Global Vascular Stents Market Report and Forecast 2023-2031

Global Vascular Stents Market Report and Forecast 2023-2031

Global Vascular Stents Market Outlook

The global vascular stents market size attained a value of USD 16.7 billion in 2022, driven by the rising geriatric population across the globe. The market is expected to grow at a CAGR of 8.0% during the forecast period of 2023-2031 to attain a value of USD 33.3 billion by 2031.

Vascular Stents Market: Introduction

Vascular stents are small, mesh-like tube-shaped devices, used to treat narrowed or blocked blood vessels. They are typically made of metal (such as stainless steel, cobalt-chromium alloy, or nitinol) or synthetic materials (such as polymers) and are designed to be implanted within the blood vessel to provide structural support and restore or improve blood flow.

The primary uses of vascular stents include:

Treatment of atherosclerosis: Atherosclerosis is a condition characterized by the build-up of fatty deposits (plaques) inside the arteries, causing them to narrow and restrict blood flow. Vascular stents are commonly used to treat atherosclerosis by expanding the narrowed blood vessel, thereby restoring blood flow and relieving symptoms like chest pain (angina) or improving organ function.
Management of coronary artery disease: coronary artery disease occurs when the arteries that supply blood to the heart become narrowed or blocked by plaque build-up. Coronary stents, specifically designed for use in the coronary arteries, are used during procedures such as percutaneous coronary intervention (PCI) or angioplasty to open the narrowed or blocked arteries and improve blood flow to the heart.
Treatment of peripheral artery disease: Peripheral artery disease affects the arteries outside the heart and brain, typically in the legs, causing reduced blood flow and potential complications like leg pain, non-healing wounds, or tissue damage. Vascular stents can be used to open narrowed or blocked peripheral arteries, improving blood flow and relieving symptoms.
Aneurysm repair: An aneurysm is an abnormal bulge or ballooning in the blood vessel walls, which can be prone to rupture. In certain cases, vascular stents, known as endovascular stents, can be placed within the blood vessel to reinforce the weakened area and prevent rupture.
The benefits of vascular stents include:

Improved blood flow: Vascular stents effectively restore and improve blood flow through the blocked or narrowed blood vessels, which can alleviate symptoms and prevent further complications associated with reduced blood flow, such as heart attacks, strokes, or limb ischemia.
Minimally invasive: The placement of vascular stents is generally a minimally invasive procedure compared to open surgery. It involves inserting the stent through a small incision or catheter, often leading to shorter recovery times, reduced hospital stays, and lower risk of complications.
Customizability: Vascular stents come in various sizes, designs, and materials, allowing for customization based on the specific anatomical and clinical needs of the patient. This versatility enables healthcare professionals to choose the most appropriate stent for each individual case.
Long-term durability: Vascular stents are designed to be durable and long-lasting within the body. They provide a permanent structural support to the blood vessel and are resistant to corrosion or degradation over time.
Expandability: Many vascular stents are designed to be expandable, meaning they can be compressed for delivery and then expanded once properly positioned within the blood vessel. This feature allows for precise placement and adaptation to the vessel's diameter, ensuring optimal blood flow restoration.
It is important to note that the use of vascular stents requires proper patient selection and consideration of individual factors. The decision to use a stent and the choice of stent type should be made by a qualified healthcare professional based on the patient's medical condition, anatomical considerations, and overall treatment goals.

Vascular Stents Market Segmentations

The market can be categorised into type, product type, material, mode of delivery, end user, and region.

Market Breakup by Type

Drug-Eluting Stents
Bare-Metal Stents
Bio absorbable Stents
Market Breakup by Product Type

Coronary Stents
Peripheral Vascular Stents
Evar Stent Grafts
Others
Market Breakup by Material

Metallic Stents
Cobalt Chromium
Platinum Chromium
Nickel Chromium
Stainless Steel
Others
Market Breakup by Mode of Delivery

Balloon - Expandable Stents
Self - Expanding Stents
Market Breakup by End User

Hospital and Cardiac Centres
Ambulatory Surgical Centres
Others
Vascular Stents Market Breakup by Region

North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Italy
Others
Asia Pacific
China
Japan
India
ASEAN
Australia
Others
Latin America
Brazil
Argentina
Mexico
Others
Middle East and Africa
Saudi Arabia
United Arab Emirates
Nigeria
South Africa
Others

Vascular Stents Market Scenario

The vascular stents market has experienced significant growth and is expected to continue expanding in the foreseeable future. Several factors contribute to the positive market scenario.

Firstly, there is a growing prevalence of cardiovascular diseases, such as atherosclerosis and coronary artery disease, which necessitate the use of vascular stents. The increasing incidence of risk factors like obesity, sedentary lifestyles, and aging populations has contributed to the rise in cardiovascular diseases, driving the demand for vascular stents.

Secondly, technological advancements have led to the development of innovative stent designs and materials, improving their effectiveness and safety. Drug-eluting stents, which release medications to prevent restenosis (re-narrowing) of the blood vessel, have significantly reduced the need for repeat procedures. Bioresorbable stents that gradually dissolve over time have also emerged as an alternative, further enhancing patient outcomes.

Furthermore, the shift towards minimally invasive procedures has fuelled the adoption of vascular stents. Compared to open surgery, stent placement is less invasive, leading to shorter recovery times, reduced hospital stays, and improved patient comfort. These benefits have prompted healthcare providers to increasingly choose stent-based interventions.

Moreover, the growing geriatric population, who are more susceptible to cardiovascular diseases, is driving the demand for vascular stents. As the global population continues to age, the prevalence of age-related conditions requiring vascular interventions is expected to rise, contributing to market growth.

Additionally, favourable reimbursement policies for stent placement procedures in many countries have facilitated accessibility and affordability, further supporting market expansion.

However, challenges such as the high cost of advanced stent technologies, limited awareness in developing regions, and the potential for complications like stent thrombosis remain. Addressing these challenges and ensuring the availability of cost-effective solutions will be crucial for sustained market growth.

In conclusion, the vascular stents market is experiencing robust growth due to the increasing prevalence of cardiovascular diseases, technological advancements, the shift towards minimally invasive procedures, and favourable reimbursement policies. With ongoing research and development, the introduction of novel stent technologies, and efforts to improve patient outcomes, the market is expected to continue thriving in the coming years.

Key Players in the Global Vascular Stents Market

The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the vascular stents market are as follows:

Abbott Laboratories
Boston Scientific Corporation
Biotronik, Inc.
MicroPort Scientific Corporation
B. Braun Melsungen AG
Terumo Corporation
Meril Life Sciences Pvt. Ltd.
Medtronic
BD
Biosensors International Group, Ltd.
Lepu Medical Technology
Koninklijke Philips N.V.
Teleflex Incorporated.