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(Medical-NewsWire.com, June 05, 2018 ) The Global Vascular Stent Market was worth USD 12.82 billion in 2016 and is projected to be growing at a CAGR of 8.1%, to touch USD 18.92 billion by 2021. Stents reduce the chance of a heart attack by helping in keeping the coronary arteries open. The stent is inserted into the clogged artery, which then expands, locking in place and hence resulting in the opening of the artery.
A stent is a tiny, elastic mesh tube made of medical-grade metals or polymers. Stents aid in the reduction of recurrent blockage or narrowing after an angioplasty procedure, which involves the use of a plaque with an inflating helping device and is used to stretch the artery open and increase blood flow to the heart. A stent once implanted, remains in the artery permanently. A blocked stent can be replaced or removed by the process of angiography.
The growth of the Global Vascular Stent Market is driven by factors such as increasing incidence of Cardio Vascular Diseases (CVD), which are a result of lack of physical activity and an unhealthy diet. Furthermore, increasing preference of cardiovascular surgeons to use vascular stents due to the substantially low invasiveness of the procedure and the growing geriatric population are set to boost market growth in the future. The development of bioreabsorbable vascular stents is major plus for market growth. However, strict regulation of product approval, the availability of alternative treatment techniques for CVDs and the high incidences of product failure and recalls are projected to be the major restraints of market growth.
The Global Vascular Stent Market is segmented on the basis of Product, Type, Mode of Delivery, Material, End User and Geography. Based on the Product, the Vascular Stent market is divided into Peripheral Stents, Coronary Stents, and EVAR Stent Grafts. Based on Type, the Vascular Stent Market is segmented into Bare-Metal Stents, Drug Eluting Stents, and Bio absorbable Stents. On the basis of Mode of Delivery, the market is categorised into Self-Expanding Stents and Balloon Expanding Stents. Further, based on Material, it is divided into Metal and Polymer. On the basis of End User, the market is distributed among Hospitals and Research Institutes.
The market has been geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa. As of 2016, North America leads the market, accounting for the major global market share, with the US accounting for the major share. North America’s lead is warranted by the presence of high incidence of CVD patients and increasing use of vascular stents by cardiovascular surgeons. Europe comes in second in terms of market share owing to the rising awareness about blood related disorders and the swift availability of treatment in terms of plasma fractionation. However, Asia-Pacific is expected to expand at the highest CAGR during the forecast period majorly because of the presence of huge population base, increasing adoption of advanced technologies and the low manufacturing costs of Vascular Stents in the emerging economies of the region.
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The Global Vascular Stent Market is highly fragmented in nature due to the prevalence of increasing number of local players, competing with significant players at the global level. The key companies in the global market include Medtronic, plc (Ireland), Abbott Laboratories (U.S.), Boston Scientific Corporation (U.S.), BIOTRONIK SE & Co. KG (Germany), B. Braun Melsungen AG (Germany), Terumo Corporation (Japan), STENTYS SA (France), MicroPort Scientific Corporation (China), Meril Life Sciences Pvt. Ltd. (India), Vascular Concepts (India), W. L. Gore and Associates (U.S.), C. R. Bard (U.S.), Endologix, Inc. (U.S.), Lombard Medical Technologies (U.K.), Translumina GmbH (Germany), and JOTEC GmbH (Germany).
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