The global stents market is a dynamic and rapidly evolving sector within the medical device industry, driven by advancements in technology, increasing prevalence of cardiovascular diseases, and a growing elderly population. According to a comprehensive report by SkyQuest Technology, the stents market is witnessing significant growth and transformation, with various factors influencing its trajectory.
Market Overview
Stents are small, tube-like devices used to treat narrowed or weakened arteries. They play a crucial role in various medical procedures, especially in cardiology, where they are commonly used to keep blood vessels open after angioplasty. The stents market encompasses a wide range of products, including drug-eluting stents, bare-metal stents, and bioresorbable stents, each with distinct features and applications.
Global Stents Market size was valued at USD 8.8 billion in 2019 and is poised to grow from USD 9.3 billion in 2023 to USD 12.1 billion by 2031, growing at a CAGR of 3.3% in the forecast period (2024-2031).
Key Drivers of Market Growth
- Rising Incidence of Cardiovascular Diseases: Cardiovascular diseases (CVDs) remain the leading cause of death globally. The increasing prevalence of conditions such as coronary artery disease (CAD) and peripheral artery disease (PAD) drives demand for stenting procedures, as these devices are essential for effective treatment.
- Technological Advancements: Innovations in stent technology, such as the development of drug-eluting stents (DES) that release medication to prevent restenosis, and bioresorbable stents that gradually dissolve over time, are contributing to market growth. These advancements improve patient outcomes and drive adoption.
- Growing Aging Population: The global population is aging, leading to a higher incidence of age-related health conditions, including cardiovascular diseases. This demographic shift is fueling demand for stent implantation procedures.
- Improved Healthcare Infrastructure: Enhanced healthcare facilities and increased access to advanced medical technologies in emerging economies are expanding the reach of stent therapies, contributing to market growth.
Market Segmentation
The stents market can be segmented based on several factors, each of which provides insights into the various aspects of market dynamics and opportunities:
- By Type:
– Drug-Eluting Stents (DES): These stents are coated with medication that helps prevent the artery from becoming blocked again. DES are widely used due to their efficacy in reducing restenosis rates.
– Bare-Metal Stents (BMS): These are the traditional stents without any medication coating. While they are less effective in preventing restenosis compared to DES, they are still used in specific scenarios.
– Bioresorbable Stents: These stents are designed to gradually dissolve after their purpose has been served, potentially offering benefits such as reduced long-term complications and improved vessel healing.
- By Application:
– Coronary Artery Disease (CAD): The largest segment, as stents are predominantly used to treat CAD by keeping coronary arteries open.
– Peripheral Artery Disease (PAD): Stents are used to treat blockages in peripheral arteries, which can impact limbs and other areas outside the heart.
– Others: Includes stenting applications in other vascular territories such as the renal or carotid arteries.
- By End-User:
– Hospitals: Major users of stents, as they perform the majority of stenting procedures.
– Specialty Clinics: Increasingly important as specialized centers for cardiovascular procedures become more prevalent.
– Ambulatory Surgical Centers (ASCs): Offering minimally invasive procedures, ASCs are growing in importance in the stents market.
- By Region:
– North America: Dominates the market due to advanced healthcare infrastructure and high prevalence of cardiovascular diseases.
– Europe: Holds a significant share with increasing adoption of advanced stent technologies.
– Asia-Pacific: Emerging as a major growth region due to rising healthcare expenditure and expanding patient populations.
– Latin America and Middle East & Africa: These regions are witnessing gradual growth as healthcare facilities and access improve.
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Stents Market Top Company Profiles
Abbott Laboratories, B. Braun Melsungen AG, Boston Scientific Corporation, Cook Medical LLC, C. R. Bard, Inc., Medtronic plc, MicroPort Scientific Corporation, Terumo Corporation, W.L. Gore & Associates, Inc., Biotronik SE & Co. KG, Stentys SA, Meril Life Sciences India Pvt. Ltd., Biosensors International Group, Ltd., Endologix, Inc., Lombard Medical Technologies plc, InspireMD, Inc., Cordis Corporation, Comed B.V., Elixir Medical Corporation, MIV Therapeutics Inc.
