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Global Peripheral Vascular Stents Market Size, Share & Industry Trends Analysis Report By Mode of Delivery (Balloon-expandable Stents, and Self-expanding Stents), By End-use, By Product, By Stents Type, By Regional Outlook and Forecast, 2023 - 2030

The Global Peripheral Vascular Stents Market size is expected to reach $2.7 billion by 2030, rising at a market growth of 7.4% CAGR during the forecast period. In the year 2022, the market attained a volume of 2,468.7 thousand units, experiencing a growth of 6.8% (2019-2022).

Increase in the prevalence of disorders like PAD can be ascribed to several factors, including sedentary lifestyles, unhealthful eating patterns, and an aging population. Therefore, the Asia Pacific region would generate 1/4th share in the market by the year 2030. The expansion of the peripheral vascular stents industry is also fueled by growing government initiatives and supportive policies in the region, such as public awareness campaigns, disease prevention programs, and favorable reimbursement policies, which encourage cutting-edge medical technology and promote cardiovascular health. Some of the factors impacting the market are rising global aging population, increasing awareness and diagnosis, and increasing need for healthcare cost containment.

The global aging population is more susceptible to vascular diseases. The demand for peripheral vascular stents develops as the elderly population grows. For example, peripheral artery disease (PAD) is more likely to occur in older adults. These conditions often involve the narrowing or blockage of arteries in the legs and other peripheral areas of the body. With age, the risk of atherosclerosis and plaque buildup in the arteries increases, necessitating interventions like stent placement. An increased prevalence of risk factors for vascular diseases, including hypertension, diabetes, and high cholesterol, often accompanies aging. These factors can accelerate the progression of vascular diseases, leading to a greater need for treatment, including using vascular stents. Additionally, Efforts to increase awareness of peripheral vascular diseases and the importance of early diagnosis contribute to the market's growth. As more people are diagnosed with vascular conditions, there is a greater need for treatment options, including stents. Early detection and diagnosis can result from a greater awareness of peripheral vascular disorders, their risk factors, and symptoms. Awareness campaigns can help reduce health disparities by ensuring that individuals from underserved communities are informed about the risks and symptoms of peripheral vascular diseases. This can result in earlier diagnosis and treatment for populations at increased risk. Increased awareness and diagnosis of peripheral vascular disorders significantly influence market growth.

However, Healthcare systems around the world are under pressure to contain costs. This pressure leads to increased scrutiny of the cost-effectiveness of stent procedures, potentially limiting their use. Healthcare providers and payers often pressure medical device manufacturers to lower the prices of peripheral vascular stents. This reduces manufacturer profit margins and limits their ability to invest in research and development for innovative stent technologies. The reimbursement rates set by government healthcare programs, private insurers, and other payers play a crucial role in determining the economic viability of stent procedures. Healthcare cost containment is a significant challenge in the market, as it affects the adoption and utilization of stent procedures.

Furthermore, during the initial phases of the pandemic, many non-urgent medical procedures, including elective vascular procedures, were postponed or canceled to conserve healthcare resources and reduce the risk of infection. This led to a decline in the number of peripheral vascular stent placements. Healthcare facilities implemented strict infection control measures, which influenced how procedures were conducted. These measures included enhanced sterilization protocols and personal protective equipment (PPE) requirements. Factors such as changes in patient behavior, healthcare delivery models, and healthcare policies continue to influence the market. Consequently, the market is expected to experience stable growth during the forecast period, considering the subsiding effects of the pandemic.

Mode of Delivery Outlook

Based on mode of delivery, the market is classified into self-expanding stents and balloon-expandable stents. The self-expanding stents segment acquired a substantial revenue share in the market in 2022. Self-expanding stents comprise shape-memory materials, such as nitinol, that can expand to conform to the vessel walls. This flexibility enables the stent to conform to challenging lesions or narrow arteries, restoring blood flow and providing effective support.

End Use Outlook

By end-use, the market is segmented into hospitals & cardiac centers, ambulatory surgical centers, and others. In 2022, the hospitals & cardiac centers segment registered the maximum revenue share in the market. General hospitals are significant players in the market. It provides a wide range of medical services and has specialized departments and interventional suites where peripheral vascular procedures, including stent placement, are performed. With the growth of telemedicine, healthcare facilities, including hospitals and cardiac centers, have incorporated telehealth services for consultations, follow-ups, and remote monitoring of patients who have undergone peripheral vascular stent procedures.

Product Outlook

On the basis of product, the market is divided into iliac artery stents, femoral artery stents, carotid artery stents, renal artery stents, and other. The femoral artery stents segment garnered a significant revenue share in the market in 2022. The prevalence of PAD and other vascular diseases affecting the femoral arteries is on the rise, driven by factors such as an aging population and the increasing incidence of risk factors like diabetes and obesity. This growing patient population creates a higher demand for femoral artery stents. Femoral artery stent placement is a minimally invasive procedure that can be performed through a small incision. As patients and healthcare providers increasingly prefer minimally invasive treatments over open surgery, the demand for femoral artery stents grows.

