Press release
Vascular Stent Market Set For Rapid Growth, To Reach Around USD 13.62 Billion By 2024
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Stents are the type of medical devices that can be permanently placed into the artery and narrow blood vessels which helps to keep the artery & narrow blood vessel open and functional. Vascular stents are the type of stents which are commonly placed in the part of the peripheral artery. Stents are generally made up of metal mesh and fabric. Covered stents and bare stents are two different types of stents.
The vascular stent market is segmented on the basis of product, type, mode of delivery, material, and end-user. Based on the product, the vascular stent market is further segmented into EVAR stent grafts, coronary stents, and peripheral stents. Peripheral stents are further sub-segmented into renal artery stents, carotid stents, iliac stents, femoral stents, and others. The EVAR stent-graft segment includes abdominal aortic aneurysm and thoracic aortic aneurysm. The coronary stent market is expected to dominate the market in the forecast period due to the increase in the prevalence of coronary artery diseases and the rapid advancements in the technology of coronary stents.
On the basis of type, the market is further segmented into drug-eluting stents, bioabsorbable stents, and bare metal stents. The drug-eluting stents are projected to lead the vascular stent market in the forecast period. The advantages of drug-eluting stents such as the low risk of restenosis over the bioabsorbable stents and bare metal stents are expected to fuel the growth of drug-eluting stents segment.
Based on the mode of delivery, the vascular stent market is sub-segmented into self-expanding stent and balloon expandable stent. Balloon-expandable stent segment is anticipated to dominate the vascular stent market in the near future. The increase in the number of research activities which focuses on advancing the balloon-expandable stent technology and an increase in regulatory approvals for use of balloon-expandable stents are some of the factors driving the growth of balloon-expandable stent segment.
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The material segment includes metallic stents and polymeric stents. Metallic stents are further segmented into platinum chromium, cobalt chromium, stainless steel, and nickel titanium. Polymeric stents segment includes standard polymeric stents and biodegradable polymeric stents. The polymeric stents are anticipated to show the highest demand in the forecast period. The advantages of polymeric stents are they are easy to use and do not need monitoring as metal stents thus driving the polymeric stent segment
The end-user segment includes hospitals, cardiac centers, and ASCs. The hospital segment is expected to dominate the end-user segment due to the presence of a large patient pool in the hospitals.
Europe, Latin America, North America, Asia Pacific, and the Middle East & Africa are the regional segments of the global market. North America is anticipated to dominate the market in the forecast period due to the increase in the adoption of minimally-invasive surgeries and an increase in obesity rate which leads to cardiovascular disorders. The increase in the geriatric population and an increase in the cardiovascular disease & coronary artery diseases are fueling the growth of the European vascular stent market. In the forecast period, Asia Pacific is expected to follow North America and Europe due to increasing in the occurrence of cardiovascular diseases and vessel-related blockages because of the changing lifestyle. Also, the increase in a number of various companies for the investment in this region and the launch of the technologically advanced product by them is expected to fuel the growth of the vascular stent market. Latin America & the Middle East & Africa is expected to show slow growth rate in the forecast period. The increase in adoption of Western culture which increases the occurrence of heart-related diseases is expected to fuel the growth of the vascular stent market in this region.
The key players in the global vascular stent market are Boston Scientific, Cardinal Health, Cook Medical, Medtronic, B. Braun Melsungen AG, Terumo Corporation, Abbott Laboratories, Goodman Co. Ltd., Biotronik SE & Co. KG, and Vascular Inc. The company focuses on the merger for expanding their businesses and introducing new technologies in other areas. For instance, in 2018, Boston Scientific Corporation announced that it has acquired VENITI, Inc., a company that has developed the VICI VENOUS STENT System which treats venous obstructive disease.
This report segments the global vascular stent market as follows:
Global Vascular Stent Market: Product Segment Analysis
Coronary Stents
Peripheral Stents
Carotid Stents
Renal Artery Stents
Femoral Stents
Iliac Stents
Other Peripheral Stents
EVAR Stent Grafts
Abdominal Aortic Aneurysm
Thoracic Aortic Aneurysm
Global Vascular Stent Market: Type Segment Analysis
Bare Metal Stents
Drug-Eluting Stents
Bioabsorbable Stents
Global Vascular Stent Market: Mode of Delivery Segment Analysis
Balloon-expandable Stent
Self-expanding stents
Global Vascular Stent Market: Material Segment Analysis
Metallic Stents
Cobalt Chromium
Platinum Chromium
Nickel Titanium
Stainless Steel
Polymeric Stents
Standard Polymeric Stents
Biodegradable Polymeric Stents
Global Vascular Stent Market: End-User Segment Analysis
Hospitals
Cardiac Centers
Ambulatory Surgical Centers
Global Vascular Stent Market: Regional Segment Analysis
North America
The U.S.
Europe
UK
France
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa
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