Global arterial stents market is expected to reach USD 8.62 Billion in 2017 to USD 16.58 Billion by 2025 at a CAGR of 8.61% from 2018 to 2025. Increasing geriatric population which is prone to cardiovascular conditions and require latest treatments available in cardiac care are playing a key role in the growth of the market.
Heart stents are used during coronary angioplasty procedure to remove blocked arteries. Different types of stents are available for different clinical conditions in the market. These are used for the treatment of cardiac abnormalities such as blocked blood vessels. Stents are commonly made of metals, polymers, and natural bio absorbable materials. Rise in elderly population worldwide is one of the major factors responsible for the growing prevalence of CVD. According to the WHO, the population of individuals aged 65 years and above was 617 million (8.5% of the total population) in early 2016, and expected to reach 1.6 billion (17% of global population) by 2050. Technological advancements in stenting technology, in terms of material, construction, and coatings increases the effectiveness of stents expanding their application areas. In addition to this, launching advanced products in the market helps companies gain a competitive advantage. For instance, in 2016, launched Absorb bioresorbable heart stent.
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- The base year for the study has been considered 2017, historic year 2015 and 2016 and, the forecast period considered is from 2018 to 2025. The arterial stents market is analysed on the basis of value (USD Billion).
- The study delivers a comprehensive analysis of global arterial stents market by components, type, mode of delivery, material, end user and regions.
- The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2018 to 2025.
- Porter’s Five Forces model is used in order to recognize the competitive scenario in the global arterial stents market. This report incorporates the industry analysis which is focused on providing an extensive view of the arterial stents market.
- The study also includes attractiveness analysis of components, type, mode of delivery, material, end user, and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market.
- The report provides company profile of the key players operating in the arterial stents market and a comparative analysis based on their business overviews, product offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
- The market estimates have been evaluated by considering the effect of different political, economic, social, technological and legal factors which are based on our extensive secondary research, primary research, and in-house databases.
- Increasing Incidences of coronary artery disease leading to the subsequent growth in the number of PCI procedures
- Rising demand for minimally invasive procedures
- Rise in elderly population
- Favourable reimbursement policies lead to higher adoption in the developed countries enabling further market penetration of these devices
- Stringent regulations regarding product approval
- Availability of other alternative procedures
- Adoption of technological advancements such as bioresorbable vascular scaffolds and biodegradable polymer
- Increase in demand from developing countries
- Completed procedure associated with the implantation of stents
- Decreasing price of stents
Regional Segmentation Analysis:
The regions analysed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. North America region dominated the global arterial stents market with USD 3.74 Billion in 2017 where as Asia Pacific region held the second dominant position in the market.
Key players in the arterial stents market 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, C. R. Bard, Inc., Meril Life Sciences Pvt. Ltd., Vascular Concepts, and Translumina GmbH, and others. Abbott Laboratories, Medtronic, plc, Boston Scientific Corporation are the top leading players of the market. 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 strengthened its coronary intervention product offerings in the cardiovascular devices market.
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