Vascular Stent Market by Product (Coronary Stents, Peripheral Stents and EVAR Stent Grafts), by Type (Bare Metal Stents, Drug-Eluting Stents, and Bioabsorbable Stents), by Mode of Delivery (Balloon-Expandable Stent and Self-Expanding Stent), by Material (Metallic Stents and Polymeric Stents), and by End-User (Hospitals, Cardiac Centers, and ASC’s): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024

Global vascular stent market expected to generate revenue of around USD 13.62 billion by the end of 2024, growing at a CAGR of around 7.65% between 2018 and 2024. Stents are the type of medical devices that can be permanently placed into the artery and narrow blood vessels which helps to keep the artery & narrow blood vessel open and functional.

21-Sep-2018 | Number of pages: 110 | Report Code: ZMR-284 | Report Format : | Status : Published

Analysis

Initially, the vascular stents concept was first described by Alexis Carrel in 1912 and in 1964; the concept was revisited by Charles Dotter which led to the popularity for the use of vascular stents in treating cardiovascular disorders. Vascular stents are the stents which are placed in the peripheral artery so that the artery opens & functions properly.

According to the World Health Organization, over 17.3 million people died due to cardiovascular disease (CVD) in 2008 and the number is anticipated to reach 23.3 million by 2030. This rapid increase in the prevalence of cardiovascular disease is fueling the demand for the vascular stents. According to the WHO (World Health Organization), the population that age above 65 years is expected to increase to 2 billion by 2050. As the geriatric population suffers from various diseases related to the heart there is an increase in the population suffering from cardiovascular diseases, coronary artery diseases, stroke, and other heart-related problems. This drives the growth of the global vascular stent market. Also, the increase in the rate of smoking, rise in consumption of alcohol & tobacco, increase in demand for minimally-invasive surgeries, and increase in obese population is anticipated to drive the growth of vascular stent market.

Global Vascular Stent Market

The vascular stent market is segmented by the product, type, mode of delivery, material, and end user. Based on the product, the market is further segmented into EVAR stent grafts, coronary stents, and peripheral stents. Peripheral stents are further sub-segmented into renal artery stents, carotid stents, iliac stents, femoral stents, and others. The EVAR stent-graft segment includes abdominal aortic aneurysm and thoracic aortic aneurysm. The coronary stent market is expected to dominate the market in the forecast period due to the increase in the prevalence of coronary artery diseases. On the basis of type, the vascular stent market is segmented further into drug-eluting stents, bioabsorbable stents, and bare metal stents. The drug-eluting stents are expected to lead the vascular stent market in the forecast period due to its advantages over other types. Based on the mode of delivery, the vascular stent market is sub-segmented into balloon expandable stent and a self-expanding stent. Balloon-expandable stent segment is anticipated to dominate the vascular stent market. The material segment includes metallic stents and polymeric stents. Metallic stents are further segmented into platinum chromium, cobalt chromium, stainless steel, and nickel titanium. Polymeric stents include standard polymeric stents and biodegradable polymeric stents. The polymeric stents are anticipated to show the highest demand in the forecast period. The end-user segment includes hospitals, cardiac centers, and ASCs. The hospital segment is expected to dominate the end-user segment.

North America is anticipated to dominate the market in the forecast period due to the increase in adoption of minimally invasive surgeries and increase in obesity rate which leads to cardiovascular disorders. The Asia Pacific is expected to show the highest growth due to increase in the occurrence of vessel-related blockages because of the changing lifestyle. Also, the increase in a number of various companies for the investment in this region and the launch of the technologically advanced product by them is expected to fuel the growth of the vascular stent market. 

The main players in the global vascular stent market are Boston Scientific, Cardinal Health, Cook Medical, Medtronic, B. Braun Melsungen AG, Terumo Corporation, Abbott Laboratories, Goodman Co. Ltd., Biotronik SE & Co. KG, and Vascular Inc. The major companies focus on the introduction of new innovative technologies. In 2016, Abbott Vascular introduced the first absorbable stent for coronary artery disease namely Absorb GT1 Bioresorbable Vascular Scaffold System.


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