Market Players Focus on Addressing Challenges Put Forward by Current Stent Modalities
Due to consistent advancements in the cardiovascular medicine field, stenting of the arteries has emerged as one of the most common and popular cardiovascular treatment. As stenting continues to gain popularity across the world, the demand for vascular stents continues to gain considerable traction. The alarming rise in the number of patients suffering from cardiovascular diseases has compelled the medical sector to focus on new treatments and medical concepts to improve the recovery rate of existing treatments. At present, existing technologies, particularly related to drug-eluting stents have witnessed rapid developments.
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In addition, due to added research, these technologies continue to demonstrate high levels of efficacy and low rate of treatment failure due to which, applications of vascular stents continue to expand at a promising rate– a leading factor that is expected to drive the vascular stents market during the forecast period. Over the past few decades, participants operating in the vascular stents market are increasingly focusing on minimizing various complications involved with vascular stent implantations such as local chronic inflammation, in-stent restenosis, re-occlusion rates, and late thrombosis.
Considerable emphasis is being laid on various parameters of vascular stent development to facilitate long-term stability and assess various failure mechanisms. Currently, vascular stent technologies primarily focus on addressing the restenosis rate of high-risk patients in both, bare-metal stents as well as drug-eluting stents. At the back of these factors, along with growing demand for minimally invasive therapies, the global vascular stents market is expected to reach ~US$ 12 Bn by the end of 2027.
Drawbacks of First-generation Vascular Stents Result in Development of Advanced Products
The first-generation of vascular stents that were predominantly fabricated from cobalt-chromium, platinum-iridium, and stainless steel put forward an array of problems that led to tissue hyperplasia. Shortcomings and several other minor drawbacks of the first-generation of vascular stents accelerated the production of drug-eluting stents, biodegradable stents, and coated stents. Several vascular stent manufacturers are increasingly prioritizing the optimization of the physical-chemical, biological, and mechanical stent properties to attain the desired characteristics of various stents.
Some of the major developments and fabrication technologies in the vascular stents market are likely to focus on various properties, including expandability ration, compatibility with a balloon catheter, magnetic resonance imaging, flexibility, and thromboresistivity. The high mortality rate associated with cardiovascular diseases around the world coupled with innovative stent technology concepts has prompted clinicians and researchers to focus on the development of new techniques, materials, and solutions to enhance the clinical outcome of the currently deployed vascular stents.
Bioresorbable and Integrated Biosensor Technology to Redefine Future of Vascular Stents
As cardiovascular diseases continue to be among the leading causes of death around the world, consistent efforts are being made to address this looming medical problem. The existing anti-atherosclerotic and pharmacological modalities still fall short in controlling the disease due to which, enhancements in clinical interventions is the need of the hour. As a result of research, experts in the healthcare sector are of the opinion that bio-sensing devices offer immense promise in addressing in-stent restenosis. Moreover, due to the progress in nanofabrication, researchers continue to explore the various ways in which biosensors can be integrated into vascular stents to address the shortcomings of the existing stent modalities.
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Demand to Fluctuate amid COVID-19 Pandemic, Product Diversification May Provide Short-term Gains
As the ongoing COVID-19 pandemic continues to derail the global economic growth, the medical sector continues to witness considerable movement. While the demand for personal protective equipment and other medical medicines and devices required for the treatment of the novel COVID-19 coronavirus is expected to skyrocket, the demand for vascular stents is likely to fluctuate due to lack of information regarding the potential impact of the virus on heart patients.
Several studies have suggested that individuals suffering from cardiovascular diseases are at a higher risk of contracting COVID-19 infection. While government regulations and guidelines continue to prioritize trade of COVID-19 medication and devices, the demand for vascular stents is likely to remain steady. Although it is hard to predict the demand pattern due to several external factors, the vascular stents market is expected to witness a lower growth rate compared with that of 2019.
The global vascular stents market is expected to grow at a moderate CAGR of ~5% during the forecast period. The considerable rise in the number of patients suffering from cardiovascular diseases, research & development activities, focus on improving the efficacy of existing stent technologies, and focus on the production of cutting-edge stents integrated with biosensors are some of the leading factors that will provide a boost to the growth of the vascular stents market during the forecast period. Market players should focus on research and development of new vascular stents that offer improved performance in comparison with first-generation stents fabricated from stainless steel and other metals. Biodegradable stents are likely to gain popularity in the upcoming years and could potentially replace vascular stents fabricated from metals.
Vascular Stents Market: Overview
This report analyzes the current and future prospects of the global vascular stents market. Rise in prevalence of cardiovascular diseases and increase in demand for minimally invasive surgeries are the key factors fueling the growth of the global vascular stents market during the forecast period.
The report provides an elaborate executive summary, which comprises a snapshot of various segments of the global vascular stents market. The report also provides information and data analysis of the global vascular stents market with regard to segments based on type, delivery method, material, end user, and region.
The overview section of the report provides detailed qualitative analysis of drivers and restraints impacting the global vascular stents market along with opportunities in the global market
Additionally, the global vascular stents market report includes company profiles and competitive matrix, which provide data about their businesses, product portfolios, and competitive landscape in the global vascular stents market
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The report includes data analysis on the vascular stents market attractiveness by region and segments
The last section of the report provides quantitative and qualitative analysis on market share of key players operating in the global vascular stents market. It elaborates the key competitive strategies adopted by major industry players, thereby presenting a thorough understanding of the competitive scenario in the global vascular stents market.
