Global Stents Market

Stents Market Size, Share, Growth Analysis, By Product Type(Coronary Stents, Peripheral Stents, Stent Related Implant), By Material(Metallic Biomaterial, Polymer Biomaterial, Natural Biomaterial), By End User(Hospital, Ambulatory Surgical Centers, Others), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35A2607 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 90 | Figures: 76

Stents Market Regional Insights

In 2021, North America is expected to have the biggest share of the market. The regional market growth is due to the region's increasing prevalence of cardiovascular illnesses. According to several research studies, the population in North America has a higher risk of developing heart disease due to the increasing adoption of sedentary lifestyles, growing binge eating habits, and a higher rate of cigarette consumption, which ultimately leads to a weak immune system and an increase in stress levels. These factors all play a significant role in the natural course of heart illness throughout time. The rising frequency of heart disease has aided the region's status as a prospective market for investors. Furthermore, the region is benefiting from the construction of specialty clinics, as well as increased investments in the innovation of coronary stents. Furthermore, the presence of key players in the United States is a crucial growth enhancing element.

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FAQs

Stents Market size was valued at USD 8.8 billion in 2019 and is poised to grow from USD 9.3 billion in 2023 to USD 12.1 billion by 2031, growing at a CAGR of 3.3% in the forecast period (2024-2031).

The stents market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions. 'Abbott Laboratories', 'B. Braun Melsungen AG', 'Boston Scientific Corporation', 'Cook Medical LLC', 'C. R. Bard, Inc.', 'Medtronic plc', 'MicroPort Scientific Corporation', 'Terumo Corporation', 'W.L. Gore & Associates, Inc.', 'Biotronik SE & Co. KG', 'Stentys SA', 'Meril Life Sciences India Pvt. Ltd.', 'Biosensors International Group, Ltd.', 'Endologix, Inc.', 'Lombard Medical Technologies plc', 'InspireMD, Inc.', 'Cordis Corporation', 'Comed B.V.', 'Elixir Medical Corporation', 'MIV Therapeutics Inc.'

The growing prevalence of cardiovascular diseases will drive market figures. The growing prevalence of cardiovascular illnesses worldwide is expected to boost stent market growth in the future years. The growing number of chronic illness patients is predicted to stimulate demand for percutaneous coronary intervention and peripheral vascular operations. According to the World Health Organization (WHO), an estimated 17.9 million fatalities attributable to cardiovascular diseases (CVDs) are reported each year, accounting for roughly 32% of all fatalities. As the number of people suffering from cardiovascular diseases rises, so will the demand for percutaneous coronary intervention and peripheral vascular operations, fueling the demand for stents.

The expansion of the stents market is aided by the continuous product innovations and enhancements. The majority of the attention on stent upgrades has been on minute adjustments such as reducing stent strut thickness, making stents more deliverable in tortuous veins, and launching longer lengths or smaller diameters of these stents. For example, in 2018, one of the most recent stent breakthroughs was the release of the Xience Sierra, which received FDA approval in the United States. Increased flexibility, a smaller profile, small diameters, and longer lengths are among the enhancements to address important percutaneous coronary procedures (PCI). As a result, such changes to improve the patient experience and minimize procedural difficulties will boost market growth.

In 2021, North America is expected to have the biggest share of the market. The regional market growth is due to the region's increasing prevalence of cardiovascular illnesses. According to several research studies, the population in North America has a higher risk of developing heart disease due to the increasing adoption of sedentary lifestyles, growing binge eating habits, and a higher rate of cigarette consumption, which ultimately leads to a weak immune system and an increase in stress levels. These factors all play a significant role in the natural course of heart illness throughout time. The rising frequency of heart disease has aided the region's status as a prospective market for investors. Furthermore, the region is benefiting from the construction of specialty clinics, as well as increased investments in the innovation of coronary stents. Furthermore, the presence of key players in the United States is a crucial growth enhancing element.

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Global Stents Market

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