Stent Market Trends and Forecast
Lucintel finds, the future of the global stent market looks promising with opportunities in the segments of hospital and ambulatory surgical centers. The global stent market is expected to reach an estimated $24 billion by 2030, and it is forecast to grow at a CAGR of 5% from 2024 to 2030. The major growth drivers for this market are increasing interventional cardiology and peripheral vascular procedures and rising adoption of technological advancements in an effort to reduce treatment duration for high risk conventional surgical patients.
Stents are medical devices used to treat narrowed or weakened arteries or other passages in the body. They are typically made from materials such as stainless steel, cobalt-chromium alloy, or nickel-titanium alloy (Nitinol). These metals provide the stent with strength, flexibility, and corrosion resistance necessary for implantation in the body. Some stents may also incorporate polymers to coat the metal framework, which can help with drug delivery in drug-eluting stents or enhance biocompatibility. The design and materials used in stents are critical to ensure proper functioning, durability, and compatibility with the body's tissues. The price of stents can vary significantly depending on several factors, including the type of stent (bare-metal or drug-eluting), the material used, and the manufacturer. Generally, bare-metal stents are less expensive, typically ranging from $500 to $2,000 per stent, while drug-eluting stents, which release medication to prevent tissue growth, are more costly, ranging from $1,000 to $5,000 or more per stent. Prices can also vary based on geographic location, hospital pricing agreements, and insurance coverage. Competition in the stent market has driven manufacturers to offer competitive pricing strategies and innovative designs, aiming to balance cost-effectiveness with advanced medical benefits such as reduced restenosis rates and improved patient outcomes.
• Lucintel forecasts that the coronary stent segment will show above average growth during the forecast period due to increasing cases of cardiovascular disorders.
• Within the global stent market, the drug eluting stent segment will remain the largest market by technology during the forecast period due to low restenosis rate after surgery. Bioreabsorbable stent is expected to witness the highest growth during the forecast period due to its property of getting absorbed in the body.
• By material, the global stent market is segmented into metal and polymer. The polymer segment is expected to remain the largest segment in the forecast period.
• North America is expected to remain the largest market during the forecast period mainly due to its well-developed healthcare infrastructure and continued technological advancements across the healthcare industry.
Country Wise Outlook for the Stent Market
Below image highlights recent developments by major stent market producers in key regions: the USA, EU, China, India, Japan, and South America.
Emerging Trends in the Stent Market
Emerging trends in the stent market shaping its future applications and market dynamics:
• Increasing use of Bioabsorbable Stents: Growing interest in bioabsorbable stents that gradually dissolve in the body after fulfilling their purpose, potentially reducing long-term complications associated with permanent implants.
• Drug-Eluting Stents: Continued advancements in drug-eluting stents with improved drug delivery systems, aiming to enhance efficacy in preventing restenosis while minimizing side effects.
• Personalized Medicine: Increasing focus on personalized stents tailored to individual patient anatomy and conditions, utilizing advanced imaging and 3D printing technologies for custom manufacturing.
• Minimally Invasive Techniques: Development of stents compatible with minimally invasive procedures, reducing recovery times and hospital stays, and improving patient comfort.
• Enhanced Biocompatibility: Innovation in stent materials and coatings to improve biocompatibility, reduce inflammation, and promote faster tissue healing, thereby improving overall patient outcomes.
A more than150 pages has been developed to help in your business decisions. Sample figures with some insights are shown below.
Recent Developments by the Stent Market Suppliers
Recent developments in stent by various companies highlight ongoing innovations and advancements across different sectors:
• Biodegradable Stents: Advancements in biodegradable stent technology, which dissolve over time, reducing long-term risks associated with traditional metal stents.
• Drug-Eluting Stents: Continued innovations in drug-eluting stents that release medication to prevent restenosis (re-narrowing of arteries) and improve patient outcomes post-surgery.
• Next-Generation Materials: Introduction of stents made from novel materials such as bioresorbable polymers and alloys with improved biocompatibility and flexibility.
• Precision Medicine Approaches: Adoption of personalized medicine approaches to tailor stent selection based on individual patient characteristics and genetic factors.
• Minimally Invasive Techniques: Development of minimally invasive techniques for stent placement, reducing recovery times and complications for patients undergoing cardiovascular procedures.
