Global stents market is projected to witness a CAGR of 6.05% during the forecast period 2024-2031, growing from USD 12.69 billion in 2023 to USD 20.31 billion in 2031. The market’s growth is supported by the rising cases of cardiovascular diseases and disorders, increasing efforts by the market players to introduce novel products, expansion of the geriatric population, and technological advancements in stent design. Small mesh-like devices are inserted in veins and arteries to keep them open and allow unrestricted fluid and blood flow. Stents are commonly used for treating conditions such as peripheral artery disease and coronary artery disease, among other blockages that can often result in life-threatening complications.
The introduction of new stents to avoid a series of heart operations that were previously considered unavoidable is providing lucrative growth opportunities for the market. In October 2024, the Food and Drug Administration (FDA) approved a stent designed specifically for young children and infants to aid kids born with congenital heart defects in avoiding a series of open-heart operations. Usually, when young children and infants require stents, surgeons modify or trim adult-size stents and squeeze them into the vessels of the infants’ hearts, which are approximately the size of a walnut. This method was not ideal as when the child grows older, their blood vessels get bigger, leading to the stents getting replaced in an open-heart surgery. The Minima stent, produced by RENATA MEDICAL, is designed to grow as the child grows, eliminating the surgery requirement. The FDA has also approved it for treating two heart conditions, i.e., stenosis and coarctation.
With increasing lifestyle changes and the growth of the aging population, the occurrence of heart diseases is increasing in different regions across the globe, positively influencing the expansion of the stents market.
Expansion of Geriatric Population to Boost Market Demand
The rapid growth of the aging population is one of the major factors augmenting the requirement for stents from different regions across the globe. As per the estimates of the World Health Organization (WHO), approximately 17.9 million individuals across the globe die from cardiovascular diseases every year. Aging increases the risk of cardiovascular diseases, such as coronary artery disease, atherosclerosis, and hypertension, propelling the requirement for medical intervention and equipment for effective management of heart-related issues. Due to the minimally invasive nature of stenting procedures, they are preferred for older patients who might not be suitable for open heart surgeries due to various age-related complications. Coronary stenting is usually preferred for older people as it allows faster recovery of patients, shorter hospital stays, and minimally invasive alternatives to open heart procedures. The surgical procedures become risky with age, especially if the patients are suffering from coronary artery disease, along with other chronic conditions such as high blood pressure and diabetes. Thus, minimally invasive procedures, including stenting and coronary angioplasty, are more beneficial in elderly patients.
Increasing Investments to Support Market Expansion
The continuous innovations and technological advancements in stent design and manufacturing are providing lucrative growth opportunities to the global stents market. Various medical device companies are actively working on raising investments to propel the development of novel treatment solutions for different cardiac conditions. In February 2024, CeroFlo, an Irish medical device company, announced that they had raised approximately USD 6.9 million (EUR 6.4 million) in investment round funding to advance the development of their novel stent, SubMax device, intended to revolutionize intracranial atherosclerotic disease treatments. The company announced that the funds will aid them in supporting first-in-human clinical trials across thirty patients. Such investments are expected to propel the development and availability of novel technologies, providing lucrative growth opportunities to the market.
Additionally, increasing investments are aiding the leading medical device companies in producing stents that are compatible with the complex anatomical structure of the heart, allowing healthcare professionals to provide customized treatments for patients with varying requirements.
Coronary Stenting to Account for a Significant Market Share
The rising investments by medical device companies in research and development activities for coronary stents are supporting the segment’s expansion. The increasing efforts by the leading market players to ensure the availability of coronary stent systems in different regions across the globe are boosting the segment’s growth. Additionally, the growing research activities for managing coronary artery perforations further aid the segment’s growth. Research institutions across the globe are working on developing a bioresorbable polymer membrane to seal coronary artery perforations effectively. Such coatings could effectively correct symptomatic aneurysms and mitigate neointimal hyperplasia in the vascular lumen.
Coronary stents, including drug-eluting stunts, are increasingly being deployed to treat narrowed or blocked arteries caused by plaque buildup. Additionally, the minimally invasive nature of coronary stenting is bolstering its adoption and providing lucrative growth opportunities to the market. The shorter recovery time, lower risk of complications, and reduced hospital stays associated with the stenting procedure drive the market’s demand.
North America to Hold Major Market Share
The increasing awareness among the general population about cardiovascular health, the presence of well-established healthcare infrastructure, and the expansion of the geriatric population are some of the major factors bolstering the growth of the North America stents market. The rising cases of cardiovascular diseases are propelling the market’s expansion. According to the estimates by the US Centers for Disease Control and Prevention, 702,880 individuals died from heart disease in 2022. Additionally, the increasing efforts by key market players and research organizations boost the development of innovative devices for different cardiac conditions, providing lucrative growth opportunities to the market.
Meanwhile, the Asia-Pacific market is expected to witness significant growth over the forecast period as an increasing number of patients undergo stenting procedures in countries such as Japan, India, and China due to the expansion of insurance coverage and accessibility to affordable healthcare solutions. Furthermore, the rising awareness about heart health and the importance of regular health checkups and early treatments is propelling the demand for stenting procedures in the region. To meet the rising requirements, local manufacturers are stepping up and producing cost-effective options to increase the accessibility of the procedure for a wider population base.
Future Market Scenario (2024-2031F)
The market is expected to witness significant growth in the forecast years due to the increasing prevalence of cardiovascular diseases, rising partnerships between leading healthcare companies, and growing emphasis on innovation and novel product development. The growing awareness about cardiovascular health and the rapid expansion of the geriatric population is expected to provide lucrative growth opportunities for the market. As per the estimates of the WHO, one in six people across the globe will be 60 years or older by 2030.
Additionally, the market is expected to witness significant growth as different emerging economies, such as South America and Asia-Pacific, invest in improving their healthcare infrastructure. The key market players are expected to increasingly invest in producing more effective and safer stents, improving their designs to cater to the specific requirements of the patient population. The rising emphasis on minimally invasive treatments, in combination with rapid innovations in stent technology, is expected to positively influence the market’s expansion.
Report Scope
“Stents Market Assessment, Opportunities and Forecast, 2017-2031F”, is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of global stents market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2024 and 2031. Additionally, the report profiles the leading players in the industry, mentioning their respective market share, business models, competitive intelligence, etc.
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