Global Arterial Stents Market: Snapshot
The global arterial stents market is rising due to the increasing prevalence of atherosclerosis and other arterial disorders along with introduction of innovative arterial stents such as bioresorbable stents. Furthermore, efficacy of arterial stents for the treatment of peripheral and coronary artery diseases and preference for minimally invasive procedures to unblock arteries and to improve blood flow are some other key factors driving the arterial stents market.
On the flip side, lack of well-equipped healthcare facilities and lack of well-trained interventional cardiologists in emerging economies are challenging the market’s growth.
A report by Transparency Market Research (TMR), projects the global arterial stents market to expand at a healthy 9.5% CAGR during the forecast period between 2017 and 2025. Progressing at this rate, the market which stood at US$8.0 bn in 2016 will become worth US$17.8 bn by the end of 2025.
Introduction of New Product Variants Makes Coronary Stents Dominant
The global arterial stents market is studied on the basis of product type, application, and region in this report. On the basis of product type, the arterial stents market is segmented into coronary stents and peripheral stents. The sub-segments of coronary stents include bare metal stents, drug-eluting stents, bioresorbable stents, and others. The others sub-segment within coronary stents include covered stents and dual-therapy stents. The peripheral stents segment is further classified into self-expanding stents, balloon-expanding stents, and others. The others sub-segment within peripheral stents comprise covered stents and drug-eluting stents.
Of them, coronary stents held the leading market share vis-à-vis revenue in 2016, the growth of this segment is attributed to the rising adoption of novel coronary stents such as bioresorbable stents by interventional cardiologists. Drug-eluting stents within coronary stents accounted for the leading revenue generation in 2016, and is likely to hold on to its dominant position over the forecast period. The growth of drug-eluting segment is due to development and incorporation of anti-restenotic agents to prevent the incidence of re-stenosis.
However, peripheral stents is likely to surpass coronary stents in terms of growth rate over the forecast period. This is mainly because of rising awareness of peripheral artery diseases and introduction of innovative stents by key players that are designed for femoral and popliteal arteries.
By application, the global arterial stents market is categorized into coronary artery, iliac artery, carotid artery, femoral and popliteal artery, and others. The others segment comprise below-the knee artery, renal and biliary artery, etc. Of them, coronary artery accounted for the leading revenue contribution in 2016, due to numerous players involved in the manufacture of coronary stents. Going forward, the coronary artery segment is likely to remain dominant until the end of 2025. However, femoral and popliteal artery is likely to display the leading CAGR over the 2017-2025 forecast period; this is owing to clinical research leading to improved access to deep rooted arteries such as femoral and popliteal.
Driven by Modernization of Healthcare Sector in China and India, Asia Pacific to Emerge as Key Market
Geographically, the global arterial stents market is segmented into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. Amongst all, in 2016, Europe held the leading market share in terms of revenue; this is mainly due to the strategic presence of key arterial stents manufacturers in Germany and the U.K. The rising preference for minimally invasive surgeries also account for the growth of Europe arterial stents market.
North America ranks as the second-leading market for arterial stents globally, and is likely to expand at a significant CAGR over the 2017-2025 forecast period. However, Asia Pacific is anticipated to display the leading CAGR over the forecast period as large business groups are investing substantially for the modernization of the healthcare sector in China and India.
Leading players operating in the global arterial stents market profiled in the report are Abbott Laboratories, Cordis Corporation, Boston Scientific Corporation, C.R. Bard Inc., Medtronic, Gore Medical, Cook Medical, Biosensors International Group Ltd., Lifetech Scientific, and BIOTRONIK AG.
Global Arterial Stents Market: Overview
This report on the Global Arterial Stents market analyzes the current and future scenario of the global market. Rise in private and public funding for R&D of novel arterial stents, increase in prevalence of coronary and peripheral arterial disease and their improved diagnosis are boosting the growth of the global arterial stents market. Improved access to the deep long arteries located in the iliac and femoral portion of the body, and availability of well-qualified interventional cardiologists in the developed countries are some of the factors expected to drive the growth of global arterial stents market during the forecast period.
