Medical Devices
US Coronary Stents Market Analysis
The US coronary stents market is projected to grow from $4.7 Bn in 2022 to $5.9 Bn by 2030, registering a CAGR of 2.75% during the forecast period of 2022-30. The US coronary stents market is driven by several factors, including the high prevalence of coronary artery disease (CAD) in the US, advances in stent technology, and increasing demand for minimally invasive procedures. The market is highly competitive, with several major players such as Abbott Laboratories, Boston Scientific Corporation, and Medtronic dominating the market. These companies invest heavily in research and development to develop innovative stent technologies that provide better outcomes for patients.
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US Coronary Stents Market Executive Summary
According to projections, the US Coronary Stents Market would increase from $4.7 Bn in 2022 to $5.9 Bn in 2030, exhibiting a CAGR of 2.75% from 2022 to 2030.
A significant portion of the US medical device market is made up of coronary stents. Coronary stents are minuscule mesh tubes that are put into constrictive or closed coronary arteries in order to maintain their openness and enhance blood flow to the heart muscle. Bare metal stents and drug-eluting stents are the two major varieties of coronary stents.
Some of the factors driving the US coronary stent market are:
- High incidence of Coronary Artery Disease (CAD) in the US
- Developments in stent technology, and
- Rising desire for less invasive treatments
The market is quite cutthroat, with a number of significant businesses dominating it, including Abbott Laboratories, Boston Scientific Company, and Medtronic. These businesses make significant investments in R&D to create cutting-edge stent technologies that improve patient outcomes.
Drug-eluting stents, which are coated with drugs to assist prevent restenosis (re-narrowing of the artery) after the stent is placed, has become more popular in recent years. It has been shown that drug-eluting stents lessen the need for follow-up treatments and enhance patient outcomes.
The FDA oversees the regulatory environment for coronary stents in the US and requires manufacturers to undergo clinical studies to show their stents are safe and effective before they can be authorized for use there. The FDA also keeps an eye on the security of stents after they have been authorized and has the power to order manufacturers to recall stents if security issues are discovered.
Overall, it is anticipated that the US coronary stents market would expand over the coming years, propelled by factors including rising demand for less invasive treatments and developments in stent technology.
Market Dynamics
Market Growth Drivers
- High incidence of coronary artery disease (CAD): Demand for coronary stents is fueled by the high prevalence of CAD, which is a significant cause of morbidity and death in the US. 18.2 million adult Americans have CAD, according to the American Heart Association.
- Newer and more sophisticated stent designs have been created that provide patients with better results as a result of ongoing research and development activities in the area of stent technology. Drug-eluting stents, bioresorbable stents, and next-generation stents are some of these developments.
- Growing demand for minimally invasive operations: Compared to typical open surgeries, minimally invasive techniques, including stenting, have a decreased risk of complications, a quicker recovery period, and a cheaper cost.
- Favorable reimbursement practices: The majority of commercial and public health insurance companies pay for coronary stent treatments, which has helped to raise demand for these procedures.
Competitive Landscape
Key Players
The market for coronary stents in the US is very competitive, with a few key firms controlling the industry. Some of the major companies in the US market for coronary stents are:
- Abbott Laboratories: A leader in the healthcare industry, Abbott Laboratories provides a variety of cardiovascular devices, including coronary stents. The Xience, Promus, and Absorb bioresorbable stents are among the company's selection of stents.
- Boston Scientific Corporation: Boston Scientific is a manufacturer and distributor of cardiovascular devices, such as coronary stents. The Promus, Synergy, and Eluvia stents are all part of the company's line of stents.
- Medtronic: A leading provider of cardiovascular goods, including coronary stents, the corporation operates on a worldwide scale. The Resolute, Integrity, and Promus stents are among the company's selection of stents.
- Terumo Company: A Japanese manufacturer of medical devices, Terumo Corporation provides a variety of cardiovascular goods, including coronary stents. The Ultimaster and Nobori drug-eluting stents are part of the company's line of stents.
- MicroPort Scientific Company: A Chinese manufacturer of medical devices, MicroPort Scientific Corporation provides a variety of cardiovascular products, including coronary stents. The Firehawk drug-eluting stent is part of the company's line of stents.
- Biosensors International Group: Based in Singapore, Biosensors International Group manufactures a variety of cardiovascular devices, including coronary stents. The BioFreedom drug-coated stent is one of the company's available stent options.
These businesses make significant investments in R&D to create cutting-edge stent technologies that improve patient outcomes. To preserve and increase their market share, they also compete on criteria including product performance, price, and distribution tactics.
