The global stents market size was valued at USD 8.3 billion in 2021. The market is projected to grow from USD 8.3 billion in 2021 to USD 10.4 billion by 2028, exhibiting a CAGR of 3.80% during the forecast period.
 
A medical device called a stent is inserted into a blocked passageway to keep it open. This medical device is shaped like a tiny tube and is either made of plastic or metal. It helps restore blood flow and other bodily fluids to various organs. Another key factor boosting the stents market is the prevalence of coronary artery disease. The market is growing due to increased demand for minimally invasive surgery due to benefits like quick recovery and reduced pain. Additionally, the market is further influenced by the increase in funding from both public and private organizations for the growth of the healthcare industry. Furthermore, during the projection period, medical device advances open up lucrative potential for market participants. Moreover, bioresorbable vascular scaffolds will boost the market growth.

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COVID-19 IMPACT

The COVID-19 pandemic's emergence has affected the global market share for stents and disrupted the healthcare industry. The healthcare system was severely disrupted by the rising number of COVID-19 cases worldwide, which led to significant backlogs in non-essential surgeries, suspension of those procedures, and delays in diagnosing non-emergency disease conditions. Because of the strictly enforced lockdown, the supply and manufacturing chains were disrupted, which resulted in a constrained supply of stents for end users. Several regulatory bodies placed restrictions on the movement of people and goods while stopping non-urgent surgical procedures like angioplasty and bypass surgeries. Thus, the elements above negatively impacted the expansion of the global stents market.
 
DRIVING FACTORS

Cardiovascular Problems are on the Rise, which will Boost Sales

The expansion of the stents market in the coming years is predicted to be positively impacted by the rising prevalence of cardiovascular illnesses worldwide. Demand for peripheral vascular and percutaneous coronary interventions is anticipated to rise as the number of patients with chronic conditions rises. For instance, the World Health Organization (WHO) estimates that 17.9 million deaths yearly are attributed to cardiovascular diseases (CVDs), or almost 32% of all fatalities. The demand for peripheral vascular and percutaneous coronary interventions will rise as the number of people with cardiovascular diseases rises steadily, ultimately fueling the demand for stents.

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RESTRAINING FACTORS

Stringent Regulations Could Prevent the Market from Growing

Strict regulatory approvals may be a barrier to stents' market growth. Numerous authorities and government organizations have established rules and guidelines for stents' efficient and secure use. For instance, the U.S. FDA reviews the literature and animal pre-clinical trials before approving stents. The U.S. FDA classifies coronary stents as a category III device, so approving a medical device is also thought to be resource-intensive (in terms of both time and money). Due to the complications associated with using stents, strict regulations have been implemented. The U.S. FDA carefully monitors the use of stents due to potentially fatal outcomes.

LIST OF KEY COMPANIES PROFILED:

BIOTRONIK
Medtronic, BD
Boston Scientific Corporation
Abbott.
Cardinal Health
Elixir Medical Corporation
Terumo Corporation
Biosensors International Group, Ltd
Meril Life Sciences Pvt. Ltd.
Others

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