Increase in technological advancements, rising geriatric population with higher risk of cardiac diseases, development in percutaneous coronary intervention and demand for less painful procedures are the factors responsible for the growth of the Stent Market.
The global stent market was valued at USD 8.0 billion in 2020, and it is expected to reach USD 11.3 billion by 2027, with a CAGR of 4.9%, during the forecast period-2021-2027.
Medical stent is a small mesh made up of metal or plastic tube which is inserted into the narrow lumen of vessel or canal to expand the passage of vessels. Stents are often used in blocked arteries in order to open arteries and allow the flow of blood or other fluids, depending on where stent is placed. Stents are used in emergency procedures, more commonly in coronary artery blockage. Besides blood vessels, stents are used in bile ducts, bronchi and ureters to clear the passage of fluids. These stents are implanted by minimal invasion surgeries. Stents are one of most preferred implantations over coronary by-pass surgeries with less level of discomfort.
There are different types of stents available which can be used according to the purpose. Stents implanted in coronary artery are small, self-expanding and made up of metal mesh tube. Stents prevents the artery from re-closing. Self-expanding stents are mostly designed for Cerebro vasculature and these can be delivered to intracranial target with success rate of 95% with high safety profile. Drug eluting stents are coated with medicine, which is released in arteries and helps in opening of artery. These stents are permanently fixed in arteries. Development in bioresorbable vascular scaffolds and expansion stood to provide the growth opportunities to the players in the stents market.
Stents are widely used in cardiovascular disease in elderly and middle-aged- patients. Advancement in technology and Artificial intelligence paves a way towards for the growth of stents market. Inclination towards high medico-techniques, procedures, equipment's and surgeries has led to increase in demand for such minimal invasive techniques. With increases in advances in medical devices and surgery equipment's, stents are now biodegradable in nature and completely disappears with time which ultimately lessen the presence of stents in body and thus prevent late stents thrombosis. With increase in population and prevalence of cardiovascular diseases, it is estimated that stent market will boom in coming years.
According to the American Heart Association statistics of 2019, more than 85 million people suffered from heart diseases in the U.S. The number of patients with coronary heart diseases are rising, the demand for percutaneous coronary intervention also increases. This led to increase in demand and adaption of stents, which drives the stents market.
Various campaigns support the need and use of stents across the world. For instance, “Stents 4 Life” campaign initiated by European Society or Cardiology. The goal of this campaign was to promote the lifesaving manifestation of PCI, by giving priority to the invasive resources to the patients who need the most. Also, this was completely depended upon national Interventional Groups and Societies. This proves to increase the awareness about the use of stents in the market and help to boost the growth of stent market.