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

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

Vascular Stents Market By Product Type (Coronary Stents, Peripheral Stents [Carotid Stents, Iliac Stents, Femoral Stents, Femoral Stents, Other], Evar Stent Grafts [Abdominal Aortic Aneurysm Stents, Thoracic Aortic Aneurysm Stents]), By Type (Bare-Metal Stents, Drug-Eluting Stents), By Material (Metal And Polymer), By Mode Of Delivery (Balloon-Expandable Stents And Self Expandable Stents), By End-User (Hospitals And Ambulatory Surgical Centers), by geography, is expected to grow at a noteworthy CAGR forecast till 2027 owing to rising burden of vascular diseases across the globe and increasing preferences of minimally invasive surgeries among the patient population

The global vascular stents market was valued at USD 13.31 billion in 2021, growing at a CAGR of 7.90% during the forecast period from 2022 to 2027, to reach USD 21.01 billion by 2027. The increase in demand for vascular stents is predominantly attributed to the growing prevalence of vascular disorders such as atherosclerosis, carotid artery diseases, and peripheral artery diseases, among others. In addition, growing preferences for minimally invasive surgeries among the patient population, growing technological advancement in the product arena, and approval of various vascular stents, among others are some of the factors responsible for driving the global vascular stents market in the forthcoming years.

Vascular Stents Market Dynamics:

The market for vascular stents is gathering momentum at present owing to the rising burden of various vascular disorders among the population across the globe. Vascular disorders or diseases include any condition that affects the blood vessels. Peripheral artery diseases (PAD), carotid artery diseases, coronary artery diseases, stroke are some of the types of vascular disorders which are more prevalent among the worldwide population. For instance, according to the facts revealed by the World Stroke Organization (WSO) in the year 2019, globally, over 80 million people were living who have experienced a stroke.

In addition, as per the Australian Government 2021 data, approximately 38,600 strokes were reported in the country in the year 2018 and about 6.2% of Australian adults (1.2 million) had one or more conditions related to heart, stroke, or vascular diseases in 2017-18. Similar trends are likely to observe in other countries across the globe. Thus, the rising burden of various vascular diseases worldwide is expected to increase the demand for vascular stents thereby augmenting the global vascular stents market growth during the forecast period.

Moreover, rising preferences for minimally invasive surgeries among patients are also anticipated to raise the demand for vascular stents. This is because as compared to bypass surgery, balloon angioplasty and vascular stent placement are much less invasive and relatively low-risk, low-cost procedures.

Additionally, companies receiving reimbursement for their vascular stents products could also increase the market of these devices in the upcoming years as it will raise the adoption of these devices among the patient pool. For instance, in June 2020, SMT (Sahajanand Medical Technologies Pvt Ltd), the Indian market leader in coronary heart stent received the full reimbursement confirmation for its Supraflex and Supraflex Cruz from the Ministry of Health and Public Affairs of France.

Thus, the interplay of all the above-mentioned factors is likely to boost the vascular stents market in the forthcoming years.

However, the risk associated with vascular stents and the stringent regulatory approval process of the product is likely to impede the market growth.

In addition, the unprecedented COVID-19 outbreak has slowed down the global market for Vascular Stents during the initial phases. Nationwide lockdown, canceled or denied elective surgeries to prevent the transmission of the infection, disruptive supply chain due to logistical restriction across the border are some of the reasons that lead to the sluggish market growth of vascular stents. However, owing to the approval and administration of numerous COVID-19 vaccines across the globe in the second half of 2020, there was a significant improvement in the resumption of activities across various domains including healthcare services, thereby paving the way for a sound period of recovery for the vascular stents market.

Vascular Stents Market Segment Analysis:

Vascular Stents Market By Product Type (Coronary Stents, Peripheral Stents [Carotid Stents, Iliac Stents, Femoral Stents, Femoral Stents, Other], EVAR Stent Grafts [Abdominal Aortic Aneurysm Stents, Thoracic Aortic Aneurysm Stents]), By Type (Bare Metal Stents, Drug-Eluting Stents), By Material (Metal And Polymer), By Mode Of Delivery (Balloon Expandable Stents and Self Expandable Stents), By End-User (Hospitals and Ambulatory Surgical Centers), and By Geography (North America, Europe, Asia-Pacific, and Rest of the World).

In the Vascular Stents type segment, the drug-eluting stents are expected to hold a significant market share during the forthcoming years. The main advantage associated with the drug-eluting stents is that these stents are efficient in reducing the rates of in-stent restenosis after percutaneous coronary intervention (PCI) compared to bare-metal stents (BMS) in stable coronary artery disease. Various researches have demonstrated that Drug-eluting stents (DES) reduce the rate of restenosis by over 70% compared to BMS in native coronary lesions. Thus, at present the DES placement is believed to be preferred by the surgeon during PCI surgery, thereby increasing the demand for the DES vascular stents.

Moreover, the rise in research and development activities by the manufacturers actively developing vascular stents in the market to bring new products in the upcoming years is also expected to fuel the segmental market of vascular stents. For instance, Abbott in June 2020, initiated a clinical trial for its next-generation drug-eluting stent 48mm Study (SPIRIT 48). The purpose of the study is to evaluate the safety and effectiveness of the ABT NG DES 48 in improving coronary artery luminal diameter in subjects with coronary artery disease (CAD) due to de novo native coronary artery long lesions. Moreover, this clinical investigation will be conducted under an investigational device exemption (IDE) and is intended to support market approval of the ABT NG DES 48 in the United States. The study is expected to get complete by November 2022.

Additionally, approval of various vascular stents at present could also contribute to the segmental market growth. For instance, on October 16, 2020, Biosensors International Group Ltd (Biosensors) was granted a CE Mark for BioFreedom™ Ultra, their new drug-coated coronary stent system.

Hence, all the aforementioned factors are projected to drive the segmental growth of the vascular stent market in the forthcoming years.

North America is expected to dominate the overall Vascular Stents Market:

Among all the regions, North America is expected to occupy a major share in the overall vascular stents market during the forecasted period. This is owing to the rising obesity levels, rising hypertension among the population, increase in alcohol consumption, and smoking which often leads to various cardiovascular disorders such as coronary heart and peripheral vascular disorders which require vascular stenting as a treatment. In addition, the growing geriatric population, rapid technological advancements coupled with the increasing healthcare expenditures in the region have spurred the demand for vascular stents.

Further, in the US, as per the report published by the Centers for Disease Control and Prevention in the year 2021, approximately 6.5 million people age 40 and older in the US have Peripheral Artery Diseases (PAD) in the same year.

Also, as per the above-mentioned source, the US obesity prevalence was 42.4% in 2017 – 2018 which tremendously increased from the last decade when it was 30.5% of the total US population. Through various researches, it has been concluded that obesity has an important role in atherosclerosis and coronary artery disease.

Moreover, the presence of key market players and their strategic business activities such as collaboration, approval, and launch of the product, among others are likely to bolster the regional vascular stent market in the upcoming years. For instance, in October 2020, Medtronic received approval from the US Food and Drug Administration (FDA) for its Abre Venous Self-expanding Stent System to treat deep venous obstruction, a medical condition that may limit blood flow from the leg and lead to swelling of the leg and pain when walking.

Hence, the interplay of all the above-mentioned factors is projected to spur the vascular stents market in the region during the forecasted period.

Furthermore, the Asia-Pacific region has the future potential growth for the global vascular stents market. The adoption of a sedentary lifestyle among the population which significantly increases the risk of coronary heart disease, and other vascular disorders is the key driving factor for the vascular stents market. In addition, the rising geriatric population in the region, improving healthcare infrastructure, and rise in disposable income, among others, are some of the factors which make the APAC region the fastest growing market for vascular stents during the forecasted period.

