Stents Market Size By Product (Vascular Stents [Coronary Stents {Bare Metal Stents, Drug Eluting Stents, Bioresorbable Stents}, Peripheral Stents {Iliac Stents, Femoral-Popliteal Stents, Renal Stents, Carotid Stents}, Neurovascular Stents], Non-vascular S

Stents Market Size By Product (Vascular Stents [Coronary Stents {Bare Metal Stents, Drug Eluting Stents, Bioresorbable Stents}, Peripheral Stents {Iliac Stents, Femoral-Popliteal Stents, Renal Stents, Carotid Stents}, Neurovascular Stents], Non-vascular Stents), By Material (Metal, Polymer), By Type, (Self-expandable Stents, Balloon-expandable Stents), By End-use (Hospitals, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook, Application Potential, Covid-19 Impact Analysis, Price Trends, Competitive Market Share & Forecast, 2022 - 2028

State-of-the-art technologies are set to pave the way for the growth of the stents market through 2028. In addition, increasing focus on product innovation as well as rapid technological advancements are driving the development of advanced stents, which is expected to further facilitate market expansion over the forecast period.

Key industry players have been focusing on forming strategic alliances to advance developments and innovation, thereby fostering industry outlook. To cite an instance, in November 2021, healthcare firm B. Braun partnered with REVA Medical, a medical device company. The agreement entailed the distribution of REVA’s Fantom Encore, a unique bioresorbable scaffold for coronary interventions.

The global stents market has been segmented in terms of product, material, type, end-use, and region. In terms of product, the stents industry has been split into vascular stents and non-vascular stents.

Among these, the non-vascular stents segment is anticipated to reach above USD 923.1 million in revenue by 2028. Increasing prevalence of chronic diseases would fuel the demand for non-vascular stents in the healthcare sector, which is set to supplement segmental progress.

By material, the market has been divided into metal and polymer. The polymer material segment is expected to witness strong growth at a CAGR of approximately 5.3% through the assessment timeline. Technological advancements and product development initiatives by key players have paved the way for bio-absorbable polymer stents in the stents market, which is foreseen to facilitate segmental development in the future.

For instance, in September 2021, BIOTRONIK, a leading medical technology company, introduced Orsiro Mission, its novel BP-DES (bio-absorbable polymer drug eluting stent) technology, after receiving approval from Food and Drug Administration (FDA) of the United States. The firm also demonstrated the first implant in the U.S., along with a full commercial launch of the novel system. The new generation of DES system showcased advanced deliverability through an ultrathin strut design, which is claimed to be the thinnest technology available in the U.S.

Based on type, the stents market has been classified into self expandable and balloon expandable. The self expandable segment is anticipated to grow at an exponential rate to surpass a valuation of USD 4243.3 million by 2028.

With respect to end-use, the market has been fragmented into ambulatory surgical centers, hospitals, and others. In 2021, the ambulatory surgical centers segment accounted for around 20.2% share in the market.

On the regional front, the Middle East & Africa stents industry is slated to grow at a CAGR of around 5.2% over the forecast period due to increasing prevalence of cardiovascular diseases. According to the World Health Federation, cardiovascular disease is a leading cause of death across the MEA countries, accounting for over one-third of all deaths, equivalent to approximately 1.4 million per year. In 2021, the Latin America stents market held more than 4.9% share in the global industry.