Stents Market Revenue to Cross USD 14 Bn by 2026: Global Market Insights, Inc.
China stents market is projected to attain a CAGR of more than 5.5% till 2026 on account of rising prevalence of CVDs in the country.
SELBYVILLE, Del., Jan. 19, 2021 /PRNewswire/ -- According to latest report "Stents Market by Product (Vascular Stents, Non-vascular Stents), Material (Metal, Polymer), Type, (Self-expandable Stents, Balloon-expandable Stents), End-use (Hospitals, Ambulatory Surgical Centers), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2026", by Global Market Insights, Inc., the market valuation of stents will cross $14.3 billion by 2026. Surge in number of peripheral and coronary artery surgical procedures along with growing demand for minimally invasive techniques will propel the market growth.
Adoption of sedentary and unhealthy lifestyle is one of the prime factors for growing prevalence of cardiovascular diseases. For instance, about 60% of the U.S. citizens above 18 years of age are physically inactive. This is due to a significant increase in number of sedentary jobs that require no or minimum activity. As loss of activity is considered as one of the prime factors for cardiovascular diseases, the demand for treatment of CVD will rise, thereby fueling the market expansion. Additionally, growing elderly population base that requires peripheral coronary intervention (PCI) procedure for treatment of blockage will further boost the industry revenue.
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Rigorous RD activities by the manufacturers to develop innovative stents will be one of the key factors driving the stents market demand. Manufacturers are integrating multiple novel technologies for developing technologically advanced stents. For instance, OrbusNeich Medical K.K. announced launch of its COMBO Plus Coronary Stent in Japan in September 2019. The stent combines the abluminal sirolimus drug elution delivered from a biodegradable matrix polymer with the proprietary endothelial progenitor cell [EPC] capture technology. The product addresses the risk of stent thrombosis associated with delayed healing found with conventional drug eluting stents. Availability of such reliable stents with minimal re-obstruction rate, will thus augment the market value.
Vascular stents valued at USD 10.3 billion in 2019 led by increasing lunch of technologically advanced products along with growing number of patients suffering from cardiovascular disorders (CVD). As per the European Heart Network, CVD affected more than 85 million people across the region. Thus, rising adoption of CVD treatments will prove beneficial for the industry expansion.
Polymer stent segment in the stents market is forecasted to reach USD 3 billion by 2026. Use of polyethylene, polylactides, polyurethanes and polyglycolides for various biodegradable and biostable properties will contribute to the segment growth. Numerous benefits such as high compatibility and reduced post-surgery complications associated with polymer stents will foster the market demand.
Self-expandable stents segment accounted for 36.1% of the market share in 2019 and is expected to exceed USD 5.3 billion by 2026. Self-expandable stents possess the property of attaining a desired diameter after placement. These stents have major applications to treat patients with femoropopliteal disease. Various advantages associated with self-expandable stents include improved durability and superior long-term patency rates that will impel the uptake of self-expandable stents during the forecast period.
Stents market for Hospital end-use segment exceeded USD 8.3 billion in 2019. Availability of advanced equipment and better facilities will increase the patient preference towards hospital settings. Implementation of stringent guidelines in hospital settings ensures and enhances patient safety and ensures superior surgical outcomes that will spur the segment expansion over the coming years.
China stents market is estimated to register growth of 5.5% during 2020 to 2026 on account of rising prevalence of CVDs in the country. For instance, the cardiovascular disease accounted for 2 out 5 deaths in China. Also, focus of market players on novel product development will act as another prime factor propelling the market growth over the forecast period. Increasing burden of cardiovascular diseases will influence the market revenue.
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Few notable companies operating in the stents market include Abbott Laboratories, B. Braun Melsungen AG, MicroPort Scientific Corporation, Medtronic, Boston Scientific, Terumo, Biosensors International Group, Biotronik, Elixir Medical Corporation and Meril Life Sciences. Industry leaders are adopting numerous strategies to strengthen market position.
Table of Contents (ToC) of the report:
Chapter 3 Stents Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2015 - 2026
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.2 Industry pitfalls & challenges
3.4 Growth potential analysis
3.4.1 By product
3.4.2 By material
3.4.3 By type
3.4.4 By end-use
3.5 COVID-19 impact analysis
3.6 Porter's analysis
3.7 Competitive landscape, 2019
3.7.1 Company matrix analysis
3.8 PESTEL analysis
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About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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Stents Market Growth Predicted at 3.9% Through 2026: GMI
Major stents market players include Abbott Laboratories, B. Braun Melsungen AG, MicroPort Scientific Corporation, Medtronic, Boston Scientific, Terumo, Biosensors International Group, Biotronik, Elixir Medical Corporation and Meril Life Sciences.
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