Global Coronary Stents Market to Top $15B by 2030

The worldwide coronary stents market is primed for solid growth this decade, despite an initial setback from the global pandemic.

According to Allied Market Research data, the global coronary stents market generated $8.8 billion in 2020, and is projected to reach $15.4 billion by 2030 expanding 6 percent annually from 2021 to 2030. A surge in the number of coronary artery diseases, impressive patient results with stenting, and persistent enhancements in coronary artery stents are expected to drive the market’s growth. However, the extortionate cost of coronary stent procedures could hinder the growth to some extent. Nevertheless, a significant surge in demand for coronary stents in developing countries is likely to provide lucrative growth opportunities.
 
The COVID-19 outbreak has had a negative impact on the market due to lockdowns in various countries. The global lockdown adversely disrupted the workflow in the healthcare sector as most of the percutaneous coronary intervention (PCI) procedures were consequently shifted and delayed up to six months. But the market is expected to recoup soon.
 
Based on product, the drug-eluting stents segment generated the highest market share in 2020, garnering nearly three-fourths of the global coronary stents market. The same segment is expected to cite the fastest compound annual growth rate (CAGR) of 6.45 percent during the forecast period.
 
Based on biomaterial, the metallic biomaterials held the majority market share in 2020, accounting for nearly three-fourths of the global coronary stents market. The natural biomaterial, on the other hand, is expected to exhibit the fastest CAGR of 7.31 percent during the forecast period.
 
Based on region, the market across North America held the lion’s share in 2020, garnering nearly two-fifths of the global coronary stents market. The Asia-Pacific region, on the other hand, is expected to cite the fastest CAGR of 6.7 percent during the forecast period.
 
Key players analyzed in the global coronary stents market report include Terumo Corporation, Medtronic plc., Biotronik SE & Co. KG, Abbott Laboratories, B. Braun Melsungen AG, Boston Scientific Corporation, Biosensors International Group Ltd., Elixir Medical Corporation, Becton Dickinson and Company, and Microport Scientific Corporation.