[196 Pages Report] The Stents Market size was estimated at USD 12.99 billion in 2023 and expected to reach USD 13.95 billion in 2024, at a CAGR 7.51% to reach USD 21.57 billion by 2030.
Stents are inserted into blocked passageways to open passages in the heart, such as weak or narrowed arteries providing oxygen-rich blood. Stents are made of either plastic or metal and are coated with drugs to help prevent blocked arteries from closing. Stenting technology is increasingly preferred over conventional balloon angioplasty due to the introduction of advanced DES and evolving bioresorbable scaffolds. The rising incidence of cardiovascular diseases, the expanding elderly population, and the increasing preference for minimally invasive procedures have created a need for the utilization of stents. However, the surging incidence of recalls of stent systems and the risk associated with the stents may adversely impact the market's growth. Moreover, introducing new stent designs and product approvals from regulatory authorities are expected to increase the adoption of stents by healthcare facilities.
The stent market in the Americas is advanced, driven by the presence of well-established and recognized manufacturers serving a diverse portfolio of stents and constantly upgrading their R&D to keep up with medical requirements. In the past few years, the U.S. Food & Drug Administration has provided multiple approvals for drug-eluting and cardiac stents, supporting further stent innovation in the region. The Asia-Pacific region is a mass provider of raw materials to Western nations and is occupied by trusted stent producers across India, China, and Japan. The country observes an improved reimbursement structure for heart surgeries and stent usage, and governments are working toward offering cost-effective stents to healthcare facilities. Europe has a more standardized stent market characterized by safety initiatives and research activities focused on introducing biodegradable stents. The Middle East region witnesses an exponential increase in investments in healthcare infrastructure advancements, creating the region a potential base for company expansion for market players.
The market dynamics represent an ever-changing landscape of the Stents Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
- Market Drivers
- Prevalence of cardiovascular diseases and need for improved-quality stents
- Growing inclination toward minimally invasive surgeries
- Surging preference for biodegradable and bioabsorbable stents
- Market Restraints
- Surging incidence of recalls of stent systems
- Market Opportunities
- Emerging innovations in stent designs for high accuracy and reliability
- The surge in product approvals from regulatory authorities
- Market Challenges
- Risks of the utilization of stents and associated health consequences
Type: High global incidences of coronary diseases necessitating the deployment of coronary stents
Coronary stents are used in procedures to open clogged heart arteries, playing a critical role in the treatment of coronary heart diseases. These stents are preferred for their minimally invasive nature and the significant improvement in patient outcomes they offer. Bare-metal stents are made of a metal alloy and act as a scaffold to keep the coronary artery open. After the stent is placed in the artery during a procedure known as angioplasty, the artery heals around the stent, maintaining the artery in an open position. Drug-eluting stents represent an advancement in stent technology. These stents are coated with a medication that is slowly released (eluted) into the artery wall to prevent scar tissue growth and, subsequently, restenosis. DES have significantly reduced the incidences of restenosis and the need for repeat interventions, making them the preferred choice in most stenting procedures. Peripheral vascular stents serve to treat peripheral artery disease (PAD), targeting arteries outside the heart and brain. They are essential in managing blood flow obstruction in limbs and preventing amputations. With an aging population and rising PAD prevalence, the demand is growing. Prostatic stents are primarily used to provide relief from urinary obstruction caused by benign prostatic hyperplasia (BPH). Their preference stems from being a less invasive alternative to surgery for patients unable or unwilling to undergo traditional procedures. Stent grafts are used in endovascular procedures to treat abdominal and thoracic aortic aneurysms. They are preferred due to their minimally invasive approach, which reduces recovery time and risk of complications compared to open surgery. Urinary stents are employed to ensure the passage of urine in cases of obstructions in the urinary tract. They are crucial in the management of kidney stones and other urological conditions. The preference for urinary stents lies in their role in preventing or treating renal failure.
