The size of the Vascular Stent Market in the Asia Pacific was valued at USD 3.85 billion in 2022 and is projected to be growing at a CAGR of 11.6% to touch USD 6.67 billion by 2027.
A key factor supporting the growth of the APAC region's vascular stent market is the rising occurrence rate of vascular diseases. It is predicted that around 17.9 million people died due to cardiovascular diseases, which is approximately 31% in deaths that happened across the globe, and 85% are due to heart attack and stroke. The growing aging population and large obtainment of stents during the treatment of cardiovascular blockage are further the growth rate of the market to hike further. The launch of new devices for the treatment purpose is also expected to escalate market growth.
However, strict regulation of product approval, the availability of alternative treatment techniques for CVDs, and the high incidences of product failure and recalls are projected to be the significant restraints of market growth.
This research report on the Asia Pacific Vascular Stent Market has been segmented and sub-segmented into the following categories.
Regionally, the APAC vascular stent market is anticipated to be the quickest growing region in the global market throughout the analysis period due to the rise in the geriatric population, rising customer consciousness, and increasing amount spent on healthcare in this region. Increasing the colossal number of patient populations in this region is escalating this region's vascular stent market growth. Countries like India, China, Japan, Singapore, and the rest of APAC are contributing towards market growth.
The Indian vascular stent market is expected to lead the Asia Pacific market and predicted to showcase a CAGR of 6% from 2020 to 2025. Growing acquisition of remote Percutaneous Coronary Intervention (PCI) is fueling the market in India. Moreover, a frequent increase of coronary heart diseases, a heart-related illness where more than 2.1 million deaths in India occur at all ages in 2015, 0.9 million deaths are due to coronary heart disease and 0.4million by a stroke in that particular year.
China and Japan markets are anticipated to have lucrative growth during the forecast period followed after India on account of the huge patient population, increasing occurrence rate of coronary artery diseases and augmenting funds and investments government and other private organizations in the healthcare infrastructure which escalates the growth of this region. Also, the advancements in technology and increasing research and development activities towards the market is expected to drive the market growth of this region.
Most promising companies leading the Asia Pacific Vascular Stent Market profiled in this report are Medtronic, plc (Ireland), Abbott Laboratories (U.S.), Boston Scientific Corporation (U.S.), BIOTRONIK SE & Co. KG (Germany), B. Braun Melsungen AG (Germany), Terumo Corporation (Japan), STENTYS SA (France), MicroPort Scientific Corporation (China), Meril Life Sciences Pvt. Ltd. (India), Vascular Concepts (India), W. L. Gore and Associates (U.S.), C. R. Bard (U.S.), Endologix, Inc. (U.S.), Lombard Medical Technologies (U.K.), Translumina GmbH (Germany), and JOTEC GmbH (Germany).
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