Vascular Stents Market

Vascular Stents Market Size:

The global vascular stents market size reached US$ 10.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 17.1 Billion by 2032, exhibiting a growth rate (CAGR) of 5.3% during 2024-2032. The market is experiencing steady growth driven by the increasing prevalence of cardiovascular diseases, such as coronary artery and peripheral artery, demographic shift towards an aging population, and development of new materials, designs, and coatings to enhance the performance and safety of vascular stents.

Vascular Stents Market Analysis:

• Market Growth and Size: The market is witnessing moderate growth, which can be attributed to the increasing prevalence of cardiovascular diseases. In addition, the rising adoption of unhealthy lifestyles among individuals is propelling the growth of the market.
• Technological Advancements: Innovations are leading to the development of advanced drug-eluting stents, which is enhancing the overall outcome. Moreover, the adoption of minimally invasive (MI) techniques to improve the stenting procedure is supporting the growth of the market.
• Industry Applications: Vascular stents are used in coronary arteries, peripheral arteries, and other vascular areas. Besides this, they are vital in restoring blood flow and preventing complications, which is positively influencing the market.
• Geographical Trends: North America leads the market on account of its well-established healthcare infrastructure. However, Europe is emerging as a fast-growing market, driven by the growing aging population.
• Competitive Landscape: Key players in the market are actively engaged in several strategic initiatives to maintain their competitive edge. They are collaborating with healthcare institutions and physicians to conduct clinical trials and gather real-world data on stent performance, which is impelling the market growth.
• Challenges and Opportunities: While the market faces challenges, such as regulatory hurdles for market players in terms of approvals and compliance, it also encounters opportunities in catering to the growing demand for stents in developing regions.
• Future Outlook: The future of the vascular stents market looks promising, with technological advancements, coupled with an aging population.
   

Vascular Stents Market Trends:

Rising incidences of cardiovascular diseases

The increasing prevalence of cardiovascular diseases, such as coronary artery disease and peripheral artery disease, is strengthening the growth of the market. These conditions are rising worldwide due to sedentary lifestyles, unhealthy diets, and an aging population. Vascular stents play a crucial role in the treatment of these diseases by restoring blood flow to blocked or narrowed arteries. With numerous people affected by cardiovascular ailments, the demand for vascular stents is growing around the world. As healthcare providers and patients are seeking effective and minimally invasive (MI) solutions, there is a rise in the demand for vascular stents. This factor underscores the importance of stent technologies and their pivotal role in addressing the healthcare needs of a population with an increasing burden of cardiovascular disorders.

Aging population and increased longevity

The demographic shift towards an aging population is propelling the growth of the market. Elderly people are more susceptible to age-related conditions, including atherosclerosis and other vascular diseases. Vascular stents, especially drug-eluting and bioabsorbable varieties, are becoming vital in managing these conditions effectively in older adults. Longer life expectancy, coupled with advancements in healthcare, is leading to a higher prevalence of chronic diseases that affect blood vessels. Vascular stents offer a minimally invasive (MI) solution for improving blood flow and reducing the risk of complications in elderly patients. Healthcare systems are adapting to meet the healthcare needs of aging populations, and vascular stents play a crucial role in this effort.

Technological advancements and product innovations

Manufacturers are consistently developing new materials, designs, and coatings to enhance the performance and safety of vascular stents. In addition, technological advancements are leading to the development of drug-eluting stents (DES) and bioabsorbable stents, which offer improved patient outcomes by reducing restenosis and minimizing long-term complications. Additionally, innovations in stent delivery systems and minimally invasive (MI) procedures are making stent placement safer and more efficient. In line with this, research and development (R&D) activities are resulting in enhanced vascular stents that can provide safer and more effective treatment options for vascular diseases. Moreover, the growing demand for stents that are tailored as per specific patient needs, contributing to better clinical outcomes is offering a favorable market outlook.

Prevalence of diabetes and obesity

The increasing prevalence of diabetes and obesity is bolstering the growth of the market. Diabetes and obesity lead to cardiovascular diseases, including atherosclerosis, which often necessitates the use of vascular stents for treatment. Diabetes can also lead to the development of coronary artery disease and peripheral artery disease due to elevated blood sugar levels and associated complications. Similarly, obesity is linked to the accumulation of plaque in blood vessels, increasing the likelihood of arterial blockages that require intervention. Moreover, healthcare providers rely on stents to manage the complex vascular issues arising in individuals with diabetes and obesity, thereby contributing to the growth of the market.

Vascular Stents Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global and regional levels for 2024-2032. Our report has categorized the market based on product type, material, mode of delivery, and end-user.

Breakup by Product Type:

• Coronary Stents 
• Peripheral Vascular Stents
• EVAR Stent Grafts
   

Coronary stents account for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the product type. This includes coronary stents, peripheral vascular stents, and EVAR stent grafts. According to the report, coronary stents represent the largest segment as these stents are specifically designed to treat blockages and narrowing in the coronary arteries, which supply blood to the heart muscle. They are crucial in the management of coronary artery disease, a leading cause of cardiovascular morbidity and mortality worldwide. Advancements in coronary stent technologies, including drug-eluting stents, are improving patient outcomes, which is impelling the market growth.

