Global Coronary Stents Market, by Product Type (Bare-metal Stents, Drug Eluting Stents, and Bioabsorbable Stents), by Material (Metallic (Stainless Steel, Silicon Carbide, Titanium Nitride Oxide, Cobalt Chromium, Platinum Chromium, and Others) and Polymeric (Non-degradable/Permanent Stents and Degradable/Temporary Stents)), by End User (Hospitals, Specialty Clinics, and Ambulatory Surgical Centers), by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 11,971.0 Million in 2023 and is expected to exhibit a CAGR of 7.93% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
The key players in the market are focusing on adoption of organic growth strategies such as product launch in order to strengthen their market presence in the global coronary stents market, is expected to drive the market growth over the forecast period. For instance, in April 2021, Eurocor Tech GmbH, a designer and manufacturer of cardiovascular and endovascular products, announced the launch of its new product, Eurolimus. The product features and open-cell design with interlinks, allows for high flexibility and overexpansion capabilities while offering one of the lowest strut thicknesses in the market.
Global Coronary Stents Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), that first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of many countries in the world.
The COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems with regards to the transportation of drugs from one place to another.
The COVID-19 had a negative impact on the global coronary stents market, owing to side effects such as coronary stent thrombosis. For instance, in January 2022, a report published in National Center for Biotechnology Information (NCBI) stated that according to new studies, the percentage of stent thrombosis increased during the COVID-19 pandemic, up to 8.1–21%
Global Coronary Stents Market: Key Developments
In April 2022, Translumina, a global developer and manufacturer of innovative cardiovascular medical devices used in interventional cardiology, announced the launch of VIVO ISAR, its latest generation dual drug polymer-free coated stent (DDCS), in various international markets, including Europe.
In February 2022, Cardiovascular Systems, Inc., a medical device company developing and commercializing innovative interventional treatment systems for patients with peripheral and coronary artery disease, announced its partnership with Innova Vascular, Inc., a medical device company to develop a full line of novel thrombectomy devices.
In June 2020, Sahajanand Medical Technologies Pvt. Ltd, a leading developer and manufacturer of minimally invasive coronary stent systems, announced that it has received full reimbursement for Supraflex and Supraflex Cruz coronary stent from the Ministry of Health and Public Affairs of France.
In November 2021, Purple MicroPort, an Indian joint venture company of MicroPort Scientific Corporation, officially launched the Firehawk IN Rapamycin Target Eluting Coronary Stent System for the Indian drug eluting stent (DES) market.
The increasing product launches, partnerships and improved reimbursement scenario is expected to develop new opportunities in the global coronary stents market, which is expected to drive the market over the forecast period.
Browse 41 Market Data Tables and 30 Figures spread through 198 Pages and in-depth TOC on “Global Coronary Stents Market”- Forecast to 2030 by Product Type (Bare-metal Stents, Drug Eluting Stents, and Bioabsorbable Stents), by Material (Metallic (Stainless Steel, Silicon Carbide, Titanium Nitride Oxide, Cobalt Chromium, Platinum Chromium, and Others) and Polymeric (Non-degradable/Permanent Stents and Degradable/Temporary Stents), by End User (Hospitals, Specialty Clinics, and Ambulatory Surgical Centers) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/coronary-stents-market-2031
Key Takeaways of the Global Coronary Stents Market:
- The global coronary stents market is expected to exhibit a CAGR of 7.93% during the forecast period. Increasing adoption of inorganic growth strategies, such as acquisitions by key players in the market to expand product portfolio, is expected to drive the segment growth over the forecast period. For instance, in May 2020, Sahajanand Medical Technologies Pvt. Ltd, a leading developer and manufacturer of minimally invasive coronary stent systems, announced the acquisition of Vascular Concepts Ltd, a medical devices firm to boost its position in advanced medical technologies and in structural heart tech.
- Among product type, drug eluting stents segment is estimated to hold a dominant position in the global coronary stents market over the forecast period, owing to increasing product launches by the key players in the market to expand the product portfolio. For instance, in August 2021, Sino Medical Sciences Technology Inc., a leading international medical device company, announced the launch of HT Supreme Drug-Eluting Stent (DES). This new device gives clinicians an additional choice of a device that is tailored to help patients accelerate their wound-healing process and restore their naturally protective vessel function after a stenting procedure.
- Among region, North America is expected to be the dominant region in the global coronary stents market, owing to increasing adoption of organic growth strategies, such as product launch by the key players in the market to expand the product portfolio and strengthen their market presence, which is expected to drive the segment growth over the forecast period. For instance, in August 2022, Medtronic, one of the largest medical device companies in the world, announced that it has launched its newest drug-eluting coronary stent, the Onyx Frontier drug-eluting stent (DES), with an enhanced delivery system designed to improve deliverability and increase acute performance in the most challenging cases.
- Major players operating in the global coronary stents market include Medtronic, iVascular, Alvimedica, Alta Biomaterials, Japan Medical Device Technology Co., Ltd., Veritas Bioventions Pvt Ltd, Nano Therapeutics Pvt. Ltd, Abbott, SLTL Group, Translumina Therapeutics LLP, DSM, Arterius, Terumo Corporation, SMT, Boston Scientific Corporation, Cook, Biotronik, B. Braun SE, MicroPort Scientific Corporation, Meril Life Sciences Pvt. Ltd, C. R. Bard, Inc, KYOTO MEDICAL PLANNING Co., Ltd, QualiMed, Elixir Medical Corporation, ENDOCOR GmbH & CO. KG, Amaranth Medical, Inc.