Vascular Stents Market: Key Segments
In terms of type, the global vascular stents market has been segmented into coronary artery stents, peripheral vascular stents, and neurovascular stents. The coronary artery stents segment has been sub-segmented into bare metal stents, bioresorbable stents, covered stents, and drug eluting stents. The peripheral vascular stents segment has been split into fem-pop artery stents, iliac artery stents, and infrapop artery stents. The coronary artery stents segment held a major share of the global vascular stents market in 2018.
In terms of delivery method, the global vascular stents market has been classified into balloon expandable stents and self-expanding stents. The self-expanding stents segment is likely to dominate the global vascular stents market during the forecast period.
Based on material, the global vascular stents has been divided into cobalt-chromium stent, platinum-chromium stent, nitinol stent, stainless steel stent, and bioresorbable polymer stent
In terms of end user, the global vascular stents market has been categorized into hospitals, cardiac centers, and ambulatory surgical centers. The hospital segment is projected to dominate the global vascular stents market during the forecast period.
The market size and forecast for each of these segments have been provided from 2017 to 2027. The CAGR of respective segment has also been provided for the forecast period from 2019 to 2027, considering 2018 as the base year.
Vascular Stents Market: Regional Outlook
In terms of region, the global vascular stents market has been segmented into North America (U.S. and Canada), Europe (U.K., Germany, Spain, Italy, France, and Rest of Europe), Asia Pacific (China, India, Japan, Australia & New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and Middle East & Africa (GCC Countries, South Africa, and Rest of Middle East & Africa)
The report provides market size and forecast for each region and country/sub-region from 2017 to 2027. Compound annual growth rates (CAGRs) of each of these regions and countries have also been provided for the forecast period from 2019 to 2027, considering 2018 as the base year. The vascular stents market study also covers the competitive scenario in these regions.
Companies Mentioned in Report
Key players in the global vascular stents market have been profiled based on key aspects such as company overview, product portfolio, financial overview, recent developments, and competitive business strategies
Major companies profiled in the global vascular stents market report
- Abbott Vascular (Abbott Laboratories)
- Cordis Corporation (A Cardinal Health Company)
- Boston Scientific Corporation
- BIOTRONIK AG
- Lifetech Scientific
- C. R. Bard, Inc. (Becton, Dickinson and Company)
- Biosensors International Group, Ltd.
- Cook Medical,
- W. L. Gore & Associates, Inc.
Key Questions Answered in Vascular Stents Market Report
- How does the development of vascular stents provide scope of growth in the vascular stents market?
- How alliances and partnerships between players are widening the scope of new line of technologies for vascular stents?
- What are the revenue share projections of key segments under various criteria in the vascular stents market during the forecast period?
- Which segment is likely to register leading revenue until the end of the forecast period in 2027?
- How is the evolving health care system in developing countries of Asia Pacific making an impact on the overall vascular stents market?
Vascular Stents Market – Segmentation
- Coronary Artery Stents
- Bare Metal Stents
- Bioresorbable Stents
- Covered Stents
- Drug Eluting Stents
- Peripheral Vascular Stents
- Fem-pop Artery Stents
- Iliac Artery Stents
- Infrapop Artery Stents
- Neurovascular Stents
- Balloon Expandable Stents
- Self-expanding Stents
- Cobalt-Chromium Stent
- Platinum-Chromium Stent
- Nitinol Stent
- Stainless Steel Stent
- Bioresorbable Polymer Stent
- Cardiac Centers
- Ambulatory Surgical Centers
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
TABLE OF CONTENT
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Research Methodology
3. Executive Summary : Global Vascular Stents Market
4. Market Overview
4.1.1. Vascular Stents Market Introduction
4.1.2. Industry Evolution / Developments
4.3. Market Dynamics
4.4. Global Vascular Stents Market Analysis and Forecast, 2017–2027
4.4.1. Market Revenue Projections (US$ Mn)
5. Key Insights
5.1. Key Mergers & Acquisitions
5.2. Technological Advancements
5.3. Disease Prevalence & Incidence Rate globally with key countries
5.4. Vascular Stents Product Mapping
6. Global Vascular Stents Market Analysis and Forecast, by Type
6.1. Introduction & Definition
6.2. Key Findings / Developments
6.3. Market Value Forecast, by Type, 2017–2027
6.3.1. Coronary Artery Stents
188.8.131.52. Bare Metal Stents
184.108.40.206. Bioresorbable Stents
220.127.116.11. Covered Stents
18.104.22.168. Drug Eluting Stents
6.3.2. Peripheral Vascular Stents
22.214.171.124. Fem-pop Artery Stents
126.96.36.199. Iliac Artery Stents
188.8.131.52. Infrapop Artery Stents
6.3.3. Neurovascular Stents
6.4. Market Attractiveness, by Type
7. Global Vascular Stents Market Analysis and Forecast, by Delivery Method
7.1. Introduction & Definition
7.2. Key Findings / Developments
7.3. Market Value Forecast, by Delivery Method, 2017–2027
7.3.1. Balloon Expandable Stents
7.3.2. Self-expanding Stents
7.4. Market Attractiveness, by Delivery Method
8. Global Vascular Stents Market Analysis and Forecast, by Material
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