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Vascular Stent Market 2024 Production Analysis, Latest Trends, Industry Share And Forecast To 2033
Vascular Stent Market Growth
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According to The Business Research Company's, The vascular stent market size has grown rapidly in recent years. It will grow from $14.74 billion in 2023 to $16.26 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The growth in the historic period can be attributed to clinical research and development, drug-eluting stents (des), introduction of balloon angioplasty, early stent innovations, physician training and skill development.
The vascular stent market size is expected to see strong growth in the next few years. It will grow to $23.61 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. The growth in the forecast period can be attributed to focus on preventive cardiovascular care, shift towards outpatient procedures, cost-effectiveness and value-based healthcare, bioabsorbable stents and next-generation materials, expansion of endovascular interventions. Major trends in the forecast period include advancements in stent coatings and materials, patient education and awareness, shift towards outpatient settings, focus on cost-effectiveness.
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Market Drivers and Trends:
The increasing healthcare expenditure is expected to propel the growth of the vascular stent market. Healthcare expenditure refers to the total amount of resources, typically measured in monetary terms, that a country, organization, or individual spends on healthcare-related goods and services within a specific period. Increasing healthcare spending allows for better infrastructure, improved healthcare facilities, and increased awareness, all of which positively impact the diagnosis and treatment of vascular diseases. For instance, in June 2023, according to CMS, (The Centers for Medicare & Medicaid Services), US-based, administers of major healthcare programs, the National Health Expenditure Projections 2023-2024, growth rates in United States health expenditures are projected to be 5% in the current year and 5.1% in the next year. Therefore, an increasing healthcare expenditure is driving the vascular stent market forward.
Technological advancement is a key trend gaining popularity in the vascular stent market. Many companies are investing in bio-sensing devices, cutting-edge integrated stents, and drug-eluting coronary stent systems to gain a competitive edge in the market. For instance, in 2022, Translumina, an India-based medical equipment manufacturer launched VIVO ISAR, a latest generation dual drug polymer-free coated stent (DDCS) that brings together a stent with a superior safety profile without compromising the drug release kinetics. It uses Probucol, an antioxidant and lipid-lowering drug, as a carrier for releasing Sirolimus (an anti-restenosis drug), and thus creates a polymer-free DES platform with uncompromised safety and efficacy.
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Major Key Players of the Market:
Medtronic plc, Abbott Laboratories, Boston Scientific Corporation, Biotronik SE & Co. KG, B. Braun Melsungen AG, Terumo Corporation, Meril Life Sciences Pvt. Ltd., JOTEC GmbH, W. L. Gore & Associates Inc., Lombard Medical Technologies Inc., MicroPort Scientific Corporation, Translumina GmbH, Lepu Medical Technology (Beijing) Co. Ltd., Koninklijke Philips N.V., Purple Medical Solution Pvt. Ltd., Sahajanand Medical Technologies Pvt. Ltd., Stentys SA, Stryker Corporation, Osypka AG, Spectranetics Corporation, Cook Medical Inc., Cordis Corporation, Endologix Inc., Johnson & Johnson Inc., Siemens Healthineers AG, General Electric Company, Nihon Kohden Corporation, Fujifilm Corporation, EP Medsystems Inc., ZOLL Medical Corporation
Vascular Stent Market 2024 Key Insights:
• The vascular stent market size is expected to see strong growth in the next few years. It will grow to $23.61 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%.
• Navigating Cardiovascular Health Surge In Vascular Diseases Propels Growth Of The Vascular Stent Market
• Translumina's Vivo Isar Sets The Pace In The Technologically Advanced Vascular Stent Market
• North America was the largest region in the vascular stent market share in 2023
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Braun Melsungen AG
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Cook Medical, Inc.
Teruma Corporation
Jude Medical, Inc.
The Spectranetics Corporation
Volcano Corporation
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