The size of the global vascular stent market is predicted to be worth USD 23.90 billion by 2027 and USD 16.19 billion in 2022, growing at a CAGR of 8.10% during the forecast period.
The vascular stent helps to prevent or clear blockages in the heart valves and arteries. Sometimes these devices are also used to support the internal structure of stenotic or occluded blood vessels. Vascular stenting is a procedure where the vascular stent places inside the body with specific instruments. Polyethene, polypropylene or non-absorbable materials are major components used to manufacture vascular stents.
In general, the vascular stent is like tiny wire mesh tubes made up of plastic mesh or metal-like materials. Then these metal-like materials are placed into blood vessels, arteries to open the narrowed vessels, and these are also used to reduce the chances of getting a heart attack or chest pain. This process of placing a vascular stent into a body is known as vascular stenting.
MARKET DRIVERS:
Growing incidences of cardiovascular and obesity problems across the world and growing older people is also one factor fuelling the growth of the global vascular stent market.
Adopting sedentary lifestyles and changes in food habits also lavish the growth rate of the global vascular stent market. Increasing capital income in both developed and developing countries is to set up growth opportunities for the market. People's priority for minimally invasive surgeries is surging the growth of the market to the extent. Furthermore, growing concern about health and demand for proper treatment procedures prompts the need for the vascular stent market.
Major companies manufacturing vascular stent devices are involved in strategic acquisitions, collaborations, and mergers to sustain the market. As there is a significant rise in the number of patients suffering from cardiovascular diseases, the medical field companies focus on innovations and new medical concepts to increase the recovery rate of treatments.
MARKET RESTRAINTS:
However, the cost of the treatment procedure is a bit expensive, and this factor is slightly hampering the growth of the market. In addition, this procedure performs under expertise where a lack of skilled persons is a challenging factor for the vascular stent market.
In general, the vascular stent devices are very rigid, used to provide the necessary support for the usual tubular, hollow, and some structures in one position. But the vascular stent market faces some restraints as the product recalls, failure of the devices during the period of assessments, and high cost of research and development. In addition, the high price of the vascular stent is also one of the major restraints of this vascular stent market.
REPORT COVERAGE:
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REPORT METRIC |
DETAILS |
|
Market Size Available |
2021 to 2027 |
|
Base Year |
2021 |
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Forecast Period |
2022 to 2027 |
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Segments Covered |
By Product, Type, Mode of Delivery, Material, End-User, Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter's Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
This research report on the global vascular stent market has been segmented and sub-segmented based on the product, type, mode of delivery, material, end-user, and region.
Vascular Stent Market – By Product
Based on the product, Coronary stents product type is dominating with the highest shares of the market. Focusing on promoting the well-being of the patient after surgery with less pain is enhancing the market demand. In addition, increasing disposable income in urban areas is fuelling the growth of the market.
Vascular Stent Market – By Type
Based on type, the Drug-eluting stents type is holding the highest shares of the market. Increasing the scale of pharmaceutical industries and growing priority to manufacture quality drugs at low cost is prompting the market demand.
Vascular Stent Market – By Mode of Delivery
Based on the Mode of Delivery, Balloon's expandable stents mode of delivery is growing faster in recent years. A rIn addition, a rise in awareness over the availability of various treatment procedures through digital advertisements boosts the market demand.
Vascular Stent Market – By Material
Based on the material, the Metallic stents segment is leading to significant shares of the market. In addition, a rise in the demand for long lifespan materials is magnifying the need of the market.
Vascular Stent Market – By End-user
Based on End-User, the Hospitals sector is having the most significant shares of the market. The emergence of the latest equipment in hospitals with support from private and public organizations is broadening the market's growth. Also, a rise in the flow of patients to hospitals is leveraging the demand for this segment.
Vascular Stent Market – By Region
Based on region, The vascular stent market in North America is leading, accounting for a significant global market share, with the United States accounting for a considerable percentage. North America's lead is warranted by the presence of a high incidence of CVD patients and increasing the use of vascular stents by cardiovascular surgeons. On the other hand, Europe comes in second in terms of market share due to rising awareness about blood-related disorders and the swift availability of treatment in terms of plasma fractionation. Further, increasing investments in the construction of hospitals are elevating the demand for this market. Also, ongoing research in developing new products with the help of advanced technology is significantly influencing the need for the vascular stent market.
The vascular stent market in Europe is to grow faster in foreseen years with the growing revenue strength in significant countries. Also, increasing incidences of various diseases related to the heart boost the growth of the market.