Strategic Growth Opportunities for Stent Market
The stent market is very dynamic due to its unique properties of being include advanced ergonomic designs, compatibility with imaging technologies, and customizable features tailored to diverse surgical specialties. Some key strategic growth opportunities for this market include:
Expansion in Emerging Markets
• Penetrating untapped regions with rising healthcare expenditure and increasing prevalence of cardiovascular diseases presents significant growth potential.
Technological Advancements
• Investing in research and development to innovate next-generation stents with enhanced biocompatibility, durability, and drug-delivery capabilities.
Focus on Biodegradable and Drug-Eluting Stents
• Meeting the demand for biodegradable stents that dissolve over time and drug-eluting stents that minimize restenosis rates through continuous innovation.
Partnerships and Collaborations
• Forming strategic alliances with healthcare providers, research institutions, and regulatory bodies to accelerate product development, market access, and regulatory approval processes.
Patient Education and Awareness
• Educating healthcare professionals and patients about the benefits of advanced stent technologies and treatment options to drive adoption and market growth.
Stent Market Driver and Challenges
The stent market plays a pivotal role across various industries, primarily within healthcare and medical sectors. In hospitals and surgical centers, these tables are essential equipment for conducting a wide range of surgical procedures, ensuring optimal patient positioning and surgical precision. Moreover, they support advancements in minimally invasive surgeries and robotic-assisted procedures, contributing to improved patient outcomes and operational efficiency. Beyond healthcare, manufacturers and suppliers of stents also cater to research institutions and training facilities, where these tables are integral to medical education, simulation, and research activities, thereby influencing advancements in medical practices globally.
The factors responsible for driving the stent market include:
1. Increasing Prevalence of Cardiovascular Diseases: Rising incidence of cardiovascular disorders globally, driven by aging populations, sedentary lifestyles, and unhealthy diets, boosts the demand for stent procedures.
2. Technological Advancements in Stent Design: Continuous innovation in stent materials, coatings, and delivery systems improves efficacy, safety, and patient outcomes, driving market growth.
3. Growing Aging Population: Aging demographics globally contribute to higher rates of coronary artery diseases and related conditions, increasing the need for stent placements.
4. Rising Healthcare Expenditure: Increasing healthcare spending in developed and emerging economies supports greater access to advanced cardiovascular treatments, including stent procedures.
5. Demand for Minimally Invasive Procedures: Preference for minimally invasive surgical techniques, such as percutaneous coronary interventions (PCI), promotes the adoption of stent placement as a less invasive alternative to traditional open-heart surgeries.
6. Regulatory Support and Approval: Supportive regulatory frameworks and faster approval processes for innovative stent technologies encourage market expansion and adoption by healthcare providers and patients alike.
Challenges facing the stent market are:
1. Regulatory Hurdles: Stringent regulatory requirements for approval of new stent technologies and variations across different regions can delay market entry and increase costs.
2. Competition and Pricing Pressures: Intense competition among stent manufacturers leads to pricing pressures, affecting profit margins and market share.
3. Clinical Efficacy and Safety Concerns: Addressing concerns related to long-term efficacy, safety, and potential complications associated with stent implantation remains a critical challenge.
4. Technological Complexity: Developing and maintaining advanced stent technologies, including biodegradable and drug-eluting stents, requires substantial investment in research and development.
5. Healthcare Reimbursement Issues: Variations in reimbursement policies and rates for stent procedures across different healthcare systems impact market access and adoption rates.
Stent Suppliers and their Market Shares
In this globally competitive market, several key players such as Abbott Laboratories, Medtronic plc, Boston Scientific Corporation, Terumo Corporation, Johnson & Johnson, etc. dominate the market and contribute to industry’s growth and innovation. These players capture maximum market share. To know the current market share of each of major players contact us.
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies medical device companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the stent companies profiled in this report includes.
• Abbott Laboratory
• Boston Scientific
• Medtronic public limited company
• C R Bard
• Cook Medical Inc.
• Terumo Corporation
• Cardinal Health
These companies have established themselves as leaders in the stent market, with extensive product portfolios, global presence, and strong research and development capabilities. They continually strive to enhance their market positions through strategic partnerships, mergers and acquisitions, and product innovations.
The market share dynamics within the stent market are evolving, with the entry of new players and the emergence of innovative stent market technologies. Additionally, collaborations between material suppliers, manufacturers, and end-users are fostering technological advancements and expanding market opportunities.
