Stents Market Size, Share & Trends Analysis Report By Product (Vascular, Non-vascular), By Material (Metallic, Non-metallic), By End-use (Hospitals, Ambulatory Care Centers, Specialty Clinics), By Region, And Segment Forecasts, 2024 - 2030

Stents Market Size & Trends 

The global stents market size was estimated at USD 14.07 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 3.8% from 2024 to 2030. The market is significantly influenced by the rising incidence of cardiovascular diseases. As an illustration, the Centers for Disease Control and Prevention (CDC) reported in 2021 that coronary heart disease, causing 375,476 deaths in the U.S., stands as the leading cause of mortality. Approximately 5% of adults aged 20 and above are impacted by coronary artery disease (CAD). CVDs have become a major public health issue worldwide, mainly due to several risk factors such as unhealthy lifestyles, high blood pressure, diabetes, and stress. The significant rise in CVD-related deaths highlights the pressing need for effective preventive, diagnostic, and treatment solutions.

The market witnessed growth due to several companies investing in developing new products. The focus on launching innovative products and obtaining regulatory approvals is expected to improve the availability of advanced options, encourage wider usage of stents, and further boost the market's growth. In March 2022, S3V Vascular Technologies announced an investment of USD 30.0 million at the Medical Devices Park in Hyderabad, India. The investment is aimed at manufacturing high-end critical lifesaving cardiac and neuromedical devices. The company manufactures bioresorbable vascular scaffolds and drug-eluting stents to reduce re-procedure rates.

Advancements in stent technology and materials, along with increasing elderly population worldwide, are expected to impact the market growth significantly. According to the World Health Organization (WHO), the proportion of people aged 60 years or older worldwide will increase to one in six by 2030. This means that people aged 60 years and over will rise from 1 billion in 2020 to 1.4 billion. Elderly individuals are more susceptible to conditions such as atherosclerosis, coronary artery disease, and peripheral arterial disease. These conditions often require stents for medical intervention. With increasing age, arteries become narrower and more prone to blockages due to plaque accumulation. This phenomenon highlights the importance of stents frequently employed to open these narrowed blood vessels and ensure proper blood flow.

Key market players have a vital role in driving the adoption of technological advancements in the market. These companies actively integrate such innovations into their product offerings to enhance patient outcomes and expand access to advanced treatment options. In August 2022, Medtronic launched the Onyx Frontier drug-eluting stent (DES), its latest offering in the market, after receiving CE Mark approval. The Onyx Frontier DES stands out for its innovative delivery system and incorporates the Resolute Onyx drug-eluting stent's acute performance and clinical data.

Market Concentration & Characteristics

The introduction of specialized and advanced products like the Onyx Frontier drug-eluting stent reinforces these companies' market position and competitiveness. The global stents industry is buzzing with innovation, showcasing a continuous stream of new ideas and advanced approaches. These stents have become quite popular because of their minimal invasiveness and the relief they offer with reduced pain. Companies are actively investing in inventive technologies and procedures to meet the growing demand, staying on the cutting edge of progress in this field.

Market players, such as Abbott Laboratories, Boston Scientific Corporation, BD, and Medtronic, are involved in merger and acquisition activities. Through M&A activity, these companies can expand their geographic reach and enter new territories. Moreover, Companies are actively investing substantial resources in clinical trials and regulatory submissions to obtain regulatory approval for pipeline products. This may result in increasing the cost of developing novel stent technologies.

Further, stents offer a minimally invasive approach to treating narrowed arteries, with several product substitutes in certain cases. These alternatives include balloon angioplasty, endovascular stents, stent grafts, and vascular surgery. Additionally, lifestyle modifications such as smoking cessation, weight management, exercise, and a balanced diet can play a crucial role in preventing or slowing the progression of stenotic disease.

Product Insights

The vascular stents segment, categorized by product, held the largest market share of 88.40% in 2023. The market is witnessing growth due to the prevalence of unhealthy and hectic lifestyles in society. Sedentary routines, poor dietary choices, and increased stress levels have led to an alarming rise in lifestyle-related conditions, particularly cardiovascular diseases. For instance, according to the World Health Organization (WHO), tobacco use causes 1.9 million deaths due to heart disease annually.

