Stents Market size to exceed $14bn by 2025

Stents Market size is set to exceed USD 14 billion by 2025; according to a new research report by Global Market Insights, Inc.
 

Growing demand for minimally invasive techniques coupled with technological advancements in stent technology will drive the business growth. Moreover, rising R&D activities to develop novel products will foster the market growth during the projection period.

 

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Technological advancements have augmented the importance and role of stents in cardiovascular procedures

For decades, stents have been used in cardiovascular procedures to prevent or counteract blocking and narrowing of vessels due to an injury or disease. However, there were few drawbacks associated with the implantation of stents. For instance, reoccurrence of vessel narrowing post interventional procedure is one of the most common side effects of stent implantation. Hence, to avoid post-surgical complications, technologically advanced products such as biodegradable materials and bifurcated stents were introduced, thus boosting product demand.
 

Minimally invasive stents surgeries prove to be advantageous over traditional bypass method

Global Stent Market Trends, 2018, 2021 & 2025 (USD Million)
Global Stent Market Trends, 2018, 2021 & 2025 (USD Million)

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Growing demand for minimally invasive techniques is another major factor augmenting the business growth. For instance, endovascular stent grafting is a minimally invasive surgical intervention that requires shorter surgical and recovery time span. Hence, increasing demand for minimally invasive surgical procedures owing to its efficiency will significantly drive the market demand. Also, major players operating in the market are primarily focused on R&D activities to develop novel and less invasive surgical products. For instance, in October 2019, Medtronic plc launched Valiant Navion thoracic stent graft system in Japan developed for minimally invasive repair of thoracic descending aortic aneurysms (TAA). Such innovations will enable lucrative growth of the global stent market across the forecast timeframe.
 

Browse key industry insights spread across 300 pages with 708 market data tables & 10 figures & charts from the report, Stents Market Size 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-expendable Stents, Balloon-expendable Stents), By End-use (Hospitals, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Japan, China, India, Australia, Singapore, Brazil, Mexico, South Africa, Saudi Arabia), Price Trends, Application Potential, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/stent-market
 

Stents market demand will benefit from high prevalence of neurological disorders

Based on product, the stent industry is segmented into vascular stents and non-vascular stents. Vascular stents are further bifurcated into coronary stents, peripheral stents and neurovascular stents. The neurovascular stents segment is estimated to witness stable growth of 5.7% across the projected timeframe. Neurovascular stents are used in stent-assisted coiling of wide-neck intracranial aneurysms. Intracranial aneurysm is the leading cause of strokes. High segmental growth is attributed to increasing prevalence neurological disorders across the globe, thus augmenting the overall market outlook.
 

Based on material, the stents market is bifurcated into polymer and metal. Polymer segment is estimated to reach USD 2.9 billion by 2025. Traditional polymer stents have evolved to become bioabsorbable polymer stents that offer quality healing, advance design and better safety. Such developments in the polymer stent have resulted in lucrative market segment growth. Also, increasing number of companies manufacturing bioabsorbable stents is another key factor escalating the market demand.
 

By type, stent market includes self-expendable and balloon expendable stents. The market for self-expendable segment held considerable market share of 36% in 2018. This segment is estimated to witness favorable market expansion across the analysis period, owing to increasing adoption of stent implant surgeries worldwide. Moreover, growing use of stents in treatment of esophageal cancer will positively impact the industry growth.
 

End-use stent market segment is divided into ambulatory surgical centers and hospitals. The ambulatory surgical centers segment is estimated to witness substantial growth of 5.4% across the analysis period. Positive market growth is due to increasing number of patients visiting ambulatory surgical centers for stent implantation surgeries. Also, presence of advanced facilities in such settings will further propel business growth. Availability of professional interventional cardiologist is another chief factor boosting the industry demand.
 

High prevalence of cardiovascular disorders in Japan will spur the demand for stents

Japan stents market share held revenue of USD 1.7 billion in 2018 and will witness steady growth in the future. Positive growth rate is attributed to increasing prevalence and rising mortality rate of cardiovascular diseases in Japan. The incidence of coronary heart disease has increased among middle-aged men, due to increasing habit of alcohol consumption and tobacco smoking. Additionally, increasing PMDA approvals for novel product launch is another major factor stimulating stents industry share in Japan.
 

Leading industry players are launching innovative products to capture larger market share

Few of the leading companies include B Braun, Abbott, Biotronik, Biosensors, Boston Scientific, Stryker, Terumo and Medtronic. These companies are adopting various strategies such as new product launch, geographic expansion, mergers and acquisitions to sustain the increasing competition. For instance, in October 2019, Biotronik announced the launch of PK Papyrus covered coronary stent system for the treatment of acute coronary perforations. This novel product launch will enable the company to expand its product portfolio, thereby strengthening company’s market position.
 

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