The venous stents market studied was projected to grow with a CAGR of nearly 9.8% over the forecast period. The major factor attributing to the growth of the market is the rising incidence of chronic symptomatic venous diseases like chronic deep vein thrombosis, Post-thrombotic syndrome, May-Thurner syndrome, Nutcracker syndrome, Hemodialysis/arteriovenous fistulae, etc.
According to the Centers for Disease Control and Prevention, 60,000-100,000 Americans die from deep vein thrombosis, every year. As per the statistics, there is a significant rise in the patient pool which is expected to boost the market growth. The other important factor propelling the market growth is the increasing geriatric population who are prone to such diseases.
However, the lack of awareness of the venous stents and the high cost of stenting are major drawbacks for market growth.
Key Market Trends
Leg Segment Application is expected to Dominate the Market Share
- Deep Vein Thrombosis is a blood clot in one of the large, deep veins that returns blood from the leg, and very rarely in the arm, heart.
- Legs application segment surfaced as the frontrunner in the global venous stents market. This increased growth can be credited to factors such as the increasing prevalence of the Deep Vein Thrombosis and the increasing geriatric population. According to the United Nations, the global population aged 60 years or over, numbered 962 million in 2017 and is expected to double by 2050, when it is projected to reach approximately 2.1 billion. The increasing patient pool and geriatric population increase market growth.
North America Dominates the Market and Expected to do Same in the Forecast Period
North America is expected to dominate the overall venous stents market, throughout the forecast period. The largest share is mainly due to the presence of key players and their usage of advanced medical technologies to develop products. Furthermore, established healthcare infrastructure, and high investments for healthcare are some of the key factors accountable for its large share in the market. Furthermore, beneficial government initiatives and an increase in the number of research partnerships are some of the drivers expected to increase market growth.
The venous stents market is highly competitive and consists of a few major players. Some of the companies which are currently dominating the market are Boston Scientific Corporation, Becton, Dickinson and Company., Gore Medical, Cook Medical, and Optimed Medizinische Instrumente GmBH.
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Table of Contents
1.2 Scope of the Study
4.2 Market Drivers
4.2.1 Rising Prevalence of Chronic Symptomatic Venous Diseases
4.2.2 Increasing Geriatric Population
4.3 Market Restraints
4.3.1 High Cost of the Treatment and Lack of Awareness
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5.2 By Disease
5.2.1 Chronic Deep Vein Thrombosis
5.2.2 Post Thrombotic Syndrome
5.3.1 North America
126.96.36.199 United States
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
5.3.3 Asia Pacific
220.127.116.11 South Korea
18.104.22.168 Rest of Asia-Pacific
5.3.4 Middle East and Africa
22.214.171.124 South Africa
126.96.36.199 Rest of Middle East and Africa
5.3.5 South America
188.8.131.52 Rest of South America
6.1.1 Boston Scientific Corporation
6.1.2 Becton, Dickinson and Company
6.1.3 Gore Medical
6.1.4 Cook Medical
6.1.5 Optimed Medizinische Instrumente GmBH
6.1.6 Medtronic Plc
6.1.7 Medica Germany GMBH & Co. KG
A selection of companies mentioned in this report includes:
- Boston Scientific Corporation
- Becton, Dickinson and Company
- Gore Medical
- Cook Medical
- Optimed Medizinische Instrumente GmBH
- Medtronic Plc
- Medica Germany GMBH & Co. KG