The healthcare industry has seen a significant rise in the use of advanced technology, and people are now more aware of the negative impact of unhealthy lifestyles on their bodies. As a result, there is an increase in the number of individuals seeking medical treatment for their cardiovascular issues. This has increased demand for vascular stents and related interventional procedures. Increasing clinical studies to evaluate the safety and efficacy of vascular stents will accelerate the market growth. In June 2023, Gore announced the enrollment of the first U.S. patient in a study evaluating the Gore Viafort vascular stent for iliofemoral venous obstruction.

The non-vascular stents segment is predicted to grow substantially during the forecast period. The increasing incidence of chronic diseases such as pancreatic cancer, lung cancer, stroke, colon/colorectal cancer, asthma, and Chronic Obstructive Pulmonary Disease (COPD), among others, is expected to fuel demand for non-vascular stents. For instance, lung cancer affected approximately 238,340 people in the U.S. in 2023, making it the leading cause of cancer deaths worldwide.

Similarly, as per the same source, about 26,500 new cases of stomach cancer are estimated in the U.S. Furthermore, increasing healthcare spending will escalate market growth. For instance, as per the American Medical Association report, healthcare spending in the U.S. reached USD 4.3 trillion in 2021, a 2.7% increase from the previous year, equating to USD 12,914 per person.

Material Insights

In 2023, metallic stents held the largest market share of 62.10%. Metallic stents are widely used in critical applications, especially coronary and peripheral artery interventions, due to their durability and structural integrity. They provide immediate structural support and help maintain vessel patency, which is crucial in life-threatening situations such as acute myocardial infarctions and severe peripheral artery disease. The reliability and predictability of metallic stents have made them a popular choice as a primary treatment option. Continuous innovation in stent design and material technology has led to the development of thinner struts and drug-eluting variations, which have further enhanced their efficacy and safety. Metallic stents can be adapted to various anatomical locations and disease presentations, which has led to their growth in the market.

The non-metallic stents segment is anticipated to witness significant growth in the market during the forecast period. Non-metallic stents are becoming increasingly popular in the medical field due to their flexibility and adaptability in various medical applications. These stents are usually made from silicone, polyurethane, or bioabsorbable polymers. One significant advantage of non-metallic stents over metallic stents is the reduced risk of metal allergies or hypersensitivity reactions, which can concern some patients.

Furthermore, growing initiatives to make non-metallic stents are expected to boost market growth. For instance, in 2019, a project worth USD 1.3 million has been initiated to develop biodegradable stents for patients with severe vascular disease, which affects around one million people in the UK. Innovate UK has funded the collaboration between Arterius, a UK-based medical device company, and the Translational Biomedical Research Centre (TBRC) at the University of Bristol. The project aims to create a new type of bioresorbable stent to prevent the complications associated with metal stents.

End-use Insights

The hospital segment dominated the market with a share of 74.24% in the year 2023. The demand for stent procedures is increasing due to the growing prevalence of cardiovascular and other stent-requiring conditions. Hospitals have the necessary infrastructure and expertise to diagnose, treat, and manage various medical conditions, including advanced interventional cardiology and endovascular procedures. As a result, hospitals are becoming the primary location for stent placements, where patients can receive the necessary medical care. Hospitals have a dedicated team of specialists, state-of-the-art equipment, and a comprehensive healthcare environment to ensure patient safety. As a result, hospitals play a critical role in driving the growth of the market.

The ambulatory care centers segment is expected to grow at the fastest CAGR during the forecast period due to itsability to provide cost-effective, convenient, and efficient outpatient procedures. The healthcare industry increasingly emphasizes outpatient care and ambulatory care centers are well-suited to meet the rising demand for minimally invasive procedures such as stent placements. ACCs can perform stent procedures for various conditions, such as coronary and peripheral artery disease, thereby supplementing market growth.

Regional Insights

In 2023, North America held the predominant position in the market with a share of 43.69% due to rising prevalence of chronic diseases, a growing elderly population, the strong presence of industry players in the region, a well-developed healthcare infrastructure, and increased awareness among the public and healthcare stakeholders regarding available technologies. Furthermore, active participation from key market players and regional research institutions, focusing on developing innovative stents for various medical conditions, is expected to drive market growth.

For instance, in November 2022, MicroPort Scientific Corporation announced that the Quebec Heart Lung Institute in Quebec, Canada, had completed the enrollment of the last patient for the TARGET IV-NA clinical trial. The trial involved 1,720 patients across 66 clinical sites in the U.S., Europe, and Canada. Its purpose was to evaluate the safety and effectiveness of the Firehawk Target Eluting Stent system in comparison with currently approved second-generation drug-eluting stents (DES). Such ongoing clinical trials by key market players are fostering advancements in the field.

