Global Intravascular Stents Market 2023-2030

Global Intravascular Stents Market 2023-2030

Global Intravascular Stents Market Size, Share & Trends Analysis Report by Product (Coronary Stents, Neurovascular Stents, Peripheral Stents, Renal Artery Stents, and Aortic Stents), by Mode of Delivery (Self-Expanding Stents and Balloon-Expandable Stents), by End-User (Hospitals and Cardiac Centers and Ambulatory Surgical Centers), Forecast Period (2023-2030)

The global intravascular stents market is anticipated to grow at a CAGR of 9.4% during the forecast period (2023-2030). Pivotal factors including the increasing prevalence of peripheral vascular diseases (PVDs) and coronary artery diseases (CAD). According to the World Health Organization (WHO), cardiovascular diseases (CVDs) are the leading cause of death globally, taking an estimated 17.9 million lives each year. Further, the increasing agreement and acquisition for intravascular stents is projected to drive market growth by promoting increased acceptance and usage of these devices. In December 2021, Royal Philips, a pioneer in health technology signed an agreement to acquire Vesper Medical Inc., a US-based medical technology company that developed minimally invasive peripheral vascular devices. Vesper Medical further expanded Philips’ portfolio of diagnostic and therapeutic devices with an advanced venous stent portfolio for the treatment of deep venous disease.

Segmental Outlook

The global intravascular stents market is segmented on the product, mode of delivery and end-user. Based on the type, the market is sub-segmented into coronary stents, neurovascular stents, peripheral stents, renal artery stents and aortic stents. Based on the mode of delivery, the market is sub-segmented into self-expanding stents and balloon-expandable stents. Further, based on end-user, the market is sub-segmented into hospitals and cardiac centers and ambulatory surgical centers. Among the end-user, the hospitals and cardiac centers sub-segment is anticipated to hold a considerable share of the market, owing to the well-equipped settings, easy availability, high trust, and reliability.

The Coronary Stents Sub-Segment is Anticipated to Hold a Considerable Share of the Global Intravascular Stents Market

Among the product, the coronary stents sub-segment is expected to hold a considerable share of the global intravascular stents market. The segmental growth is attributed to the increasing prevalence of CADs, which occur when plaque accumulates in the arteries, has led to a growing demand for percutaneous coronary intervention treatments involving stents. According to the study of National Library of Medicine, the systematic review done by Rao et al. demonstrated that prevalence of CAD in urban areas was 2.5–12.6% and in rural areas, 1.4–4.6%. Additionally, the rising number of Food and Drug Administration (FDA) approvals of the products are also contributing to the increasing adoption for coronary stents. For instance, in May 2022, the US FDA approved drug-eluting stent (DES) Onyx Frontier, from Medtronic, for the treatment of patients with CAD. The new DES product leverages the same platform as Medtronic’s Resolute Onyx, designed to improve the delivery of drugs and improve acute performance.

Regional Outlook

The global intravascular stents market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America). Among these, Asia-Pacific is anticipated to hold a prominent share of the market across the globe, owing to the increasing prevalence of CVDs, and the and changes in lifestyles.

The North America Region is Expected to Grow at a Significant CAGR in the Global Intravascular Stents Market

Among all regions, the North America regions is anticipated to grow at a considerable CAGR over the forecast period. The major factors driving the North America market is the increasing number of cardiovascular disorders across the North America is estimated to positively impact the stents market growth in upcoming years. Increasing patient pool with chronic diseases is expected to drive the demand for percutaneous coronary intervention and peripheral vascular procedures. According to the American Heart Association (AHA), CVDs remains as the leading cause of death in the US, accounted for 928,741 mortalities in the year 2020. In 2020 in the US, coronary heart disease (CHD) was the leading cause (41.2%) of deaths attributable to CVD in the US, followed by stroke (17.3%), other CVD (16.8%), high blood pressure (12.9%), heart failure (9.2%), diseases of the arteries (2.6%).

Market Players Outlook

The major companies serving the global intravascular stents market include Abbott Laboratories, B. Braun SE, Boston Scientific Corp., Medtronic plc, Terumo Corp., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in November 2022, Boston Scientific Corp., acquired the Devoro Medical, Inc., developer of the WOLF Thrombectomy® Platform, to add mechanical thrombectomy platform to peripheral interventions portfolio. The innovative non-console and lytic-free WOLF technology targets and rapidly captures blood clots using finger-like prongs that retrieve and remove thrombi in the arterial and venous systems.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global intravascular stents market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.