The vascular stent market in the Asia-Pacific region is expected to expand at the highest CAGR during the forecast period. It is due to the presence of a vast population base, increasing adoption of advanced technologies, and the low manufacturing costs of Vascular Stents in the emerging economies of the region.
The growth of the Vascular Stent Market in Latin America is driven by factors such as the increasing geriatric populace, the growing frequency of incidence of cardiovascular diseases, and the rising consumer and surgeon preference for stents in the place of substantially invasive procedures.
The growth of the Vascular Stent Market in the Middle East & Africa is driven by the increasing use of vascular stents for cardiovascular diseases. This is further supplemented by the increasing preference for stents over other outdated methods which were relatively more invasive. The rising elderly populace in the Middle East and Africa with the consequently increasing incidence of CVDs is also a major sponsor of market growth in the region.
KEY MARKET PARTICIPANTS:
Noteworthy companies operating in the global vascular stent market profiled in this report are Medtronic PLC (Ireland), Abbott Laboratories (U.S.), Boston Scientific Corporation (U.S.), BIOTRONIK SE & Co. KG, 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).
RECENT MARKET DEVELOPMENTS:
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Product
5.1.1 Introduction
5.1.2 Coronary Stents
5.1.3 Peripheral Stents
5.1.3.1 Carotid Artery Stents
5.1.3.2 Renal Artery Stents
5.1.3.3 Femoral Artery Stents
5.1.3.4 Illiac Artery Stents
5.1.3.5 Other Peripheral Stents
5.1.4 EVAR Stent Grafts
5.1.4.1 Abdominal Aortic Aneurysm Stents
5.1.4.2 Thoracic Aortic Aneurysm Stents
5.1.5 Y-o-Y Growth Analysis, By Product
5.1.6 Market Attractiveness Analysis, By Product
5.1.7 Market Share Analysis, By Product
5.2 Type
5.2.1 Introduction
5.2.2 Drug-Eluting Stents
5.2.3 Bare Metal Stents
5.2.4 Bioabsorbable Stents
5.2.5 Y-o-Y Growth Analysis, By Type
5.2.6 Market Attractiveness Analysis, By Type
5.2.7 Market Share Analysis, By Type
5.3 Mode of Delivery
5.3.1 Introduction
5.3.2 Balloon Expandable Stents
5.3.3 Self-Expanding Stents
5.3.4 Y-o-Y Growth Analysis, By Mode of Delivery
5.3.5 Market Attractiveness Analysis, By Mode of Delivery
5.3.6 Market Share Analysis, By Mode of Delivery
5.4 Material
5.4.1 Introduction
5.4.2 Metallic Stents
5.4.2.1 Cobalt Chromium
5.2.4.2 Platinum Chromium
5.2.4.3 Nickel Titanium
5.2.4.4 Stainless Steel
5.4.3 Polymer Stents
5.4.4 Other materials
5.4.4 Y-o-Y Growth Analysis, By Material
5.4.5 Market Attractiveness Analysis, By Material
5.4.6 Market Share Analysis, By Material
5.5 End User
5.5.1 Introduction
5.5.2 Hospitals and Surgical Centers
5.5.3 Research Institutes
5.5.4 Y-o-Y Growth Analysis, By End User
5.5.5 Market Attractiveness Analysis, By End User
5.5.6 Market Share Analysis, By End User
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Product
6.1.3.3 By Type
6.1.3.4 By Mode of Delivery
6.1.3.5 By Material
6.1.3.6 By End User
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Product
6.1.4.3 By Type
6.1.4.4 By Mode of Delivery
6.1.4.5 By Material
6.1.4.6 By End User
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Product
6.1.5.3 By Type
6.1.5.4 By Mode of Delivery
6.1.5.5 By Material
6.1.5.6 By End User
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Medtronic Plc
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Abbott Laboratories
8.3 Boston Scientific Corporation
8.4 Biotronik Se & Co, Kg
8.5 B. Braun Melsungen Ag
8.6 Terumo Corporation
8.7 Microsoft Scientific Corporation
8.8 Meril Life Sciences
8.9 Vascular Concepts Limited
8.10 C.R Bard
8.11 W.L Gore and Associates
8.12 Endologix
8.13 Lombard Medical
8.14 Translumina Gmbh
8.15 Jotec Gmbh
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
11. Appendix
a) List of Tables
b) List of Figures
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