1. Report Description of the US Coronary Stents Market
1.1 Research Scope and Assumption
1.2 Objective of the study
1.3 Research Methodology
1.4 Reason to buy the report
2. US Coronary Stents Market Executive Summary
2.1 US Coronary Stents Market – Industry Snapshot & key buying criteria, 2022-2030
2.2 Market Size, Growth Prospects, and Key findings
3. Market Dynamics of the US Coronary Stents Market
3.1 Market Growth Drivers Analysis
3.2 Market Restrains Analysis
4. US Coronary Stents Market Segmentation
4.1 By Type
4.1.1 Bare-metal Stents
4.2.1 Drug-eluting Stents
4.3.2 Bioabsorbable Stents
4.2 By Mode of Delivery
4.2.1 Balloon-expandable Stents
4.2.2 Self-expanding Stents
4.3 By Materials
4.3.1 Metallic Stents
4.3.2 Cobalt Chromium
4.3.3 Platinum Chromium
4.3.4 Nickel Titanium
4.3.5 Stainless Steel
4.3.6 Other Stents
4.4 By End User
4.4.1 Hospitals
4.4.2 Cardiac Centers
?4.4.3 Ambulatory Surgical Centers
5. US Coronary Stents Market Share
5.1 Market Analysis, Insights, and Forecast – By Revenue
6. Competitive Landscape
6.1 Major Top Market Players
7. Key Company Profiles
7.1 Company 1
7.1.1 Overview
7.1.2 Financial Performance
7.1.3 Product & Services
7.1.4 Strategic initiatives
7.2 Company 2
7.2.1 Overview
7.2.2 Financial Performance
7.2.3 Product & Services
7.2.4 Strategic initiatives
7.3 Company 3
7.3.1 Overview
7.3.2 Financial Performance
7.3.3 Product & Services
7.3.4 Strategic initiatives
7.4 Company 4
7.4.1 Overview
7.4.2 Financial Performance
7.4.3 Product & Services
7.4.4 Strategic initiatives
7.5 Company 5
7.5.1 Overview
7.5.2 Financial Performance
7.5.3 Product & Services
7.5.4 Strategic initiatives
8. Healthcare Policies and Regulatory Landscape
8.1 Healthcare Policies in the US
8.2 Regulatory Framework in the US
8.3 Pricing & Reimbursement Scenario in US Coronary Stents Market
9. Factors Driving Future Growth
9.1 New Trends and Development US Coronary Stents Market
9.2 Future Opportunities
10. Strategic Recommendations
Coronary Stents Market Segmentation
By Type (Revenue, USD Billion):
The three main categories of coronary stents are bare-metal, drug-eluting, and bioabsorbable, depending on their nature. The segment for bioabsorbable stents is anticipated to increase at the fastest rate over the forecast period. The benefits that are encouraging the use of bioabsorbable stents include a decrease in problems including thrombosis and inflammation, the cUSity to restore normal vasomotion, and an improvement in aberrant endothelial function. However, in the upcoming years, the expansion of this market segment is anticipated to be constrained by the high cost of bioabsorbable stents.
- Bare-metal Stents
- Drug-eluting Stents
- Bioabsorbable Stents
By Mode of Delivery (Revenue, USD Billion):
The market is divided into self-expanding and balloon-expandable stents according to delivery method. Because of the high use of these stents, rising research initiatives to advance the technology, and rising regulatory approvals for balloon-expandable stents, the balloon expandable stents segment is anticipated to increase at the greatest CAGR over the projection period.
- Balloon-expandable Stents
- Self-expanding Stents
By Materials (Revenue, USD Billion):
The coronary stent market is divided into metallic (cobalt chromium, platinum chromium, nickel-titanium, and stainless steel) and other stents according to the material. The market for other stents is anticipated to experience the largest CAGR growth during the projection period. The rapid expansion of this market can be ascribed to the increased use of polymers and copolymers in the production of bioabsorbable stents.
- Metallic Stents
- Cobalt-Chromium
- Platinum Chromium
- Nickel Titanium
- Stainless Steel
- Other Stents
By End User (Revenue, USD Billion):
The coronary stent market is divided into hospitals, cardiac centres, and ambulatory surgical centres based on the end user. According to predictions, the hospital sector will control the market in 2016. This is primarily caused by hospitals using a lot of coronary stents.
- Hospitals
- Cardiac Centers
- Ambulatory Surgical Centers
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- Reimbursement Scenario
- Factors Driving Future Growth
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