The latest report by IMARC Group, titled “Vascular Stents Market Report by Product Type (Coronary Stents, Peripheral Vascular Stents, Evar Stent Grafts), Material (Metallic Stents, and Others), Mode of Delivery (Balloon-Expandable Stents, Self-Expanding Stents), End-User (Hospitals and Cardiac Centers, Ambulatory Surgical Centers), and Region 2024-2032“, The global vascular stents market size reached US$ 10.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 17.1 Billion by 2032, exhibiting a growth rate (CAGR) of 5.3% during 2024-2032
Factors Affecting the Growth of the Global Vascular Stents Industry:
- Growing Prevalence of Chronic Conditions:
The rise in cardiovascular diseases globally is a primary driver for the market. Conditions such as coronary artery disease, peripheral artery disease, and carotid artery stenosis require the use of stents to open blocked arteries and restore blood flow. The World Health Organization (WHO) highlights CVDs as the leading cause of death worldwide, emphasizing the critical need for effective treatment options, including vascular stents. As the global population ages and lifestyle-related health issues increase, the demand for vascular stents is expected to grow significantly.
- Technological Advancements:
The continuous innovation in stent technology significantly influences the market. Recent advancements include the development of drug-eluting stents (DES), bioresorbable vascular scaffolds, and the use of novel materials and coatings to reduce complications like stent thrombosis and restenosis. These technological improvements enhance the efficacy and safety of stents, making them a preferred choice for both physicians and patients. As manufacturers invest in research and development to create more advanced stent solutions, the market sees an expansion in its product offerings, catering to a broader range of vascular conditions.
- Government Initiatives:
Government policies and insurance reimbursement schemes play a pivotal role in the Vascular Stents market. Favorable government initiatives aimed at improving healthcare infrastructure, along with supportive reimbursement policies for cardiovascular procedures, encourage the adoption of vascular stents. In many countries, government healthcare programs and insurance providers cover a significant part of the cost associated with stent implantation procedures. This financial support makes stent treatments more accessible to a wider population, thereby driving market growth. Moreover, policies promoting healthcare awareness and screening for cardiovascular diseases contribute to early diagnosis and treatment, further stimulating the demand for vascular stents.
Competitive Landscape with Key Player:
- Medtronic Plc
- Abbott Laboratories
- Boston Scientific Corporation
- Biotronik Se & Co. Kg
- Braun Melsungen Ag
- Terumo Corporation
- Microport Scientific Corporation
- Meril Life Sciences Pvt. Ltd.
- Vascular Concepts Limited
- C.R. Bard Inc.
- W.L. Gore and Associates Inc.
- Endologix, Inc.
- Lombard Medical
- Translumina Gmbh
- Jotec Gmbh
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/vascular-stents-market/requestsample
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Product Type:
- Coronary Stents
- Peripheral Vascular Stents
- Evar Stent Grafts
Coronary stents represented the largest segment as they are widely used in the treatment of coronary artery disease, which is a common and serious cardiovascular condition, leading to a high demand for these stents.
Breakup by Material:
- Metallic Stents
- Cobalt Chromium
- Platinum Chromium
- Nickel Titanium
- Stainless Steel
- Others
Metallic stents represented the largest segment as they have been a traditional choice for coronary and peripheral artery interventions due to their durability and effectiveness in maintaining vessel patency.
Breakup by Mode of Delivery:
- Balloon-Expandable Stents
- Self-Expanding Stents
Balloon expendable stents represent the largest segment as they are typically used in combination with other stents during angioplasty procedures.
Breakup by End-User:
- Hospitals and Cardiac Centers
- Ambulatory Surgical Centers
Hospitals and cardiac centres represented the largest segment as they are the primary healthcare facilities where patients receive vascular stent procedures, including coronary and peripheral interventions.
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
North America was the largest market due to prevalence of cardiovascular diseases, advanced healthcare infrastructure, and a significant market for medical devices.
Vascular Stents Market Trends:
Vascular stent technology has been continuously advancing, with the development of bioresorbable stents and drug-eluting stents designed to improve patient outcomes and reduce complications. These innovations may continue to shape the market. Besides, there is a trend toward minimally invasive procedures, including percutaneous coronary interventions (PCI) and endovascular surgeries, which often require the use of vascular stents. This trend is driven by quicker recovery times and reduced hospital stays. Moreover, emerging economies are witnessing a rise in healthcare infrastructure and increased access to medical facilities, which is driving the demand for vascular stents. Manufacturers are looking to expand their presence in these markets.
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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