LONDON, Oct. 11, 2016 /PRNewswire/ -- A stent is a metallic or a polymer tube implanted into the lumen of any blood vessel or a duct in order to keep the passage open. A variety of stents for different clinical conditions are available in the market. A stent implant is most commonly used for the treatment of cardiac abnormalities such as blocked blood vessels. In addition, stents are implanted in the esophagus to allow the passage of food and beverages in patients suffering from esophageal cancer. 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 patients suffering from gall bladder cancer, and in the abdomen & gastrointestinal tract. They are generally made of metals, polymers, and natural bioabsorbable materials.
The world stent market is estimated to generate a revenue of $16,666 million by 2022. The growth in the world stents market is primarily attributed to the rising geriatric population, who are more susceptible to strokes and require a stent implant for treatment, technological advancements in stents, increased adoption rate of these devices, and increased risk of restenosis in patients undergoing angioplasty. In addition, unhealthy diet habits and lack of necessary physical activity lead to the development of cardiovascular diseases, and hence increase the need for percutaneous coronary interventions. Conversely, stringent government regulations for the approval of stents as they are highly specific devices and high cost of stent implant procedures are factors restraining the market growth.
The report segments the world stents market based on product type, material, and geography. Based on product type, it is categorized into coronary stents and peripheral/vascular stents. Mainly three types of coronary stents are used, namely, drug-eluting stents, bare metal stents, and bioabsorbable stents. Out of these, endothelial progenitor cell capture stent, a type of drug-eluting stent, is preferred over the others as it uses the latest technology and prevents stent thrombosis. Coronary stents was the highest revenue-generating and fastest growing segment in 2015, registering a CAGR of 9.5% during the analysis period, owing to increasing advances in the field of interventional cardiology coupled with the progress of minimally invasive techniques.
Based on material, the market is segmented into metallic biomaterials, polymer biomaterials, and natural biomaterials. Among these, metallic stents segment generated the highest revenue in 2015 and natural biomaterials segment is estimated to grow at fastest CAGR of 10.5% from 2016-2022.
Based on geography, the market is divided into North America, Europe, Asia-Pacific, and LAMEA regions. Asia-Pacific is expected to continue to dominate due to rise in the geriatric population, favorable reimbursement rates, and rise in the prevalence of chronic disorders even among younger population. LAMEA is expected to emerge as the area with maximum growth potential, owing to the presence of high unmet medical needs and constantly improving healthcare infrastructure to cure cardiac disorders, hemodialysis, and other clinical conditions which lead to constriction of blood vessels. Huge investments in developing nations by key players results in market growth owing to the rapidly growing aged population.
Key players operating in the world stents market include Abbott Laboratories, B. Braun Melsungen AG, Biotronik SE & Co. KG, Boston Scientific Corporation, C.R. Bard, Inc., Elixir Medical Corporation, Medtronic plc, Microport Scientific Corporation, STENTYS SA, and Terumo Corporation.
1.1 Key benefits
- The study provides an in-depth analysis of the world stents market with current trends and future estimations to elucidate the imminent investment pockets.
- The report provides a quantitative analysis from 2014 to 2022, which is expected to enable the stakeholders to capitalize on prevailing market opportunities.
- Extensive analysis by product helps in understanding the various types of devices used for the treatment of chronic diseases and other related cardiac conditions.
- Competitive intelligence highlights the business practices followed by leading players across various regions.
- SWOT analysis studies the internal environment of the leading companies for strategy formulation.
1.2 Key market segments
The world stents market is segmented based on product type, material, and geography.
- Coronary Stents
Drug-Eluting Stents (DES)
Bare-Metal Coronary Stents
- Peripheral Stents
- Stent-Related Implants
Vena Cava Filters
- North America
Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA
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