Vascular Stents Market Research Report : Forecast 2023
Vascular stents are tiny wire mesh tubes placed into blood vessels, arteries or other hollow structures to open the blockage of vessels. The process for placement of vascular stent into body is known as vascular stenting. Vascular stenting is considered as a valuable tool for applications of non-coronary vasculature. These stents are used to open narrowed vessels and reduce the chances of chest pain or heart attack. Most of the stents are made up of metal or plastic mesh like materials. There are commonly two types of stents namely bare metal stents and covered stents, also called as stent grafts.
Increasing demand for minimally invasive surgeries globally will drive the market of vascular stents. In addition, aging population will further drive the market growth of vascular stents. According to a report published by World Health Organization (WHO), the number of people aged 65 years or older is expected to increase from 605 million to 2 billion by 2050. Thus, increasing geriatric population will fuel the demand of vascular stents hence will drive the market growth. Additionally, increasing number of cardiovascular diseases drives the growth of vascular stents market. For example, According to World Health Organization, about 17.3 million people died from cardiovascular disease (CVD) in 2008 and the number is expected to reach 23.3 million by 2030.
This increase in number of patients suffering from cardiovascular disease across the world will boost the global vascular stents market. Furthermore, advancement in technologies will drive the market of vascular stents. For example, key players have introduced drug eluting stents which eliminates the side-effects of traditional bare metal stents. Moreover, other advantages like short recovery time, low risk of infection, minimized bleeding and low cost of vascular stents over conventional surgical methods will drive the market of vascular stents. However, availability of alternative therapies such as angioplasty and others coupled with high cost of vascular stents will restrain the market growth of vascular stents.
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The market of vascular stents can be segmented as:
Standard polymeric stents
Biodegradable polymeric stents
Geographically, North America dominates the global vascular stents market due to increasing number of patients suffering from cardiovascular diseases (CVD), lack of physical activity and unhealthy diet. Europe is considered as the second largest market of vascular stents. The market of vascular stents in Europe is majorly driven by increasing use of vascular stents for cardiovascular diseases. In addition, increasing introduction of new and cost-effective vascular stents by domiciled key players will stimulate the market growth of vascular stents in Europe. Additionally, increasing preference of cardiac surgeons to use vascular stents in place of balloon angioplasty will further boost the market growth to some extent. In addition, India, China and South-East Asia are the emerging markets for vascular stents because of rising incidences of vessel related blockages. The positive initiative by government in Asia-Pacific regions toward healthcare infrastructure may also boost the growth of vascular stents market in this region.
Some of the key players contributing to the global vascular stents market comprises Cook Medical, Goodman Co. Ltd., InnoCore Technologies BV, Abbott Laboratories, Cordis Corporation, Biosensors International Ltd., MIV Therapeutics Inc., Reva Medical Inc., Boston Scientific Corporation, MicroPort Scientific Corp., Translumina GmbH, Allvivo Vascular Inc., Stentys SA, Medtronic, Inc., SurModics Inc., X-Cell Medical Inc., Xtent Inc. and others.
This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. This report provides comprehensive analysis of
Market growth drivers
Factors limiting market growth
Current market trends
Market projections for upcoming years
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