Published: Nov, 2017
Transparency Market Research (TMR) observes that the competitive landscape in the global venous stents market is intensifying. The rise of venous disorders amongst the global population has urged several key players to develop better products. Key players such as Boston Scientific Corporation, C. R. Bard, Inc., Jotec GmBH, are Veniti, Inc. are making major investments in conducting clinical trials to understand the implications of their products. Such efforts are expected to lead to wide array of products to tackle difficult disorders in the near future, making the competitive scenario consumer-oriented.
Europe Leads as Patients Demand Minimally Invasive Surgeries
According to the research report, the global venous stents market was worth at US$750.00 mn in 2016 and is estimated to be worth US$1.72 bn by the end of 2025. During the forecast years of 2017 and 2025, the global market is anticipated to register a CAGR of 9.95%. Out of the various technologies available in the global market, the iliac vein stent technology is likely to surpass all others due to increasing incidences of obesity. In terms of regions, the global market will be dominated by Europe as the region boasts a strong presence of players and higher demand for minimally invasive procedures.
Launch of Innovative Products to Augment Growth
The global venous stents market has witnessed a steady rise in the recent years as the several vein-related diseases and disorders are being diagnosed. These tiny metallic tubes are inserted in veins to expansion in case of blockages. Venous stents are used for peripheral and central veins, depending the need. In recent years, the demand for venous stents has shot up due to the growing lifestyle diseases, obesity, and poor habits. A venous stenting procedure is typically performed to contain the peripheral venous hypertension amongst those suffering with symptomatic or chronic venous disorders.
The report suggests that the global market will be driven by the increasing investment of players in developing innovative products. Research and development toward launching innovative products is also projected to benefit the global market in the coming years. Furthermore, the persistent rise in chronic venous diseases has also been identified as an important growth driver the overall market. Additionally, shifting preference toward minimally invasive surgeries has also led to a spike in the demand for venous stents market. Surge in cardiovascular ailments that is being aided by stressful lifestyles will also augment the growth of the global market in the near future.
Poor Healthcare Infrastructure in Developing Economies Challenges Market Growth
On the flip side, the global market is likely to face some tough challenges as well. The high cost of stenting procedures and the lack of awareness about the possible consequences of narrowing arteries are likely to restrain the market from achieving its full potential in the near future. The poor medical and healthcare infrastructure in developing countries is also projected to hamper the overall market in the foreseeable future. Unsupportive reimbursement policies and poor insurance schemes are also expected to complicate growth for venous stents market in certain regions.
This review is based on Transparency Market Research’s report, titled “Venous Stents Market (Technology - Iliac Vein Stent Technology, and Wallstent Technology; Application - Leg, Chest, Abdomen, and Arm; Disease Indication - Chronic Deep Vein Thrombosis, Post Thrombotic Syndrome, May-Thurner Syndrome, and Hemodialysis/Arteriovenous Fistulae) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025”.
The Global Venous Stents Market has been segmented as given below:
Global Venous Stents Market, by Technology,
- Iliac Vein Stent Technology
- Wallstent Technology
Global Venous Stents Market, by Application,
Global Venous Stents Market, by Disease Indication,
- Chronic Deep Vein Thrombosis
- Post Thrombotic Syndrome
- May-Thurner Syndrome
- Hemodialysis/Arteriovenous Fistulae
Global Venous Stents Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa