Stents, recognized as pivotal medical devices, serve as primary solutions for clearing blockages within larger arteries. Their significant role in averting aneurysms in critical blood vessels, including the brain and aorta, underscores their importance in healthcare. The stents market benefits from a surge in technological advancements, fueling its growth trajectory. As technology continuously evolves, enhancing stent design, materials, and deployment methods, the market is poised for expansion. These innovations address complex medical needs, promoting the adoption of stent procedures and contributing to the dynamic growth of the global stents market.
According to Data Bridge Market Research, the Global Stents Market was valued at USD 11,656.72 million in 2021 and is expected to reach USD 18,627.74 million by 2029, registering a CAGR of 5.73% during the forecast period of 2022-2029.
“Prevalence of coronary artery disease facilitates market growth”
The global stents market is driven by the prevalence of coronary artery disease (CAD). As CAD, characterized by narrowed or blocked coronary arteries, remains a leading cause of heart-related morbidity and mortality, the demand for effective interventions such as stents surges. Stents provide a crucial solution by restoring blood flow and alleviating symptoms in CAD patients. The increasing incidence of CAD across demographics propels the demand for stent procedures, positioning them as essential tools in managing cardiovascular health, thereby driving the growth of the global stents market.
What restraints the growth of the global stents market?
“Increase in funds presents”
The increase in funds presents a restraint in the global stents market. While funding is crucial for research, development, and innovation, an excessive influx of funds can lead to market saturation and over competition. Overinvestment may foster the rapid introduction of similar products, flooding the market and potentially diluting the demand for stents. This phenomenon could hinder revenue growth and innovation, stifling the market's ability to evolve organically. Balancing funding inflow with sustainable growth strategies is imperative to maintain a dynamic and effective stents market landscape.
Segmentation: Global Stents Market
The stents market is segmented on the basis of product, type, material, and end user.
- On the basis of product, the stents market is segmented into coronary stents, peripheral stents, and neurovascular stents and stent-related.
- On the basis of type, the stents market is segmented into self-expandable stents and balloon-expandable stents.
- On the basis of material the stents market is segmented into metallic, polymer, and natural.
- On the basis of end user, the stents market is segmented into hospitals, ambulatory surgical centers, and others
Regional Insights: North America dominates the Global Stents Market
North America's prominence in the stents market is attributed to the prevalence of sedentary lifestyles leading to a rise in obesity and cardiovascular diseases. This region's adoption of inactive routines has spurred health concerns, driving the demand for stent procedures to address heart-related ailments, and positioning North America at the forefront of stents market dominance.
The Asia-Pacific (APAC) region is poised for substantial stents market growth from 2022 to 2029 due to the region's burgeoning healthcare awareness. As healthcare understanding expands across APAC, individuals are increasingly seeking medical interventions, including stent procedures, to address cardiovascular issues. This growing awareness propels the demand for stents, fostering significant growth prospects within the region's healthcare landscape.
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Recent Development in the Global Stents Market
- In September 2019, Terumo introduced a novel radial-to-periphery self-expanding stent, tailored for above-the-knee Peripheral Artery Disease (PAD) interventions. This stent innovation integrates Rapid Exchange (RX) technology, streamlining its deployment process. The launch marked a significant advancement in treating PAD, enhancing procedural efficiency, and offering a targeted solution to address vascular challenges, positioning Terumo at the forefront of vascular intervention technologies.
The Prominent Key Players Operating in the Global Stents Market Include:
- Boston Scientific Corporation (U.S.)
- BD (U.S.)
- Medtronic (Ireland)
- Abbott (U.S.)
- Cook (U.S.)
- Merit Medical Systems (U.S.)
- Novatech SA (France)
- Terumo Corporation (Japan)
- MicroPort Scientific Corporation (China)
- Fuji Systems Corp. (Tokyo)
- MICRO-TECH EUROPE (Germany)
- Vascular Concepts (India)
- Olympus (Japan)
- W. L. Gore & Associates Inc. (U.S.)
- B. Braun Melsungen AG (Germany)
- Meditek Systems Pvt. Ltd. (India)
- Biotronik SE & Co. KG (Germany)
- Teleflex Incorporated (U.S.)
- Thoracent, Inc. (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global stents market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Stents Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
