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I AgreeAnalysis of Arterial Stents Market covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global arterial stents market was valued at US$ 14,135 Million in 2021 and in 2022 be valued at US$ 15,650 Million. During the 2022-2032 period of assessment, demand is expected to rise at a 10.5% value CAGR, likely to reach US$ 42,475.3 Million by the end of the said forecast period.
Attributes |
Details |
---|---|
Anticipated Base Year Value (2021) |
US$ 14,135 Million |
Expected Market Value (2022) |
US$ 15,650 Million |
Projected Forecast Value (2032) |
US$ 42,475.3 Million |
Global Growth Rate (2022-2032) |
10.5% |
Market share of US (2022-2032) |
9.8% |
Prominent Players in the Global Market |
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A sedentary lifestyle resulting in obesity and other cardiovascular diseases such as heart attack, stroke, Ischemic Heart Diseases (IHD), etc., are primarily driving the arterial stents market. 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.
As per market research and competitive intelligence provider Fact.MR, the market for arterial stents witnessed a 9.6 %CAGR from 2017 to 2021. 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 2022 and 2032. Sensing the opportunities, key players are relying on innovations, sustainability, and product development to gain a major share in the market.
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Preference Minimally Invasive Therapies to Accelerate Arterial Stents Adoption
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.
Angioplasty is the first line of treatment for patients suffering from acute coronary artery blockages. Number of patients undergoing stenting has been increasing steadily over the last decade. This is due to emergence of outpatient arterial stenting procedures, which reduces long hospital stays. Considering this trend, the demand for arterial stents is poised to leverage at a CAGR of 9.6% during the forecast period (2022-2032). The market is projected to expand almost twofold, reaching a value of US$ 42,475.3 Million by 2032
Rising Incidence of Cardiovascular Disorders to encourage Arterial Stents Adoption
With rapid technological advancement and wide acceptance of stenting procedures among patients with PAD, the global arterial stents market is expected to witness significant growth in the forecast period. Also, the growing demand for advanced diagnostic and imaging techniques for various disease conditions is estimated to offer lucrative growth opportunities for the arterial stent market.
The increasing prevalence of cancer disease, changing lifestyles, rapidly growing population, and new product innovation are some of the factors projected to drive the growth of the global arterial stents market. The cases of chronic cardiovascular diseases are rising globally primarily due to the increasing world’s senior population, as older people are more prone to experience heart-related disorders.
Another significant problem for healthcare is hypertension. Older persons have higher amounts of total serum cholesterol, which makes them more vulnerable to several cardiovascular diseases. Thus, the above-mentioned factors are fuelling the sales of arterial stents. Rising adoption and technological advancement in arterial stents are some other factors expected to fuel the growth of the arterial stents market.
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Strict Regulations for Product Approval may Impede Market Growth
Strict rules and policies for medical device approvals by respective authorities are expected to slow the production of stents. To prevent any anomaly from arising during the trials, leading medical device manufacturers rigorously scrutinize and test each product in the lab.
This reduces the effective shelf life of important surgical tools, thus restricting the long-term growth potential of arterial stents. However, despite the efforts of governments as well as arterial stent manufacturers, product recalls by various key players and stringent regulations are major factors expected to restrict the demand growth of the market over the decade.
Attributes |
Arterial Stent Market |
---|---|
Growth Factor |
The rising preference for minimally invasive surgeries (MIS) is expected to boost the adoption of arterial stents over the forecast period. |
Opportunity |
The increasing global geriatric population and technological advancement in stent technology and materials are expected to provide opportunities for the growth of the arterial stents market |
Attributes |
Coronary Stents Market |
---|---|
Growth Factor |
An aging population and a rising prevalence of risk factors such as cardiovascular diseases (CVDs), complex lesions, diabetes, obesity, and others are expected to drive demand for coronary stents over the forecast period. |
Opportunity |
An increasing number of cardiologists referring to stenting procedures for patients suffering from CAD is a major factor expected to fuel revenue growth of the coronary stents market in the near future |
Attributes |
Peripheral Vascular Stents Market |
---|---|
Growth Factor |
Growing access to vascular stents in peripheral angioplasty and traditional open surgery in these under-penetrated markets are expected to accelerate demand for peripheral vascular devices. |
Opportunity |
The increasing end users and growing number of ambulatory surgical centers are other major factors expected to drive growth of the global peripheral vascular stents market. |
Production of Advanced Arterial Stents by Top Companies widening Growth Opportunities in the Region
According to Fact.MR, demand for arterial stents in the U.S is likely to expand at a 10.2% value CAGR until 2032. Demand is further expected to be valued at US$ 39,450.2 Million by the end of the said forecast period. Growth is attributed to technological advancements and the availability of specialty healthcare infrastructure in the region
The United States currently dominates the North American arterial stents market. The existence of major firms and their use of cutting-edge medical technologies to manufacture stents are primarily responsible for the larger share.
In addition, a well-developed healthcare infrastructure and significant financial investments by the government in the healthcare sector are some of the major drivers boosting sales growth. Furthermore, supportive government policies and a rise in research collaboration agreements are among the factors likely to boost demand for arterial stents.
Increasing Prevalence of Heart-related Disorders in Europe to drive the Arterial Stents Market
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 9.8%.
More than six out of ten patients opt for coronary artery stents, owing to the rising number of PCI procedures in hospitals. The increasing geriatric population coupled with increasing cases of cardiovascular disorders in European countries such as the U.K., Germany, and Italy is expected to increase sales of arterial stents.
According to British Heart Foundation, currently, more than 7 million people in the U.K. are living with cardiovascular diseases (CVDs) . Thus, rising incidences of cardiovascular disorders in European nations are expected to fuel demand for arterial stents.
Rapidly Developing Healthcare Infrastructure & Innovations in Medical Devices
Asia-Pacific, to offer lucrative growth prospects for the arterial stents market. Market penetration by key players in emerging countries and affordability of arterial stents are anticipated to leverage the market in the Asia-Pacific. Over three-fifths of the arterial stents market is dominated by coronary stents.
The anticipated CAGR for the Asia-Pacific market is pegged at a whopping 10.1% during the forecast period. The projected valuation of the overall market in the Asia-Pacific region is US$ 35,450 Million in 2032.
Asia Pacific is also expected to grow at the higher rate in arterial stents market due to rapid population growth, developing healthcare infrastructure, increasing per capita expenditure, and increasing research and development.
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$ 17,669.4 Million by 2032
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.
Some key start-ups in the arterial stents market include SLTL Group, Meril, Lepu Medical, Nano Therapeutics Pvt Ltd., and Eurocor among others.
The global arterial stents market is highly competitive owing to the top global players trying to gain market share through various strategies such as mergers & acquisitions, expansions, collaborations, and partnerships. Key players in the global arterial stents market are engaged in regulatory approvals and the launch of new products.
The other leading manufacturers of arterial stents are also focusing on the acquisition of regional players to retain their market position. Major arterial stent companies are concentrated on launching upgraded stents and innovation in technologies to accelerate sales growth.
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As of 2021, Fact.MR estimated the arterial stents market to have reached US$ 14,135 Million
By 2022, Fact.MR expected demand for arterial stents to reach US$ 15,650 Million
The demand for arterial stents tends to grow at a CAGR of 10.5% during the forecast period.
Coronary Artery Stents are anticipated to capture major share, accounting for more than three-fifth of the arterial stents market.
Global value of the arterial stents market is projected to reach US$ 42475.3 Million by 2032.
North America is anticipated to dominate the global arterial stents market.