Global Arterial Stents Market: Scope of Study
The arterial stents market report comprises an elaborate executive summary, which includes market snapshot that provides information about various segments. It also provides information and data analysis of the global market with respect to the segments based on product, application, and geography. A detailed qualitative analysis of drivers and restraints, and opportunities has been provided in the market overview section. Additionally, the section comprises exhaustive mapping of all the products & companies operating in the global arterial stents market, to help understand the competitive landscape in the market. Moreover, the global corporate scenario is provided in the report in terms of prominent mergers and acquisitions of arterial stent manufacturers. An overview of critical arterial diseases such as Coronary artery disease (CAD) and Peripheral artery diseases (PAD) in terms of their prevalence, diagnosis, symptoms, and treatment options are provided. This report also provides market attractiveness and its analysis in terms of geography and market share analysis by key players, thus presenting a thorough analysis of the overall competitive scenario in the global arterial stents market. The volume forecast and analysis along with the pricing scenario at global level has also been provided in brief for better understanding of the arterial stents market.
Global Arterial Stents Market: Market Segmentation
Based on the product type, the global arterial stents market is segmented into coronary stents and peripheral stents. The coronary stents are further classified into bare metal stents, bioresorbable stents, drug-eluting stents and others. The others segment is comprised of dual therapy stents, covered stents. The peripheral stents segment is further divided into self-expanding stents, balloon-expanding stents, and others (Drug-eluting stents, covered stents etc.). In 2016, coronary stents accounted for a highest market share. Drug-eluting stents sub-segment generated highest revenue in 2016, which is owing to the development and incorporation of anti-restenotic agents for drug-eluting stents, aimed at preventing the incidence of re-stenosis. The peripheral stents segment is anticipated to witness maximum CAGR by 2025, due to the high flexibility of self-expanding peripheral stents and usage of Co–Cr material in their design to impart radial strength. The market size and forecast for each of these segments have been provided for the period from 2015 to 2025, along with their respective CAGRs for the forecast period from 2017 to 2025, considering 2016 as the base year.
Different types of applications in the arterial stents market are coronary artery, carotid artery, iliac artery, femoral & popliteal artery, and others. The coronary artery segment dominated the market in terms of market share in 2016, and is expected to continue to lead the global market during forecast period. However, femoral & popliteal artery segment is likely to expand with relatively significant CAGR during 2017-2025, due to rising number of PCI procedures on femoral artery, as it is considered to be the most safe and accessible artery for stenting.
Geographically, the global arterial stents has been categorized into five major regions and the key countries in the respective region: North America (U.S. and Canada), Europe (U.K., Germany, France, Spain, Italy, and Rest of Europe), Asia Pacific (India, China, Japan, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin America) and Middle East & Africa (South Africa, GCC Countries, Israel, and Rest of Middle East & Africa).
Global Arterial Stents Market: Competitive Landscape
The report also profiles major players in the global arterial stents based on various attributes such as company overview, financial overview, product portfolio, business strategies, SWOT analysis, and recent developments. Major players profiled in this report include Abbott Vascular (Abbott Laboratories), Cordis Corporation (A Cardinal Health Company), Boston Scientific Corporation, C. R. Bard, Inc. (BARD Peripheral Vascular), Medtronic, Gore Medical, Cook Medical, Biosensors International Group, Ltd., Lifetech Scientific, and BIOTRONIK AG.
Global Arterial Stents Market has been segmented as given below:
Global Arterial Stents Market, by Product,
- Coronary Stents
- Bare Metal Stents
- Drug-eluting Stents
- Bioresorbable Stents
- Peripheral Stents
- Self-expandable Stents
- Balloon-expandable Stents
Global Arterial Stents Market, by Application,
- Coronary Artery
- Carotid Artery
- Iliac Artery
- Femoral & Popliteal Artery
Global Arterial Stents Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa