Global Self-Expanding Stents Market 2024-2031

Global Self-Expanding Stents Market 2024-2031

Global Self-Expanding Stent Market Size, Share & Trends Analysis Report by Product Type (Open-Cell and Closed-Cell), by Application (Peripheral Artery Disease, Vascular Stenosis, Gastrointestinal Tract, Respiratory Tract, and Cardiovascular System), and by End-User (Hospitals, Specialized Clinics, and Ambulatory Surgical Centers) Forecast Period (2024-2031)

Global self-expanding stent market is anticipated to grow at a moderate CAGR of 4.5% during the forecast period (2024-2031). The ongoing advancements in self-expanding stents, continuous R&D activities to find novel applications for these stents along the increasing prevalence of targeted diseases are some of the key factors driving the growth of the global market.

Market Dynamics

Growing Prevalence of Targeted Disorders

The growing prevalence of cardiac disorders, vascular stenosis, and gastrointestinal disorders is anticipated to drive the self-expanding stents market. According to the WHO, globally, an estimated 17.9 million mortalities occur every year due to cardiovascular diseases (CVDs). With its increasing prevalence, the demand for effective treatment options, including self-expanding stents tends to increase; which in turn contributes to the global market growth. Self-expanding stents play a crucial role in the treatment of narrowed or blocked arteries by providing structural support and facilitating improved blood flow.

Increasing FDA Approvals

The increasing US FDA approvals are anticipated to drive the market growth owing to the increasing number of product outflow in the market. For instance, In July 2022, Biotronik received FDA approval for the Pulsar-18 T3 peripheral self-expanding stent system. It is specifically designed to offer a better implantation process for endovascular treatments. In October 2020, Medtronic Plc received FDA approval for an Abre venous self-expanding stent system that treats venous outflow obstruction. This device is indicated for use in the iliofemoral veins in patients with symptomatic iliofemoral venous outflow obstruction.

Market Segmentation

Our in-depth analysis of the global self-expanding stent market includes the following segments by product type, application, and end-user:

Based on product type, the market is sub-segmented into open-cell and closed-cell.

Based on application, the market is sub-segmented into peripheral artery disease, vascular stenosis, gastrointestinal tract, respiratory tract, and cardiovascular system.

Based on end-users, the market is sub-segmented into hospitals, specialized clinics, and ambulatory surgical centers.

Hospitals Held a Major Share in the Global Market

Based on the end-user, the global self-expanding stent market is sub-segmented into hospitals, specialized clinics, and ambulatory surgical centers. A large number of surgical and non-surgical procedures occur in hospitals due to the high availability of advanced medical equipment. The high demand for these stents in hospital settings due to the large patient population in these settings is a key contributor to the market growth. The increasing number of advanced hospitals globally that offer self-expanding stent procedures is a key contributor to the regional market growth.

Regional Outlook

The global self-expanding stent 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).

North America Holds Major Market Share

Among all the regions, North America holds a significant share owing to the growing regional focus on clinical research focused on finding new application areas for self-expanding stents. For instance, a research organization is working on finding the application of coronary stents in the intracranial circulation as rescue stenting for an already expensive mechanical thrombectomy procedure in a mid-low socioeconomic setting. The US held a major share of the North American market. The US is home to key manufacturers of self-expanding stents such as Abbott Laboratories, Pfizer, Johnson & Johnson, and Novartis among others.

The country noticed several commercial launches of self-expanding stents. The large presence of the geriatric population which is highly susceptible to targeted diseases that can be treated using these stents is further aiding the market growth. According to the American College of Gastroenterology, an estimated 10-15 percent of the adult population suffers from Irritable Bowel Syndrome (IBS) symptoms, yet only 5 to 7 percent of adults have been diagnosed with the disease. This creates huge demand for its treatment thereby contributing to the market growth.

Market Players Outlook

The major companies serving the global self-expanding stent market include Abbott Laboratories, Beckton, Dickinson & Co., Biotronik, Medtronic plc, Cook Medical, Inc., and Boston Scientific Corp. among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers, and acquisitions to stay competitive in the market. For instance, in February 2022, Micro-Tech Endoscopy introduced the first self-expanding tracheobronchial nitinol y-stent. The Y-shaped tracheal Stent System is designed to be a flexible, compliant device to aid in the treatment of malignant neoplasms at the tracheobronchial carina.

The Report Covers

Market value data analysis of 2023 and forecast to 2031.

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

Country-wise analysis of major geographical regions.

Key companies operating in the global self-expanding stent 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.