Stents Market Set to Surge to $19.7 Billion by 2030 at a 5.6% CAGR

The global stents market has witnessed significant growth over the past decade, driven by advancements in medical technology and a rising prevalence of cardiovascular diseases. According to Allied Market Research, the stents market was valued at $11.7 billion in 2020 and is projected to reach $19.7 billion by 2030, growing at a CAGR of 5.6% during the forecast period.

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Stents Market Growth Factors
Several factors contribute to the growth of the stents market:
• Increasing Prevalence of Cardiovascular Diseases: The rise in conditions such as coronary artery disease and peripheral artery disease has led to a higher demand for stent procedures.
• Technological Advancements: Innovations in stent design, including drug-eluting stents and bioresorbable stents, have improved patient outcomes and expanded the applications of stents.
• Aging Population: The global increase in the geriatric population, who are more susceptible to cardiovascular conditions, drives the demand for stent procedures.
• Government and Private Funding: Increased investments in healthcare infrastructure and research initiatives support the development and adoption of advanced stent technologies.

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Stents Market Segmentation
The stents market is segmented based on product type, material, end user, and region.

1. By Product Type:
◦ Coronary Stents: These stents are primarily used to treat coronary artery diseases. In 2020, the coronary stents segment dominated the market, a trend expected to continue due to the increasing prevalence of coronary artery disease and technological advancements in stent design.
◦ Peripheral Stents: Used for peripheral artery diseases, this segment is anticipated to witness considerable growth owing to the rising incidence of peripheral artery disease and the development of advanced stent technologies.
◦ Stent-Related Implants: This category includes various implants associated with stent procedures.

2. By Material:
◦ Metallic Biomaterials: In 2020, metallic biomaterials held a dominant position in the market. Their widespread use is attributed to their strength and reliability in various medical applications.
◦ Polymeric Biomaterials: This segment is expected to experience significant growth due to advancements in polymer technology, offering benefits such as reduced inflammation and improved biocompatibility.
◦ Natural Biomaterials: These materials are gaining attention for their potential in reducing adverse reactions and promoting natural healing processes.

3. By End User:
◦ Hospitals: In 2020, hospitals were the major contributors to the stents market. Factors such as the availability of advanced medical facilities and a higher volume of surgical procedures contribute to this dominance.
◦ Ambulatory Surgical Centers: These centers are expected to witness considerable growth due to their increasing adoption for various surgical procedures, driven by benefits like reduced hospital stays and lower costs.
◦ Others: This category includes specialized clinics and research institutions involved in stent-related treatments and studies.

4. By Region:
◦ North America: In 2020, North America garnered the major share in the stents market, attributed to the high prevalence of cardiovascular diseases, advanced healthcare infrastructure, and the presence of key market players.
◦ Europe: Europe holds a significant share due to the increasing adoption of advanced stent technologies and supportive government initiatives.
◦ Asia-Pacific: This region is expected to register the highest CAGR of 8.7% from 2021 to 2030, driven by a growing geriatric population, rising healthcare expenditures, and increasing awareness about cardiovascular health.
◦ LAMEA (Latin America, Middle East, and Africa): The stents market in LAMEA is anticipated to grow due to improving healthcare infrastructure and a rising burden of cardiovascular diseases.

Key Players in the Stents Market
The stents market comprises several key players who contribute to its growth and innovation. Notable companies include:

• Abbott Laboratories
• B. Braun Melsungen AG
• Biotronik SE & Co. KG
• Boston Scientific Corporation
• Becton, Dickinson and Company
• Elixir Medical Corporation
• Medtronic Plc.
• MicroPort Scientific Corporation
• Reva Medical, Inc.
• Terumo Corporation

These companies are actively involved in research and development to introduce innovative stent solutions and expand their market presence.

The stents market is poised for substantial growth in the coming years, driven by factors such as the increasing prevalence of cardiovascular diseases, technological advancements, and supportive government initiatives. With continuous innovation and strategic collaborations among key players, the market is expected to offer improved solutions for patients requiring stent procedures.

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