Cardiovascular Stents Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Cardiovascular Stents Market

The global cardiovascular stents market has experienced significant growth over the past decade, driven by the increasing prevalence of cardiovascular diseases (CVDs), advancements in stent technology, and a growing preference for minimally invasive procedures. According ta report by Fortune Business Insights, the market was valued at USD 7,838.9 million in 2017 and is projected treach USD 20,669.5 million by 2032, exhibiting a compound annual growth rate (CAGR) of 6.7% during the forecast period.

Rising Incidence of Cardiovascular Diseases

Cardiovascular diseases remain the leading cause of mortality worldwide. Factors such as sedentary lifestyles, unhealthy dietary habits, obesity, and smoking have contributed tthe increasing incidence of conditions like coronary artery disease and peripheral artery disease. This surge in CVDs has escalated the demand for effective treatment options, including percutaneous coronary interventions (PCI) that often utilize stenting procedures.

Advancements in Stent Technology

Technological innovations have played a pivotal role in enhancing the efficacy and safety of cardiovascular stents. The development of drug-eluting stents (DES), which release medication tprevent restenosis, has significantly improved patient outcomes. Additionally, the introduction of bioresorbable stents, designed tdissolve after fulfilling their purpose, represents a significant advancement in stent technology. These innovations have contributed tthe increased adoption of stenting procedures globally.

Market Segmentation

The cardiovascular stents market can be segmented based on product type, stent type, disease indication, end-user, and geography.

• By Product Type:

Coronary Stenting: This segment held a dominant share in 2017, accounting for 66.9% of the market. The high prevalence of coronary artery diseases and the increasing adoption of coronary stents are key factors driving this segment's growth.

Peripheral Stenting: With the rising incidence of peripheral artery diseases, this segment is anticipated tgrow at a significant CAGR during the forecast period.

• By Stent Type:

Drug-Eluting Stents (DES): Expected tdominate the market throughout the forecast period, DES are favored due ttheir efficacy in reducing restenosis rates.

Bioresorbable Stents: These stents are designed tdissolve after providing support tthe vessel, reducing long-term complications. Their adoption is increasing with technological advancements.

Bare-Metal Stents and Others: While still in use, these stents are gradually being overshadowed by advanced alternatives.

• By Disease Indication:

Venous Diseases: This segment is anticipated tgrow with the highest CAGR during the forecast period, driven by the increasing prevalence of venous disorders.

Arterial Diseases: The high incidence of arterial diseases continues tdrive the demand for stenting procedures.

• By End-User:

Hospitals: Hospitals are the primary end-users, attributed tthe availability of advanced infrastructure and skilled professionals.

Ambulatory Surgery Centers, Specialty Clinics, and Catheterization Labs: These settings are witnessing increased adoption due tcost-effectiveness and convenience.

Regional Insights

Geographically, the market is segmented intNorth America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

• North America: In 2017, North America dominated the global market with a share of 29.91%. The region's growth is attributed tthe high prevalence of cardiovascular diseases, advanced healthcare infrastructure, and ongoing clinical trials for novel stents.
• Asia Pacific: This region is expected tgrow at a significant CAGR during the forecast period. Government initiatives, such as price capping of stents in India timprove accessibility, and improved distribution networks in countries like China and Australia are key factors propelling market growth.

Key Market Players

The cardiovascular stents market is consolidated, with major players like Abbott, Medtronic, and Boston Scientific Corporation leading the market. These companies focus on research and development tintroduce advanced stents, such as bioresorbable and bioengineered stents, tmaintain their competitive edge. For instance, in February 2018, Medtronic announced the FDA approval and launch of Resolute Onyx 2.0 mm Drug-Eluting Stent, the smallest size DES available in the market.

Future Outlook

The cardiovascular stents market is poised for substantial growth, driven by the increasing burden of cardiovascular diseases and continuous technological advancements. The introduction of next-generation stents, such as those with bioresorbable polymers, is expected tenhance patient outcomes and reduce long-term complications. Additionally, strategic initiatives by key players, including mergers, acquisitions, and partnerships, are anticipated tfoster innovation and expand market reach. For example, in October 2017, Abbott received CE approval for XIENCE Sierra, an everolimus-eluting coronary stent system for sale in all the CE mark countries.

SEGMENTATION DETAILS

By Product Type

• Coronary Stenting
• Peripheral Stenting

By Stent Type

• Drug Eluting Stents (DES)
• Bioresorbable Stents
• Bare Metal Stents
• Others

By Disease Indication

• Venous Disease
• Arterial Disease

By End User

• Hospitals
• Ambulatory Surgery Centers
• Specialty Clinics
• Catheterization Labs

By Geography

• North America (USA and Canada)
• Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
• Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
• Latin America (Brazil, Mexicand Rest of Latin America)
• Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)

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