Stents Market 2021 How the Business Will Grow in 2027? Prominent Players: Abbott Laboratories, Boston Scientific Corporation, Medtronic, B Braun, Stryker Corporation

Graphical Research provides a detailed overview of stents market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of market in conjunction with the geographical landscape, demand spectrum, remuneration scale, and growth graph of this vertical have also been included in this report.

The following eight major factors have been nurturing the growth of the global stents market outlook:

Growing demand for percutaneous coronary intervention in Asia Pacific

Owing to the dramatic rise in the percentage of elderly population in Asia Pacific, the prevalence of cardiac arrests, coronary heart disease, and persistent chest pain has been on the rise. This has been generating a rising demand for percutaneous coronary intervention or PCI procedures, also known as angioplasty, to ensure better functioning of the heart.

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Since stents are frequently deployed to treat the narrowed coronary arteries that ensure continuous supply of oxygen-rich blood to the heart, they are expected to register a high demand by 2027.

Increasing deployment of polymer stents in cardiology across APAC

The polymer stents are poised for marked growth over the assessment timeline and the Asia Pacific stents market share from the segment is expected to rise at a high 6.4% CAGR between 2021 and 2027. There is a growing degree of utilization of these medical devices across cardiology procedures, bronchial, oesophageal, tracheal, and biliary implantations.

In contrast to traditional open surgeries, minimally invasive procedures are gaining extensive approval across the region, and as these procedures leverage stents, the demand for these products is anticipated to soar.

Vascular stents to gain traction in developing regions

The Asia Pacific stents market size is slated to surge substantially, on account of the expanded demand for vascular stents. The market share from the segment was estimated at $6.2 billion during 2020. The segment is further categorized into neurovascular stents, peripheral stents, and coronary stents. Bioresorbable stents, bare metal stents, and drug eluting stents are the sub-segments of the coronary stents segment.

The projected expansion of the segment can be ascribed to the increased demand for drug eluting stents. The launch of new drugs in drug eluting stents by the leading manufacturers is responsible for this trend.

Spiraling demand for minimally invasive procedures in Japan

The stents industry in Japan was valued at $1.9 billion during 2020 and is expected to accrue a higher market share by 2027. The growth can be attributed to the high demand for minimally invasive procedures which are associated with numerous benefits including faster recovery, lower degree of pain, earlier hospital discharge, and smaller incisions.

Self-expanding stents to see significant growth in North America

By 2027, the North America stents market share from self-expanding stents is projected to reach $1 billion. These stents are constrained by a delivery catheter and expand only when positioned and deployed. As these delivery devices are considerably smaller than the balloon expandable stents, they are deemed more convenient for handling, offering improved efficiency.

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High incidence of CVDs and coronary disorders in U.S.

The U.S. industry is slated to generate a significant volume of revenue over the upcoming times, due to the high incidence of cardiovascular diseases or CVDs in the region. The growing number of elderly people in the region has been responsible for this trend.

Particularly, coronary heart disease is being diagnosed amongst a considerable number of patients, majority of whom are aged individuals. The adoption of inactive and sedentary lifestyle alongside the ease of access to an advanced healthcare infrastructure has been pushing the demand for stents in the region.

The Europe market for stents is likely to rise steadily by 2027, triggered by the focus toward integrating metallic stents with biodegradable polymers to attain better results. This combination can counter the drawbacks of conventional stent materials.

Increased percentage of geriatric population in U.K.

The U.K. market for stents is expected to present considerable opportunities in Europe, growing at a 1.5% CAGR through the forecast years. The high percentage of geriatric population in the country has been fueling the demand for high quality and efficient heart stents in the region. As per the 2019 report of the Office of National Statistics U.K., nearly 12 million individuals residing in the region were aged 65 or older as of 2018.

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The estimates of the British Heart Foundation reveal that coronary heart disease or CHD has been one of the most common heart diseases in the region, affecting more than 7.6 million residents. The utilization of heart stents is therefore expected to surge over the next few years in the U.K. Some of the most prominent manufacturers of stents in the region are Biotronik, Boston Scientific, Abbott Laboratories, Stryker, and Medtronic.

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