Stents Market size to exceed $11.4bn by 2028

Stents Market size is set to surpass USD 11.4 billion by 2028, according to a new research report by Global Market Insights Inc.
 

The market is expected to witness a healthy CAGR during the forecast period owing to increasing technological advancements, novel product launches, and rising demand for various minimally invasive procedures. Thus, such product approval increases the adoption of minimally invasive procedures as it allows physicians to reduce morbidity of many surgical procedures by eliminating need for larger surgical incision. Furthermore, regulatory bodies play a major role in managing and ensuring safety parameters of diagnostic devices will fuel the stents market expansion.
 

Increasing demand for minimally invasive procedure will spur the market statistics

The growing demand for minimally invasive procedure is owing to less pain, shorter hospital stay, and less complication rate associated with surgeries. The minimally invasive surgeries enable the surgeons to gain access to the body through small incision to operate, thereby allowing them to operate efficiently with mush less damage to the patient body in comparison to conventional surgical approach.
 

Additionally, increasing awareness and rising preference for minimally invasive procedure to eliminate post-operative trauma and complications will accelerate the industry trends. The advantages associated with minimally invasive surgery such as reduced treatment cost, negligible blood loss during the surgery, smaller incision, less discomfort, thereby driving the business landscape.
 

Product recall and failure may hamper the stents market revenue

Stents undergo deformation, recoil, fracture, and plague prolapse. Such product failure may lead to serious patient outcomes. Stent grafts used to treat aortic aneurysm may move from its placed position which may cause stents to break within the peripheral artery and may lead to blood leakage. Also, various other complications associated with stents may lead to withdrawal of product.
 

For instance, in April 2021, Boston Scientific Corporation recalled its VICI VENOUS STENT System and VICI RDS VENOUS STENT and FDA identified it as a class I recall. The reason for product recall was the potential stents migration. Migrated stents require another surgery that may possibly increase the risk to the patients including possible damage to the heart walls, blood vessel or other organs. Also, if the stents migrate to the heart, it may cause life-threatening injury. Thus, the aforementioned factors ultimately hamper the industry outlook.
 

Browse key industry insights spread across 300 pages with 707 market data tables & 20 figures & 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), Material (Metal, Polymer), Type, (Self-expandable Stents, Balloon-expandable Stents), End-use (Hospitals, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2022 - 2028” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/stent-market
 

Rising prevalence of chronic diseases will drive the market demand

Stents market from non-vascular stents segment accounted for 8% business share in 2021 and is estimated to register significant CAGR during the forecast timeframe. Non-vascular stents are intended for clearing the blockages in non-vascular organs such as bronchi, esophagus, urinary & biliary tracts, and trachea. This is attributed to the growing prevalence of pulmonary disease, gastrointestinal disease, urological disorders coupled with the increasing technological advancements in non-vascular stents. Thus, the increasing prevalence of various disease will spur the business development.
 

Advantages associated with polymer stents will augment the industry statistics

Stents market from polymer stents segment surpassed USD 1,706.7 million in 2021. The polymer stents have extensive application in cardiology. Furthermore, polymer stents have excellent barrier property that attribute lower permeability. Also, key players and researchers are focusing on biodegradable polymer materials that reduce adverse events like hypersensitivity reactions, in-stent restenosis, and late stent-thrombosis. Thus, various advantages associated with polymer stents are predicted to boost the adoption of polymer stents.
 

Use of self-expandable stents for the treatment of peripheral arterial disease will accelerate the industry landscape

Self-expandable stents segment accounted for 36.4% of total market share in 2021 is set to register a significant CAGR through 2028. This is attributed to increasing adoption of stents implant surgeries across the globe. Self-expandable metal stents possess cylindrical shape and are composed of stainless steel that are compressed within a delivery catheter that rely on mechanical springlike design to achieve expansion that exerts self-expanding force until it achieves maximum diameter. The self-expanding stents are commonly used in the treatment of peripheral arterial disease like femoropopliteal percutaneous intervention and external iliac. Furthermore, the usage of self-expandable stents in the treatment of esophageal cancer and other diseases will augment the industry scenario.
 

Availability of advanced facilities in ambulatory surgical centers is projected to increase customer base

Stents market from ambulatory surgical centers accounted for 20% revenue share in 2021 and is likely to witness considerable CAGR during the forecast timeframe This is attributed to increasing preference of patients visiting to ambulatory surgical centers for stents implantation surgeries. Also, ambulatory surgical centers are noted as convenient alternatives to hospital-based outpatient procedures, fueling the segment expansion. Furthermore, increasing technological advancements and the advanced technologically equipped tools and facilities available in ambulatory surgical centers will boost the business revenue.
 

Rising prevalence of COPD disease will propel the European market trends

Europe stents market is set to cross USD 1.3 billion by 2028. Increasing geriatric population suffering from chronic obstructive pulmonary disease (COPD) will augment the regional market growth. Furthermore, increasing usage of stents for heart diseases and related disorders will stimulate the regional market expansion. The increasing preference of stents procedure owing to technological advancement over other conventional methods will accelerate the regional market outlook.
 

Adoption of inorganic growth strategies by key players to strengthen their business portfolio

The eminent market leaders operating in the stents industry include Abbott, Boston Scientific, Medtronic, B Braun, Biosensors, Biotronik, Stryker Corporation and Terumo Corporation. These market players focus on strategies such as product development & launches, mergers & acquisitions and collaboration to garner more revenue and sustain market competition.
 

For instance, in October 2020, Medtronic announced that it received U.S. FDA approval for its Abre venous self-expanding stent system indicated for iliofemoral veins in patients with symptomatic iliofemoral venous outflow obstruction. This launch enabled the company to expand its customer base and strengthen its market position.