Rockville , June 01, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a provider of market research and competitive intelligence, the global arterial stents market is expected to be valued at US $ 42 Billion by the end of the forecast period of 2022-2032.
Demand is predicted to grow at a 10.5% value CAGR from 2022 to 2032, potentially reaching US$ 42,475.3 Million by the conclusion of the assessment period.
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The market for arterial stents is primarily being driven by a sedentary lifestyle that causes obesity and other cardiovascular disorders like heart attack, stroke, ischemic heart diseases (IHD), etc. The growing preference for treating COVID-19 patients is also expected to result in a decline in stent output.
Recent Developments:
- In April 2021 - BIOTRONIK announced the launch of its newest suite of tools for the more specialized implanting procedures in the His-bundle cardiac conduction system.
- In May 2022 - Medtronic plc announced it received U.S. Food and Drug Administration (FDA) approval for the Onyx Frontier™ drug-eluting stent (DES). As the latest evolution in the Resolute DES family, Onyx Frontier DES leverages the same best-in-class stent platform as Resolute Onyx™ DES, with an enhanced delivery system1 designed to improve deliverability and increase acute performance2 in even the most challenging of cases.1
Key Driving Forces Accelerating The Market Growth
- The rising incidence of cardiovascular diseases, such as coronary artery disease and peripheral artery disease, has been a major driving force for the arterial stents market. Arterial stents are commonly used in the treatment of these conditions, and as the number of patients continues to rise, the demand for stents also increases.
- Advances in stent design and technology have greatly contributed to market growth. The development of drug-eluting stents (DES) and bioresorbable stents has improved patient outcomes and reduced the need for repeat procedures. These advancements have increased the acceptance and adoption of arterial stents among healthcare professionals and patients.
- The global aging population is a significant driver for the arterial stents market. As individuals age, the risk of developing cardiovascular diseases increases. The elderly population often requires stenting procedures for the treatment of blocked arteries, leading to a higher demand for arterial stents.
- There is a growing preference for minimally invasive procedures among patients and healthcare providers. Arterial stenting offers a less invasive alternative to traditional open surgeries, resulting in reduced hospital stays, faster recovery times, and fewer complications. This preference for minimally invasive procedures has fueled the demand for arterial stents.
- Increased awareness about the importance of early detection and treatment of cardiovascular diseases has led to the implementation of various screening programs. These programs help identify individuals at risk, leading to the timely intervention and use of arterial stents.
Key Companies Profiled In this Report
- Medtronic
- Abbott Laboratories
- Boston Scientific Corporation
- Terumo Corporation
- B Braun Melsungen AG
- Biotronik
- Stentys SA
- MicroPort Scientific Corporation
- C. R. Bard, Inc.
- Cook Medical
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Vital Indicators Shaping The Future Of The Industry
- Continued advancements in stent design and technology will significantly impact the arterial stents market. The development of next-generation stents with improved biocompatibility, better drug delivery mechanisms, and enhanced long-term outcomes will drive market growth. Additionally, innovations such as bioresorbable stents, nanotechnology-based stents, and 3D-printed stents have the potential to revolutionize the market.
- Bioresorbable stents, which gradually dissolve over time, have gained attention in recent years. These stents offer advantages such as reduced risk of long-term complications and the restoration of natural vessel function. The future adoption of bioresorbable stents will depend on ongoing research and development, clinical trials, and addressing challenges related to long-term efficacy and safety.
- The future of arterial stents lies in personalized medicine approaches. The ability to tailor stent selection, sizing, and drug elution profiles to individual patient characteristics will improve treatment outcomes. Advancements in imaging technologies, genetic testing, and data analytics will enable healthcare professionals to make more informed decisions regarding stent selection, placement, and post-procedural management.
Challenges Hindering The Market Growth
- The cost of arterial stents can be a significant barrier to market growth. Stents, particularly drug-eluting stents, can be expensive, making them less accessible to patients and healthcare systems, especially in low-income regions. The high cost of arterial stents may limit their adoption and impact market growth.
- While arterial stents have proven to be effective in many cases, there are still safety concerns and potential complications associated with their use. Stent thrombosis, restenosis, in-stent occlusion, and vascular injury are among the complications that can occur. These complications can lead to adverse events and require additional interventions, impacting patient outcomes and confidence in the technology.
Strategies For Manufacturers/Suppliers To Scale In The Market
- Companies should broaden the range of arterial stents offered by introducing new product variations and sizes. This allows manufacturers to cater to a wider patient population and address specific clinical needs, leading to increased market share.
- For instance, in 2021, Biotronik announced the launch of its newest suite of tools for the most specialized implanting procedures in the His-bundle cardiac conduction system.
- Identify specific target markets within the arterial stents sector, such as coronary stents, peripheral stents, or carotid stents. By focusing on niche segments, manufacturers can tailor their products and marketing strategies to better meet the needs of those markets.
- Moreover, companies should enter new regions and international markets. Also, key companies should join alliances with research institutions, healthcare providers, and other industry stakeholders to foster collaboration and gain access to expertise, resources, and market insights. Collaborative efforts can lead to the development of novel technologies and facilitate market expansion.
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Key Segments Covered in the Arterial Stents Industry Report
- By Product:
- Coronary Stents
- Bare Metal Stents
- Drug-eluting Stents
- Bioreabsorbable Stents
- Others
- Peripheral Stents
- Self-expandable Stents
- Balloon-expanding Stents
- Others
- Coronary Stents
- By Application:
- Coronary Artery
- Carotid Artery
- Iliac Artery
- Femoral & Popliteal Artery
- Others
- By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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