Global Stents Market Segmentation, By Product (Coronary Stents, Peripheral Stents, Neurovascular stents, Stent-Related), Type (Self-Expandable Stents, Balloon-Expandable Stents), Material (Metallic, Polymer, Natural), End User (Hospitals, Ambulatory Surgical Centers, Others) – Industry Trends and Forecast to 2031.
Stents Market Analysis
Stents are considered the largest stents that are widely utilized in the removal of blockage from larger arteries. These stents prevent aneurysms from rupturing brain, aorta, or other blood vessels. The upgradation of technology is escalating the growth of stents market.
Stents Market Size
Global Stents Market size was valued at USD 13.02 billion in 2023 and is projected to reach USD 20.34 billion by 2031, with a CAGR of 5.73% during the forecast period of 2024 to 2031.
Report Scope and Market Segmentation
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Attributes
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Stents Key Market Insights
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Segmentation
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Opportunities
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Key Market Players
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Abbott (U.S.), bioMérieux (France), BD (U.S.), Danaher (U.S.), Thermo Fisher Scientific Inc., (U.S.), Siemens (Germany), Agilent Technologies, Inc, (U.S.), Merck KGaA (Germany), Fluidigm (U.S.). QIAGEN (Germany), Bio-Rad Laboratories, Inc. (U.S.), Cytiva (U.S.), Stryker (U.S.), Johnson & Johnson Private Limited (U.S.), Smith+Nephew (U.K.),and Bruker (U.S.)
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Stents Market Definition
A stent refers to as a medical device that is inserted into blocked passageway for keeping it open. This medical device is designed as a tiny tube that assists in restoring the flow of blood and other fluids to various organ of body, and are made of either plastic or metal.
Stents Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
- Prevalence of Coronary Artery Disease
The increase in the prevalence of coronary artery disease acts as one of the major factors driving the growth of stents market.
- Preference for Minimally Invasive Surgery
The increase in the preference for minimally invasive surgery owing to the advantages, such as quick recovery and less pain accelerate the market growth.
- Increase in Funds
The surge in funding from private and government organizations for development of healthcare sector and research centers further influence the market.
Opportunities
Furthermore, advancements in medical devices extend profitable opportunities to the market players in the forecast period of 2024 to 2031. Also, bioresorbable vascular scaffolds will further expand the market.
Restraints/Challenges Global Stents Market
On the other hand, stringent regulations for product approval and product failure and product recalls are expected to obstruct market growth. Also, complications associated with implantation of stents and declining costs of stents are projected to challenge the stents market in the forecast period of 2024-2031.
This stents market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on stents market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Covid-19 Impact on Stents Market
COVID-19 had a negative impact on the stents market owing to the decline in elective surgeries. Hospital access was restricted to non-essential care, and O&P clinics were temporarily closed during the pandemic. The implementation of social distancing, lockdown of the population and limited access to clinics greatly affected the market. The slow-down in patient flow and referrals, and decline in trauma and workplace injuries also impacted the market growth. However, market will resume its growth in the post-pandemic due to the easing in restrictions that were imposed earlier.
Recent Development
- Terumo announced the launch of a new radial to periphery self-expanding stent in September ’2019. This stent is specifically designed for above-the-knee PAD interventions. It incorporates Rapid Exchange (RX) technology.
Global Stents Market Scope
The stents market is segmented on the basis of product, type, material and end user. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Coronary Stents
- Peripheral Stents
- Iliac Stents
- Femoral-Popliteal Stents
- Renal Stents
- Carotid Stents
- Neurovascular Stents
- Stent-Related
- Synthetic Grafts
- Vena Cava Filters
Type
- Self-Expandable Stents
- Balloon-Expandable Stents
Material
- Metallic
- Polymer
- Natural
End User
- Hospitals
- Ambulatory Surgical Centers
- Others
Stents Market Regional Analysis
The stents market is analysed and market size insights and trends are provided by country, product, type, material and end user as referenced above.
The countries covered in the stents market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the stents market because of the adoption of sedentary lifestyle resulting in obesity and other cardiovascular diseases within the region.
Asia-Pacific (APAC) is expected to witness significant growth during the forecast period of 2022 to 2029 due to the growing healthcare awareness in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Stents Market Share Analysis
The stents market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to stents market.
Stents Market Leaders Operating in the Market Are:
- Boston Scientific Corporation (US)
- BD (US)
- Medtronic (Ireland)
- Abbott (US)
- Cook (US)
- Merit Medical Systems (US)
- 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. (US)
- B. Braun Melsungen AG (Germany)
- Meditek Systems Pvt. Ltd. (India)
- Biotronik SE & Co. KG (Germany)
- Teleflex Incorporated (US)
- Thoracent, Inc. (US)
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