Vascular Stents Market Key Players:

Some of the key market players operating in the Vascular Stents market include Medtronic, Abbott, Boston Scientific Corporation, BIOTRONIK SE & Co. KG, B. Braun Melsungen AG, Terumo Corporation, eucatech AG, MicroPort Scientific Corporation., Meril Life Sciences Pvt. Ltd., Vascular Concepts (SMT), W. L. Gore & Associates, Inc., Becton, Dickinson and Company., ENDOLOGIX LLC., Biosensors International Group, Ltd., Lombard Medical, Translumina GmbH, JOTEC GmbH, iVascular, Cordis, Cook, SCITECH, and others.

Recent Developmental Activities in the Vascular Stents Market:

• In August 2020, Boston Scientific Corporation received FDA approval for SYNERGY™ Everolimus-Eluting Platinum Chromium Coronary Stent System (Monorail™), SYNERGY™ Everolimus-Eluting Platinum Chromium Coronary Stent System (Over-The-Wire™), and SYNERGY™ XD Everolimus-Eluting Platinum Chromium Coronary Stent System (Monorail™) is indicated for use in patients who have a narrowing in their coronary arteries and are at high risk for bleeding.
• In July 2020, INSPIRON Coronary Sirolimus-Eluting Stent from SCITECH Medical received CE Mark approval.
• In May 2020, SMT (Sahajanand Medical Technologies Pvt. Ltd) acquired the structural heart medical device firm Vascular Concepts, providing cutting-edge medical devices for the treatment of arterial diseases.

Key Takeaways from the Vascular Stents Market Report Study

• Market size analysis for current 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 Vascular Stents market.
• Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years
• Key companies dominating the Global Vascular Stents Market.
• Various opportunities available for the other competitor in the Vascular Stents Market space.
• What are the top-performing segments in 2021? How these segments will perform in 2027.
• Which are the top-performing regions and countries in the current market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for Vascular Stents market growth in the coming future?

Target Audience who can be benefited from the Vascular Stents Market Report Study

• Vascular Stents providers
• Research organizations and consulting companies
• Vascular Stents-related organization, association, forum, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders in Vascular Stents
• Various End-users who want to know more about the Vascular Stents Market and the latest technological developments in the Vascular Stents market.

Frequently Asked Questions for the Vascular Stents Market:

1. What are Vascular Stents?

Vascular stents are small tubular scaffolds widely used in the treatment of narrowing of the vessel to prevent acute vessel closure and late restenosis in a variety of vessels such as coronary arteries.

2. What is the market for Global Vascular Stents?

The global vascular stents market was valued at USD 13.31 billion in 2021, growing at a CAGR of 7.90% during the forecast period from 2022 to 2027, to reach USD 21.01 billion by 2027.

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

The major factor driving the demand for Vascular Stents is the growing prevalence of vascular disorders such as atherosclerosis, carotid artery diseases, and peripheral artery diseases, among others. Moreover, rising preferences for minimally invasive surgeries among the patient population, increasing technological advancement in the product arena, and approval of various vascular stents, among others are some of the factors responsible for driving the global vascular stents market in the forthcoming years.

4. What are the key players operating in Global Vascular Stents?

Some of the key market players operating in the Vascular Stents market include Medtronic, Abbott, Boston Scientific Corporation, BIOTRONIK SE & Co. KG, B. Braun Melsungen AG, Terumo Corporation, eucatech AG, MicroPort Scientific Corporation., Meril Life Sciences Pvt. Ltd., Vascular Concepts (SMT), W. L. Gore & Associates, Inc., Becton, Dickinson and Company., ENDOLOGIX LLC., Biosensors International Group, Ltd., Lombard Medical, Translumina GmbH, JOTEC GmbH, iVascular, Cordis, Cook, and others.

5. Which region has the highest share in the Vascular Stents market?

Among all the regions, North America is expected to occupy a major share in the overall vascular stents market during the forecast period, 2022-2027. This is owing to the rising obesity levels, rising hypertension among the population, increase in alcohol consumption, and smoking which often leads to various cardiovascular disorders such as coronary heart and peripheral vascular disorders which require vascular stenting as a treatment. In addition, the growing geriatric populations, rapid technological advancements coupled with the increasing healthcare expenditures in the region have spurred the demand for vascular stents.

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