Renal Artery Stent Market Trends, Business Overview, Industry Growth and Forecast to 2028

The renal artery stent market is anticipated to grow at a significant CAGR of 8.0% during the forecast period (2022-2028). A renal artery stent is a tube-shaped device that is put into a blood vessel during angioplasty to assist maintain it open and enabling blood flow. The goal of the renal arteries is to allow nutrient-rich fluid from the kidneys to flow through and enter your body. The growth of the market can be attributed to the factors such as increasing awareness about renal artery stenosis and the rising prevalence of chronic kidney disease (CKD) and associated cardiovascular diseases such as coronary artery disease globally. According to the Centre for Disease Control and Prevention (CDC), around 15% of US adults or 37 million people, are estimated to have chronic kidney disease (CKD). As many as 9 in 10 adults with CKD do not know they have CKD. CKD is more common in people above the age of 65 years (38%) than in people aged 45-64 years (12%) or 18-44 years (6%). The cases of CKD are higher in women (14%) than men (12%). Additionally, an increase in the number of emergency surgeries performed on patients with CTOs for life-threatening conditions like acute myocardial infarction and stroke along with rising awareness regarding the benefits of renal artery stenting is also propelling the growth of the market.

The global renal artery stent market is segmented based on type and application. Based on type, the market is sub-segmented into the bare-metal stent and drug-eluting stent. Among these types, the drug-eluting stent segment is expected to propel the growth of the market due to the benefits such as prevention of plaque build-up, good blood flow to the heart and relief from chest pain. These drug-eluting stents can also lower the risk of getting a heart attack in the patients. Drug-eluting stents have effectively treated many patients with heart ailments, avoiding the need for more invasive operations like coronary artery bypass surgery. Further, based on application, the market is sub-segmented into hospitals, cardiology centres, and ASCs.

The market players are also contributing significantly to the market's growth by adopting various strategies, including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in July 2021, Medtronic PLC announced the launch of the Prevail drug-coated balloon (DCB) Catheter in Europe following the CE mark. The newest coronary DCB in the market, which is used during percutaneous coronary intervention (PCI) procedures to treat narrowed or blocked coronary arteries in patients with coronary artery disease (CAD). During the catheter-based procedure, the balloon inflates within the artery, while the drug is delivered to the arterial tissue where it is absorbed. The Prevail DCB utilizes a rapid absorption drug - paclitaxel - to enable treatment of de novo lesions, small vessel disease, and in-stent restenosis (ISR). DCB angioplasty does not require a permanent implant and is often used in cases where the implantation of a drug-eluting stent (DES) is not desirable or is technically challenging.

Similarly, in February 2019, Biotr announced that its drug-eluting stent system for the treatment of patients with CAD has been approved by the FDA and is commercially available in the US market. This drug-eluting stent system is used during PCI and elutes sirolimus through a bioabsorbable polymer coating. The system also has a coating that reduces nickel ion release, ultrathin stent struts and a low crossing profile.

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Market Coverage
•The market number available for - 2021-2028
•Base year- 2021
•Forecast period- 2022-2028
•Segment Covered-
•By End-User
•By Application
•Regions Covered-
•North America
•Europe
•Asia-Pacific
•Rest of the World

Competitive Landscape- Abbott Laboratories, Cook Medical Inc., Cordis Corp., Hexacath, Boston Scientific Corp., and Medtronic Inc.,among others.

A full report Renal Artery Stent Market of is available at:  https://orionmarketreports.com/renal-artery-stent-market/97384/

Global Renal Artery Stent Market Report by Segment
By Type
•Bare Metal Stent
•Drug-Eluting Stent
By Application
•Hospitals
•Cardiology Centres
•ASCs

Key questions addressed by the report
•What is the market growth rate?
•Which segment and region dominate the market in the base year?
•Which segment and region will project the fastest growth in the market?
•How has COVID-19 impacted the market?
•Deviation from the pre-COVID-19 forecast
•Most affected region and segment
•Who is the leader in the market?
•How players are addressing challenges to sustain growth?
•Where is the investment opportunity?

 

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This release was published on openPR.