The vascular stents market value was USD 10.57 billion in 2023, driven by the increasing prevalence of cardiovascular diseases globally. The market size is anticipated to grow at a CAGR of 8% during the forecast period of 2024-2032 to achieve a value of USD 17.10 billion by 2032.
Vascular Stents: Introduction
Vascular stents are tiny, tube-like medical devices used to treat narrowed or weakened arteries in the body. They are typically made of metal or plastic and are inserted into blood vessels during a minimally invasive procedure known as angioplasty. Once in place, stents help to keep the artery open, improving blood flow and reducing the risk of blockages that can lead to serious conditions such as heart attacks or strokes. Vascular stents have evolved significantly since their introduction, with advancements including drug-eluting stents that release medication to help prevent the artery from closing again. They have become crucial tools in the treatment of cardiovascular diseases, providing a less invasive alternative to open surgery and significantly improving patient outcomes.
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Key Trends in the Global Vascular Stents Market
The global vascular stents market has been exhibiting robust growth, driven by increasing incidences of cardiovascular diseases, technological advancements in stent technology, and rising demand for minimally invasive procedures. Aging populations and lifestyle-related risk factors such as obesity and diabetes have also contributed to market growth. Drug-eluting stents (DES) have remained popular due to their efficacy in reducing restenosis rates. The market has also seen a trend towards bioresorbable stents, which are expected to offer significant benefits over traditional metal stents. Geographically, North America and Europe have been leading the market, but the Asia-Pacific region is emerging as a fast-growing market due to increasing healthcare expenditure and awareness. However, stringent regulatory policies and the high cost of vascular stents have posed challenges. Overall, the market has been dynamic, with continuous innovation and a focus on improving patient outcomes.
Global Vascular Stents Market Segmentations
Market Breakup by Type
- Drug-Eluting Stents
- Bare-Metal Stents
- Bio absorbable Stents
Market Breakup by Product Type
- Coronary Stents
- Peripheral Vascular Stents
- Evar Stent Grafts
- Others
Market Breakup by Material
- Metallic Stents
- Cobalt Chromium
- Platinum Chromium
- Nickel Chromium
- Stainless Steel
- Others
Market Breakup by Mode of Delivery
- Balloon – Expandable Stents
- Self – Expanding Stents
Market Breakup by End User
- Hospital and Cardiac Centres
- Ambulatory Surgical Centres
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Global Vascular Stents Market Overview
The global vascular stents market was experiencing robust growth, driven by the increasing prevalence of cardiovascular diseases, advancements in stent technology, and a rising geriatric population. Coronary artery disease and peripheral artery disease were the primary applications propelling demand. Innovations such as drug-eluting stents, bioresorbable stents, and advancements in materials and coatings contributed to improved patient outcomes and expanded applications. Geographically, North America and Europe held significant market shares, attributed to advanced healthcare infrastructure and high healthcare expenditure. However, Asia-Pacific was emerging as a rapidly growing market, due to increasing healthcare awareness and improving healthcare facilities. The market was also witnessing a competitive landscape with key players focusing on R&D, strategic collaborations, and geographic expansions to consolidate their positions. Despite the positive outlook, stringent regulatory frameworks and the risk of complications like stent thrombosis remained as challenges. Overall, the market was poised for sustained growth, underpinned by technological advancements and a growing patient base requiring vascular intervention.
Global Vascular Stents Market: Competitor Landscape
The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
- Abbott Laboratories
- Boston Scientific Corporation
- Biotronik, Inc.
- MicroPort Scientific Corporation
- Braun Melsungen AG
- Terumo Corporation
- Meril Life Sciences Pvt. Ltd.
- Medtronic
- BD
- Biosensors International Group, Ltd.
- Lepu Medical Technology
- Koninklijke Philips N.V.
- Teleflex Incorporated.
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