Global Venous Stents Market is Expected to Reach USD 1.70 Billion by 2025 : Fior Markets

New Jersey, NJ, Sept. 17, 2019 (GLOBE NEWSWIRE) -- Factors such as the growing geriatric population, increasing prevalence of venous diseases and technology advancement in stents technology are driving the global venous stents market. The global venous stents markeis expected to grow from USD 0.79 Billion in 2017 to USD 1.70 Billion by 2025, at a CAGR of 9.97% during the forecast period 2018-2025, according to the new report published by Fior Markets.

Venous stents are metal mesh tubes that expand against blocked or narrowed vein walls. They are the flexible devices used in the peripheral as well as central veins and act as a scaffold for the vascular walls. The venous stents function similarly as that of the arterial stents. They are implanted for the treatment of chronic symptomatic venous diseases and chronic venous occlusion disorder. The advent of various effective technologies for the accurate placement of stents in veins and increasing investment by the key players for the development of novel flexible venous stents with high radial strength are the major factors that are expected to propel the market of venous stents over the forecast period.

Factors such as the increasing prevalence of chronic symptomatic venous diseases and chronic venous occlusion disorder as well as growing worldwide geriatric population are driving the global venous stents market. The lack of awareness about venous interventional procedures and high treatment cost are expected to hamper the market growth.

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Key players in the global venous stents market are Boston Scientific Corporation, C. R. Bard, Inc., Jotec GmBH, Veniti, Inc., Gore Medical, Cook Medical, Optimed Medizinische Instrumente GmBH, Medtronic, Medica Germany GMBH & Co. KG, Cardinal Health, Macromed, Genodynamic, and among others. Key players active in the market are involved in collaborative agreements and expansion to bolster the growth of the market.

• For instance in 2019, Boston Scientific announced that the U.S Food and Drug Administration (FDA) has approved the VICI VENOUS STENT System for the treatment of iliofemoral venous obstructive disease, which occurs when the flow of blood through the veins located deep in the pelvic region becomes blocked by a blood clot or compressed by anatomical anomalies. The venous obstructive disease affects nearly 40 percent of the population in the U.S. and can be caused by conditions such as deep vein thrombosis (DVT), post-thrombotic syndrome (PTS) and compressive diseases such as May-Thurner syndrome. In patients with venous obstructions, blood may pool in the legs, resulting in pain, swelling and skin ulcers. Endovascular treatment for venous obstructive disease is focused on restoring the normal flow of blood from the legs back to the heart. The iliofemoral veins are located deep in the pelvis and may be subject to significant crushing forces from other anatomical structures such as the right common iliac artery. To help solve for this, the VICI stent system was specifically designed to be uniformly strong and crush resistant, capable of restoring blood flow by creating a cylindrical, patent vessel.
• For instance in 2019, Gore & Associates (Gore) announced the U.S. Food and Drug Administration's (FDA's) premarket approval (PMA) of the GORE CARDIOFORM ASD Occluder for the percutaneous closure of ostium secundum atrial septal defects (ASDs). The FDA approval was supported by data collected from the pivotal stage of the Gore ASSURED Clinical Study which demonstrated 100 percent closure success at the six-month evaluation in patients with a successful implant. 

Iliac vein stents technology had a market value of USD 0.57 Billion in 2017

The technology segment is divided into iliac vein stent technology, wall stent technology and others. Owing to the properties of iliac venous stents for being flexible, possessing good radial force, MRI compatibility, and inexpensive, the Iliac vein stents technology led the global venous stents market with USD 0.57 billion revenue in 2017. Wallstent technology segment is projected to grow at a steady pace over the forecast period. 

Chest segment is anticipated to grow at a CAGR of 11.76% in 2018-2025

Application segment is categorized into legs, chest, abdomen and arm. Legs application segment emerged as the leader in the global venous stents market with USD 0.35 billion revenue in 2017. This increased growth can be attributed to the factors such as increasing prevalence of the Deep Vein Thrombosis (DVT) andincreasing geriatric population. Growing preference for minimally invasive surgical procedures and growing incidence of chronic lung disease are factors that are anticipated to propel the chest segment to grow at the highest CAGR of 11.76% over the forecast period.

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Deep vein thrombosis segment is anticipated to grow at a CAGR of 11.37% in 2018-2025

Disease Indication is segmented into chronic deep vein thrombosis (DVT), post-thrombotic syndrome (pts), may-thurner syndrome, hemodialysis/arteriovenous fistulae, and others. Technological advancements in the treatment methods, as well as rise in number of people suffering with DVT, are the factors that are expected to boost chronic deep vein thrombosis segment to grow at a CAGR of 11.37% over the forecast period.

Regional Segment Analysis of the Venous Stents Market

• North America (U.S. , Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
• Asia-Pacific (China, Japan India, Rest of APAC)
• South America (Brazil and Rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)

Europe region emerged as the largest global market for the venous stents with a 34.28% share of revenue in 2017. Presence of large geriatric population and venous stents manufacturers, as well as well-developed medical and healthcare sector, were the reasons for the Europe region to dominate the global venous stents market in 2017. Asia Pacific region is projected to grow at the highest CAGR of 12.03% over the forecast period, due to rising investment in the improvement of the healthcare standards as well as the growth of medical tourism in the region.

About the report:

The Global Venous Stents Market is analysed on the basis of value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.

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