Stents Type Outlook

By stents type, the market is categorized into drug eluting stents (DES), bare metal stents (BMS), and bioabsorbable stents. In 2022, the drug eluting stents (DES) segment held the highest revenue share in the market. Compared to bare metal stents (BMS), drug-eluting stents (DES) can reduce restenosis rates. The capability of DES to reduce the incidence of major adverse cardiac events (MACE) is a critical factor in their widespread adoption. The stent's medication coating lowers the risk of clot formation by preventing stent thrombosis. This improves patient safety and overall survival rates by reducing the frequency of heart attacks, strokes, and other cardiovascular events.

Regional Outlook

Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America region led the market by generating the highest revenue share. North America has a well-established healthcare infrastructure, including cutting-edge medical facilities and competent healthcare professionals. This infrastructure facilitates diagnosing and treating cardiovascular diseases, making peripheral vascular stents accessible to regional patients.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Boston Scientific Corporation, Medtronic PLC, Terumo Corporation, Abbott Laboratories, Biotronik SE & Co. KG, Stryker Corporation, Cook Medical, Inc. (Cook Group), MicroPort Scientific Corporation, LifeTech Scientific Corporation and iVascular S.L.U.

Strategies developed in Peripheral Vascular Stents Market

Sep-2023: Boston Scientific Corporation announced an acquisition of Relievant Medsystems, Inc., a privately held medical device company providing treatment for vertebrogenic pain. Through this acquisition, the clinically-backed technology of Relievant Medsystems can be integrated with the strategies of Boston Scientific Corporation and thus extend treatment to individuals requiring personalized treatment.

May-2023: Stryker Corporation took over Cerus Endovascular Ltd., a privately owned medical device company. Through this acquisition, the neurovascular business of Stryker has been upgraded, and the hemorrhagic portfolio of the company has been enhanced globally.

Feb-2023: Abbott Laboratories completed the acquisition of Cardiovascular Systems, Inc., a cardiovascular medical device company. Through this acquisition, the technologies of CSI were incorporated into Abbott's vascular device products. Additionally, the atherectomy system of CSI provided physicians with additional tools to treat patients.

Aug-2022: Boston Scientific Corporation took over Obsidio, Inc., an early-stage medical device company. Through this acquisition, Boston Scientific Corporation enhanced its oncology and embolization portfolio. Additionally, the company provided solutions for the physicians as well as the patients with cancer, hemorrhages, and several other debilitating conditions.

May-2022: Medtronic PLC completed the acquisition of Intersect ENT, a health care equipment company. Through this acquisition, PROPEL and SINUVA were incorporated into Medtronic. Implantation of PROPEL maintains sinus patency and delivers steroids, while SINUVA implantation is used to treat nasal polyps in patients who have undergone ethmoid sinus surgery.

Feb-2022: Boston Scientific Corporation acquired Baylis Medical Company, Inc., a leader in the development and commercialization of innovative medical devices. Through this acquisition, Boston Scientific amalgamated the platforms of Baylis with its own electrophysiology and structural heart products and hence expanded its position in the cardiology markets.

Sep-2021: Boston Scientific Corporation completed the acquisition of Devoro Medical, Inc., a developer of a medical device intended to restore blood flow. Through this acquisition, the WOLF Thrombectomy Platform was integrated into Boston Scientific's products. Additionally, this acquisition provided the physicians with the necessary tools needed for the treatment.

Jul-2020: iVascular S.L.U launched the sergeant peripheral support catheter. The sergeant peripheral support catheter is a CE marked OTW catheter, meant for patients suffering from peripheral artery disease in small vessels and those having a challenging anatomy during the diagnostic and interventional procedures. The sergeant permits guidewire exchanges and assists in the delivery of saline solutions and diagnostic contrast agents.

Jun-2020: iVascular SLU unveiled the essential pro, a novel reliable DCB. essential pro helps in dilatation of stenosis or coronary artery or bypass grafts occlusions and residual stenosis after treating with balloon or endoprosthesis and also in the pre- and post-dilation of coronary endovascular prosthesis.

Scope of the Study

Market Segments covered in the Report:

By Mode of Delivery (Volume, Thousand Units, USD Million, 2019-2030)

• Balloon-expandable Stents
• Self-expanding Stents

By End-use (Volume, Thousand Units, USD Million, 2019-2030)

• Hospitals & Cardiac Centers
• Ambulatory Surgical Centers
• Others

By Product (Volume, Thousand Units, USD Million, 2019-2030)

• Iliac Artery Stents
• Femoral Artery Stents
• Carotid Artery Stents
• Renal Artery Stents
• Others

By Stents Type (Volume, Thousand Units, USD Million, 2019-2030)

• Drug Eluting Stents (DES)
• Bare Metal Stents (BMS)
• Bioabsorbable Stents

By Geography (Volume, Thousand Units, USD Million, 2019-2030)

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA

Companies Profiled

• Boston Scientific Corporation
• Medtronic PLC
• Terumo Corporation
• Abbott Laboratories
• Biotronik SE & Co. KG
• Stryker Corporation
• Cook Medical, Inc. (Cook Group)
• MicroPort Scientific Corporation
• LifeTech Scientific Corporation
• iVascular S.L.U.

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