Stents Global Market

–Forecast to 2027

Stents Global Market estimated to be worth $13.5 billion by 2027

IQ4I Research & Consultancy published a new report on “Stents Global Market –
Forecast To 2027” This report analyzes and studies the overall market, major Drivers &
Opportunities, Restraints & Threats in North America, Europe, Asia-Pacific and Rest of the
World.

IQ4I’s Report Contains 126 market data tables and 93 figures spread through 616
pages and an exhaustive TOC on “Stents Global Market”, [By Product (Bare Metal
Stents, Drug Eluting Stents, Bioresorbable Stents, Other Stents); By Material {Metal
alloy based stents (Cobalt-chrome stents, Nitinol stents, Platinum alloy stents,
Stainless steel stents, Other metal alloy stents)} {Polymer based stents (Biostable
Polymer stents, Biodegradable Polymer based stents)}; By Application {Vascular
Stents (Coronary Stents, Peripheral Stents, Neurovascular stents (Carotid stents,
Intracranial stents, Flow diverter stents) and Other Vascular stents} {Non-vascular
Stents (Gastrointestinal stents (Pancreatic & Biliary stents, Esophageal Stents,
Colorectal stents, Duodenal stents), Urological stents, Airway stents and Other Non-
vascular Stents)}; By End-user {Hospitals, Ambulatory Surgery Centers and Other
End-Users}; By Region (North America, Europe, Asia-Pacific and Rest of the World)]

Stents are the hollow, tiny, expandable mesh like cylindrical structures used to prop open the
narrowed or strictured vascular or non-vascular tubular passageways, maintain their patency
and luminal diameter and ensure an uninterrupted flow of body fluids through the
passageways. These metallic or polymeric devices aid in rapidly and efficiently alleviating or
palliating of the symptoms associated with clogged vascular or non-vascular systems in a
minimally invasive and non-traumatic manner. Incredible technological advancements in the
persistently evolving stenting technologies aid in providing immediate symptomatic relief to
patients, ensuring longer lifespan and greater quality of life with no risks of general
anesthesia and minimal risk of complications and infections. The various types of stent
products like bare metal stents (BMS), drug eluting stents (DES), covered stents, flow
diverter stents, polymeric non drug eluting stents and even bioresorbable stents are used to
treat coronary artery diseases (CAD), peripheral artery diseases (PAD), cerebral aneurysm,
venous outflow obstructive conditions, gastrointestinal strictures, urological strictures and
others.

The stents global market is estimated to be is expected to reach $13,522.8 million by 2027
growing at a mid single digit CAGR from 2020 to 2027. Some of the factors such as
escalating prevalence of vascular or non-vascular stenotic conditions and cerebral
aneurysms, elevating inclination towards minimally invasive therapeutic procedures across
the globe, the trend of coronary stent price slashing and increasing competitiveness of the
domestic players in the APAC countries and favorable reimbursement scenario in developed

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nations are currently driving the stents market growth. Factors like emergence of
technologically advanced stent products, persistently escalating geriatric population and the
feasibility of even drug eluting stents (DES) in them and the numerous acquisitions and
distribution agreements among the stent companies are further substantiating enormous
growth opportunities of the market. Paucity of skilled, trained and experienced healthcare
professionals for efficiently and safely deploying the various novel, advanced and
sophisticated stent products, adverse effects associated with the use of stents, concerns
over irrational stenting and underperformance of stents in some of the complex obstructive
conditions, stringent regulatory guidelines to be adhered for commercialization of stent
products and the threat of recalls are some of the factors that are hindering the market
growth.

The stents global market is classified into various market segments such as Product,
material, application, end-users and geography. Based on the type of stent product, the
market is segmented as bare metal stents, drug eluting stents (DES), bioresorbable stents
and other stents consisting of covered stents and the non-drug eluting polymeric stents.
Among the overall stents market by product, the drug eluting stents segment accounted for
the largest revenue in 2020 and is expected to grow at a mid single digit CAGR from 2020 to
2027 due to increasing popularity and adoption of the highly efficient DESs across the globe
and the constant up-scaling of the efficiency and safety profile of the DES with technological
advancements. Bioresorbable stents segment is expected to grow at low teen CAGR from
2020 to 2027. The fastest growth rate of this segment is due to increasing demand for an
ideal ‘disappearing stent’ that has aided in the restoration of the normal functional
characteristics of the stented vessel or internal duct and the increasing research and
development activities for the development of highly efficient and safer biodegradable stents
that will eliminate or mitigate the lethal adverse effects associated with the existence of a
permanent caging structure in the vessel.

The stents global market, by materials is segmented into metal alloy based stents and
polymer based stents. The metal alloy based stents is further categorized into cobalt-chrome
alloy stents, nitinol or nickel-titanium alloy stents, platinum-chromium alloy stents, stainless
steel stents and other metallic biomaterial stents like those made up of magnesium, iron and
others. The polymer based stents includes stents made up of durable or biostable polymers
and biodegradable polymers. In the overall stents market based on materials, the metal alloy
based stents or metallic stents accounted for the largest share of revenue in 2020 and is
expected to grow at a low single digit CAGR attributed to the increasing utilization of various

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metallic materials in the production of bare metal stents (BMS), drug eluting stents (DES),
covered stents and even the bioresorbable stents and the exhibition of the most desirable
and advantageous stent characteristics like high tensile or mechanical strength, elasticity,
rigidity and radiopacity of the metallic biomaterials. Polymer based stents segment is the
fastest emerging segment growing at a high single digit CAGR from 2020 to 2027 due to the
escalating utilization of polymers in the manufacturing of DES, covered stents, polymeric or
fabric stents and the polymeric bioresorbable stents and the manifestation of stent
advantageous characteristics like flexibility, elasticity and the controlled drug elution kinetics
by the polymers.

The stents market by application has been broadly classified as vascular and non-vascular
stents. Among these, the vascular stents segment accounted for the largest revenue in 2020
and is expected to grow at a mid single digit CAGR from 2020 to 2027 due to the persistently
elevating prevalence of vascular stenotic conditions and cerebral aneurysm across the globe
that is in need of various efficient, technologically advanced and minimally traumatizing
therapeutic interventions like stenting procedures and the increasing research and
development activities leading to the emergence of numerous technologically advanced,
innovative vascular stent products. The vascular stents are further segmented into coronary
artery stents, peripheral artery stents, neurovascular stents (carotid artery stents, intracranial
artery stents and flow diverter stents) and others consisting of venous stents, vertebral artery
stents and pulmonary artery stents. The coronary artery stent segment accounted for the
largest revenue in 2020 and is expected to grow at a mid single digit CAGR from 2020 to
2027 due to the persistently escalating prevalence of obstructive conditions or perforations
of the coronary artery and the emergence of more efficient and safer technologically
advanced coronary stent products. Neurovascular stents segment is the fastest emerging
segment and is expected of growing at a high single digit CAGR from 2020 to 2027 due to
the ever escalating neurovascular stenotic conditions and cerebral aneurysms throughout
the globe and the increasing research focus for the development of more efficient and safer
neurovascular stent products.

Based on the application areas, non-vascular stents are segmented into gastrointestinal
stents consisting of biliary, pancreatic, colonic, esophageal and duodenal stents; urinary
tract stents or urological stents, airway or tracheobronchial stents or pulmonary stents and
others consisting of ophthalmic stents. Among these, the gastrointestinal stents segment
accounted for the largest revenue in 2020 and is expected to grow at a low single digit
CAGR from 2020 to 2027 due to the persistently elevating prevalence of obstructive

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conditions of the gastrointestinal tract across the globe and the emergence of more efficient
and safer technologically advanced gastrointestinal stent products.

In stents global market, the end-users mainly consist of Hospitals; Ambulatory surgery
centers (ASCs) and others consisting of Freestanding or mobile Catheterization Labs and
Research Institutes. Among the various end-users, Hospitals segment accounted for the
largest share of revenue in 2020 and is expected to grow at a low single digit CAGR during
the period 2020 to 2027 due to increased utilization of wide range of stent products,
availability of emergency care facilities and skilled and experienced interventionalists in the
hospitals and the good reimbursement scenario in developed nations for the stenting
procedures performed in the hospital associated in-patient or out-patient settings.
Ambulatory Surgery Centers (ASCs) segment is the fastest emerging segment and is
expected of growing at a mid single digit CAGR from 2020 to 2027 due to the increasing
inclination towards outpatient care among the patient pool across the globe, availability of
skilled and experienced healthcare professionals in these healthcare settings, capability of
ASC settings to provide an cost-efficient overall better and personalized patient experience
without hospital admission and favourable reimbursement scenario in developed nations.

The stents global market is divided into four major geographies namely, North America,
Europe, Asia Pacific (APAC) and Rest of World (ROW). The major share of the stents global
market revenue is occupied by Asia-Pacific in 2020 and is expected to grow at a mid single
digit CAGR from 2020 to 2027 due to the persistently elevating prevalence of vascular and
non-vascular stenotic conditions in the region, increasing affordability and accessibility of the
major stent products like coronary stents among the patients of some of the major countries
in the region attributed to government imposed price slashing measures for these life-saving
devices, elevating geriatric population impaired with various kinds of vascular or non-
vascular obstructive diseases, increasing patient awareness and demand for better, quick
minimally invasive, efficient therapeutic procedures with advanced therapeutic products,
growing economies of the region, persistently developing healthcare infrastructural facilities
in the region, increasing healthcare expenditures and medical tourism aspects of the region.
Rest of World (ROW) is the fastest emerging region in the stents global market and is
expected of growing at a high single digit CAGR from 2020 to 2027. The rapid market growth
rate in this region is due to escalating prevalence of vasculature and duct system associated
obstructive conditions in the region, increasing geriatric population loaded with various kinds
of stenotic conditions, increasing patient awareness and demand for better, quick minimally
invasive therapeutic procedures and efficient therapeutic products, growing economies of the

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region, increasing per capita expenditure on healthcare needs and medical tourism
prospects of the region.

Technological advancements are rapidly revolutionizing the stents industry with various
innovative and value based, patient friendly devices emerging in the market. Most of the
major advancements in this field are focused on continuously enhancing the overall
architecture and efficiency of the stents through the utilization of advanced fabrication
technologies, novel stent materials like the shape memory alloy, nitinol; efficient
pharmaceutical agents and advanced stent coatings made of organic polymers, inorganic
materials or biological components and at overcoming the shortcomings of the currently
available stents like stent thrombosis and in-stent restenosis and in stent design
breakthroughs through product value engineering to develop finely refined stents with
reduced strut thickness, longer lengths, smaller diameters for enabling easy delivery into the
tortuous vessels or ducts and ensuring improved traceability and flexibility of the stents.
Upcoming technologies like development of smart stents integrated with micro-
electromechanical systems (MEMS) for remote monitoring of the implanted stent and
providing real-time prognostic information associated with the stent to assist in the early
diagnosis and prevention of potential adverse events, development of 3D printed customized
or patient specific stents, 4D printed personalized shape memory microstents for treating
uretheral strictures in foetus or new born babies, Polyzene-F (PzF) nanocoated anti-
inflammatory and thrombo-resistant non-drug eluting coronary stent, bioengineered stents
coated with human antibodies to accelerate natural healing mechanism of the stented
vessel, to camouflage the stent and avoid triggering of patient’s immune response, gene
eluting stents (GES) for prolonged elution of therapeutic genes to mitigate the problems of
late stent thrombosis and restenosis and to aid and accelerate tissue regeneration capacity
are expected to drive the stents market in the coming years. Thus the current technological
advancements and upcoming technologies that help in overcoming the limitations of the
present stent innovations will help in reversing the scattered adoption and implementation
rate of the highly efficient stent interventions.

According to IQ4I analysis, the total number of global coronary stent implantation procedure
volume is expected to grow at a high single digit CAGR from 2020 to 2027. The largest
number of coronary stent interventional procedures was performed in APAC region in 2020
and the procedural volume in the region is expected to grow at a low teen CAGR from 2020
to 2027 due to the escalating prevalence of stenotic conditions of coronary artery and the
constantly improving efficiency and safety profile of coronary stents. The total number of

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global peripheral stent implantation procedures is expected to grow at a mid single digit
CAGR from 2020 to 2027. The largest number of peripheral stent interventional procedures
was performed in the APAC region in 2020 and the procedural volume in the region is
expected to grow at a high single digit CAGR from 2020 to 2027 due to the escalating
prevalence of stenotic conditions of peripheral arteries and the constant technological
advancements and engineering improvements in peripheral stents. As per these major stent
implantation procedural volume analysis data, stents market is rapidly growing and is
expected to continue the trend owing to the increasing adoption rate of the highly efficient,
economical and safer technologically advanced stent products for the quick remediation of
the symptoms associated with vascular and non-vascular stenotic conditions and cerebral
aneurysm.

According to our analysis, the stents market is currently witnessing a butterfly effect, the
phenomenon that signifies that even small localized changes or events can have huge non-
linear impacts or large consequences on a complex system or market. The stents industry is
showcasing a deviation from the usual medical device market trend of North American or
European countries dominating the market. Stents market is currently dominated by the
developing nations of the Asia-Pacific (APAC) region and its futuristic growth is largely
dependent on the emerging nations from the Rest of World (ROW) region. Emergence of
local companies in the region, their increasing competitiveness, adoption of product
innovation according to the local needs or demands as their major business strategy,
development of novel, next-generation stent products of international quality standards and
efficiency from the domestic players of these regions and the various government measures
to curb the highly inflated prices of these life saving devices from MNC’s and thereby
increase accessibility of these devices to their ever escalating patient pool have contributed
largely to the butterfly effect or reversal of the usual medical device market trend in the
stents industry. The year on year high growth rate of the stents market in this region is
further fuelled by the growing middle class population in the region, persistently elevating
geriatric population in the region, increasing healthcare awareness, developing healthcare
infrastructural facilities in the region, increasing government support, preference for
indigenous products and the improving reimbursement scenario in the region. To gain share
of these lucrative market, MNC’s have adopted the strategy of relocating their manufacturing
or R&D facilities to these nations, entering into collaborations or joint ventures.

To gain more market share by bringing innovative and differentiated products to the market
and to stay abreast in the patient-driven market with smart and superior medical devices, the

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stent companies are constantly striving for the approval of their innovative stent products
especially in the potentially growing but untapped disease areas. For instance, in December
2020, Microport Scientific Corporation received NMPA approval for its Bridge Vertebral
Drug-Eluting Stent for treating symptomatic vertebral artery stenosis. In October 2020, Cook
Medical’s Zilver Vena Venous Self-Expanding Stent received FDA pre-market approval
(PMA) to treat symptomatic iliofemoral venous outflow obstruction.

Most of the stent companies are trying to expand and enhance their product portfolio to
increase their market reach and to perpetuate their leadership status in the market. To
enhance their core capabilities and product offerings, larger companies are adopting the
strategy of acquisitions that helps them to expand their technology to address new sections
of the market or provide them access to innovative products of small niche players in the
market. For instance, in June 2019, U.S. based Merit Medical Systems, Inc. acquired
Brightwater Medical Inc., with an FDA approved ConvertX biliary stent system, to enhance
its product portfolio with quality certified products.

