Cardiac Stent Market - Size, Share, Industry Trends, and Forecasts (2024 - 2031)

Key Drivers :

Rising incidences of coronary artery diseases worldwide are fostering a significant demand for cardiac stents

The surging prevalence of coronary artery disorders, also known as coronary heart disease or ischemic heart disease is one of the prominent reasons fuelling the cardiac stent market demand. The underlying cause of coronary artery disease is atherosclerosis, which is characterized by the formation of luminal plaques of cholesterol and other substances. These plaques build up in the walls of the coronary arteries that supply blood to the heart and other parts of the body. Plaque buildup causes the inside of the arteries to narrow over time, which partially or blocks the blood flow. To procure this, a procedure called coronary angioplasty is performed to widen blocked or narrowed coronary arteries. In this procedure, coronary stents are utilized to treat an aneurysm, which is a bulge in the wall of an artery and allows the blood to move freely.

Furthermore, as per the analysis, the rising incidences of coronary artery diseases are propelling the trends for these stents or angioplasty procedures in cardiovascular disorders. For instance, according to the data published by the Centers for Disease Control and Prevention in May 2023, coronary heart disease is the most common type of heart disease, killing 375,476 people in 2021, an estimated about 2 in 10 deaths in adults less than 65 years old. Similarly, according to the report published by the National Institute of Health in October 2021, about 366,000 Americans die from coronary heart disease every year. As a result, an unprecedented rise in coronary artery disease incidence is boosting the trends for effective coronary stents for treatment.

The growing adoption of minimally invasive procedures for the surgical treatment of cardiovascular disorders is fueling the market growth.

The rising adoption of minimally invasive techniques for disease treatment assits as the potential factor fuelling the cardiac stent market demand. Stenting is a minimally invasive procedure, meaning it does not require a large, open incision in the body and is not considered major surgery. Minimally invasive coronary artery stenting offers several advantages over open heart surgery such as being less risky, reducing pain, and having shorter recovery times, as compared to traditional invasive heart surgery. This makes utilization of these stents more appealing to patients and clinicians alike.

Moreover, as per the analysis, the increasing approval of this minimally invasive stent by regulatory agencies is boosting the market expansion. For instance, in May 2022, the U.S. Food and Drug Administration approved the Onyx Frontier™ drug-eluting stent (DES) developed by Medtronic plc, a global leader in healthcare technology. The Onyx Frontier DES is approved in healthcare facilities to perform a minimally invasive procedure for the treatment of patients with coronary artery disease. Onyx Frontier DES is designed to improve deliverability and increase acute performance in even the most challenging of cases. Thus, the increasing trends for minimally invasive procedures along with the increasing innovations in these stents are propelling the market growth worldwide.

Key Restraints :

Potential risks associated with cardiac stents pose a significant threat to the market

Cardiac stents are complex devices that require careful design, advanced technology, and precision manufacturing to ensure that they meet the highest safety standards. The stent is often associated with certain major risks such as product failure, procedure recall, and health complications. Additionally, the stenting procedure includes risks such as allergic reactions to the drugs and contrast dye used during the procedure, damage to the blood vessels, rupture and burst of an aortic aneurysm, among others.

Moreover, the formation of blood clots within the treated blood vessel increases the risk of complications post-surgery operation leading to the recall of the procedure which further inhibits the trends for these stent. As a result, as per the analysis, the risks associated with these stents lower the adoption of the equipment across cardiac patients and thus hinder the growth of the market.

Future Opportunities :

Technological advancements in cardiac stents are increasing the opportunities for market expansion

The requirement for more convenient and safer solutions for angioplasty has motivated the rise in the development of stents with improved patient safety and functionality, thus creating lucrative opportunities and market trends. Continuous innovation in these stents is leading to the development of more sophisticated and effective stents for medical procedures in coronary artery disorders. Innovations in these stents such as drug-eluting stents, the use of biodegradable polymers, and bioresorbable scaffold systems are expected to propel the cardiac stent market. These advancements provide improved flexibility, and deliverability over traditional bare metal stents, and dissolve completely over time leaving no permanent implant in the artery.

Moreover, based on the analysis, innovations in product development by the leading companies may increase the competition in the market leading to the development of more advanced stents. For instance, in September 2023, Zeus, a global leader in advanced polymer solutions, announced the development of Absorv™ XSE oriented tubing for bioabsorbable products. Available in a variety of resins and expanded size ranges, Absorv XSE provides a highly customizable platform for design and offers an alternative to metallic products implanted permanently in the human body. Thus, a consistent need to come up with innovative technologies is expected to create market opportunities and trends.

Cardiac Stent Market Segmental Analysis :

Cardiac Stent Market Regional Analysis:

The regional segment includes North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.

In 2023, North America accounted for the highest market share at 38.55% valued at USD 2,932.28 Million in 2023, it is expected to reach USD 4,757.40 Million in 2031. In North America, the U.S. accounted for a major market share of 64.25% in the year 2023. As per the cardiac stent market analysis, the changing lifestyle of the consumers in the region is increasing the risk of obesity and atherosclerosis which contribute as the risk factors for coronary artery disorders promoting the incidences of coronary artery disorders across the region. This high prevalence of disease is propelling the demand for more advanced stents for surgical treatments. Additionally, the presence of advanced healthcare infrastructure, the accessibility of advanced medical systems, and the high adoption rate of new technologies in the region are substantially boosting the expansion of the market. Overall, the rising prevalence of cardiovascular disorders and the advancements in healthcare facilities are propelling the market in North America.

Furthermore, the Asia Pacific region is expected to witness significant growth over the forecast period, growing at a CAGR of 7.2 % during the forecast year. The increasing prevalence of cardiovascular diseases in the region, and the increasing population in regions like India and China, are driving the market growth. Additionally, increasing initiatives by the governments of countries for better healthcare and public healthcare spending are expected to boost the market in this region. For instance, according to the data published by the India Brand Equity Foundation, in October 2023, the Indian government is planning to introduce a credit incentive program worth USD 6.8 billion to boost the country's healthcare infrastructure. Additionally, India's public expenditure on healthcare touched 2.1 % of GDP in 2023 and 2.2% in 2022, compared to 1.6% in 2021. As a result, increased government initiatives to provide better healthcare are expected to witness substantial market growth opportunities for these stents in the Asia Pacific region.