Vascular Stents Market Overview
Various factors are propelling the global vascular stents market growth. As per the latest MRFR report, such factors include short recovery time, low risk of infection, increasing obese population, and technological advancements. On the contrary, the high price of ventricular stents and accessibility of alternative therapy are factors that may limit the global vascular stents market growth over the forecast period. Besides, the grave effect of the ongoing COVID-19 outbreak has also impacted market growth.
Vascular Stents Market is expected to register CAGR 7.40% with a market value of USD 25.3 billion during the forecast period
Surge in technical advances in stenting technologies, expanding geriatric pool and the escalating preference for minimally or non-invasive surgeries are also responsible for the burgeoning Vascular Stents Market size.Mounting angioplasty procedures and increasing product approval by authoritative agencies seem to be working in favor of the vascular stents market. Innovations in bioresorbable vascular scaffolds combined with the increased focus on emerging regions that are brimming with significant growth potential are a few lucrative opportunities that the top firms are expected to be presented with in the years ahead. With that said, the rise in product recalls as well as failures can be huge challenges for the global market over the evaluation period, slowing down the growth rate to some extent.
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Segmentation
Vascular stents industry can be categorized with respect to type, material and end user.
The various types of vascular stents available in the market are peripheral stents, evar stent grafts and coronary stents. Some types of peripheral stents are renal artery stents, carotid artery stents, iliac artery stents, femoral artery stents, and more. The evar stent grafts types are thoracic aortic aneurysm stents and abdominal aortic aneurysm stents. It is expected that the coronary stents segment can take the lead in the coming period, on account of the surging cases of coronary artery diseases along with the surge in technological advances in coronary stents.
The materials considered in the MRFR market study are ceramics stents, polymers stents and metallic stents. Polymers stents should emerge as the top segment in the global market with the biggest share, as a result of the rising uptake of bioabsorbable stents in procedures and the constant technological innovations taking place with respect to these stents.
Some of the major market end users are cardiac centers, ambulatory surgical centers and hospitals. The hospitals segment could secure the top spot in the market owing to the mounting number of hospitals that specialize in angioplasty procedures and the expanding pool of highly skilled medical professionals.
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Vascular Stents Market Regional Analysis
The market for vascular stents has been regionally divided into Europe, the Americas, MEA or Middle East Africa and Asia Pacific or APAC.
The Americas can end up being the most attractive market in the near future, as the need for vascular stents has been increasing in line with the rising cases and the high uptake of advanced technologies. High demand for minimally invasive procedures in Canada and the US can be another key growth rendering factor in the regional market. Sizeable investments that go into healthcare researches, favorable government policies, successful treatments and early diagnosis rate are a few other factors that encourage market growth in the region.
The APAC market could observe consistent growth throughout the analysis period, thanks to the rising prominence of vascular disease combined with the rapidly burgeoning elderly population. Other key contributing factors could be the escalating cases of cardiovascular diseases, increased consumption of modern technologies, and the cheaper manufacturing costs pertaining to medical devices.
Eminent Players
Some of the eminent firms in the worldwide industry are Cook Medical (US), MicroPort Scientific Corporation (China), Meril Life Sciences Pvt. Ltd. (India), Lombard Medical Technologies (UK), Cordis (US), Abbott Laboratories (US), Vascular Concepts (India), Boston Scientific Corporation (US), Translumina GmbH (Germany), W.L. Gore Associates (US), B. Braun Melsungen AG (Germany), Medtronic Plc (UK), Biotronik se co. kg (Germany), Terumo Corporation (Japan), and more.
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