The demand for stents is increasing to treat the diseases that affect the heart and blood vessels of elderly and middle-aged patients. Due to the current shift in the demographic structure caused by an aging society, the prospect for stents seems to be bright. A stent implant is commonly used for the treatment of cardiac abnormalities such as blocked blood vessels. They are also inserted in the ureter to prevent obstruction of urine flow from kidney, in the gall bladder to allow passage of bile in the patients suffering from the gall bladder cancer, and in the abdomen & gastrointestinal tract. The Stents market is estimated to grow at a CAGR of 5.21% during the forecast period 2020-2025. Asia-Pacific is the fastest growing market with a CAGR of 8.13%, owing to the increasing number of patients with coronary artery diseases along with a significant decline in the prices of the stents and growing healthcare expenditure.
Stents Market Outlook
Stents are generally made of metals, polymers, and natural materials and are available for different clinical conditions in the market. The global stents market is estimated to witness significant growth during the forecast year due to increased incidence of heart-related diseases and huge demand for various diagnosis and treatment methods. Additionally, the increasing availability of diagnostic services for coronary heart diseases also fuels the growth of the market. Moreover, favorable reimbursement policies are likely to boost the market growth. The global stents market is analyzed to be dominated by the coronary stents with a share of 58% in 2020. The coronary stents market has recorded the revenue of US $6.73 billion in 2020 and expected to reach US $8.97 billion by 2025 with a CAGR of 5.2%. The major factors driving the growth of these stents include technological advancements and rising burden of cardiovascular diseases.
Stents Market Growth Drivers
There has been a significant increase in population with a cholesterol-rich diet and smoking habits since the last decade. The changing lifestyle and the growing millennial population with munching habits are resulting in high cholesterol intake. Moreover, the increase in the population of smokers is analyzed to add up the risk of atherosclerosis along with hypercholesterolemia. These habits and lifestyle changes are estimated to drive the stent market in the future as a significant share of the population with improper food and smoking habits would require coronary and peripheral angioplasty to re-open the blocked arteries.
Percutaneous Coronary Intervention (PCI) can be performed in a shorter interval of time than a bypass surgery as the stent is inserted into the body from the groin area or arm through a catheter. Owing to the lesser recovery and in-hospital time, stents has gained popularity among medical practitioners as well as patients. The adoption of stents for cardio vascular diseases is expected to grow at a healthy rate in the future owing to an increase in the demand for minimally invasive surgical procedures and reduction in surgery expenses.
Stents Market Challenges
The stenting procedure involves certain risks despite its advantages over bypass surgeries. The risk of bleeding, bruises at the insertion point and in the artery lining remains at large followed by stent thrombosis (clotting of blood in the stent), allergic reactions to the dye or the stent, need for bypass surgery due to numerous blockages which cannot be treated by angioplasty and many others. This is analyzed to impede the adoption of stent and is poised to continue during the forecast period 2020-2025.
With the risks involved such as damage to the valves, stent thrombosis and many others there has been a significant increase in the regulation stringency involved in the production of the stent and also in the surgical methods used for placement and adjustment of the same. Moreover, extensive clinical trials are required to analyze the chances of allergic reactions with the stent material, coating, and contrasting dye before the product is commercially launched. Moreover the differences in the regional regulations also impedes the entry of the products into certain markets which increases the time to market the products thereby constraining its growth to a certain degree.
Stents Market Research Scope
The base year of the study is 2020, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of products that will be used in the stents market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the type of product and material of stents.
Stents Market Report: Industry Coverage
- By Product Type: Coronary, Peripheral, Carotid, Neurovascular, Biliary and others.
-By Material: Metallic, Polymer, and Natural
The Stents market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions.
The regions and countries covered in the study include:
-Americas: The U.S., Canada, Mexico, Brazil and rest of Americas
-Europe: The U.K., France, Italy, Germany, Spain, Russia, and Rest of Europe
-APAC: China, Japan, South Korea, India, and Rest of APAC
-RoW: Middle East and Africa
Stents Market Trends
Stenting is considered to be more comfortable than a bypass heart surgery for the heart patients. Stenting does not involve any major operation as it can be performed with the help of local anesthesia and low sedation, thus showing significant growth in the stent market.
The increase in chronic disease prevalence coupled with the rapidly aging population worldwide is set to increase demand for stent implants. According to the WHO report, in 2010 the population over the age of 65 was around 524 million, which is expected to grow to 1.5 billion by 2050.
