The Global stents market was valued at US$ 8.0 Bn in 2020 is expected to reach US$ 11.3 Bn by 2027, with a growing CAGR of 4.9% during the forecast period (2021-2027).
Stents are small, mesh-like expandable tubes that are inserted into narrowed arteries in the body in order to open up vessels or arteries. Depending upon clinical condition, varieties of stents are available. Stent implantation is most commonly used in cardiac diseases like artery blockage, atherosclerosis, etc. Stents are also used in expanding oesophagus to allow the passage of edible items to the patients with oesophageal cancer. Stents are also used in ureter and bile. Stents are mostly made up of metal, polymers and bioabsorbable materials. These materials do not cause any harm to the body and stents can be kept for years and years. Increase in technology advancements leads to high accuracy and minimal invasive stents surgeries tends to provide opportunities for industrial growth. Followed by, rising coronary heart patients stimulates the demand for PCI procedure.
Stringent regulatory rules act as a barrier in the growth of stents market. For instance, European Association of Percutaneous Cardiovascular Interventions provides the clinical guidelines for the usage of stents. Moreover, Office of Combination Products also have set of guidelines for the use of drug eluting stents by medical professionals. These hinders the growth of the stents market across the globe.
The Global Stents Market Segmentation:
By Mode of delivery
By Geographical Region
Based on type, drug- eluting stents is expected to boost the stents market during the forecast period
Drug-eluting stents can be used for various treatments like renal diseases, ST-segment elevation myocardial infraction (STEMI), diabetes etc. Technology advancements boost the growth of drug-eluting stents market. These stents are coated with medicine, which get released in vessels and tends to expand the vessels and prevents the blockages in future. This leads to elevate the demand for the growth of stents market.
Based on mode of delivery, self-expandable stents delivery is expected to dominate the stents market in the forecast period
Self–expandable stents segment to hold maximum share during the forecast period. Clinically proven efficiency of self-expandable stents creates an opportunity for increase in players for manufacturing across the globe. Self-expandable stents prove to be feasible in the treatment of acute myocardial infraction and owns the ability of enlargement of artery at perfect position. This feature of self-expandable stents will drive the growth of the stents market during the forecast period.
Based on materials, metallic segment registered the highest share in 2020 and expected to increase the market share of stents in coming years
The metal segment is expected to increase the market share of stents market. Metallic stents are considered to the material of choice, as it offers many advantages over other materials like texture, flexibility, biocompatibility and fracture. Another factor for propelling the growth of metallic stent segments is the metallic stents with biodegradable polymers.
Based on end user, hospital segment is expected to hold major market share in coming years
Hospital segment to dominate the tents market in coming years. Hospitals provides each and every facility needed for surgeries and are well equipped. The external factors like consumption of alcohol, smoking, change in life styles adds in populations which leads to increase in number hospital admissions. This stimulates the need for advanced treatments and offers growth opportunity of the stents market. Also, the presence of skilled doctors and medical staff and quality of care offered after surgeries, supports the growth of this segment.
Based on geographical region, North America held the largest share in 2020.
North America is considered to be leading region in stents market as compared to other regions. Factors like life style, diseased conditions, obesity, incidences of stroke, heart attack are driving the growth of stents market in North America. Provided, the use of advanced technology further supports in increase in stents market revenue. Increase in number of various diseases like PCI, coronary heart diseases, angioplasty leads to usage of stents in such procedures and stimulate the market of North America.
Asia Pacific is expected to witness the fastest growth during the forecast period. Presence of government reforms and economic developments with in developing countries like India and China, acts as supporting factor for the regional growth of stents market. Adaption of western culture, and sedentary lifestyle contribute to the growth of market.
Company Profiles and Competitive Intelligence: Medtronic plc, Biotronik SE & co. KG, Abbott laboratories, Boston scientific corporation, Microport scientific corporation, Biosensors international group, ltd., B. Braun Melsungen AG, Terumo corporation, Stentys SA, Meril life sciences pvt. Ltd., Vascular concepts, and Translumina GmbH are some of the major operating players in the global stent industry.
The report also provides in-depth analysis of stents market dynamics such as drivers, restraints opportunities and challenges
COVID-19 Impact on the Stents Market Analysis
Covid-19 has highly affected the industries in terms of growth, economy, health and mental wellbeing of every individual. In this challenging situation, healthcare industry is trying to give best services in terms of quality and safety. Due to sudden outbreak of covid-19, there was decline in growth of stents market. The supply of raw materials, medical devices, equipment were delayed due to restrictions on movements. For instance, the manufacturing plants in the US, Ireland and Malaysia to supply the products across the globe was impacted. Due to decrease in demand for coronary stents, the products related to surgeries and stents were not sold and this affected the growth of stents market. Whereas, the subsidiary companies without proper manufacturing unit's tires to import the stents with relative higher cost and overall cost of procedures in selected regions to the patients. During covid pandemic, the focus of medical practitioner was on providing treatment to covid patients, which led to delay in performing surgeries.
The report also provides in-depth analysis of key trends in the stents market
Due to Covid-19, there has been decline in the demand for the surgical procedures and medical devices due to lack in supply of materials from manufacturing countries.
Increasing number of coronary artery disease and peripheral vascular disorders globally, tends to increase in demand for stents.
The report also provides an in-depth analysis of recent news developments and investments
Company Profiles and Competitive Intelligence
The key players operating in the stents market are:
The unique insights provided by this report also includes the following:
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