Press release
Endovascular Stent Market Projected to Grow at 8.5% CAGR to US$ 2.99 Billion by 2034
Endovascular stents have become essential in restoring blood flow and preventing complications in patients with vascular illnesses. Advancements in stent technology, including the development of drug-eluting stents, bioresorbable stents, and stent grafts, have enhanced treatment outcomes by offering increased efficacy, reducing complications, and shortening recovery times.
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Geographically, North America is projected to hold a significant share of the market, accounting for 36.6% in 2024. This dominance is attributed to the region's advanced healthcare infrastructure and high incidence of cardiovascular diseases. The presence of leading medical device manufacturers and continuous innovations in stent technology further contribute to market growth in this region.
In terms of product segments, endovascular aneurysm repair (EVAR) stents are expected to represent 36.2% of the overall revenue in 2024. The minimally invasive nature of EVAR offers substantial advantages over traditional open surgery for treating abdominal aortic aneurysms (AAA), including shorter recovery periods and reduced risk of infection. The increasing incidence of aneurysms, particularly among the elderly, coupled with advancements in stent design, drives the demand for EVAR stents.
Key players in the endovascular stent market include Abbott Laboratories, Boston Scientific Co., Medtronic plc, Cardinal Health, Inc., B. Braun Melsungen AG, Biotronik SE & Co., Cook Medical, Inc., Terumo Co., Microport Scientific Co., Meril Life Sciences Pvt. Ltd., C.R. Bard, Vascular Concepts Ltd., VentureMed, Inc., W.L. Gore and Associates, Inc., Endologix, Inc., Translumina GmbH, and Lombard Medical Technologies. These companies are actively engaged in research and development to introduce innovative products and maintain a competitive edge in the market.
The rising prevalence of aneurysm disease and cardiac complications within the growing geriatric population are significant drivers for the endovascular stent market. According to the American Heart Association, in 2019, more than 48% of the U.S. population was affected by cardiovascular conditions. Additionally, data from the Centers for Disease Control and Prevention (CDC) in 2015 estimated that over 600,000 fatalities occurred annually in the United States due to abdominal aortic aneurysm (AAA), highlighting the critical need for effective endovascular interventions.
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In conclusion, the endovascular stent market is set for robust growth, driven by technological advancements, the increasing burden of cardiovascular diseases, and the benefits of minimally invasive procedures. Strategic initiatives by key industry players and the expansion of healthcare infrastructure, particularly in emerging economies, are expected to further propel market development in the coming years.
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