Stent are small mesh tubes which is used to treat narrow or weak blood vessels or arteries that carry blood away from your heart to other parts of your body. The insertion of a stent helps in restoring the flow of blood or other fluids, depending on where it’s placed. Globally, increasing number of old age people and people with cardiac problems due to lifestyle changes are expected to remain the prime growth drivers for the stent market along with technological advancement in healthcare practices during the period of study. The count of 65 years or older population is expected to rise to 2 billion globally by 2050, according to a report published by WHO, it will lead to hike in demand for the stents in market
Geographically, North America dominated the stents market driven by a world class healthcare infrastructure with a technologically advanced practice, higher pool of old age & people with cardiac diseases, ease of access to medical facility, favorable government policies, higher spending and presence of key industry players in the region. North America was followed by Europe and Asia-Pacific as second and third largest market for stents market. Asia Pacific is projected to have the fastest growth, owing to a rapidly developing medical infrastructure, increasing spending on healthcare and growing medical tourism in developing nations such as China and India in this region.
Stents market is estimated at $10,761.2 million in 2017 and is expected to grow at a CAGR of more than 5.6%.
What are Stents ?
Stents are tiny expandable wire mesh tubes made up of metal or plastic mesh like materials that used to treat narrow or weak arteries and are placed into blood vessels, arteries or other hollow structures to open narrowed vessels and reduce the chances of chest pain or heart attack. The process for placement of stent into a body is known as stenting. A stent is placed in an artery as part of a procedure called percutaneous coronary intervention (PCI), also known as coronary angioplasty. Recovery from angioplasty and stenting is typically quick. After the catheter is removed, discharge from the hospital takes 12 to 24 hours. The insertion of a stent helps in restoring the flow of blood or other fluids, depending on its placement position. It is nowadays becoming widely accepted treatment for diseases like cardiac arrest which prove to be very crucial for healthy lifestyle.
Many patients are able to return to work within a few days to a week after a procedure. Vascular stent implantation is very common in modern hospitals it is used to improve cardiovascular system working and supplements the system. The implantation is assisted by use of modern instruments which involve displays such as X-ray, ECG, etc. for the stent.
What are the major applications for Stents ?
Stents are implanted in a patient whose cardiac system functions improperly. They help in maintaining both arterial and venous patency in congenital heart disease. Stent implantation is used as a treatment for pulmonary arterial stenosis, coarctation, pulmonary and systemic venous obstruction, and obstructed homograft and conduits, in both the pediatric and adult populations.
Coronary stents, specifically bare metal stents (BMS), are developed to provide an intracoronary scaffolding device to reduce elastic recoil and remodeling, thus reducing the rate of restenosis. The BMS is a small mesh tube which is pre-loaded on a catheter and that is guided forward from the aorta to the blocked area. At the lesion site it is expanded within the vessel. After expansion, the BMS serves as a scaffold to leave the artery open. Metal stents are typically made of implantable grade metals, such as: Stainless Steel (316LVM), Nickel Titanium (Nitinol), Titanium or Cobalt Chromium (CoCr) alloys (L605, MP35N).
Drug Eluting Stents are being developed and researched they almost eliminated the risk of the artery collapsing and have reduced the renarrowing of blood vessels by 10%. They have reduced the number of repeat procedures for diabetic people, who have a higher risk of their arteries getting narrow again.
Market Research and Market Trends of Stents Ecosystem
- Increasing demand for minimal invasive surgeries globally will drive the market of vascular stents. In addition, ageing population will further drive the market growth of vascular stents. The count for people aged 65 years or above is expected to rise to touch 2 billion by 2050, according to a report published by WHO thereby increasing the geriatric population. It will induce the demand of vascular stents hence will drive the market growth. In addition, an increase in adoption of vascular stents in emerging economies such as China, India and others, will create new opportunities for the this market.
- Higher cost of research, evolution of preventive medicines, development, higher cost of stents, and availability of alternative therapies and treatments like coronary artery bypass surgery in low cost are the key restraints for the stents market.
- Governments are taking initiatives to cap the prices of lifesaving stents. With the developing biomedical sciences and innovations in technology these implantations are going to become simpler and cheaper and market is expected to keep steady growth.
- In 2016, the FDA approved a new type of stent made of a special polymer that eventually dissolves into the body. This new stent releases a drug called everolimus, which limits the growth of scar tissue that can re-block the coronary artery.
- According to WHO about 17.3 million people died from cardiovascular disease in 2008 and the number is expected to reach 23.3 million by 2030. This increase in number of patients suffering from cardiovascular disease across the world will supplement the demand of global stents in market.
- Asia Pacific is projected to have the fastest growth, owing to a rapidly increasing aging population, rise in consumer awareness, increasing healthcare expenditure favorable government policies, modernization of healthcare infrastructure, and growing medical tourism industry in developing nations such as China, and India in this region. Among all the material, metal stents has the highest market share in the stents market.
- Many new second- and third-generation stent designs are being developed, in clinical trials, or have been approved for use outside the U.S. These include:
- One with a covering that delivers an anti-restenosis drug for months and then basically becomes a bare-metal stent
- A version that is absorbed by the body and disappears after it has done its work
- A stent that uses a coating to quickly create a thin, all-natural layer inside the artery
Who are the Major Players in Stents market?
The companies profiled in the report include Abbott Laboratories, B. Braun Melsungen AG, Biotronik SE & Co. KG, Boston Scientific Corporation, C.R. Bard, Inc., Elixir Medical Corporation
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