The world stent market is estimated generate a revenue of $16,666 million by 2022. The growth in the world stents market is primarily attributed the rising geriatric population, where more susceptible strokes and require a stent implant for treatment, technological advancements in stents, increased adoption rate of these devices, and increased risk of restenosis in patients undergoing angioplasty. In addition, unhealthy diet habits and lack of necessary physical activity lead the development of cardiovascular diseases, and hence increase the need for percutaneous coronary interventions. Conversely, stringent government regulations for the approval of stents as they are highly specific devices and high cost of stent implant procedures are factors restraining the market growth.
A stent is a metallic or a polymer tube implanted in the lumen of any blood vessel or a duct in order keep the passage open. A variety of stents for different clinical conditions are available in the market. A stent implant is most commonly used for the treatment of cardiac abnormalities such as blocked blood vessels. In addition, stents are implanted in the esophagus tallow the passage of food and beverages in patients suffering from esophageal cancer.
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They are also inserted in the ureter prevent obstruction of urine flow from kidney, in the gall bladder tallow passage of bile in patients suffering from gall bladder cancer, and in the abdomen & gastrointestinal tract. They are generally made of metals, polymers, and natural bio-absorbable materials.
The report segments the world stents market based on product type, material, and geography. Based on product type, it is categorized in coronary stents and peripheral/vascular stents. Mainly three types of coronary stents are used, namely, drug-eluting stents, bare metal stents, and bio-absorbable stents. Out of these, endothelial progenitor cell capture stent, a type of drug-eluting stent, is preferred over the others as it uses the latest technology and prevents stent thrombosis. Coronary stents was the highest revenue-generating and fastest growing segment in 2015, registering a CAGR of 9.5% during the analysis period, owing increasing advances in the field of interventional cardiology coupled with the progress of minimally invasive techniques.
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Based on material, the market is segmented in metallic biomaterials, polymer biomaterials, and natural biomaterials. Among these, metallic stents segment generated the highest revenue in 2015 and natural biomaterials segment is estimated grow at fastest CAGR of 10.5% from 2016-2022.
Based on geography, the market is divided in North America, Europe, Asia-Pacific, and LAMEA regions. Asia-Pacific is expected continue dominate due rise in the geriatric population, favorable reimbursement rates, and rise in the prevalence of chronic disorders even among younger population. LAMEA is expected emerge as the area with maximum growth potential, owing the presence of high unmet medical needs and constantly improving healthcare infrastructure cure cardiac disorders, hem-dialysis, and other clinical conditions which lead constriction of blood vessels. Huge investments in developing nations by key players results in market growth owing the rapidly growing aged population.
The world stents market is segmented based on product type, material, and geography.
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