The stents market size in North America is predicted to progress at a CAGR of 5.3% from 2023 to 2028 and be worth USD 6095 million by 2028 from USD 4746 million in 2023.
The growing patient population suffering from CVDs across North American countries is propelling the North American stents market. An estimated 50% of the U.S. population suffer from CVDs in their lifetime. As per the data published by the Centers for Disease Prevention and Control (CDC), an estimated 805,000 people in the United States have a heart attack. As per the same source, coronary artery disease (CAD) is the leading type of heart disease, and approximately 382,820 people died from CAD in the U.S. in 2020. WHO says an estimated 17.9 million die each year from CVDs worldwide. Stents are used mainly by the population suffering from peripheral artery disease (PAD). Lifestyle changes are the primary reason for the cause of PAD. Due to their busy lives, a large number of the population have increased their consumption of unhealthy diets, increased consumption of alcohol smoking, and reduced daily exercise. Along with this, people suffering from obesity, diabetes, and high blood pressure are likely to contract peripheral artery disease. Considering all these factors, people prefer to have stents which increase blood flow in blocked arteries and give them a quality life.
The growing aging population in North American countries is expected to contribute to the stents market growth in North America. According to the data published by the U.S. Census Bureau, the aging population in the U.S. is growing considerably and one in every four Americans are expected to age more than 65 years by 2060. With increasing aging, several changes occur in older people, which may lead to the blocking of heart valves. For instance, coronary stenting is a minimally invasive technique for people with coronary artery disease. Older people prefer to have a coronary stent through minimal invasion surgery due to less hospital stay and less time for recovery. The increasing mortality rate among older people due to heart attacks and strokes is resulting in demand for stent procedures, which supports stent market growth in North America.
In addition, the growing adoption of technological developments to manufacture well-advanced stents is predicted to promote market growth in North America. The key market players are putting significant efforts into developing biodegradable stents that disappear after a specific time without being pulled out. Increasing research and development and increasing awareness programs about the benefits of stents for people suffering from heart problems are further fuelling the growth of the stents market in North America.
However, the high costs associated with the stent procedures is slightly hampering the North American stents market growth. In addition, the side effects of the stents, such as damage to the artery where the stent is inserted, allergic reaction, excessive bleeding, and stroke or death, is another notable factor impeding the stents market in North America. Furthermore, a lack of awareness and advanced infrastructure facilities in hospitals in a few areas inhibits market growth. Additionally, alternative treatment for coronary arteria disease and lack of product approvals may challenge the market growth.
This research report on the North America stents market has been segmented and sub-segmented into the following categories.
By Product:
By Material:
By End User:
By Country:
Geographically, the North American region held the major share of the worldwide market in 2022, and the region’s domination is anticipated to continue during the forecast period owing to the growing healthcare expenditure, the availability of advanced heart surgery technology, the growing number of market participants in the North American market and the presence of international market participants.
During the forecast period, the U.S. is estimated to account for the most significant share of the North American market due to the growing number of stent procedures and an increasing number of people suffering from heart diseases. An estimated 500,000 heart stent procedures are performed in the United States every year. In addition, increasing clinical centers for clinical trials to increase the stents' success rate is further promoting the growth rate of the U.S. stents market.
Canada is another potential market for stents in the North American region and is estimated to hold a considerable share of the North American market during the forecast period owing to the increasing development of novel stents. For instance, in 2022, an ALTO Abdominal Stent Graft was manufactured by Endologix LLC, which recently got approval from Health Canada. As a result, Canada's government has increased the investment for the production of the stents at an affordable price for the people in the region.
KEY MARKET PLAYERS:
Medtronic, Abbott, Cook, Biotronik SE & Co. KG, Teleflex Incorporated, MicroPort Scientific Corporation, Fuji Systems Corp., MICRO-TECH EUROPE, Vascular Concepts, Boston Scientific Corporation, Olympus, Merit Medical Systems, Novatech SA, Terumo Corporation, W. L. Gore & Associates Inc., B. Braun Melsungen AG, Meditek Systems Pvt. Ltd., and Thoracent, Inc. are some of the noteworthy players in the North American stents market.
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