Stents Market - By Product (Vascular Stents, Non-vascular Stents), By Material (Metal, Polymer), By Type, (Self-expandable Stents, Balloon-expandable Stents), By End-use (Hospitals, Ambulatory Surgical Centers) & Forecast, 2022-2028

Stents Market Size

Stents Market size accounted for over USD 8.6 billion in 2021 and is estimated to grow at 4% between 2022 and 2028 owing to the rapid technological advancements leading to high accuracy level and increased reliability in stents. Moreover, novel developments in drug-eluting stent such as bifurcated stents as well as biodegradable materials, will boost the market value.
 

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Additionally, frequent upgradations of technology allow the introduction of minimally invasive stents, thereby fostering the market growth. Furthermore, several market players are focusing on development of minimally invasive stents to meet increasing patient needs.
 

Stents are tiny plastic or metal tube placed into the lumen of an anatomic vessel or duct to keep the passageway open. Stents are used in procedures such as coronary heart disease, peripheral artery disease and deep vein thrombosis, among others.
 

The emergence of COVID-19 pandemic has disrupted the healthcare sector and impacted the stents market share across the globe. The increasing number of COVID-19 cases across the globe disrupted the healthcare system that caused significant delays and suspension of non-essential surgeries and diagnosis of non-emergency disease conditions. The strictly imposed lockdown also led to disrupt the end-to-end manufacturing and supply chains that resulted in the limited supply of stents to the end-users. Various regulatory bodies-imposed restrictions on the movement of people and goods while halting non-essential surgical procedures like angioplasty and bypass surgeries.
 

Thus, the aforementioned factors negatively affected the global stents market growth. Further, several manufacturers and other stakeholders reported a considerable recovery in the market in 2021 as non-essential procedures were resumed and the restrictions were eased down across countries. Hence, the COVID-19 pandemic was noted to have a negative impact in the initial years, but a strategic recovery is expected to pull the market back on track in the coming years.
 

Stents Market Trends

Increasing number of cardiovascular disorders globally is estimated to positively impact the stents market growth in upcoming years. Increasing patient pool with chronic diseases is expected to drive the demand for percutaneous coronary intervention and peripheral vascular procedures.
 

For instance, according to the World Health Organization (WHO), an estimated 17.9 million fatalities are reported due to cardiovascular diseases (CVDs) annually, representing nearly 32% of all global fatalities. As number of people suffering from cardiovascular diseases is rising steadily, the demand for percutaneous coronary intervention and peripheral vascular procedures will increase, ultimately fuelling the demand for stents.
 

Stringent regulatory procedures may hamper the market expansion

Strict regulatory approvals may act as a barrier in the stents market growth. Various authorities and government organizations have laid down rules and guidelines for effective and safe employment of stents. For instance, U.S. FDA performs systemic review of literature and pre-clinical trials in animals before granting approval for stents. Also, approval of medical device is considered to be resource-intensive (time and cost) as coronary stents lie under category III device of the U.S. FDA.
 

Stringent regulations have been imposed over stents devices owing to the associated complications with the use of these devices. Owing to potentially fatal outcomes, the U.S. FDA closely monitors the use of stents. Additionally, stents are categorized under class II and some under class III medical devices that poses medium and high risk to the patient respectively. These devices are subjected to comply with strict regulatory compliances, thereby hampering the overall market demand.
 

Stents Market Analysis

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Based on product, The vascular stents segment accounted for market share of over 92.1% in 2021 and is anticipated to dominate the market throughout the forecast period. Rising geriatric population base will boost the market growth. For instance, according to the United Nations Department of Economic and Social Affairs report, in 2020, there are an estimated 727 million individuals aged 65 years or over worldwide.
 

Moreover, aging causes changes in the blood vessels and heart, thus increasing the risks of heart attack, coronary heart disease, and heart failure, thereby supplementing the market share. Furthermore, increasing usage of vascular stents in such disease treatment solution and procedures will upsurge the segmental outlook.
 

