Vascular and Non-Vascular Stents Global Market - Forecast To 2021 - Reportlinker Review
NEW YORK, Oct. 15, 2015 /PRNewswire/ -- Stents are devices used in the body for treating weak or narrow blood vessels caused due to plaque formation Stents helps in improvement of the blood flow and prevents the blood vessels from bursting The global stents market is segmented based on the types, applications, materials, coatings, and geography Based on the types, the stents are divided into bare metal stents, drug-eluting stents and bio-resorbable stents By applications, the stents are divided into two segments as vascular and non-vascular stents Vascular stents are further classified into coronary stents and peripheral stents Peripheral stents are lower extremity & iliac stents, neurovascular stents and renal artery stents
Neurovascular stents sub segmented into carotid stents and intracranial stents Non-vascular stents are divided into gastrointestinal, airway, urology and ophthalmology & other stents Gastrointestinal stents are further segmented into pancreatic & biliary, esophageal, colorectal and duodenal stents Urology stents are further segmented into ureteral & urethral stents and prostate stents Depending on its materials, there are Metals and Polymers
Metals are segmented as cobalt-chromium, nickel-titanium, platinum-chromium, stainless steel and others whereas polymers are segmented as durable polymer and bio-absorbable polymers Based on the coating, there are coated stents and non-coated stents Coated stents are further segmented into inorganic, polymer, polymer-free and other coated stents Polymer coated stents subdivided into non-biodegradable polymer and bio-degradable polymer coated stents Geographical wise stents market segmented into North America, Europe, Asia-Pacific and Rest of the world (RoW)
Among the stents by type, drug-eluting stents occupied the largest share in 2014 and bio-resorbable stent segment is the fastest growing segment from 2014 to 2021 Based on applications, vascular stents hold the major share in 2014 and which is again the fastest growing segment at mid single digit CAGR from 2014 to 2021 Based on materials, metals occupied the largest share of 903% in 2014 and polymers segment is the fastest growing segment from 2014 to 2021 In case of coatings, coated stents occupied the largest share in 2014 and which is also expected to grow at high single digit CAGR offrom 2014 to 2021
Similarly by geographies, North America holds the major share of 423% among the geographies due to the introduction of new technologies by leading players, growing awareness and increased prevalence of arterial diseases and Asia is the fastest growing segment from 2014 to 2021 due to government initiatives for modernization of healthcare infrastructure, and increasing focus of both international and domestic players on the stents market
The stents market is expected to grow steadily from 2014 to 2021 The factors driving the growth of this market are increasing incidence of metabolic diseases, advancement in technology, raising old age population, preference for minimally invasive solution and rise in vascular procedures In addition to this, improving modalities of stent placements, stent adaptation in emerging regions, wide usage of stents and improvement in stent design and customized stents are some of the opportunities that are propelling the growth of the market However, slashing prices of stents, side effects associated with stents and less adoption and long term efficacy of novel technologies are hampering the growth of the market The threats for the stents market include reduced reimbursement, alternative procedures and stringent regulations for stent approval and medical tax
The global stents market is a highly competitive market and all the existing players in this market are involved in developing new and advanced products to maintain their market shares Some of the key players of the stents market are Abbott laboratories (US), BBraun (Germany), Biosensors (Singapore), Boston scientific (US), Cordis Corporation (US), Medtronic (Ireland), Olympus (Japan), Microport (China), Terumo (Japan), Biotronik (Germany) Cook Medical (US) and CRBard (US)
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