The U.S. accounted for the largest share of the stents industry in North America in 2023. The U.S. faces a significant burden of chronic obstructive pulmonary disease (COPD), According to the CDC, 16 million adults are affected, and a substantial number are unaware of their condition. This widespread prevalence, particularly among women, combined with the unmet needs in managing severe airway obstructions, has emerged as a key driver for the growth of the U.S. market.

Asia Pacific region is expected to grow at the fastest rate during the forecast period, due to several contributing factors. The increasing aging population in countries such as China and India is anticipated to boost market growth. For instance, according to the United Nations Population Fund and the International Institute for Population Sciences report, As of July 2022, there were 149 million individuals aged 60 years and above in India, accounting for approximately 10.5% of the population.

By 2050, this demographic is estimated to double by 20.8%, with an absolute count of 347 million. The report also projects that by the end of the century, the elderly population will comprise more than 36% of the country's population. In addition, due to the high prevalence of CVDs in China and India, the market is a crucial segment in the region due to its large population. This high prevalence of cardiovascular diseases will accelerate the market growth.

Key Companies & Market Share Insights

• Boston Scientific, BD, Medtronic, and Abbott Laboratories are some of the dominant players operating in the market.

• Boston Scientific, a unit to tackle healthcare challenges, impacting over 100 countries. Their mission: reduce costs, boost efficiency, and broaden healthcare access.

• Abbott has a portfolio of technologies that bridge the spectrum of healthcare, with commanding businesses and products in medical devices, nutrition, diagnostics, and branded generic medicines.

• BIOTRONIK is a global medical technology manufacturer dedicated to improving patient well-being for over six decades. With a focus on cardiovascular, endovascular, and neuromodulation therapies, BIOTRONIK's innovative products and services have helped millions of people live longer, healthier lives.

• Terumo Corporation and W.L Gore & Associates, are some emerging market players functioning in the market.

• Terumo is a global medical device company committed to quality and innovation. Founded in Japan in 1921, Terumo has expanded its reach to over 160 countries and regions worldwide.

• Veryan Medical is an established medical device company that has taken an innovative approach to vascular stents, drawing inspiration from nature's ingenious designs.

Recent Developments

• In May 2022, Biosensors International Group, Ltd. has PMDA approval for BioFreedom Ultra in Japan and FDA Approval for BioFreedom in the U.S. This strategic initiative has expanded the company’s customer base and product offerings.

• In June 2022, Boston Scientific Corporation acquired a 64% majority investment in M.I.Tech Co., Ltd., a Korean medical device manufacturer, through a deal with Synergy Innovation Co., Ltd. M.I.Tech specializes in HANAROSTEN technology, self-expanding metal stents, crafting non-vascular for endoscopic and urologic procedures.

• In November 2021, B. Braun and REVA Medical have entered into a strategic partnership for the distribution of Fantom Encore, a bioresorbable scaffold for coronary interventions.

• In December 2020, MicroPort approved the NeuroTech Bridge, Vertebral Drug-Eluting Stent (Bridge) for launch in China by the National Medical Products Administration (NMPA).

Stents Market Report Scope

Global Stents Market Report Segmentation

This report forecasts revenue growth at global, regional and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global stents market report based on product, material, end-use and region:

• Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Vascular

    • Coronary Stents

    • Peripheral Stents

      • Iliac Artery Stents

      • Femoral Artery Stents

      • Carotid Artery Stents

      • Renal Artery Stents

      • Other Peripheral Stents

    • Neurovascular Stents

      • Intracranial Stents

      • Flow Diverters

  • Non-vascular Stents

    • Gastrointestinal Stents

      • Biliary

      • Duodenal

      • Colonic

      • Pancreatic

      • Esophageal Stents

    • Pulmonary (Airway) Stents

      • Silicone Airway

      • Metallic Airway

    • Urological Stents

    • Others 

• Material Outlook (Revenue, USD Million, 2018 - 2030)

  • Metallic Stents

  • Non-metallic Stents

• End-use Outlook (Revenue, USD Million, 2018 - 2030)

  • Hospitals 

  • Ambulatory Care Centers (ACS)

  • Specialty Clinics 

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • Japan

    • China

    • India

    • South Korea

    • Australia

    • Thailand

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait