Bare-Metal Stents Market - Global Market Share, Trends, Analysis and Forecast, 2023-2032

The global Bare-Metal Stents market was estimated to be US$ 3,054.50 Million in 2022 and is expected to reach US$ 5,147.21 Million by 2032 at a CAGR of 5.4%.

Bare-metal stents, or mesh-like tubes of thin wires without a covering or coating, are medical devices used to treat heart blockages. Bare-metal stents are covered by a new layer of endothelial cells, sealing them into the vessel wall within a few weeks after implantation.

The increased rate of cardiovascular diseases across the globe, the launch of technologically advanced products, and changing regulatory scenes are likely to drive the bare-metal market during the forecasted period. Moreover, the consumption of unhealthy diets, rising obesity among various age groups, and the rise in the geriatric population are projected to contribute to the growth of the bare-metal stents market in the years to come.

Factors Driving the growth of the Global Bare-Metal Stents Market

Rising cardiovascular diseases to propel the growth of bare-metal stent market

The rising rate of cardiovascular disease throughout the globe is one of the significant factors driving the growth of the bare-metal stents market. It encompasses a group of disorders affecting the blood vessels of the heart, including coronary heart diseases, congenital heart disease, rheumatic heart disease, and cerebrovascular disease.

The increase in cardiovascular diseases across developing countries is attributed to a rise in incidences of hypertension, smoking and drinking habits, and obesity, which are influenced by changing lifestyles. Additionally, the rise of diabetes and pre-diabetes contributes to this trend. Consequently, there is an increased demand for cardiovascular monitoring devices. As a result, a larger pool of patients with cardiovascular diseases is projected to create significant opportunities in the bare-metal stents market during the forecasted period.

Furthermore, the rise in the geriatric population will also be a significant factor in the growth of this segment in the coming years.

Changes in regulatory guideline to boost the industry growth 

Government policies and regulations have had a significant impact on the global bare-metal stent market, with several changes being implemented in recent years. One notable example is the introduction of the Affordable Care Act (ACA) in the United States.

The implementation of the ACA has brought about a significant change in the payment and delivery of healthcare across the country. Healthcare providers and hospitals are now under constant pressure to reduce costs, which has adversely affected the demand for bare-metal stents. The focus on preventive care is also expected to increase, potentially reducing the need for stent procedures. Furthermore, advancements in technology and alternative treatments for heart blockages have emerged, which could compete with the bare-metal stent market.

Overall, the combination of regulatory changes, cost reduction pressures, emphasis on preventive care, and technological advancements has influenced the bare-metal stent market and created challenges and potential alternatives within the industry.

Segmentation of the Bare-Metal Stent Market

Based on the product, the market is divided into two segments: self-expandable stents and balloon-expandable stents. Self-expandable stents are devices made of stainless steel that are compressed in a delivery catheter and rely on a mechanical "spring-like" design for expansion and function. On the other hand, balloon-expandable stents are straight, rigid cylinders constructed using stainless steel wire secured on an angioplasty balloon.

In terms of material, the market is divided into stainless steel, cobalt-chromium alloy, and others (such as platinum-chromium alloy). As of 2022, the cobalt-chromium alloy segment has dominated the global bare-metal stents market, capturing around 50% of the market. Cobalt-chromium stents are preferred due to their better corrosion resistance, high tensile strength, and thinner struts compared to stainless steel stents.

The thinner struts provide better compatibility and flexibility, enabling easier navigation through tortuous vessels and improving overall efficiency during the procedure. Cobalt-chromium stents also offer improved clinical outcomes, including reduced rates of in-stent restenosis and stent thrombosis.

Based on the end user, the market is classified into hospitals, specialized clinics, and ambulatory surgical centres (ASCs). The hospitals segment is projected to dominate the market share during the forecasted period. Additionally, ambulatory surgical centres are expected to experience significant growth in the future years. The preference for ambulatory surgical centres is increasing due to their high-quality, cost-effective settings for cardiovascular procedures and cardiac patients, which is expected to boost the ASC market in the coming years.

Regional Trends of the Global Bear-Metal Stents Market

North America dominates the global bare metal stents market

Geographically, the global bare-metal stent market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and South America.

Following are some of the major trends in these regions -

North America: North America dominates the global bare metal stents market due to increased adoption of newer technologies and higher demand for disease-specific treatments. The region's increased expenditure on the healthcare sector and the presence of key players further propel the growth of bare metal stents.

Europe: Europe is another prominent market where the growing number of people suffering from cardiovascular diseases and increased government spending boost the growth of bare metal stents. The region also experiences rising healthcare expenditure and a growing emphasis on personalized medicine.

Asia-Pacific: The Asia-Pacific region represents a rapidly expanding market for bare metal stents. Countries like China, Japan, India, and South Korea witness significant growth due to factors such as improving healthcare infrastructure and increasing disposable income. These factors have fueled the demand for bare metal stents in the region.

Middle East and Africa: The Middle East and Africa region observe gradual but steady growth in the global bare metal stents market. Increasing healthcare investments and the adoption of advanced healthcare technologies contribute to market expansion. Countries like the United Arab Emirates, Saudi Arabia, and South Africa lead the market in the region, although it is relatively nascent compared to other regions.

South America: South America has also witnessed notable growth in the global bare metal stents market. Factors such as a rising burden of cardiovascular diseases, increasing awareness about personalized medicine, and advancements in healthcare infrastructure contribute to market expansion in the region. Brazil, Argentina, and Colombia are the key markets in South America, driven by the presence of well-established healthcare facilities and a growing focus on precision medicine.

Key developments in the Global Bare-Metal stents market

April 2021- Abbot announced the launch of coronary imaging Ultron 1.0 Software powered by AI. The software has been launched to improve the detection of calcium blockages and measure vessel diameter during the coronary stenting procedure.

Key players in the Global Bare-Metal Stents Market are Abbot Laboratories, Boston Scientific Corporation, Medtronic plc, Terumo Corporation, Cook Medical, Meril Life Sciences Pvt Ltd, Transluminal GmbH, among others.

Global Bare-Metal Stents Market Segmentation

Based on Product Type:

• Self-Expandable stents
• Balloon Expandable stents

Based on Material:

• Stainless steel
• Cobalt Chromium Alloy
• Others (platinum-chromium alloy, etc.)

Based on End user:

• Hospitals
• Specialized clinics/centers
• Ambulatory Surgical Centers(ASC)

Based on Region

• North America
  • United States
  • Canada
  • Rest of North America
• Europe
  • Germany
  • United Kingdom
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  
  • Japan
  • India
  • China
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Middle East & Africa
  •  UAE
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• South America
  • Brazil
  • Rest of South America