Analysis of COVID-19 Crisis-driven Growth Opportunities in Carotid Stents Market

Carotid artery stenting is a procedure used to open a narrowed carotid artery in the heart. It involves placing a small, expandable or non-expandable tube called stent in the artery. The carotid artery stenting (CAS) procedure is also known as carotid angioplasty. Stenting helps in preventing a stroke in the long term, whereas it increases the risk of stroke and death in the short term. Carotid artery stenting is an optional procedure, which can be used if a patient has more than 60% to 70% narrowing and has low risk of serious problems from stenting. Carotid stents are available in different sizes and shapes in order to be used for patients with major heart problems. Carotid stents also feature few characteristics which makes these more useful devices for a heart surgeon.

Characteristics such as visibility of stents under X-ray, scaffolding design for more effective drug elution and easier deliverability, and conformity of the stent struts to the vessel walls increase the safety and efficacy of these devices. However, new developments in stents technology are paving the way for earlier diagnosis and treatment of cardiovascular disease.

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High prevalence of diseases such as cardiovascular diseases, large geriatric population with bypass surgery, rise in patient awareness programs, surge in research and development initiatives for heart diseases, and increase in demand for diagnostic imaging devices are the major factors driving the carotid stents market. According to the WHO, cardiovascular diseases is one of the leading causes of death globally. In 2016, of the 16 million deaths under the age of 70 years due to non-communicable diseases 37% were caused by cardiovascular diseases. Growth in technologies such as biochips, catheter implantation, strut design of stents, and increase in usage of advanced software applications available for measuring the movement of stents during treatment are likely to fuel the global carotid stents market.

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The global carotid stents market can be segmented based on product type, material, end-user, and region. In terms of product type, the market can be bifurcated into balloon expandable stents and self-expanding stents. Balloon expandable stents is projected to be a rapidly growing segment, driven by rise in prevalence of cardiovascular disease. According to the WHO, cardiovascular diseases accounted for 17.5 million deaths in 2012, representing 31% of all the global deaths. Of these, an estimated 7.4 million were due to coronary heart disease and 6.7 million were due to stroke. In terms of material, the global carotid stents segment can be classified into metal, polymer, and others. The metal segment can be categorized into nitinol, cobalt chromium, and others. Based on end-user, the market can be divided into ambulatory surgical units, hospitals, clinics, and others.

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Geographically, the global carotid stents market can be segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America dominates the global carotid stents market due to sophisticated infrastructure with modern software modalities, patient awareness programs, and high per capita health care expenditure. Early-phase diagnosis and treatment of disease drives the medical devices market which in turn is expected to propel the carotid stents market in North America. Europe is the second largest market for carotid stents due to favorable government policies regarding health care infrastructure, incidence of cardiac diseases, and awareness among the population. The market in Asia Pacific is expected to expand at higher CAGR due to rise in geriatric population, prevalence of ischemic heart disease, changing lifestyles, increase in awareness about cardiovascular disease among patients, and surge in per capita expenditure. Additionally, economic growth supports improvement in health care infrastructure in developing countries such as India and China. Hence, these factors support the growth of the carotid stents market in Asia Pacific.

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Major players operating in the global carotid stents market include W. L. Gore & Associates, Terumo Corporation, Boston Scientific Corporation, Abbott, InspireMD, Medtronic, Cordis (Cardinal Health), Cook Medical, CeloNova BioSciences, Inc., and MicroPort Scientific Corporation.

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