Stents Market Value to Hit $14 Billion by 2025: Global Market Insights, Inc.

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Nov 26, 2019, 03:00 ET

SELBYVILLE, Del., Nov. 26, 2019 /PRNewswire/ -- Global Stents market revenue is set to surpass USD $14 billion by 2025, according to a new research report by Global Market Insights, Inc. The surge in the number of peripheral and coronary artery surgical procedures, along with the growing demand for minimally invasive techniques, will propel the global industry's growth.

Stents Market revenue is projected to register more than a 5.3% CAGR up to 2025, driven by an increasing prevalence of coronary and peripheral artery disease.

Demand for stents will be majorly affected by the growing prevalence of cardiovascular diseases due to the adoption of sedentary and unhealthy lifestyles. A rising elderly population base that requires peripheral coronary intervention (PCI) procedures for the treatment of blockages will further boost the industry's growth. For instance, as per the CDC's estimates, about 8.5 million people in the U.S. are diagnosed with peripheral artery disease (PAD) and the number is further estimated to grow over the coming years. The increasing number of people suffering from PAD will upsurge the demand for stents during the forecast timeframe.

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Technological advancements will also play a significant role in the global stents industry's expansion in the future. Major market players are investing rigorously in R&D activities to develop advanced stents. For instance, Elixir developed the Desolve 100 Novolimus-eluting system, a fully bioresorbable scaffold system intended for the treatment of artery diseases. The stent is capable of meeting specific patient needs with minimal post-surgery complications. The availability of such reliable stents with a minimal re-obstruction rate will, thus, propel business growth.

Some major findings of the stents market report include:

Increasing number of cardiovascular surgeries will positively drive the stent market's growth
Technological advancements to play a crucial role in stents industry
Coronary vascular stents to dominate the overall stents business
Attributes such as biocompatibility and biodegradability to serve as a major impact rendering factor in the business growth
Superior long-term patency rates and improved durability will drive the self-expandable balloons market
Major players operating in the stents market include Abbott Laboratories, B. Braun, Boston Scientific, Terumo, and Elixir Medical Corporation
Competitors focus on geographic expansion and development of patient-specific stent designs to strengthen their market position

Based on products, the stents market is bifurcated into vascular and non-vascular stents. Vascular stents are further bifurcated in coronary, peripheral and neurovascular stents. Vascular stents accounted for a revenue of USD $9.0 billion in 2018. The high growth of vascular stents is attributed to the increasing number of patients suffering from cardiovascular disorders (CVD), along with various technological advancements in the field. As per the European Heart Network, CVD affected more than 85 million people across the region. Thus, the rising adoption of CVD treatments will prove beneficial for the industry's expansion.

Browse key industry insights spread across 300 pages with 708 market data tables and 10 figures and charts from the report, "Stents Market Size By Product (Vascular Stents [Coronary Stents {Bare Metal Stents, Drug Eluting Stents, Bioresorbable Stents}, Peripheral Stents {Iliac Stents, Femoral-popliteal Stents, Renal Stents, Carotid Stents}, Neurovascular Stents], Non-vascular Stents), By Material (Metal, Polymer), By Type (Self-expendable Stents, Balloon-expendable Stents), By End-use (Hospitals, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Japan, China, India, Australia, Singapore, Brazil, Mexico, South Africa, Saudi Arabia), Price Trends, Application Potential, Competitive Market Share & Forecast, 2019 – 2025," in detail, along with the table of contents:

https://www.gminsights.com/industry-analysis/stent-market

The stents industry is categorized into materials such as metal and polymer. The polymer segment will witness a significant CAGR of around 6.5% during the analysis period. The use of various biodegradable and biostable polymers, such as polyethylene, polylactides, polyurethanes and polyglycolides, will contribute to segmental growth. Benefits associated with polymer stents, including high compatibility and reduced post-surgery complications, will drive the market's progress.

Self-expandable and balloon-expandable stents are two types of stents manufactured by the industry players. The self-expandable stents market will exceed USD $5.0 billion by 2025. Self-expandable stents continue to grow up to the desired diameter after placement. These stents are majorly used in patients with femoropopliteal disease. Improved durability and superior long-term patency rates are some of the advantages of self-expandable balloons that will be conducive to segmental growth across the forecast period.

The end-use segment is classified into hospitals and ambulatory surgical centers. The hospital segment accounted for a revenue share of about 75% in 2018 and is estimated to show steady growth during the upcoming years. Implementation of stringent guidelines in hospital settings ensures and enhances patient safety. Thus, increasing patient preference towards hospital settings, owing to the availability of advanced equipment and better facilities, ensures superior surgical outcomes and will spur the segment's size over the projected years.

Japan's stents market is poised to show a robust CAGR of 6.2% during the projection period. High growth is attributed to a rising prevalence of CVDs in the country. The increasing number of cardiovascular surgeries will, thus, foster business growth. For instance, the number of cardiovascular surgeries is estimated to exceed 61,000 per year by 2020. Also, the focus of market players on novel product development will act as another prime factor propelling business growth over the forecast period.

Few notable players operating in the stents market include Abbott Laboratories, B. Braun Melsungen AG, MicroPort Scientific Corporation, Medtronic, Boston Scientific, Terumo, Biosensors International Group, Biotronik, Elixir Medical Corporation and Meril Life Sciences. Industry players are adopting numerous strategies to strengthen their market position. For instance, in September 2018, Boston Scientific announced the launch of the Eluvia drug-eluting stent system, intended for peripheral artery disease. The new product launch enabled the company to expand its peripheral vascular devices portfolio and strengthen its market position.

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Browse Related Reports:

Biliary Stent Market Statistics 2025: The metal biliary stents industry will foresee significant growth over the coming period due to the increasing use of metal stents for the treatment of biliary tract diseases. Metal stents provide longer stent patency, as compared to plastic stents. Metal stents are available depending on their expansion capacity, which should further lead to greater customer adoption due to better benefits.

https://www.gminsights.com/industry-analysis/biliary-stents-market

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Stents Industry Forecasts 2025
Stents Market revenue is projected to register more than a 5.3% CAGR up to 2025, driven by an increasing prevalence of coronary and peripheral artery disease.

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SOURCE Global Market Insights, Inc.