Stent Market by Segment
The major growing segment in the stent market is peripheral vascular stents. This growth is largely attributed to the rising prevalence of peripheral artery disease (PAD) and the increasing aging population, which is more prone to vascular conditions. Peripheral vascular stents are crucial for treating PAD, as they help restore proper blood flow in narrowed or blocked peripheral arteries, reducing the risk of complications such as ulcers or amputations. Advances in stent technology, including the development of drug-eluting and bioresorbable stents, have also enhanced treatment outcomes and driven adoption in this segment. The expanding use of minimally invasive procedures and the growing awareness of peripheral vascular diseases further contribute to the robust growth of peripheral vascular stents.
This stent market report provides a comprehensive analysis of the market's current trends, growth drivers, challenges, and future prospects in all major segments like above. It covers various segments including product type, material, and technology. The report offers insights into regional dynamics, highlighting the major markets for stent market and their growth potentials. The study includes trends and forecast for the global stent market by product type, material, technology, and region as follows:
Stent Market By Product Type [Value ($ Million) and Volume (Million Units) from 2018 to 2030]:
• Coronary Stents
• Peripheral Vascular Stents
Stent Market By Material [Value ($ Million) and Volume (Million Units) from 2018 to 2030]:
• Metal
• Polymer
Stent Market By Technology [Value ($ Million) and Volume (Million Units) from 2018 to 2030]:
• Bare Metal Stents
• Drug Eluting Stents
• Bioreabsorbable Stents
Stent Market By End Use [$M shipment analysis from 2018 to 2030]:
• Hospital
• Ambulatory Surgical Center
Stent Market By Region [Value ($ Million) and Volume (Million Units) from 2018 to 2030]:
• North America
o United States
o Canada
o Mexico
• Europe
o Germany
o France
o United Kingdom
o Italy
o Spain
• APAC
o China
o India
o Japan
• ROW
o Brazil
Features of the Stent Market
• Market Size Estimates: Stent market size estimation in terms of value ($M).
• Trend and Forecast Analysis: Market trends (2018-2023) and forecast (2024-2030) by various segments and regions.
• Segmentation Analysis: Stent market size by various segments, such as product type, material, technology, and end use.
• Regional Analysis: Stent market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis on growth opportunities in different product type, material, technology, end use, and regions for stent market.
• Strategic Analysis: This includes M&A and competitive landscape for the stent.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
If you are looking to expand your business in stent markets, then contact us. We have done hundreds of strategic consulting projects in market entry, opportunity screening, due diligence, supply chain analysis, M & A, and more.
FAQ
Q1. What is the market size of stents?
Answer: The global stent market is expected to reach an estimated $24 billion by 2030.
Q2. What is the growth forecast for stent market?
Answer: The stent market is expected to grow at a CAGR of 5% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the stent market?
Answer: The major growth drivers for this market are increasing interventional cardiology and peripheral vascular procedures and rising adoption of technological advancements in an effort to reduce treatment duration for high risk conventional surgical patients.
Q4. What are the major applications or end use industries for stent?
Answer: Hospital and ambulatory surgical center are the major end use for stent
Q5. What are the emerging trends in stent market?
Answer: Emerging trends which have a direct impact on the dynamics of the market include Growing interest in bioabsorbable stents that gradually dissolve in the body after fulfilling their purpose, potentially reducing long-term complications associated with permanent implants.
Q6. Which are the key players in stents market?
Answer: Some of the key stent companies are as follows:
• Abbott Laboratory
• Boston Scientific
• Medtronic public limited company
• C R Bard
• Cook Medical Inc.
• Terumo Corporation
• Cardinal Health
Q7.Which stent product segment will be the largest in future?
Answer: Lucintel forecasts that the coronary stent segment will show above average growth during the forecast period due to increasing cases of cardiovascular disorders.
Q8. In stent market, which region is expected to be the largest in next 5 years?
Answer: North America will remain the largest region and is expected to witness the highest growth over next 5 years
Q9. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.
This report answers following 11 key questions
Q.1 What are some of the most promising potential, high-growth opportunities for the stent market by product type (coronary stent and peripheral vascular stent), material (metal and polymer), technology (bare metal stent, drug eluting stent, and bioreabsorbable stent), end use (hospital and ambulatory surgical center), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the stent market?
Q.5 What are the business risks and threats to the stent market?
Q.6 What are emerging trends in this stent market and the reasons behind them?
Q.7 What are some changing demands of customers in the stent market?
Q.8 What are the new developments in the stent market? Which companies are leading these developments?
Q.9 Who are the major players in the stent market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in the stent market, and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M&A activities did take place in the last five years in the stent market?
For any questions related to stent market or related to stent market share, stent market analysis,