Based on material, The metal stents accounted for revenue of USD 6,937.3 million in 2021 and is expected to show significant market growth throughout the forecast period. Owing to the advantages associated with metal stents such as lower rates of stent fracture, biocompatibility, and flexibility, the demand for metal stents increases, thereby supplementing the market progress. Moreover, integration of metal stents with biodegradable polymer to overcome the limitations of conventional products will be another factor in propelling the segment growth, thereby fuelling the market forecasts.
 

Based on type, The balloon-expandable stents segment accounted for USD 5,501.9 million in 2021. Growing regulatory approval for balloon-expandable stents is expected to boost the segmental growth. The balloon expandable are composed of cobalt-chromium struts, unlike other stainless steel that have closed cell design for tight scaffolding. These stents are commonly used to prevent coronary restenosis after coronary angioplasty. Moreover, the benefits associated with balloon-expandable stents such as higher radial stiffness and relatively more accurate placement, which is important in bifurcation lesions will boost the Stents market sales.
 

The end-use segment of stents market is bifurcated into hospitals, ambulatory surgical centers and others. Hospital segment accounted for about 74.2% market share in 2021. Hospitals are noted to have developed infrastructure with technologically equipped medical devices required for effective stent procedures. Stents are commonly used in minimally invasive surgical procedures and are considered essential medical equipment.
 

Hospitals offer better care owing to the availability of skilled medical professionals and nursing staff that offer effective care treatment post-surgery. Furthermore, increasing sedentary lifestyle, improper diet and unhealth habits such as smoking, alcohol and tobacco consumption is expected increasing number of stenting procedures. Additionally, increasing focus on upgrading the healthcare infrastructure, including hospitals, is expected to fuel the Stents market revenue.
 

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North America accounted for 24.3% revenue proportion in the global stents market in 2021 due to increasing geriatric population coupled with rising prevalence of cardiovascular disease. For instance, in 2019, according to the Administration of Community Living in the U.S. population age 65 and older was 54.1 million.
 

The increasing age increases the risk of cardiovascular disorders and various other associated health disorders such as coronary heart disease and angioplasty, among others. Thus, the usage of stents for such disorders is expected to boost the market growth. Furthermore, the presence of prominent market players in the region is expected to boost the regional stents industry landscape over the forecast period.
 

Stents Market Share

Major market players operating in the stents industry include:

• Abbott
• B Braun
• Biosensors
• Biotronik
• Boston Scientific
• Medtronic
• Stryker Corporation Terumo Corporation

players. New product launch & approval, acquisition and collaboration are some of the most commonly adopted business strategies to sustain market position. These industry players implemented various strategies such as mergers and acquisitions, collaborations, new product launch, etc. in order to capture high revenue share in the stents industry.

Some of the recent industry developments:

• In May 2021, iVascular received CE mark approval for its Balloon-expanding (BX) covered stent iCover. It is used for treating arteriosclerotic lesions in iliac and renal arteries, and for the treatment of ruptures and aneurisms. This strategy enabled the company to expand their business.
   
• In December 2020, MicroPort Scientific announced that it received a registration certificate issued from China’s National Medical Products Administration (NMPA) for its Bridge vertebral drug-eluting stent. The device features a unique drug delivery design, allowing for faster endothelialization and reduced thromboembolic events and restenosis. The approval strengthens the company’s market presence.
   

The stents market report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2022 to 2028, for the following segments:

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By Product

• Vascular stents
  • Coronary stents
    • Bare metal stents
    • Drug eluting stents
    • Bioresorbable stents
  • Peripheral stents
    • Iliac stents
    • Femoral-popliteal stents
    • Renal stents
    • Carotid stents
  • Neurovascular stents
• Non-vascular stents

By Material

• Metal
• Polymer

By Type

• Self-expandable stents
• Balloon-expandable stents

By End-use

• Hospitals
• Ambulatory surgical centers
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • Singapore
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • South Africa
  • Saudi Arabia