According to Fior Markets recent research report, the global arterial stents market is expected to rise from USD 8.62 Billion in 2017 to USD 16.58 Billion by 2025 with a CAGR of 8.61% during the forecast period from 2018-2025. North America market is expected to achieve significant growth in the assessment period due to the factors such as to the presence of a large number of companies, favorable reimbursement facilities and development of innovative bio-engineered absorbable products.
Global Arterial Stents Market by Type (Bare-Metal Stents, Drug-Eluting Stents, Bioabsorbable Stents), Mode of Delivery (Balloon-Expandable Stents and Self-Expanding Stents), Material, End User (Hospitals, Cardiac Centers), Region” and Global Forecast 2018-2025.
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Leading companies are Abbott Laboratories, Medtronic, plc, Boston Scientific Corporation, B. Braun Melsungen AG, Biosensors International Group, Ltd., BIOTRONIK SE & Co. KG, Terumo Corporation, STENTYS SA, MicroPort Scientific Corporation (China), C. R. Bard, Inc., Meril Life Sciences Pvt. Ltd., Vascular Concepts, and Translumina GmbH, among others. These manufacturers are conducting key strategic initiatives such as new product launches, collaboration, mergers & acquisitions, and regional expansion. For instance, in 2016, Abbott acquired St. Jude Medical, Inc., which is a manufacturer of products for heart failure, atrial fibrillation, and cardiac rhythm management. The acquisition has expanded its coronary intervention product offerings in the cardiovascular devices market.
The type segment is split into BMS, BVS and drug eluting. The BVS segment is ruling the arterial stents market with a market share of 39.41% in 2017. According to estimates, new product approvals may increase the demand for BVS products. These products are focused on the young patient population. The material segment is classified into metal, polymer, and copolymer. Considering cost-effectiveness and minimal invasiveness during the procedure, the polymer segment is projected to register CAGR of 10.37% in the forecast period. The end user segment bifurcated into hospital, cardiology center, and ASC. The hospital registered the largest share in 2017. Growth contributing factors include increasing awareness of peripheral artery diseases, the introduction of innovative stents and increasing healthcare expenditure.
Leading factors in this industry are growing geriatric population and adoption of new techniques and minimally invasive procedures. To increase the life span of the elderly population, advanced treatments are available in cardiac care. However, stringent regulations regarding the approval of new products are predicted to hamper the growth of the market. Key factors expected to enhance the growth of the market in the future include favorable reimbursement policies and technological advancements providing additional capabilities. For instance, Japan’s National Health Insurance system provides reimbursement for all medical devices.
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