Venous Stents Market to Reach USD 2.31 billion by 2032 | Amid Rising Demand From Hospitals and Cardiac Centers - Market.us

New York, Sept. 28, 2023 (GLOBE NEWSWIRE) -- According Markte.us, The Venous Stents market is estimated to be worth USD 1.02 Billion in 2022 and may attain USD 2.31 Billion by 2032. During the projected period, the Venous Stents industry is anticipated to witness a CAGR of 8.5%.

Venous stenting is a medical procedure used to address obstructions in veins, offering a less risky and minimally invasive alternative to surgery. During this procedure, a metal mesh tube is inserted into the blocked vein using a catheter, carefully guided to the desired location within the brain, and then expanded. This stent serves to widen the vein, ensuring unimpeded blood flow and providing essential structural support to a weakened vein. This technique is most frequently employed to treat conditions like Venous Thromboembolism (also known as Deep Vein Thrombosis or Pulmonary Embolism), Venous Occlusion, and May-Thurner Syndrome.

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Key Takeaway

• Venous stenting stands as an endovascular intervention aimed at assisting individuals afflicted by venous blockage. This medical undertaking involves the utilization of a venous stent, a metal mesh cylinder designed to widen the narrowed blood vessel, thus reinstating the natural circulation of blood through the affected vein.
• The market for venous stents was estimated at US$1.02 Billion, in 2022, at a CAGR of 8.5% from 2023 to 2032.
• The venous stents market is dominated by drug eluting stents that claim over a 45% market share.
• Based on application, the legs segment was accounted for a maximum share of 36.3% in 2022.
• Based on disease segment, the deep vein thrombosis segment generated over 47.1% of revenue.
• The wallstent technologies segment is estimated to hold maximum CAGR of 8.7%.
• The hospitals and cardiac centers were accounted for the majority of share.
• North America held the maximum share of 36% across the world.
• The Asia Pacific venous stents market will display the highest CAGR during the forecast period.
• The prominent players in the venous stents market include Gore Medical, Cook Medical, Boston Scientific Corporation, Becton, Dickinson and Company, Medtronic Plc, Vesper Medical, Optimized Medinische Instrumente GmbH, Plus medica GmbH & Co., Abbott Laboratories and others.

Factors Affecting The Growth Of The Global Venous Stents Industry

Various factors influence the growth of venous stents market are;

• Regulatory Approvals: The regulatory environment, including FDA approvals in the United States and CE marking in Europe, significantly influences market growth. The time and resources required to obtain regulatory clearance impact product availability and market entry.
• Reimbursement Policies: Favorable reimbursement policies can encourage healthcare providers to offer venous stenting procedures. Reimbursement levels and coverage for venous stent interventions affect both patient access and market growth.
• Competitive Landscape: The presence of established manufacturers and new entrants in the market drives competition. It can lead to product innovation, cost-effective solutions, and competitive pricing, all of which influence market dynamics.

Market Growth

Multiple factors, including medical necessity, innovation, regulatory compliance, and healthcare infrastructure, play pivotal roles in driving the growth of the venous stents market. The dynamic interplay of these elements collectively influences the market's supply and demand dynamics. Moreover, the rising incidence of venous diseases and deep vein thrombosis (DVT) creates a substantial demand for venous stents as a crucial treatment option.

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Regional Analysis

North America continues to lead the way as the largest regional segment in the venous stents market, commanding a substantial market share of 36%. This prominence can be attributed to significant healthcare investments, government initiatives, and a growing number of research partnerships in the region. Additionally, the local presence of major key players contributes to North America's ability to maintain its market share. Furthermore, the well-established medical infrastructure in the region plays a pivotal role in generating revenue. Moreover, it is anticipated that the Asia Pacific region will witness the highest CAGR in the upcoming forecast period. 

Scope of the Report

Market Drivers

As per the Centres for Medicare and Medicaid Services, national health expenditure has augmented by 2.3%, and this results in the substantial growth of US$4 trillion in 2021, accounting for an 18.35% share of the GDP. Moreover, expenditure on private health insurance & out-of-pocket expenses both increased by 5.8% & 10.4%. Therefore, this specifies that there is little resistance to spending on healthcare. Additionally, the rising incidence of chronic vein diseases opens up opportunities for expansion of market size.