Key Questions Addressed in the Stents Market Report
- Is the Stents market growing? How long will it continue to grow and at what rate?
- Which product of Stents presents the major growth opportunities?
- Is there a possibility for change in the market structure over time?
- Are additional developments needed for the existing product or services offerings or do the existing products meet the customer demands?
- Do the key vendors look for partnerships to expand their businesses with respect to geography or product?
- What is the current status of Stents in different countries?
- Which type of product will witness heavy adoption of Stents in the near future?
- What are the short-term, long-term, and medium-term growth drivers for the market?
- What are the short-term, medium-term, and long-term challenges for the market?
- What are the short-term, medium-term, and long-term opportunities for the market?
- Who are the top players/companies of the market?
- What are the recent innovations in the market?
- How many patents have been filed by the leading players?
- What are the types of patents filed by the leading players?
- What is the futuristic scenario for the adoption of Stents?
- What is our Vision 2030 for the Stents market?
A few focus points of this Research are given below:
- Give a deep-dive analysis of the key operational strategies with focus on the corporate structure, R&D strategies, localization strategies, production capabilities, and sales performance of various companies.
- Provide an overview of the product portfolio, including product planning, development, and positioning.
- Discuss the role of technology companies in partnerships.
- Explore the regional sales activities.
- Analyze the market size and giving the forecast for current and future Stents market during the forecast period 2020–2023.
- Analyze the competitive factors, competitors’ market shares, product capabilities, and supply chain structures.
Research Best Practices
- The Stents market size is evaluated based on the number of products per organization type along with the varying price points pertaining to specific applications. These were identified as key informational conjectures for market estimation in 2017.
- The Stents market share is thoroughly checked against all data points that have been incorporated and rechecked against various data sources. Various C-level executives and key opinion leaders are contacted for verification of the data.
- The Stents market forecast and growth rate are achieved by applying the time series forecasting methodology on the various factors. The market forecast and growth rate are further backed with historical trends of the market along with a regressive mathematical model that assesses the value based on factors such as capital expenditure, equipment lifespan, R&D investments, and so on.
- The Stents market demand has been researched taking into account the prominent economies across the different geographic regions to understand their corresponding impact on the market.
- The Stents market drivers are evaluated for short-term, medium-term, and long-term based on the different market dynamics impacting the market.
- The Stents market challenges are evaluated for short-term, medium-term, and long-term based on the different market dynamics impacting the market.
- The Stents market trends have been analyzed taking into consideration the micro and macro trends prevalent in various geographies.
- The Stents market outlook provides a brief overview of the market performance and anticipated change in market dynamics.
- The Stents market analysis also involves the identification of new companies that have entered the market scenario and their impact on the market dynamics in the future.
This report will be delivered within 2 business days.
1.1 Definitions and Scope
2. Stents Market - Executive Summary
2.1 Market Revenue, Market Size and Key Trends by Company
2.2 Key trends by product type
2.3 Key trends segmented by geography
3. Stents Market – Market Landscape
3.1 Market Share Analysis
3.2 Product Benchmarking
3.3 Patent Analysis
3.4 Financial Analysis
4. Stents Market- Market Forces
4.1 Market Drivers
4.2 Market Constraints
4.3 Porters five forces model
4.3.1 Bargaining power of suppliers
4.3.2 Bargaining powers of customers
4.3.3 Threat of new entrants
4.3.4 Rivalry among existing players
4.3.5 Threat of substitutes
5. Stents Market – Strategic Analysis
5.1 Value Chain Analysis
5.2 Pricing Analysis
5.3 Opportunity Analysis
5.4 Market Life Cycle Analysis
6. Stents Market – By Product Type(Market Size -$Billion)
7. Stents Market – By Material(Market Size -$Billion)
8. Stents Market - By Geography (Market Size -$Billion, KT)
8.1.5 Rest of Americas
8.2.7 Rest of Europe
8.3.4 South Korea
8.3.5 Rest of APAC
8.4 Rest of the World
8.4.1 Middle East
9. Stents Market - Market Entropy
10. Stents Market Company Analysis
10.1 Market Share, Company Revenue, Products, M&A, Developments
10.2 Abbott Laboratories
10.3 B.Braun Melsungen AG
10.4 BIOTRONIK SE & Co. KG
10.5 Boston Scientific Corporation
10.6 C.R BARD INCORPORATION
10.7 Cook Medical
10.8 Elixir Medical Corporate
10.9 Medtronic Plc.