Stents - Market Insights, Competitive Landscape and Market Forecast-2027

Stents - Market Insights, Competitive Landscape and Market Forecast-2027

Stents Market By Product Type (Coronary, Venous, Biliary, Peripheral And Others), By Material Type (Polymer, Alloy And Metal), By Type (Self-Expanding And Balloon-Expandable Stents), By End-User Type (Hospitals And Ambulatory Surgical Centers, And Others), and by geography is expected to grow at a steady CAGR forecast till 2027 owing to increasing prevalence of chronic diseases and rise in geriatric population.

Global stents market is estimated to grow at a CAGR of 5.61% during the forecast period from 2022 to 2027. The stents market is witnessing a positive growth owing to the factors such as increasing prevalence of chronic diseases, rise in geriatric population, increasing demand of minimally invasive procedures, increase in unhealthy lifestyle, thereby all factors contributing to the growth of stents market during the forecast period from 2022-2027.

Stents Market Dynamics:

One of the main drivers of the stents market is the increasing prevalence of chronic diseases. Furthermore, the rise in the prevalence of chronic diseases will lead to an increase in the mortality rate among the patient population globally. For instance, according to the dada published by World Health Organization (WHO) in 2021, each year 41 million or 71% deaths globally takes place due to chronic diseases. Further, it is estimated that 15 million people aged 30-69 years die each year, 17.9 million die due to cardiovascular diseases annually, followed by cancer (9.3 million), respiratory diseases (4.1 million), and diabetes (1.5 million). All these four diseases account for over 80% of all chronic deaths. People living with diabetes are more prone to cardiovascular diseases such as coronary artery disease, heart attack, and others. Moreover, stents can be used to treat cancers such as stomach, lung and others as well as respiratory and cardiovascular diseases. Therefore, owing to a rise in the prevalence of these chronic diseases, the death rate is also increasing significantly. Thus, by providing the treatment with the help of stents, the mortality rate that is increasing as a result of chronic diseases can also be minimized, thereby driving the demand and growth of stents market.

Moreover, another key factor which is responsible for the growth of stents market is rise in geriatric population, according to World Health Organization (WHO) October 2021 data, it was estimated that between year 2015-2050 people of age 60 and above will be doubled from 12-22% and will reach 2.1 billion by 2050. Further, by 2030, 1 in 6 people in the world will age 60 years or above. The number of persons aged 80 years or older is expected to triple between 2020 and 2050 to reach 426 million. Therefore, rise in geriatric population will lead to rise in chronic diseases as this population have more chances of getting diseases such as coronary artery diseases and others which require implantation of stents as their treatment solution, which can enhance the growth of stents market as the demand will rise.

However, stringent regulatory approvals for stents and complications associated with implantation of stents can slow down the stents market growth.

Additionally, the ongoing COVID-19 pandemic has negatively impacted the stents market. The nationwide lockdown in almost every country, restricted the movement of people, supply chains & logistics were halted, unavailability of the workforce at the production sites hampered the manufacturing rate due to which there was product shortage in the market, elective surgeries were not given priority as COVID-19 patients were given more preference in terms of treatment. For instance, as per the American Hospital Association 2020, in between March and June 2020, there had been an estimated loss of USD 50.7 billion to the United States hospitals as a result of the reduction observed in “elective” procedures including stents implantation. As per the same source, on an average these procedures had accounted to about 31% of the net revenue in the United States. However, with masses being vaccinated, relaxation in lockdown restrictions, resumption of supply chains, logistics, and manufacturing units, increase in the elective surgeries, the stents market has picked momentum and is expected to further grow during the forecast period.

Stents Market Segment Analysis:

Stents market by Product Type (Coronary, Venous, Biliary and Peripheral, Others), by Material Type (Polymer, Alloy and Metal ), by Type (Self-Expanding and Balloon-Expandable Stents), by End-User Type (Hospitals, Ambulatory Surgical Centers, and Others), and by Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In by product type segment of stents market, coronary stents are estimated to hold highest share in year 2021, to avoid the heart attack which is caused due to blockage of coronary arteries, stents can be introduced to treat blocked arteries. According to WHO 2021 data, in 2019 approximately 17.9 million people died due to cardiovascular diseases globally. Out of 17 million premature death (people of age under 70), 38% deaths were caused due to cardiovascular diseases. Therefore, due to increasing prevalence of cardiovascular diseases, death rate is also increasing. Thus, providing treatment with the help of coronary stents, mortality rate due to these cardiovascular diseases can be limited, this induces the growth of coronary stents market leading to the growth of overall stents market forcast during (2022-2027).

The rising approval and launch of coronary stent will alos promote the demand of stents, leading to an overall growth of the stents market, for instance, in September 2021, BIOTRONIK, a leading medical device company, announced U.S. Food and Drug Administration (FDA) approval of its Orsiro® mission bioabsorbable polymer coronary drug-eluting stent system (BP-DES) in the US.

Therefore, increasing prevalence of cardiovascular diseases and approval & launch of coronary stents, increases the stents demand thereby, driving the growth of the overall stents market during the forecast period from 2022-2027.

North America is expected to dominate the overall Stents Market:

Among all the regions, North America is estimated to dominate the global stents market in the year 2021 and is expected to do the same during the forecast period from 2022-2027. Factors such as rising prevalence of sedentary lifestyle and rising technological advancements associated with the stents increases the stents market in North America.

According to Centers For Disease Control and Prevention (CDC) January 2022 data, in 2021, 25% of the US adults population were found to be physically inactive. In 2020, more then 15% adults were physically inactive. Therefore, rising prevalence of sedentary lifestyle enhance the risk of developing diseases such as diabetes, cancer and others among the US population which require stents as a treatment solution ultimately increase the demand of stents thereby, propelling the growth of stents market in North America.

Furthermore, technological advancements also driving the growth of stents market. For instance, in August 2019, FDA approved treatment of peripheral arterial disease with paclitaxel-coated balloons and paclitaxel-eluting stents are approved to treat obstructed lesions in arteries of the legs.

Further, in January 2020, FDA Approved 3D-printed airway stents developed by Cleveland Clinic doctor, these stents are used to keep the airways open of patients having serious disorders, such as tumors, inflammation, trauma or other masses.

Thus, all above mentioned factors wil surge the demand of stents thereby, driving the growth of the overall stents market during the forecast period from 2022-2027.

Stents Market Key Players:

Some of the key market players operating in the stents market include Boston Scientific Corporation, BD, Medtronic, Abbott, Cook, Merit Medical Systems, Novatech SA, Terumo Europe NV, MicroPort Scientific Corporation, Fuji Systems Corp, MICRO-TECH EUROPE, Vascular Concepts, Olympus America, W. L. Gore & Associates, Inc, B. Braun Melsungen AG, BIOTRONIK SE & Co. KG, Teleflex Incorporated, Elixir Medical Corporation, REVA Medical, LLC, among others.

Recent Developmental Activities in the Stents Market:

• In June 2021, Abbott, a global healthcare leader announced its XIENCE family of stents has received FDA approval for one-month DAPT labeling for high bleeding risk (HBR) patients in the U.S
• In October 2020, Medtronic plc, a global leader in medical technology, announced that it has received FDA approval for the Abre™ venous self-expanding stent system in U.S for use in the iliofemoral veins in patients with symptomatic iliofemoral venous outflow obstruction
• In March 2019, BD, a leading global medical technology company, received U.S. FDA premarket approval for first venous stent to treat iliofemoral venous occlusive disease

Key Takeaways from the Stents Market Report Study:

• Market size analysis for current stents market size (2021), and market forecast for 5 years (2022-2027)
• The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the stents.
• Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years
• Key companies dominating the global stents.
• Various opportunities available for the other competitor in the stents market space.
• What are the top performing segments in 2021? How these segments will perform in 2027.
• Which is the top-performing regions and countries in the current stents market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for stents market growth in the coming future?

Target Audience who can be benefited from this Stents Market Report Study

• Stents products providers
• Research organizations and consulting companies
• Stents-related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and traders dealing in stents
• Various End-users who want to know more about the stents market and latest technological developments in the stents

Frequently Asked Questions for Stents Market:

1. What are Stents?

Stents are tiny metal or plastic tubes which are inserted in a blocked passageway to keep it open. Depending on where it is placed stent restores the flow of blood or other fluids.

2. What is the market for Global Stents?

Global stents market is estimated to grow at a CAGR of 5.61% during the forecast period from 2022 to 2027.

3. What are the drivers for the Global Stents Market?

The stents market is witnessing a positive market growth owing to the factors such as, increasing prevalence of chronic diseases, rise in geriatric population, increasing demand of minimally invasive procedures, increase in unhealthy lifestyle, surge in sedentary lifestyle, technological advancements in product offerings.

4. Who are the key players operating in the Stents Market?

Some of the key market players operating in the stents market include Boston Scientific Corporation, BD, Medtronic, Abbott, Cook, Merit Medical Systems, Novatech SA, Terumo Europe NV, MicroPort Scientific Corporation, Fuji Systems Corp, MICRO-TECH EUROPE, Vascular Concepts, Olympus America, W. L. Gore & Associates, Inc, B. Braun Melsungen AG, BIOTRONIK SE & Co. KG, Teleflex Incorporated, Elixir Medical Corporation, REVA Medical, LLC, among others.

5. Which region has the highest share in Stents Market?

North America is estimated to dominate the global stents market. Factors contributing to the growth of stents market includes rising prevalence of sedentary lifestyle, increasing product approval in the region, and rising technological advancements associated with the stents are drivgn the North America stents market.  

Please Note: It will take 7-10 business days to complete the report upon order confirmation.