Stent Market growth outlook with industry review and forecasts
Category: #health  By Rahul Varpe  Date: 2020-04-14
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Stent Market growth outlook with industry review and forecasts

Stents market is expected to exceed USD 14.0 billion in terms of value and 19.5 million units in terms of volume by 2025. Surge in number of peripheral and coronary artery surgical procedures along with growing demand for minimally invasive techniques will propel stents market growth.

Some major findings of the stents market report include:

  • Increasing number of cardiovascular surgeries will positively drive the stents market growth
  • Technological advancements to play a crucial role in stents industry
  • Coronary vascular stents to dominate the overall stents business

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  • Attributes such as biocompatibility and biodegradability to serve as a major impact rendering factor in the business growth
  • Superior long-term patency rates and improved durability will drive the self-expandable balloons market
  • Major players operating in the stents market include Abbott Laboratories, B. Braun, Boston Scientific, Terumo, and Elixir Medical Corporation
  • Competitors focus on geographic expansion and development of patient-specific stent designs to strengthen their market position

Demand for stents will be majorly affected by growing prevalence of cardiovascular diseases due to adoption of sedentary and unhealthy lifestyle. Rising elderly population base that requires peripheral coronary intervention (PCI) procedure for treatment of blockage will further boost the industry growth. For instance, as per the CDC estimates, about 8.5 million people in the U.S. are diagnosed with peripheral artery disease (PAD) and the number is further estimated to grow over the coming years. Increasing number of people suffering from PAD will upsurge the demand for stents during the forecast timeframe.

Technological advancements will also play a significant role in global stents industry expansion in the future. Major market players are investing rigorously R&D activities to develop advanced stents. For instance, Elixir developed Desolve 100 Novolimus-eluting system, a fully bioresorbable scaffold system intended for treatment of artery diseases. The stent is capable of meeting the specific patient needs with minimal post-surgery complications. Availability of such reliable stents with minimal re-obstruction rate, will thus propel the business growth.

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Based on products, the stents market is bifurcated into vascular and non-vascular stents. Vascular stents are further bifurcated in coronary, peripheral and neurovascular stents. Vascular stents accounted for revenue of USD 9.0 billion in 2018. High growth of vascular stents is attributed to increasing number of patients suffering from cardiovascular disorders (CVD) along with various technological advancements in the field. As per the European Heart Network, CVD affected more than 85 million people across the region. Thus, rising adoption of CVD treatments will prove beneficial for the industry expansion.

The stents market is categorized into materials such as metal and polymer. Polymer segment will witness significant CAGR of around 6.5% during the analysis period. Use of various biodegradable and biostable polymers such as polyethylene, polylactides, polyurethanes and polyglycolides will contribute to segmental growth. Benefits associated with polymer stents including high compatibility and reduced post-surgery complications will drive the market progress.

Self-expandable and balloon expandable stents are two types of stents manufactured by the industry players. Self-expandable stents market will exceed USD 5.0 billion by 2025. Self-expandable stents continue to grow up to the desired diameter after placement. These stents are majorly used in patients with femoropopliteal disease. Improved durability and superior long-term patency rates are some of the advantages of self-expandable balloons that will be conducive to segmental growth across the forecast period.

End-use segment is classified into hospitals and ambulatory surgical centers. Hospital segment accounted for revenue a share of about 75% in 2018 and is estimated to show steady growth during the upcoming years. Implementation of stringent guidelines in hospital settings ensures and enhances patient safety. Thus, increasing patient preference towards hospital settings owing to availability of advanced equipment and better facilities, ensuring superior surgical outcomes, will spur segment size over the projected years.

Japan stents market is poised to show robust CAGR of 6.2% during the projection period. High growth is attributed to rising prevalence of CVDs in the country. Increasing number of cardiovascular surgeries will thus foster the business growth. For instance, the number of cardiovascular surgeries is estimated to exceed 61,000 per year by 2020. Also, focus of market players on novel product development will act as another prime factor propelling business growth over the forecast period.

Few notable players operating in the stents market include Abbott Laboratories, B. Braun Melsungen AG, MicroPort Scientific Corporation, Medtronic, Boston Scientific, Terumo, Biosensors International Group, Biotronik, Elixir Medical Corporation and Meril Life Sciences. Industry players are adopting numerous strategies to strengthen market position. For instance, in September 2018, Boston Scientific announced launch of Eluvia drug eluting stent system, intended for peripheral artery disease. The new product launch enabled the company to expand its peripheral vascular devices portfolio and strengthen its market position.



About Author

Rahul Varpe

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Rahul Varpe

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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