”, the market is expected to reach $14, 838.24 million by 2023, with a CAGR of 5.6 %. Increasing population of coronary or peripheral artery diseases due to intake of more cholesterol and smoking, drives the market.
North America dominates the Stents Market during the 2018-2023 forecast period
North America has a major share in the Stents Market. This can be attributed to the availability of reimbursement facilities, increasing prevalence of diseases, and presence of large number of companies that promote the products. Growth of geriatric population and sedentary lifestyle are other factors boosting the market. Development of innovative products is the main factor contributing to the growth of vena cava filters.
The Asia Pacific region is driven by changing lifestyles, increasing geriatric population, and growth of medical tourism. Countries like China and India have favorable government initiatives that help with the pricing of medical devices. This factor is slated to spur the growth of the synthetic grafts in the region in the coming years. The growth of per capita healthcare expenditure in Asia Pacific is also expected to spur the growth for renal stents.
Selected Regulatory Analysis done in the full Report:
Hospitals have a major share in the Stents Market, where cardiac centers have a faster growth rate with a CAGR of 6.4% during 2018-2023. Most of the stent procedures are conducted in hospitals only. Growth of aging population, middle class and growing chronic diseases like coronary heart disease, obesity, and diabetes are the main factors driving the growth of stents. Doctors implement angioplasty when a person suffers a cardiac arrest. However, it may not always be available in all hospitals. This factor shows the need for the femoral- popliteal stent in hospitals.
The use of the carotid stents in angioplasty has increased due to improvements in stent design and anti-platelet treatments. Growing aging population with cardiovascular diseases increases the number of stent procedures performed in the cardiac centers.
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Selected Driving Factors Mentioned in the Full Report:
Growing consumption of cholesterol rich food and smoking habits have increased in the last decade. The changing lifestyle has led to changing eating habits, which is leading to an increased demand for iliac stent in the near future.
Governments of developing economies are framing policies to lower the prices of metal stents so that the devices are available for more number of patients suffering from cardiovascular diseases.
Growing medical expenditures due to rising disposable income of the middle class population and growing awareness about stenting will bolster the Stents Market during the forecast period.
PCI or Percutaneous Coronary Intervention is performed in a shorter interval of time compared to a by-pass surgery, as the stent is inserted into the body from the groin or arm through a catheter. Due to less recovery time, the adoption of stents will rise in the future.
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Key players of the Stents Market:
Abbot Diagnostics operates in segments such as pharmaceuticals, nutritionals, diagnostics, vascular, and others. It offers products like XIENCE Family of Drug Eluting Stents. Braun Melsungen AG offers stents made from stainless steel which have superior flexibility. It even provides a peripheral self-expanding nitinol stent system. Biotronik’ hybrid drug eluting stent matches the standards of the stents produced by Abbot.
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