Stent Market worth over $14.3bn by 2026

Stent Market size is set to surpass USD 14.3 billion by 2026, according to a new research report by Global Market Insights, Inc.
 

Stent market growth is owing to advancement in technologies, novel product launches as well as growing demand for various minimally invasive procedures. For instance, Abbott introduced a new stent in the European market, the Xience Sierra, a new generation of drug eluting stent for people with coronary artery disease. This new launch can help in enhancement in treatment options and minimize the low rates of stent thrombosis. Moreover, regulatory bodies play a key role in managing and ensuring safety parameters of diagnostic devices that will further spur the market expansion.

 

Request Sample Buy NowInquiry Before Buying
 

 

Rising demand for minimally invasive procedures will create growth opportunities

The use of various visualization instruments and minimally invasive surgeries have allowed physicians to reduce morbidity of many surgical procedures by eliminating need for large surgical incision. There has been growing demand for minimally invasive surgical procedures to prevent post-operative trauma and complications. With advancements in minimally invasive stents, the demand for minimally invasive surgical procedures is increasing steadily. Patients with coronary or peripheral vascular disorder undergoing minimally invasive techniques experience less pain, educed costs of treatment, and recovery time. Advantages associated with minimally invasive surgery such as smaller incision length, less blood loss during the surgery, less discomfort, and shorter hospitalization stay makes it a preferable treatment option.
 

Product failure and product recall is one of the major reasons responsible for hindering the stent market size. Stents undergo fracture, deformation, recoil and plaque prolapse. Such product failure leads to serious patient outcomes, thereby leading to withdrawal of product from the market. For instance, Abbott initiated Class I recall for its Absorb Bioresorbable Vascular Scaffold (BVS) system form Australia. The reason for product recall was high rates of adverse events such as myocardial infraction and scaffold thrombosis from use of the product. Bioresorbable stents are also reported to create complications after few years of implantation. Also, as the stents are classified in Class III category, they are subjected to stringent regulatory checks and confirmations before approval. Product recall and failure of coronary stents ultimately escalates the overall healthcare expenditure.
 

Rising prevalence of gastrointestinal, urological and pulmonary diseases will boost the demand of non-vascular stents

The non-vascular stents segment held more than 8% of the stent market share in 2019 due to growing prevalence of gastrointestinal, urological and pulmonary diseases and technological developments in non-vascular stents. According to the Center for Disease Control and Prevention (CDC), in 2017, the number of adults with diagnosed ulcers was 14.8 million. This number involves various procedures that require non-vascular stents that will propel the market value. Gastrointestinal (GI) stent has been developed for palliation of obstructive symptoms in various diseases causing obstruction of GI tract. Thus, the increasing prevalence of various diseases are expected to augment the rise in demand for non-vascular stents.
 

Polymer stents have wide array of applications that will influence the market revenue

The polymer stent segment valued at USD 2.2 billion in 2019. Polymers have found widespread applications in cardiology particular in coronary vascular intervention as stent platforms (scaffolds) and coating matrices for drug-eluting stents. Also, the polymer stents have excellent barrier properties attributable to lower permeability, providing pinhole-free conformal insulation that makes it the material of choice for first layer device coating. Such advantages associated with polymer material will increase the adoption of stents in various surgical and minimally invasive procedures. However, researchers are still focusing on biodegradable polymers that will help in reducing adverse events like in-stent restenosis, late stent-thrombosis and hypersensitivity reactions.
 

Browse key industry insights spread across 300 pages with 708 market data tables & 20 figures & charts from the report,Stent 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-expandable Stents, Balloon-expandable Stents), By End-use (Hospitals, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/stent-market 

 

Use of self-expanding stents for the treatment of esophageal cancer is a major growth rendering factor

The self-expandable stents segment accounted for 36.1% of the stent market share in 2019 propelled by increasing acceptance of stent implant surgeries worldwide. Self-expandable metal stents (SEMS) are made of a cylindrical, laser-cut metal mesh that exerts its self-expanding force until it achieves its maximum diameter. The stent is released from a device and are compressed for the purpose of recovering the intestinal lumen of a stenosed area. Therefore, the usage of self-expandable stents in various treatment solutions and procedures will fuel the market expansion. In addition, growing use of self-expandable stents in treatment of esophageal cancer will positively impact the industry growth.
 

Presence of advanced facilities in ambulatory surgical centers will attract significant customer base

Ambulatory surgical centers end-use segment in the stent market will showcase considerable growth rate of 4% till 2026 led by increasing number of patients visiting ambulatory surgical centers for stent implantation surgeries. Presence of advanced facilities in ambulatory surgical centers will further foster the market demand. Availability of professional interventional cardiologist is another factor boosting the market value over the forecast timeframe.
 

Favorable reimbursement for various surgical procedures including angioplasty will create growth opportunity for the European region

Europe stent market is estimated to reach USD 1.7 billion by 2026 on account of growing usage of vascular stents for heart disease and related disorders. The rising importance of stents over the other outdated methods that were relatively more invasive will further accelerate the market revenue over the forecast period. Also, rising geriatric population in the region with the consequent incidence rate of cardiovascular disease is also a significant contributor of the industry expansion. Furthermore, favorable reimbursement by government for surgical procedure including angioplasty procedures particularly in Germany and UK will drive the regional growth.  
 

Companies undertake inorganic growth strategies to strengthen their business portfolio and revenue

The eminent market players operating in the stent market include Abbott, Boston Scientific, Medtronic, B Braun, Biosensors, Biotronik, Stryker Corporation and Terumo Corporation. These industry leaders focus on strategies such as innovative product development & launches, mergers & acquisitions and collaboration to garner more revenue and sustain market competition.
 

Explore More on Related Topics:

Infographics

Chat with us
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies. More info X