Scientific, Terumo Corporation, Biotronik, and Microport Corporation
- With USD 2.3 billion R&D expenditure in 2018, Abbott is anticipated to provide with technologically advanced second generation DES and may be BVS in near future.
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Grand View Research has segmented the global coronary stent market on the basis of product and region:
Coronary Stents Product Outlook (Revenue, USD Million, 2016 – 2027)
- Bare Metal Stents (BMS)
- Drug Eluting Stents (DES)
- Bioresorbable Vascular Scaffold (BVS)
Coronary Stents Regional Outlook (Revenue, USD Million, 2016 – 2027)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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