The new report by Expert Market Research titled, ‘Global Cardiovascular Stents Market Size, Report and Forecast 2023-2028’, gives an in-depth analysis of the cardiovascular stents market, assessing the market based on its segments like procedure type, stent type, material, disease indication, end users and regional analysis, among others.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Cardiovascular Stents Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): USD 12.8 billion
• Forecast CAGR (2023-2028): 4.8%
• Forecast Market Size (2028): USD 16.18 billion
The market for vascular stents is being driven by the increase in the world’s aging population. Additionally, due to the rising rates of coronary artery disease, there is a greater need for cardiac stent treatments. This can be linked to poor eating patterns, inactivity, and rising alcohol consumption, especially among young people.
The sector is also being boosted by the growing acceptance of minimally invasive (MI) procedures, which ensure a speedy recovery. A variety of other factors, such as less bleeding, a lower risk of infection, and a reasonable price when compared to typical surgical treatments, further promote the market for vascular stents.
Cardiovascular Stents Industry Definition and Major Segments
A vascular stent is a small tool used to clear blockages in the heart valves and arteries. It is also used to provide intrinsic structural support to stenotic or obstructed blood vessels. The process of placing a vascular stent within the body is known as vascular stenting.
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Based on procedure type, the market includes:
• Coronary Stenting
• Peripheral Stenting
By stent type, the market is segmented into:
• Drug-Eluting Stents (DES)
• Bioresorbable Stents
• Bare Metal Stents
• Dual Therapy Stent
• Others
The various materials in the market are:
• Stainless Steel
• Cobalt-Chromium
• Nitinol
• Polymers
Based on disease indication, the market is divided into:
• Venous Diseases
• Arterial Diseases
The end-users of the market are:
• Hospitals
• Ambulatory Surgery Centres
• Speciality Clinics
• Catheterisation Labs
The major regional markets of the cardiovascular stents market are:
• North America
• Asia Pacific
• Latin America
• Europe
• Middle East and Africa
Cardiovascular Stents Market Trends
Over the forecast period, the demand for cardiovascular stents is anticipated to increase due to the rising prevalence of cardiovascular diseases (CVDs), such as heart attack and stroke, and the growing elderly population at increased risk of cardiac illnesses. The low manufacturing costs and low risk percentage have also increased demand for cardiovascular stents.
The rising inclination for minimally invasive procedures is another factor anticipated to fuel the use of cardiovascular stents over the course of the forecast period. Tiny incision wounds from these procedures have the benefit of raising patient satisfaction. Additionally, these procedures lead to quicker recovery times and shorter hospital stays.
Cardiovascular stent technology has improved treatment outcomes for CVD by creating bifurcation stents and biodegradable materials, among other things. Companies actively participate in partnerships, strategic alliances, and product creation. In the coming years, the aforementioned factors are projected to propel the market for cardiovascular stents forward. Additionally, a rise in the demand for drug-eluting stents and an increase in financing from private and government organisations for the development of the healthcare industry and research facilities are also anticipated to fuel the market’s expansion on a global scale.
Due to the rising prevalence, North America controls the market for cardiovascular stents. The development of the sector in this area has been aided by the region’s rising research and development capabilities and rising healthcare infrastructure standards. The market growth in North America is primarily being driven by obesity and other cardiovascular illnesses, such as heart attack, stroke, and ischemic heart diseases (IHD), which are caused by a sedentary lifestyle.
Key Market Players
The major players in the Global Cardiovascular Stents Market are :
- Abbott Laboratories
- Boston Scientific Corporation (BSC)
- BIOTRONIK SE & Co KG
- MicroPort Scientific Corporation
- Medtronic Plc
- Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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