Vascular Stent Market

Global Vascular Stent Market Size (2023 to 2028)

The size of the global vascular stent market is predicted to be worth USD 25.83 billion by 2028 and USD 17.5 billion in 2023, growing at a CAGR of 8.10% during the forecast period.

The vascular stent helps to prevent or clear blockages in the heart valves and arteries. Sometimes these devices are also used to support the internal structure of stenotic or occluded blood vessels. Vascular stenting is a procedure where the vascular stent is placed inside the body with specific instruments. Polyethene, polypropylene, or non-absorbable materials are major components used to manufacture vascular stents. In general, the vascular stent is like tiny wire mesh tubes made up of plastic mesh or metal-like materials. Then these metal-like materials are placed into blood vessels and arteries to open the narrowed vessels, and these are also used to reduce the chances of getting a heart attack or chest pain. This process of placing a vascular stent into a body is known as vascular stenting.

MARKET DRIVERS:

The growing patient population suffering from cardiovascular and obesity problems worldwide and the increasing aging population are primarily fuelling the growth of the global vascular stent market.

Adopting sedentary lifestyles and changes in food habits also lavish the growth rate of the global vascular stent market. Increasing capital income in both developed and developing countries sets up growth opportunities for the market. People's priority for minimally invasive surgeries is surging the growth of the market to the extent. Furthermore, growing concern about health and demand for proper treatment procedures prompts the need for the vascular stent market. Major companies manufacturing vascular stent devices are involved in strategic acquisitions, collaborations, and mergers to sustain the market. As there is a significant rise in the number of patients suffering from cardiovascular diseases, the medical field companies focus on innovations and new medical concepts to increase the recovery rate of treatments.

MARKET RESTRAINTS:

However, the cost of the treatment procedure is a bit expensive, and this factor is slightly hampering the growth of the market. In addition, this procedure performs under expertise where a lack of skilled persons is a challenging factor for the vascular stent market. In general, the vascular stent devices are very rigid, and used to provide the necessary support for the usual tubular, hollow, and some structures in one position. But the vascular stent market faces some restraints as product recalls, failure of the devices during the period of assessments, and high cost of research and development. In addition, the high price of the vascular stent is also one of the major restraints of this vascular stent market.

REPORT COVERAGE:

This research report on the global vascular stent market has been segmented and sub-segmented based on the product, type, mode of delivery, material, end-user, and region.

Vascular Stent Market – By Product   

• Coronary Stents
• Peripheral Stents
  • Carotid Artery Stents
  • Renal Artery Stents
  • Femoral Artery Stents
  • Iliac Artery Stents
  • Other Peripheral Stents
• EVAR Stent Grafts
  • Abdominal Aortic Aneurysm Stents
  • Thoracic Aortic Aneurysm Stents

Based on the product, Coronary stents product type is dominating with the highest shares of the market. Focusing on promoting the well-being of the patient after surgery with less pain is enhancing the market demand. In addition, increasing disposable income in urban areas is fuelling the growth of the market.

Vascular Stent Market – By Type

• Drug-Eluting Stents       
• Bare Metal Stents   
• Bioabsorbable Stents

Based on type, the Drug-eluting stents type holds the highest shares of the market. Increasing the scale of pharmaceutical industries and growing priority to manufacture quality drugs at low cost is prompting the market demand.  

Vascular Stent Market – By Mode of Delivery

• Balloon Expandable Stents 
• Self-Expanding Stents

Based on the Mode of Delivery, Balloon's expandable stents mode of delivery has been growing faster in recent years. A rIn addition, a rise in awareness over the availability of various treatment procedures through digital advertisements boosts the market demand.  

Vascular Stent Market – By Material

• Metallic Stents
• Cobalt-Chromium
• Platinum Chromium
• Nickel Titanium
• Stainless Steel
• Polymer Stents
• Other materials

Based on the material, the metallic stents segment is predicted to hold a significant share of the worldwide market. In addition, a rise in the demand for long-span materials magnifies the market's growth rate.

Vascular Stent Market – By End-user

• Hospitals
• Research Institutes

Based on End-User, the hospital segment held the largest share of the worldwide market in 2022. The emergence of the latest equipment in hospitals with support from private and public organizations is broadening the market's growth. Also, a rise in the flow of patients to hospitals is leveraging the demand for this segment.

Vascular Stent Market – By Region

• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa

Based on region, The vascular stent market in North America is leading, accounting for a significant global market share, with the United States accounting for a considerable percentage. North America's lead is warranted by the presence of a high incidence of CVD patients and the increasing use of vascular stents by cardiovascular surgeons. On the other hand, Europe comes in second in market share due to rising awareness about blood-related disorders and the swift availability of treatment in terms of plasma fractionation. Further, increasing investments in the construction of hospitals are elevating the demand for this market. Also, ongoing research in developing new products with the help of advanced technology is significantly influencing the need for the vascular stent market.

The vascular stent market in Europe is predicted to grow faster in foreseen years with growing revenue strength in significant countries. Also, increasing incidences of various diseases related to the heart boost the growth of the market.

The vascular stent market in the Asia-Pacific region is expected to expand at the highest CAGR during the forecast period. It is due to the presence of a vast population base, increasing adoption of advanced technologies, and the low manufacturing costs of Vascular Stents in the emerging economies of the region.

The growth of the  Vascular Stent Market in Latin America is driven by factors such as the increasing geriatric populace, the growing frequency of incidence of cardiovascular diseases, and the rising consumer and surgeon preference for stents in place of substantially invasive procedures.

The growth of the Vascular Stent Market in the Middle East & Africa is driven by the increasing use of vascular stents for cardiovascular diseases. This is further supplemented by the increasing preference for stents over other outdated methods which were relatively more invasive. The rising elderly populace in the Middle East and Africa with the consequently increasing incidence of CVDs is also a major sponsor of market growth in the region.

KEY MARKET PARTICIPANTS:

Noteworthy companies operating in the global vascular stent market profiled in this report are Medtronic PLC (Ireland), Abbott Laboratories (U.S.), Boston Scientific Corporation (U.S.), BIOTRONIK SE & Co. KG, B. Braun Melsungen AG (Germany), Terumo Corporation (Japan), STENTYS SA (France), MicroPort Scientific Corporation (China), Meril Life Sciences Pvt. Ltd. (India), Vascular Concepts (India), W. L. Gore and Associates (U.S.), C. R. Bard (U.S.), Endologix, Inc. (U.S.), Lombard Medical Technologies (U.K.), Translumina GmbH (Germany), and JOTEC GmbH (Germany).

RECENT MARKET DEVELOPMENTS:

• In February 2019, biotronik received approval from the United States FDA for their orisio drug-eluting stent, an ultrathin, and a bioresorbable stent. This new product is intended for PCI (Percutaneous coronary intervention) procedures. It has made the company explore its business, strengthen its market among competitors, and expand its existing customer base.
• In November 2018, WL Gore and associates received approval from United States FDA for their new product, gore carotid stent, which will be used to reopen the narrowed carotid arteries responsible for supplying blood to the brain. These innovations have strengthened its market growth among other vascular stent companies in the United States of America.