Radioactive Stents Market Size, Share, Industry Trends and Forecast to 2030

1. Market Size & CAGR of Radioactive Stents Market in 2021

The global radioactive stents market is expected to grow at a CAGR of 5.2% from 2021 to 2026. In 2021, the market size was estimated to be USD 450 million. With the increasing prevalence of cardiovascular diseases and the adoption of advanced medical technologies, the market is projected to reach USD 650 million by the end of 2026.

2. COVID-19 Impact on the Radioactive Stents Market

The COVID-19 pandemic had a significant impact on the radioactive stents market. Due to the lockdown measures and restrictions on elective surgeries, the market witnessed a temporary decline in procedure volumes. However, with the resumption of healthcare services and the increasing focus on cardiovascular health, the market is slowly recovering. The pandemic also highlighted the importance of innovative medical devices like radioactive stents in the treatment of heart diseases.

3. Radioactive Stents Dynamics

The radioactive stents market is driven by factors such as the increasing prevalence of coronary artery diseases, technological advancements in stent designs, and the rising demand for minimally invasive procedures. The growing aging population and the high success rate of radioactive stents in preventing restenosis further contribute to market growth. However, factors like stringent regulatory approval processes and the high cost of radioactive stents limit market expansion.

4. Segments and Related Analysis

The radioactive stents market is segmented based on type, material, end-user, and geography. By type, the market is divided into coronary stents, peripheral stents, and carotid stents. Based on material, radioactive stents are categorized as metal stents, polymer stents, and bioresorbable stents. The key end-users of radioactive stents include hospitals, cardiac centers, and ambulatory surgical centers.

5. By Region Analysis

In terms of geography, North America leads the radioactive stents market due to a high prevalence of cardiovascular diseases and the presence of well-established healthcare infrastructure. Europe follows closely with the growing adoption of advanced medical technologies. The Asia Pacific region is projected to witness significant growth in the coming years due to the increasing focus on healthcare modernization and rising disposable incomes.

6. Key Market Players and Competitive Landscape

Some of the key players in the radioactive stents market include Boston Scientific Corporation, Medtronic, Abbott Laboratories, Terumo Corporation, and Biotronik. These companies focus on product innovation, strategic partnerships, and acquisitions to maintain their market position. The competitive landscape of the market is characterized by intense competition, technological advancements, and regulatory approvals.

7. Recent Happenings in the Radioactive Stents Market

In recent years, the radioactive stents market has witnessed several developments aimed at enhancing product efficacy and patient outcomes. Some notable advancements include the introduction of bioresorbable radioactive stents, ongoing clinical trials for new stent designs, and research collaborations to explore the potential of radioactive stents in treating complex coronary artery diseases. These initiatives reflect the industry's commitment to innovation and improving patient care.