Arterial Stents Market
Arterial Stents Market By Product (Coronary Stents, Peripheral Stents), By Application (Coronary Artery, Carotid Artery, Iliac Artery, Femoral & Popliteal Artery), By By Region - Global Market Insights 2020 to 2025
According to the latest analysis and report published by Fact.MR, the demand for arterial stents market is likely to grow at a steady pace between 2021 and 2031.
Sensing the opportunities, key players are relying on innovations, sustainability, and product development to gain a major share in the market.
For instance, in April 2021, BIOTRONIK announced the launch of its newest suite of tools for the more specialized implanting procedures in the His-bundle cardiac conduction system.
The company plans to present the tools to cardiologists of the European Heart Rhythm Association’s (EHRA) online congress.
The tools have been designed to allow for lead placement in both the atrium and ventricle to support conduction system pacing (CSP) procedures.
The Selectra 3D has added stability and holds its shape during the long CSP procedures.
Minimally Invasive Therapies to Accelerate Growth
According to the American Heart Association, coronary heart disease is a leading cause of death in North America annually. Naturally, the need to seek timely treatment has gained traction in recent years.
The increased burden of cardiovascular diseases has prompted patients to seek new trends in treatment.
To achieve long-term outcomes, patients increasingly prefer minimally invasive surgical procedures. Stents are beneficial in this case to prevent rest enosis after a heart surgery.
Considering this trend, the demand for arterial stents is poised to leverage at a CAGR of 9.8% during the forecast period (2020-2025).
The market is projected to expand almost twofold, reaching a value of US$ 17,887.9 Mn by 2025.
At the same time, stents production is anticipated to register a downturn, owing to increasing preference for treating COVID-19 patients.
Non-emergency cardiac procedures witnessed a decline, thus limiting the usage of arterial stents.
However, complications arising out of COVID-19 infections are prioritized, thus sustaining growth of arterial stents.
Coronary Artery Stents to Maintain Hegemony, Femoral & Popliteal Artery Gaining Traction
Coronary Artery Stents are anticipated to acquire wide usage during the forecast period, accounting for more than three-fifth of the arterial stents market.
A burgeoning number of patients with coronary artery diseases combined with affordability of coronary stents in developing nations are set to fuel growth.
The segment is projected to grow almost twofold, reaching a value of US$ 11,669.4 Mn by 2025-end.
The Femoral & Popliteal Artery segment shows robust growth opportunity in the future. This is attributed to growing adoption of Percutaneous Coronary Intervention (PCI) procedures to correct femoral artery anomalies.
A phenomenal CAGR of 10.2% is predicted for the Femoral & Popliteal Artery segment during the forecast period.
Europe to Remain in Lead, Asia-Pacific Registers Stellar Growth
Europe is anticipated to lay its suzerainty over the market in the forecast period.
The dominance of Europe is attributed to the strategic presence of key players in the interventional cardiology market.
Projections indicate a market share of more than one-third and a robust CAGR of 9.6%.
More than six out of ten patients opt for coronary artery stents, owing to the rising number of PCI procedures in hospitals.
Following Europe is Asia-Pacific, which promises to offer lucrative growth prospects for the arterial stents market.
Market penetration by key players in emerging countries and affordability of arterial stents are anticipate to leverage the market in the Asia-Pacific.
Over three-fifth of the arterial stents market is dominated by coronary stents.
Anticipated CAGR for the Asia-Pacific market is pegged at a whopping 10.3% during the forecast period.
Projected valuation of the overall market in Asia-Pacific region is US$ 3,445.1 Mn in 2025.
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Product Distribution to be Trump Card for Market Expansion
The global market is highly fragmented, with the presence of more than 50 players.
Out of these, three key players- Medtronic, Abbott Laboratories and Boston Scientific Corporation- account for three-tenth of the market share.
Boston Scientific Corporation is the leading player amongst the others. Its product categories include coronary intervention and peripheral intervention.
Its products include Drug-eluting stents such as Epic, Express & Innova, Self-expanding Stents such as Synergy, Eluvia and Flexive and Bare Metal Stents like Rebel & Promus.
A strong supply chain management and widespread distribution of products has provided Boston Scientific Corporation with a competitive advantage over other key players.
Abbott Laboratories, through its Abbott Vascular branch, offers a broad range of endovascular devices and cardiovascular stents.
The products it manufactures include Xience Alpine and Xience Xpedition, which are Drug-eluting and Bare Metal Stents respectively, Absolute Pro and Omnilink which are Self-Expanding Stents and RX Acculink which is a Balloon-expanding Stents.
COVID-19 Market Insights
The COVID-19 pandemic has affected several businesses to varying degrees.
With cases of infection increasing every day, companies are compelled to resort to preventive measures, the most prevalent being work from home.
As a consequence, production, assembly and supply-chains of several products have been impacted.
With regard to arterial stents, their market share is anticipated to register a decline throughout the course of the pandemic.
Market watchdog GlobalData concludes that the global atherectomy market, which includes arterial stents, is poised to witness a downturn as the number of non-emergency surgical procedures reduces.
A prominent analyst at GlobalData commented that enhanced government directives and hospital guidelines in severely affected regions have restricted vascular procedures to life or limb salvaging cases.
This leaves greater room for treating COVID-19 patients, as more hospital beds are available. This rescheduling of vascular procedures is anticipated to create a backlog of patients in the future.
To address this backlog, medical practitioners suggest lifestyle changes and oral medication to manage cardiac anomalies during this time period.
However, cardiac anomalies arising out of COVID-19 infections such as arrhythmia, hypotension, tachycardia and concomitant cardiovascular diseases shall be given top priority.
Key arterial stents manufacturers are also leaving no stone unturned to ensure the mitigation of the COVID-19 pandemic.
Boston Scientific Corporation, for instance, is taking significant steps to reduce costs and strengthen its customer support in the aftermath of the pandemic.
These include optimizing variable costs, including manufacturing and output, reduction in salaries of its chief executive officer and strategic reduction in discretionary spending.
In addition, the company contributes to global COVID-19 mitigation efforts through monetary and supply donations, as well as providing manufacturing expertise and resources.
An Adaptive Approach to Modern-day Research Needs
Key Questions Answered in Fact.MR’s Arterial Stents market Report
- What is the arterial stents market size?
- How has arterial stents market grown over the years?
- Who are the leading exporters for arterial stents?
- What is the market share of top arterial stents market players?
- What are the key trends impacting arterial stents market growth?
- What is the North America arterial stents market Outlook?
- How will sales of arterial stents market grow in Europe?
- How will demand for arterial stents market grow in Japan and South Korea?
Fact.MR has studied the detailed segmentation on the basis of product, application and region.
By Product :
- Coronary Stents:
- Bare Metal Stents
- Drug-eluting Stents
- Bioreabsorbable Stents
- Peripheral Stents:
- Self-expandable Stents
- Balloon-expanding Stents
- Coronary Stents:
By Application :
- Coronary Artery
- Carotid Artery
- Iliac Artery
- Femoral & Popliteal Artery
By Region :
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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