Published: Nov, 2018
According to the reports stated by Transparency Market Research, the global arterial stents market is expected to witness a remarkable growth in the years to come because of the rising number of geriatric population and their increasing arterial diseases. The competitive landscape of the arterial stents market is seen to be highly fragmented because of the presence of a large number of players. There are small as well as large players in the market who are all trying to bring up ways and means to draw more revenue towards their company name and ultimately have the lion’s share. However, international players have a stronger grip in the market and hence it is difficult for small players to establish their position in the market.
Prominent players of the global arterial stents market are Abbott Laboratories, Lifetech Scientific Corporation, Boston Scientific Corporation, Cook Medical, Gore Medical, and Medtronic plc. The presence of both small and large players in the global market urges small players to collaborate and use other merger and acquisition strategies in order to extend their geographical reach and gain a better position in the market. Players are also trying to focus on encouraging effective clinical trials so as to check people’s reactions to innovations and their preference as well.
As per the reports by TMR, the global arterial stents market is projected to be valued at US$17.8 bn by 2025 with a progressive CAGR of 9.5% within the forecast period of 2017 to 2025. As per segmentation by application, the coronary artery category is projected to dominate the market. This is because of the increase in the number of adoption of the new and unusual coronary stents like that of bioresorbable stents as suggested by the interventional cardiologists. As and when further classified, the drug-eluting stents of the coronary artery accounts for a major revenue share as per the previous records of 2016. It is estimated that this segment is more likely to continue dominating the global arterial stents market in the years to come
As per the segmentation based on geography, the global arterial stents market is prognosticated to be dominated by Europe as per 2016 records. This is owing to the fact that Europe had the base for key arterial stents production factories in U.K. and Germany. Adding to that, the increasing number of incidences of cardiac attack and the surging preference of minimally invasive surgeries as compared to the other methods of treatment has propelled the market for arterial stents in Europe.
Rise in Demand for Minimally-Invasive Treatment to Propel Market
There is a lot of demand for the increase number of incidences of numerous arterial disorders mainly atherosclerosis all over the world. Adding to that, the prevailing number of cardiovascular diseases are also adding a boost to the market since the rise in treatment facilities increases the demand for arterial stents in the market.
Another factor that is estimated to accelerate the global market for arterial stents is the surging demand for minimally-invasive treatments. This is prevailing among those patients who need to be operated for operating and widening their narrowed arteries. Moreover, the rising popularity of percutaneous coronary interventions within the coronary artery revascularization has also augmented the uptake of the arterial stents in many developing as well as developed regions, thus adding boost to the market.
Apart from that, with large number of business groups coming into the scenario, the market in Asia Pacific is expected to rise to its dominancy during the forecast period. Major players are investing huge sums for the betterment and modernization of the healthcare and medical sectors especially in the emerging nations of India and China. This is further expected to propel the market for arterial stents in the Asia Pacific region in future.
Lack of Interventional Cardiologists to Hamper Future Market Growth
The lack of skilled and professional interventional cardiologists who excel in deployment of stents in their patients may restrict the growth of the market in the long run. In addition, the lack of established medical infrastructure and healthcare facilities in developing nations that support minimally invasive treatment may hamper the overall market in the long run.
The information presented above is based on the findings of a research report, titled, “Arterial Stents Market (Product - Coronary Stents (Bare Metal Stents, Drug-eluting Stents, and Bioresorbable Stents) and Peripheral Stents (Self-expandable Stents and Balloon-expandable Stents); Application - Coronary Artery, Carotid Artery, Iliac Artery, and Femoral & Popliteal Artery) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017 – 2025”.
The global arterial stents market could be segmented based on the following segments:
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
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