New York, NY, Sept. 24, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Vascular Stent Market by Product (Coronary Stents, Peripheral Stents and EVAR Stent Grafts), by Type (Bare Metal Stents, Drug-Eluting Stents, and Bioabsorbable Stents), by Mode of Delivery (Balloon-Expandable Stent and Self-Expanding Stent), by Material (Metallic Stents and Polymeric Stents), and by End-User (Hospitals, Cardiac Centers, and ASC’s): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024”. According to the report, global vascular stent market was valued at approximately USD 8.13 billion in 2017 and is expected to generate revenue of around USD 13.62 billion by the end of 2024, growing at a CAGR of around 7.65% between 2018 and 2024.
Stents are the type of medical devices that can be permanently placed into the artery and narrow blood vessels which helps to keep the artery & narrow blood vessel open and functional. Vascular stents are the type of stents which are commonly placed in the part of the peripheral artery. Stents are generally made up of metal mesh and fabric. Covered stents and bare stents are two different types of stents.
Browse through 156 Tables & 34 Figures spread over 110 Pages and in-depth TOC on “Global Vascular Stents Market Size 2017: By Product Type, Share, Growth, Segments, Analysis and Forecast 2024”.
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The vascular stent market is segmented on the basis of product, type, mode of delivery, material, and end-user. Based on the product, the vascular stent market is further segmented into EVAR stent grafts, coronary stents, and peripheral stents. Peripheral stents are further sub-segmented into renal artery stents, carotid stents, iliac stents, femoral stents, and others. The EVAR stent-graft segment includes abdominal aortic aneurysm and thoracic aortic aneurysm. The coronary stent market is expected to dominate the market in the forecast period due to the increase in the prevalence of coronary artery diseases and the rapid advancements in the technology of coronary stents.
On the basis of type, the market is further segmented into drug-eluting stents, bioabsorbable stents, and bare metal stents. The drug-eluting stents are projected to lead the vascular stent market in the forecast period. The advantages of drug-eluting stents such as the low risk of restenosis over the bioabsorbable stents and bare metal stents are expected to fuel the growth of drug-eluting stents segment.
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Based on the mode of delivery, the vascular stent market is sub-segmented into self-expanding stent and balloon expandable stent. Balloon-expandable stent segment is anticipated to dominate the vascular stent market in the near future. The increase in the number of research activities which focuses on advancing the balloon-expandable stent technology and an increase in regulatory approvals for use of balloon-expandable stents are some of the factors driving the growth of balloon-expandable stent segment.
The material segment includes metallic stents and polymeric stents. Metallic stents are further segmented into platinum chromium, cobalt chromium, stainless steel, and nickel titanium. Polymeric stents segment includes standard polymeric stents and biodegradable polymeric stents. The polymeric stents are anticipated to show the highest demand in the forecast period. The advantages of polymeric stents are they are easy to use and do not need monitoring as metal stents thus driving the polymeric stent segment.
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The end-user segment includes hospitals, cardiac centers, and ASCs. The hospital segment is expected to dominate the end-user segment due to the presence of a large patient pool in the hospitals.
North America is anticipated to lead the vascular stent market in the forecast period. It approximately holds 38% of the total global vascular stent market. The U.S. holds the largest share in the North America region which is followed by Canada. Increased addiction to drinking and smoking by the population has increased the rate of coronary & cardiovascular diseases. Increase in the occurrence of these diseases is driving the growth of the vascular stent market in the North America region. According to CDC, in 2015-16, over 93.3 million adults in the U.S. were obese. This increase in the number of obese people and lack of physical activities which lead to cardiovascular problems has driven the growth of vascular stent market in North America.
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North America is expected to be followed by Europe in the forecast period. In 2017, approximately 20% of the total European population aged above 65 years & more. This growth in the geriatric population leads to an increase in the rate of cardiovascular diseases, strokes, and coronary artery diseases. Due to this increase in the occurrence of heart-related problems among the geriatric population in Europe the vascular stent market is expected to expand in this region.
In the forecast period, Asia Pacific is expected to show the highest growth rate. According to the WHO (World Health Organization), 1 million people in the Western Pacific region die from cardiovascular disease every year, which is caused by tobacco usage. Also, more than 1 out of 5 people who die due to cardiovascular diseases, such as heart attack and stroke, are the result of smoking. Increase in consumption of tobacco and people adapting to smoking habit is mainly fueling the growth of the vascular stent market in Asia Pacific region. The increase in awareness about the availability of medical devices, rapid adoption of advanced technologies, large population base, and increase in investment by the major companies are fueling the growth of the vascular stent market in the Asia Pacific region.
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Latin America is expected to show rapid growth in the forecast period as compared to the Middle East & Africa. The increase in government initiatives to introduce advanced technologies, increased occurrences of heart-related diseases and increase in consumption of alcohol is expected to fuel the growth of vascular stent market in this region.
The key players in the global vascular stent market are Boston Scientific, Cardinal Health, Cook Medical, Medtronic, B. Braun Melsungen AG, Terumo Corporation, Abbott Laboratories, Goodman Co. Ltd., Biotronik SE & Co. KG, and Vascular Inc. The company focuses on the merger for expanding their businesses and introducing new technologies in other areas. For instance, in 2018, Boston Scientific Corporation announced that it has acquired VENITI, Inc., a company that has developed the VICI VENOUS STENT System which treats venous obstructive disease.
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This report segments the global vascular stent market as follows:
Global Vascular Stent Market: Product Segment Analysis
- Coronary Stents
- Peripheral Stents
- Carotid Stents
- Renal Artery Stents
- Femoral Stents
- Iliac Stents
- Other Peripheral Stents
- EVAR Stent Grafts
- Abdominal Aortic Aneurysm
- Thoracic Aortic Aneurysm
Global Vascular Stent Market: Type Segment Analysis
- Bare Metal Stents
- Drug-Eluting Stents
- Bioabsorbable Stents
Global Vascular Stent Market: Mode of Delivery Segment Analysis
- Balloon-expandable Stent
- Self-expanding stents
Global Vascular Stent Market: Material Segment Analysis
- Metallic Stents
- Cobalt Chromium
- Platinum Chromium
- Nickel Titanium
- Stainless Steel
- Polymeric Stents
- Standard Polymeric Stents
- Biodegradable Polymeric Stents
Global Vascular Stent Market: End-User Segment Analysis
- Hospitals
- Cardiac Centers
- Ambulatory Surgical Centers
Global Vascular Stent Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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