End-User: Expansion of hospitals across the world supported by government initiatives for improving healthcare infrastructure
Ambulatory surgical centers (ASCs) represent a critical setting for stent procedures, offering outpatient services that typically focus on elective surgeries. ASCs are characterized by their efficiency, cost-effectiveness, and the convenience they offer to patients. ASCs primarily deal with less complex coronary and peripheral interventions. The preference for lightweight, easy-to-deploy, and high-precision stents is essential in this environment to minimize operative and recovery time. This makes drug-eluting stents (DES) highly favored in ASCs for their reduced risk of restenosis. Cardiac centers are specialized facilities focused exclusively on the diagnosis and treatment of heart conditions. They are equipped to perform a diverse range of stent placements, including more complex procedures that require advanced infrastructural capabilities, such as hybrid operating rooms. There's a demand for versatile stenting options in these centers, including bioresorbable vascular scaffolds (BVS) and bio-engineered stents, to cater to a diverse range of coronary artery diseases. Capability in treating complex cases, such as bifurcation lesions or chronic total occlusions, is crucial. Hospitals represent the broadest end-user sector, encompassing a wide range of capabilities. The versatility of hospital services and their capacity to manage high-volume cases has grown in recent years. The preference in hospitals leans toward stents that offer a combination of efficacy, versatility, and cost-effectiveness. There is also a notable requirement for stents that support a broad range of vessel sizes and lesion types, accommodating the diverse patient demographic.
The market disruption analysis delves into the core elements associated with market-influencing changes, including breakthrough technological advancements that introduce novel features, integration capabilities, regulatory shifts that could drive or restrain market growth, and the emergence of innovative market players challenging traditional paradigms. This analysis facilitates a competitive advantage by preparing players in the Stents Market to pre-emptively adapt to these market-influencing changes, enhances risk management by early identification of threats, informs calculated investment decisions, and drives innovation toward areas with the highest demand in the Stents Market.
The porter's five forces analysis offers a simple and powerful tool for understanding, identifying, and analyzing the position, situation, and power of the businesses in the Stents Market. This model is helpful for companies to understand the strength of their current competitive position and the position they are considering repositioning into. With a clear understanding of where power lies, businesses can take advantage of a situation of strength, improve weaknesses, and avoid taking wrong steps. The tool identifies whether new products, services, or companies have the potential to be profitable. In addition, it can be very informative when used to understand the balance of power in exceptional use cases.
The value chain of the Stents Market encompasses all intermediate value addition activities, including raw materials used, product inception, and final delivery, aiding in identifying competitive advantages and improvement areas. Critical path analysis of the <> market identifies task sequences crucial for timely project completion, aiding resource allocation and bottleneck identification. Value chain and critical path analysis methods optimize efficiency, improve quality, enhance competitiveness, and increase profitability. Value chain analysis targets production inefficiencies, and critical path analysis ensures project timeliness. These analyses facilitate businesses in making informed decisions, responding to market demands swiftly, and achieving sustainable growth by optimizing operations and maximizing resource utilization.
The pricing analysis comprehensively evaluates how a product or service is priced within the Stents Market. This evaluation encompasses various factors that impact the price of a product, including production costs, competition, demand, customer value perception, and changing margins. An essential aspect of this analysis is understanding price elasticity, which measures how sensitive the market for a product is to its price change. It provides insight into competitive pricing strategies, enabling businesses to position their products advantageously in the Stents Market.
The technology analysis involves evaluating the current and emerging technologies relevant to a specific industry or market. This analysis includes breakthrough trends across the value chain that directly define the future course of long-term profitability and overall advancement in the Stents Market.
The patent analysis involves evaluating patent filing trends, assessing patent ownership, analyzing the legal status and compliance, and collecting competitive intelligence from patents within the Stents Market and its parent industry. Analyzing the ownership of patents, assessing their legal status, and interpreting the patents to gather insights into competitors' technology strategies assist businesses in strategizing and optimizing product positioning and investment decisions.
