Coronary Stents Market Analysis and Forecasts to 2025

The coronary stents market has been thoroughly analyzed and segmented based on various criteria including type, absorption rate, material, and end-users. The classification of stents by type includes biodegradable stents, bare metal stents, and drug-eluting stents. Furthermore, stents can be categorized according to their absorption rates into slow absorption rate and fast absorption rate stents. The materials used in the production of these stents encompass nitinol, polymers, gold, tantalum, nickel, stainless steel, and cobalt metal alloys. Additionally, the end-users of coronary stents are identified as hospitals, ambulatory surgical centers, and cardiac care facilities. Geographically, the market is divided into regions such as North America, Europe, Asia Pacific, the Middle East and Africa, and South and Central America.

By the end of 2025, the coronary stents market is projected to reach approximately US$ 13,879.0 million, reflecting a compound annual growth rate (CAGR) of 7.8% from 2018 to 2025, up from US$ 7,619.4 million in 2017. This anticipated growth is primarily driven by the increasing incidence of coronary artery diseases, advancements in technology, and a growing elderly population. However, the market's expansion faces challenges due to stringent regulations and the approval processes for stents. Each phase of clinical trials rigorously assesses the safety and efficacy of the stents, which may hinder market growth in the near future.

The regulatory framework for manufacturing coronary stents involves multiple stages, with each stent undergoing thorough evaluations for safety and effectiveness. The clinical trials for drug-eluting stents focus on confirming their safety and utility, necessitating that the study designs meet specific safety and accuracy criteria. It is crucial for manufacturers to ensure the proper functioning of stents at every stage of clinical testing. Additionally, long-term clinical follow-ups, often extending to five years post-approval, are recommended, which can further complicate the market landscape.

Despite these challenges, several factors are expected to stimulate growth in the coronary stents market. Notably, the decreasing costs associated with coronary stents are likely to enhance market dynamics. For example, in February 2018, the National Pharmaceuticals Pricing Authority (NPPA) in India adjusted the price of bare metal stents (BES) to US$ 116.03 (INR 7,660.0), down from US$ 109.97 (INR 7,260.0). Additionally, the prices for drug-eluting and biodegradable stents were reduced to US$ 422.47 (INR 27,890.0) from US$ 448.37 (INR 29,600.0). The NPPA also revised prices for essential accessories used in stenting procedures, including cardiac guide wires, balloon catheters, guiding wires, cardiac drug-eluting balloons, cutting balloons, and guiding catheters.

The Asia Pacific region has emerged as a significant area for growth in the coronary stents market. Factors contributing to this trend include the increasing interest of industry players in countries like India and Japan, as well as a rise in funding and grants in China, which are likely to drive market expansion.

The competitive landscape of the coronary stents market features a mix of established companies and emerging players. Notable organizations in this sector include Microport Scientific Corporation, Medtronic PLC, Biosensors International Group, Ltd., Abbott Laboratories, Vascular Concepts Limited, Biotronik SE & Co. Kg, Stentys SA, B. Braun Melsungen AG, Translumina GmbH, and Terumo Corporation. These companies are actively involved in the development and distribution of coronary stents, contributing to the overall growth and innovation within the market.

In conclusion, the coronary stents market is poised for significant growth driven by various factors, including technological advancements and increasing healthcare needs. However, the stringent regulatory environment poses challenges that must be navigated carefully by manufacturers and stakeholders in the industry.