Acquisition as a strategy has also been adopted by the companies to conquer new regional
markets and enhancing their market share in highly lucrative stent market regions with an
increased on-ground presence or domestic player support. In November 2019, Indian firm,
Sahajanand Medical Technologies (SMT) acquired the sales and marketing company, Zarek
Distribuidora De Produtos Hospitalares of Brazil, with a product portfolio consisting of
coronary stents, balloons, drug-eluting balloons and peripheral stents, to strengthen its
commercial footprint in the country and to slowly expand into the other Latin American
markets. In January 2019, Japan-based Terumo Corporation completed the acquisition of
Essen Technology of China, a company offering advanced drug-eluting stents (DES), to
enter the highly remunerative Chinese coronary DES market that prefers primarily domestic
products.

The stents market is consolidated with the top five players with the top five players occupying
majority of the market share and the remaining minority share of the market being occupied by
other players. The top players in stents market are Boston Scientific Corporation (U.S.),
Abbott Laboratories (U.S.), Medtronic PLC (Ireland), Terumo Corporation (Japan), Cook
Medical LLC (U.S.), Cardinal Health Inc. (U.S.), Becton, Dickinson and company (U.S.), B.
Braun Melsungen AG (Germany), Biotronik SE & Co.KG (Germany), Blue Sail Medical Co.
Ltd (Biosensors International Pte Ltd) (China) and others.

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Reasons for buying this report:

 Stents global market is projected to reach $13,522.8 million by 2027 at a mid single
digit CAGR.
 Identification and analysis of the Stents market by products, materials, applications
end-users and geography.
 Revenue forecast of Stents market and strategic analysis of each sub segment with
respect to segmental growth trends.
 Identification of major market trends, Porter's model, factors driving and restraining
the Stents market.
 Analysis of the opportunities for stakeholders by identifying the high-growth
segments of the market.
 Regulatory approval analysis of stents during 2019 – 2020, reimbursement scenario,
analysis of clinical trials, patent trends, supply chain, stents coating materials, major
companies product and application matrix.
 Global market share analysis of Stents, Coronary stents, Peripheral stents,
Neurovascular stents, Carotid artery stents, Flow diverter stents, Intracranial stents,
drug eluting stents (DES) and Gastrointestinal stents.
 Region and country wise procedural volume of coronary stent and peripheral stent
implantations.
 Identification of key technological developments and innovations driving the market.
 Analysis of the opportunities for stakeholders by identifying the high-growth
segments of the market.
 Profiles of major players in Stents market and analysis of their product offerings,
financial revenue, business strategies, SWOTs and market shares.
 Revenue forecast of Stents market with respect to North America (U.S., Rest of
North America), Europe (Germany, Italy, France and Rest of Europe), Asia-pacific
(Japan, China, India and Rest of Asia-Pacific) and Rest of the World (Brazil, Turkey
and Rest of LATAM and Middle East and Africa).

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FIGURE 1

STENTS GLOBAL MARKET SEGMENTATION

Stents Global Market

Product Material Application End-User Region

Bare Metal North

Hospitals
Stents America
Metal Alloy Polymer Vascular Non-vascular
Based Stents Based Stents Stents Stents
Drug Eluting ASC Europe
Stents Gastro-
Cobalt Durable Coronary
Chrome Alloy Artery Stents intestinal
Bio- Polymer Other
Stents APAC
resorbable End-Users
Stents Bio- Peripheral
Nitinol Alloy Pancreatic &
degradable Artery Stents Biliary Stents
Polymer ROW
Other Stents
Neuro-
Stainless Colorectal
vascular
Steel Stents
Stents

Platinum Carotid Artery Esophageal

Alloy Stents Stents

Intracranial Duodenal
Other Metals Stents Stents

Flow Diverter Urological

Stents Stents

Others Airway Stents

Others

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