Carotid Stents Market by Type (Balloon-expandable Stents, Self-expanding Stents), Material (Metallic Stents, Polymer Stents), End-user - Global Forecast 2024-2030
The Carotid Stents Market size was estimated at USD 588.22 million in 2023 and expected to reach USD 620.98 million in 2024, at a CAGR 5.88% to reach USD 878.05 million by 2030.
Carotid stents are small, tube-shaped devices made of metal mesh. They are used in a medical procedure to ensure the carotid arteries remain open. This procedure is essential for individuals at risk of stroke due to the narrowing caused by plaque buildup inside the artery walls, a condition known as carotid artery disease. Increasing inccidences of cardiovascular diseases, including heart strokes, are drivng the need for carotid stents. The growing inclination towards minimally invasive surgeries among doctors and patients that involve shorter recovery time is driving the need for carotid stents and driving market growth. Risks and complications associated with stenting procedures hamper the growth of the carotid stents market. Rising improvements in stenting technology, including the materials and design of carotid stents that make them safer and more effective, are expected to create opportunities for market growth.
Regional InsightsAmericas shows a robust demand for carotid stents due to high awareness of stroke prevention and advanced healthcare infrastructure. The prevalence of lifestyle-related diseases such as obesity and diabetes, which contribute to cardiovascular disorders, also boosts the market. Furthermore, favorable reimbursement policies and ongoing clinical trials to improve the efficacy and safety of carotid stents support growth in this market. The APAC region is experiencing rapid growth in the carotid stents market. Factors contributing to this growth include improving health infrastructure, increasing spending on healthcare, and raising awareness of diseases related to cardiovascular health. Countries including, China and India have large populations beginning to have better access to healthcare services. Europe is a major region for carotid stents due to well-established healthcare systems and high awareness about preventative healthcare. The strong regulatory framework and the presence of leading healthcare companies also contribute to steady market growth. The Middle East and Africa have a diverse market with varying access to healthcare. The wealthier Gulf countries show potential for market growth due to increasing investment in health infrastructure.
Market InsightsMarket Dynamics
The market dynamics represent an ever-changing landscape of the Carotid Stents Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
Market Drivers
- Rising inccidences of cardiovascular diseases worldwide
- Growing preference for minimally invasive surgeries among doctors
Market Restraints
- High costs of development of carotid stenting
Market Opportunities
- Rising technological developments in carotid stents with improved flexibility and plaque coverage
- Availability of educational initiatives about the benefits and safety of carotid stenting
Market Challenges
- Limited compatibility with existing medical procedures
Market Segmentation Analysis
- Type: Growing usage of balloon-expandable stents due to their precision in placement
- End-user: High accessibility carotid stents across hospitals due to their comprehensive medical facilities
Market Disruption Analysis
- Porter’s Five Forces Analysis
- Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
FPNV Positioning MatrixThe FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Carotid Stents Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share AnalysisThe market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Carotid Stents Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent DevelopmentsSilk Road Medical Launches Advanced Carotid Stent System in the U.S.Silk Road Medical, Inc. introduced the Tapered ENROUTE Transcarotid Stent System to U.S. hospitals. This advancement builds on the existing ENROUTE system, featuring new configurations to better align with individual patient anatomies. The system supports the Transcarotid Artery Revascularization (TCAR) procedure, a minimally invasive approach designed to significantly enhance stroke protection while reducing complications. This launch marks a significant step in customized, patient-centered stroke intervention strategies.
Expanded Medicare Coverage Facilitates Access to Cordis Carotid StentsCordis endorsed a new policy by the Centers for Medicare & Medicaid Services (CMS) that extends coverage for minimally invasive carotid artery treatments. This decision enhances patient access to the Precise Pro Rx carotid stent system, developed by Cordis for endovascular carotid therapy. The company commended the medical community for effectively demonstrating the benefits of carotid artery stenting (CAS), underlying its commitment to supporting advancements in cardiovascular health management.
Breakthrough in Stroke Prevention: Introduction of CGuard Prime by InspireMDInspireMD, Inc., successfully treated the first patient suffering from carotid artery disease with its innovative CGuard Prime stent. This procedure is part of the company's CGuardians U.S. IDE trial. CGuard Prime represents InspireMD's latest advancement in carotid artery stenting (CAS) technology, showcasing ongoing efforts to enhance stroke prevention strategies.
Strategy Analysis & RecommendationThe strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Carotid Stents Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company ProfilesThe report delves into recent significant developments in the Carotid Stents Market, highlighting leading vendors and their innovative profiles. These include Abbott Laboratories, B. Braun SE, Balton Sp. z o. o., Becton, Dickinson and Company, Biotronik SE & Co KG, Boston Scientific Corporation, Cardinal Health, Inc., Contego Medical, Inc., Cook Group Incorporated, InspireMD Inc., Medtronic PLC, MicroPort Scientific Corporation, Silk Road Medical, Inc., Stryker Corporation, W. L. Gore & Associates, Inc., and Zhejiang Barty Medical Technology Co., Ltd..
Market Segmentation & CoverageThis research report categorizes the Carotid Stents Market to forecast the revenues and analyze trends in each of the following sub-markets:
- Type
- Balloon-expandable Stents
- Self-expanding Stents
- Material
- Metallic Stents
- Polymer Stents
- End-user
- Ambulatory Surgical Centers
- Hospitals
Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
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