The trade analysis of the Stents Market explores the complex interplay of import and export activities, emphasizing the critical role played by key trading nations. This analysis identifies geographical discrepancies in trade flows, offering a deep insight into regional disparities to identify geographic areas suitable for market expansion. A detailed analysis of the regulatory landscape focuses on tariffs, taxes, and customs procedures that significantly determine international trade flows. This analysis is crucial for understanding the overarching legal framework that businesses must navigate.
The regulatory framework analysis for the Stents Market is essential for ensuring legal compliance, managing risks, shaping business strategies, fostering innovation, protecting consumers, accessing markets, maintaining reputation, and managing stakeholder relations. Regulatory frameworks shape business strategies and expansion initiatives, guiding informed decision-making processes. Furthermore, this analysis uncovers avenues for innovation within existing regulations or by advocating for regulatory changes to foster innovation.
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Stents Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Stents Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Olympus to Acquire Korean Gastrointestinal Stent Company Taewoong Medical Co., Ltd.
Olympus announces cutting-edge products in the stent market, offering unparalleled precision and control. Its unique design leads to faster deployment time and a structured system that guarantees optimal safety while working with this device. These stents offer remarkable performance characteristics that can provide incredible medical benefits for those undergoing procedures for numerous medical conditions. With technology advancements, Olympus is committed to helping improve patients' lives worldwide. [Published On: 2023-02-24]
Medtech giant Cordis acquires MedAlliance in a USD 1.1 billion deal.
Medtech giant Cordis recently acquired Medalliance in a USD 1.1 billion deal, strengthening its grip in the stent market. The market for medical devices is rapidly growing owing to the surging demand for quality healthcare. This merger gives Cordis a significant competitive advantage in the global market and helps gain a larger share of the profits. By combining both companies' extensive expertise and resources, they will be able to meet consumer needs better and bolster their market presence. Cordis is now positioned to become a leading player in the world's stent market and is setting a high bar with this ambitious move that promises tangible results. [Published On: 2022-11-15]
Getinge partners with Medtronic for the manufacturing of the Radiant[TM] balloon-expandable covered stent.
Getinge, a medical device manufacturing industry leader, recently announced a collaboration with Medtronic. Through the partnership, Getinge assisted Medtronic in producing medical stents for the global market. Through this venture, Getinge expects to offer even more comprehensive care solutions that further streamline treatments and procedures while helping bring greater precision and accuracy in diagnostics and patient recovery. Both companies are taking great strides toward advancing patient services around the world. [Published On: 2022-09-20]
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Stents Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
The report delves into recent significant developments in the Stents Market, highlighting leading vendors and their innovative profiles. These include Alvimedica, Mitra Industries Pvt. Ltd., Lepu Medical Technology(Beijing)Co., Ltd., Abbott Laboratories, Elixir Medical Corporation, Andramed GmbH, QMD, MicroPort Scientific Corporation, Cook Medical LLC, Becton, Dickinson and Company, Integer Holdings Corporation, W. L. Gore & Associates, Inc., SLTL Group, Stryker Corporation, Arterius Limited, Meril Life Sciences Pvt. Ltd., BIOTRONIK SE & Co. KG, Eurocor Tech GmbH, Nano Therapeutics Pvt. Ltd., Scitech Medical Products SA, Balton Sp. z o. o., Cardinal Health Inc., Boston Scientific Corporation, KYOTO MEDICAL PLANNING Co., Ltd., Terumo Corporation, B. Braun SE, REVA Medical, LLC, Medtronic PLC, Rontis AG, and Veryan Medical Ltd..
This research report categorizes the Stents Market to forecast the revenues and analyze trends in each of the following sub-markets:
- Type
- Coronary Stents
- Bare-metal Stents
- Drug-eluting Stents
- Peripheral Vascular Stents
- Prostatic Stents
- Stent Grafts
- Urinary Stents
- Coronary Stents
- Material
- Biomaterials
- Metallic Stents
- Cobalt-Chromium
- Nickel Titanium
- Platinum Chromium
- Stainless Steel
- Mode of Delivery
- Balloon-expandable Stents
- Self-expanding Stents
- End-User
- Ambulatory Surgical Centers
- Cardiac Centers
- Hospitals
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
- Americas
- Market Penetration: This section thoroughly overviews the current market landscape, incorporating detailed data from key industry players.
