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Self-Expanding Stents Global Market Report Competitive And Growth Analysis 2033
Self-Expanding Stents Global Market Report 2024
According to The Business Research Company's, The self-expanding stents market size has grown strongly in recent years. It will grow from $3.14 billion in 2023 to $3.31 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to increased awareness, growth in aging population, expansion of indications for stent usage beyond coronary arteries, growth in disposable income levels, and increased adoption of minimally invasive procedures.
The self-expanding stents market size is expected to see strong growth in the next few years. It will grow to $4.17 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to increasing prevalence of cardiovascular diseases, expansion of healthcare infrastructure, expansion of telemedicine services for remote consultation, growing incidence of peripheral arterial disease, and increase in the prevalence of chronic diseases. Major trends in the forecast period include technological advancements, bioresorbable stents, drug-eluting stents, minimally invasive procedures, and integration of artificial intelligence.
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Market Drivers and Trends:
The growing prevalence of cardiovascular diseases is expected to propel the growth of the self-expanding stents market going forward. Cardiovascular illnesses are abnormalities of the heart and blood vessels. The growing cases of cardiovascular diseases is due to obesity, an aging population, and genetic predispositions. Self-expanding stents are useful in the therapy of cardiovascular disorders, as it provide effective and minimally invasive therapeutic alternatives for both urgent and long-term patient demands. For instance, in March 2022, according to the Office for National Statistics, a UK-based national statistical authority, the number of deaths due to heart attacks was 20,061 in 2021, increasing from 19,440 in 2020. Therefore, the growing prevalence of cardiovascular diseases is driving the growth of the self-expanding stents market.
Major companies operating in the self-expanding stents market are focusing their efforts on introducing solutions, such as tracheal stent system, to reduce the need for open surgery and gain a competitive edge in the market. A tracheal stent system is a medical device used to support and maintain the patency of the trachea, often employed in cases of tracheal stenosis or collapse. For instance, in February 2022, Micro-Tech Endoscopy Inc., a US-based medical technology company, launched a tracheobronchial nitinol y-stent. It is a flexible, self-expanding stent composed of a nitinol alloy with a low-profile delivery mechanism, a silicone coating to prevent tumor ingrowth, and repositionable sutures for adjustment or removal. For individuals suffering from tracheobronchial strictures, this stent relieves symptoms by expanding the airway and enhancing airflow.
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Major Key Players of the Market:
Abbott Laboratories, Medtronic PLC, Stryker Corporation, Boston Scientific Corporation, Becton, Dickinson and Company (BD Interventional), Terumo Corporation, Phenox GmbH, Balton Sp. z o.o., Biotronik SE & Co. KG, Merit Medical Systems Inc., Aesculap AG, MicroVention Inc., Lifetech Scientific Corporation, Cordis Corporation, Rontis Corporation, Veryan Medical Ltd., Andramed GmbH, Medinol Ltd., iVascular SLU, HEXACATH SAS, Eucatech AG, Endospan Ltd., Endo-Flex GmbH, Endocor GmbH
Self-Expanding Stents Market 2024 Key Insights:
• The self-expanding stents market size is expected to see strong growth in the next few years. It will grow to $4.17 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%.
• Revolutionizing Cardiovascular Care The Rise Of Self-Expanding Stents
• Advancements In Tracheal Stent Systems Driving Minimally Invasive Solutions
• North America was the largest region in the self-expanding stents market in 2023
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