Vascular stents such as coronary stents, peripheral stents etc. offer insertion of a metal or plastic tube within the anatomic vessel during angioplasty surgeries for the treatment of vascular diseases such as, atherosclerosis and peripheral artery disease, aneurysm, buerger’s diseases etc. The global vascular stent market is expected to rise at a CAGR of about 7.5% during the forecast period 2016-2023.According to the University of Minnesota Health, United States, vascular stents is majorly used by interventional cardiologists for treatment of coronary artery disease. Moreover, according to the Mayo Clinic, United States, drug eluting stents are the most preferred type as theses are more likely to keep any of the blockages from recurring. It also eliminates the need for repeat angioplasty procedures.
Rising prevalence of vascular diseases among geriatric population is one of the major factors which contribute to the growth of global vascular stent market during the forecast period. According to the National Center for Biotechnology Information (NCBI), United States, vascular diseases are highly prevalent among geriatric population due to factors such as pulmonary vasculature and pulmonary hypertension with age associated stiffening of the heart. According to the National institute of health (NIH), United States, global geriatric population is expected to reach to about 1.6 billion by the end of 2050 from 617 million in 2015. As per NCBI, Korean geriatric population is expected to reach 24.3% (aged 65 or older) by the end of 2030. This is expected to increase the risk factors associated with cardio vascular diseases which increases the demand for vascular stents and is expected to promote the market growth during the forecast period.
Source: OBRC Analysis
The report on the global vascular stent market is segmented on the basis of type, product, mode of delivery, material and end users.
Types of vascular stent include:
- Drug-Eluting Stents
- Bare-Metal Stents
- Bioabsorbable Stent
Products in vascular stent are divided as:
- Coronary Stents
- Peripheral Stents
o Carotid Artery Stents
o Renal Artery Stents
o Femoral Artery Stents
o Other Stents
- Evar Stent Grafts
o Abdominal Aortic Aneurysm Stents
o Thoracic Aortic Aneurysm Stents
Mode of delivery in vascular stent includes:
- Balloon-Expandable Stents
- Self-Expanding Stents
Materials in vascular stent are divided as:
- Metallic Stents
o Cobalt Chromium
o Platinum Chromium
o Nickel Titanium
o Stainless Steel
- Other Stents
End users adopting vascular stent include:
- Hospitals and Cardiac Centers
- Ambulatory Surgical Centers
The report scope is widely categorized on the basis of its segments such as type, product, mode of delivery, material and end users. Moreover, the market revenue estimates and forecast includes only vascular stent. However, the report scope excludes other treatment methods such as drug treatment, etc.
Geographically, the global vascular stent market report has been segmented in:
- North America (U.S. & Canada)
- Asia Pacific (China, India, Japan, RoAPAC)
- Europe (UK, France, Germany, RoE)
- Rest of World
North America accounted for the largest market share in terms of revenue for the vascular stent market in 2016 followed by Europe and is expected to dominate the market during forecast period. Dominance of North America, during the forecast period is witnessed due to rising prevalence of cardio vascular diseases across regions such as United States, etc. According to the American Heart Association, United States, about 41.5% of the total U.S. population had cardiovascular diseases. This is expected to reach up to 45% cardiovascular diseases cases in United States by the end of 2035. Moreover, according to the Centers for Disease Control and Prevention (CDCP), United States, nearly 630,000 Americans die from heart disease each year (1 in every 4 deaths). Such factors contribute to the dominance of North America vascular stent market during forecast period. Furthermore, Asia Pacific is expected to be the fastest growing region for stent market during the forecast period due to growing geriatric population in the region. Countries such as China and India majorly contribute towards the fastest growth rate of Asia Pacific vascular stent market during the forecast period.
Global vascular stent market report covers segmentation analysis of type, product, mode of delivery, material and end users. Report further covers segments of type which include drug-eluting stents, bare-metal stents and bioabsorbable stent. According to OBRC analysis, drug-eluting stent held the largest market share in terms of revenue in 2016 and is expected to dominate the type segment during the forecast period. The dominance is witnessed due to numerous advantages of drug-eluting stents over bare-metal stent such as s lower risk of restenosis, etc. Furthermore, Mode of delivery in vascular stent includes balloon expandable stents and self expanding stents. Balloon expandable stents segment is expected to grow at the highest rate during the forecast period, as per OBRC analysis. Fastest growth rate of balloon expandable stents is expected due to increasing regulatory approvals for balloon-expandable stents and its high usage in angioplasty procedures.
The major market players of the global vascular stent market are:
- Abbott Laboratories
- Boston Scientific Corporation
- Medtronic Plc
- Microport Scientific Corporation
- TransluminaGmbh
- Others
These companies use various strategies such as merger & acquisition, collaboration, partnership, product launch, etc.whereas, product launch is the key strategy adopted by the companies in the global vascular stent market.
For example: In 2017, Medtronic Plc. launched resolute Onyx drug-eluting stent. It uses core wire technology in which radiopaque inner core is incorporated within cobalt alloy wire. It enhances the visibility for accurate stent placement. This is used in the treatment of vascular diseases.
In 2016, Abbott Laboratories announced launch of GT1 Bioresorbable Vascular Scaffold System (BVS). It is the first absorbable stent for the treatment of coronary artery disease, approved bt the U.S. Food and Drug Administration (FDA). Its development is expected to promote the market growth.
Key reasons to buy the report:
- The report includes market estimation, forecast and analysis for the year 2016-2023.
- Report includes detailed analysis of different segments such as type, product, mode of delivery, material and end users.
- Identify and understand the strength, challenges, opportunities and threat of the market during the forecast period.
- Covers detailed analysis of Porters 5 force model and other strategic models. Also covers revenues, market share analysis, and competitive landscape analysis of major players.
- Detailed analysis of various regulatory policies which are affecting the global vascular stentmarket during the forecast period.
How are we different from others:
At Occam’s we provide an extensive portfolio which is comprehensive market analysis along with the market size, market share, and market segmentations. Our report on the global vascular stentmarket offers detailed analysis of strategic models such as investment vs. adoption model, see saw analysis and others strategic models. Also, the report contains the detailed analysis of application, adoption scenario and decision support for each segment. The report discusses competitive landscape of the global vascular stent market, with giving extensive SCOT analysis of key companies.
Key findings of the global vascular stent market:
- Rising prevalence of vascular diseases among geriatric population promotes the market growth during forecast period.
- North America is expected to dominate vascular stent market during the forecast period.
- Balloon expandable stents segment is expected to be the fastest growing segment during the forecast period.
- Product launch is the key strategy adopted by the companies in the global vascular stent market during the forecast period.