Market Restraints

In order for a venous stent to become accessible in the market, it must conform to the regulatory standards commanded by the authorities. Furthermore, the clearance procedure for a medical device needs a substantial load as each product undergoes thorough examination. Although the inspection is vital to guarantee the well-being of patients, it contributes to the complexity of the process. Furthermore, these stringent testing procedures may lead to a reduction in the durability of the products, thereby decelerating the production process and possibly hampering market expansion.

Market Opportunities

Investment in research and development within the venous stent market has seen a notable increase, particularly in the pursuit of creating more flexible stent designs. Taking an interdisciplinary approach to addressing the needs of the venous stenting market holds the potential for fostering innovative manufacturing techniques, which in turn can contribute to market growth.

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Report Segmentation of the Acute Ischemic Stroke Therapeutics Market

Type Insight

Drug-eluting stents have long dominated the venous stents market, holding a significant 45% share. They maintained a monopoly in this sector since the inception of venous stenting in the mid-1980s. However, the emergence of drug-eluting stents disrupted this trend. In contrast, bare metal stents are crafted from materials like steel or metal alloy, with nitinol, an alloy of nickel and titanium, being a common choice. These bare metal stents are directly implanted into the veins.

Application Insight

The segment related to leg applications held the most significant share, accounting for 36.3%. This dominance can be attributed to the fact that a majority of venous diseases originate from blockages in the leg veins. Therefore, these complications necessitate the use of venous stenting for management. On the other hand, the market segment associated with chest applications is experiencing rapid growth. This surge is driven by the increasing prevalence of chronic heart and lung diseases.

Disease Insight

The DVT (deep vein thrombosis) segment significantly dominated the total revenue, accounting for an impressive 47.1% share owing to the high prevalence of the disease. In a year, 1 in 1000 adults was diagnosed with this disease. The risk escalates when a patient develops Pulmonary Embolism in conjunction with DVT, leading to Venous Thromboembolism. It is a condition that necessitates immediate venous stenting.

The post-thrombotic segment is also experiencing rapid growth, further boosting market growth. There is also notable input from the thurner syndrome segment as well.

Technology Insight

Among the technology segments, the Wallstent technologies are projected to achieve the most impressive CAGR at 8.7%. This technology is specifically designed to address constricted veins in the upper pelvic area, particularly encompassing the iliofemoral vein. The Wallstent system comprises a catheter device for delivering the stent over-the-wire, and the stent itself is crafted from braided metallic materials.

End-User Insight

Hospitals and cardiac centers held the largest share, primarily due to the significant number of patients undergoing angioplasty procedures within these facilities. As a result, the demand for venous stents was at its peak within hospitals and cardiac centers.

Market Segmentation

By Type

• Bare metal stents
• Drugs eluting stents
• Bioabsorbable stents

By Application

• Legs
• Chest
• Abdomen
• Other Applications

By Disease

• Deep Vein Thrombosis
• Post Thrombotic Syndrome
• May Thurner Syndrome
• Hemodialysis/Arteriovenous Fistulae
• Others

By Technology

• Iliac Vein Stent Technologies
• Wallstent Technologies

By End-User

• Hospitals & Cardiac Centers
• Ambulatory Surgical Centers

By Geography

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Russia
  • Netherland
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • New Zealand
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA

Market.us has identified key trends, drivers, and challenges in the market, which will help clients improve their strategies to stay ahead of their competitors. - View a PDF sample report @ https://market.us/report/cell-based-assays-market/request-sample/

Competitive Landscape

The venous stents market is extremely profitable one. Thus, this has led to intense competition among the prominent players in the industry, with the businesses competing for a monopoly in the market.

• Boehringer Ingelheim GmbH
• Hoffmann-La Roche
• Bristol-Myers Squibb
• Pfizer
• AstraZeneca
• Johnson & Johnson
• Sanofi
• Daiichi Sankyo
• Athersys
• Other Key Players

Recent Developments in the Acute Ischemic Stroke Therapeutics Market

• In June 2023, Gore Medical initiated a clinical trial. The trial aims to compare the efficiency of VBX Stent Graft with that of bare metal stents. The study was named as The Gore VBX Forward, which will be carried out on 40 sites and its results will be revealed in 2027.
• In June 2023, Becton, Dickinson and Company, medical technology business signed an agreement to sell its Surgical Instrumentation platform for US$540 million and this platform will be purchased by STERIS, a medical equipment business based out of Ireland.
• In July 2023, RevCore, the world’s first minimally invasive catheter was employed to perform deep venous stent thrombectomies for chronic stent occlusion. All procedures done with the help of RevCore have been successful so far.

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