- Market Development: The report examines potential growth prospects in emerging markets and assesses expansion opportunities in mature segments.
- Market Diversification: This includes detailed information on recent product launches, untapped geographic regions, recent industry developments, and strategic investments.
- Competitive Assessment & Intelligence: An in-depth analysis of the competitive landscape is conducted, covering market share, strategic approaches, product range, certifications, regulatory approvals, patent analysis, technology developments, and advancements in the manufacturing capabilities of leading market players.
- Product Development & Innovation: This section offers insights into upcoming technologies, research and development efforts, and notable advancements in product innovation.
- What is the current market size and projected growth?
- Which products, segments, applications, and regions offer promising investment opportunities?
- What are the prevailing technology trends and regulatory frameworks?
- What is the market share and positioning of the leading vendors?
- What revenue sources and strategic opportunities do vendors in the market consider when deciding to enter or exit?
- Preface
- Research Methodology
- Executive Summary
- Market Overview
- Market Insights
- Stents Market, by Type
- Stents Market, by Material
- Stents Market, by Mode of Delivery
- Stents Market, by End-User
- Americas Stents Market
- Asia-Pacific Stents Market
- Europe, Middle East & Africa Stents Market
- Competitive Landscape
- Competitive Portfolio
- List of Figures [Total: 24]
- List of Tables [Total: 556]
- List of Companies Mentioned [Total: 30]
Bioresorbable Stents:
Bioresorbable stents are an exciting innovation in stent technology that has revolutionized the way we treat cardiovascular diseases. Unlike traditional stents, bioresorbable stents are made of biodegradable materials that gradually dissolve over time, leaving behind no permanent implant in the body. These stents are designed to restore blood flow to the blocked artery for the time frame required for the artery to heal itself. This technology has significant benefits, lowering the risk of complications, such as blood clots and infection. Bioresorbable stents are likely to become the standard of care for certain coronary artery conditions in the future, although they are in the early stages of development.
Drug-Eluting Stents:
Drug-eluting stents are a more advanced version of traditional stents that release medication into the artery over time, preventing the formation of scar tissue and reducing the risk of restenosis, which is the re-narrowing of the artery after stent insertion. The drug coating on the stent is typically made up of compounds that inhibit cell proliferation, reducing the likelihood of blockages. This technology has the potential to mitigate the risk of restenosis significantly, leading to improved outcomes and overall quality of life for patients.
Polymer-Free Stents:
Polymer coatings have been used for years to help release drugs and help secure stents in place. However, the use of these coatings can also lead to inflammation, which can cause complications such as blood clots, thrombosis, and irritation. In response, polymer-free stents have been developed that do not require the use of these coatings, resulting in stents that are less likely to cause irritation and inflammation. This innovation in stent technology has significant benefits, particularly for patients who are prone to allergic reactions and those with diabetes or with other inflammatory conditions that could lead to complications.
Self-Expandable Stents:
Self-expandable stents are an emerging innovation in stent designs that are designed to be more accurate and reliable. These stents are designed to expand automatically when deployed in the artery rather than via an inflatable balloon or other manual means. The self-expanding stents provide an enhanced degree of accuracy, especially in areas where the blood vessels are very narrow. These stents have shown promising results in treating patients with peripheral artery disease and have the potential to transform the way we treat cardiovascular diseases.
Advanced stent technology is transforming the way we treat patients with cardiovascular diseases. Emerging innovations such as bioresorbable stents, drug-eluting stents, polymer-free stents, and self-expandable stents are leading the way in improving patient outcomes and overall quality of life. These innovations provide a glimpse into the future of stent technology, which promises to be more accurate, reliable, and less invasive. With these exciting new developments, the potential for treating cardiovascular diseases and providing patients with a healthy and fulfilling life has never been greater.
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