Peripheral vascular stents are designed to treat blockages and stenosis in arteries outside the heart, typically in the lower extremities, neck, and renal arteries. This segment addresses the needs of patients suffering from peripheral artery disease (PAD), a condition that affects blood flow in the limbs and organs. Minimally invasive (MI) procedures involving peripheral stents are gaining traction, providing a less invasive option for patients.

EVAR stent grafts are specialized devices used to treat aortic aneurysms. These stent grafts are deployed within the aorta to reinforce the weakened vessel wall, reducing the risk of aneurysm rupture. They also offer a less invasive alternative to open surgical procedures for managing aortic aneurysms, leading to quicker patient recovery and lower post-operative complications.

Breakup by Material:

• Metallic Stents
  • Cobalt Chromium
  • Platinum Chromium
  • Nickel Titanium
  • Stainless Steel
• Others
   

Metallic stents hold the largest share in the industry

A detailed breakup and analysis of the market based on the material have also been provided in the report. This includes metallic stents (cobalt chromium, platinum chromium, nickel titanium, and stainless steel) and others. According to the report, metallic stents account for the largest market share as these stents are primarily made from materials like stainless steel, cobalt-chromium, and nitinol, known for their durability and biocompatibility. They can be further classified into bare-metal stents (BMS) and drug-eluting stents (DES), wherein bare-metal stents are uncoated and provide structural support to keep arteries open, while drug-eluting stents are coated with medications that are slowly released to prevent restenosis or the re-narrowing of the treated artery. In addition, metallic stents are used in the treatment of coronary artery disease and peripheral artery disease, offering reliability and efficacy.

Breakup by Mode of Delivery:

•  Balloon-Expandable Stents
•  Self-Expanding Stents
   

Balloon-expandable stents represent the leading market segment

The report has provided a detailed breakup and analysis of the market based on the mode of delivery. This includes balloon-expandable stents and self-expanding stents. According to the report, balloon-expandable stents represent the largest segment.

Balloon-expandable stents are designed to be implanted using an angioplasty balloon catheter. When the stent is in the desired position within the artery, the balloon is inflated, causing the stent to expand and press against the arterial wall, keeping the vessel open. Balloon-expandable stents are widely used in coronary interventions and are preferred in situations where precise placement and control over stent deployment are critical. Their ability to provide accurate sizing and positioning within the vessel, contributing to successful procedures and improved patient outcomes.

Self-expanding stents are designed to expand automatically when deployed. They are typically made from materials with shape memory properties, such as nitinol, which allows them to self-expand and conform to the shape of the vessel. This segment of the market is particularly suitable for use in peripheral arteries and anatomical locations where precise placement can be challenging with balloon-expandable stents. Self-expanding stents are also favored for treating vessels with varying diameters or tortuous anatomy.

Breakup by End-User:

• Hospitals and Cardiac Centers
• Ambulatory Surgical Centers
   

Hospitals and cardiac centers exhibit a clear dominance in the market

The report has provided a detailed breakup and analysis of the market based on the end-user. This includes hospitals and cardiac centers and ambulatory surgical centers. According to the report, hospitals and cardiac centers represent the largest segment.

Hospitals and cardiac centers serve as the primary hubs for complex cardiovascular procedures and interventions, including the implantation of vascular stents. The comprehensive infrastructure and specialized cardiac teams in hospitals make them well-equipped to handle a wide range of cases, ranging from emergency cardiac procedures to elective stent placements. Additionally, hospitals often have access to the latest technologies and equipment required for stent implantation and follow-up care, which further strengthens their position as the dominant end-users of vascular stents.

Ambulatory surgical centers (ASCs) are a growing segment in the market. These facilities offer outpatient surgical procedures, including vascular stent placements, in a more streamlined and convenient setting compared to traditional hospitals. ASCs are gaining traction due to their ability to provide cost-effective and patient-centered care. They are particularly suitable for less complex cases and elective procedures, allowing patients to undergo stent implantation and return home on the same day.

Breakup by Region:

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America
   

North America leads the market, accounting for the largest vascular stents market share

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. According to the report, North America accounts for the largest market share as the region benefits from a well-established healthcare infrastructure, high medical expenditure, and the increasing prevalence of cardiovascular diseases. The United States plays a pivotal role in driving the market growth, with a substantial patient population and extensive research and development (R&D) activities in the field of vascular stents. The presence of key market players and a focus on technological advancements are contributing to the growth of the market in the region.

Europe is another prominent region in the market, characterized by advanced healthcare systems and a growing aging population. Countries like Germany, France, and the United Kingdom are at the forefront of stent adoption. European regulations ensure rigorous product approvals and safety standards, fostering trust in stent technologies. Besides this, increasing preferences for minimally invasive (MI) treatment options is propelling the market growth across the region.

Asia Pacific represents a region with significant growth potential in the market. The increasing incidence of cardiovascular diseases in countries like India and China, coupled with expanding healthcare access, is catalyzing the demand for vascular stents. Moreover, advancements in healthcare infrastructure and rising awareness of minimally invasive (MI) procedures are strengthening the market growth in this region.

The Middle East and Africa exhibit a growing demand for vascular stents due to changing lifestyles and improvements in healthcare infrastructure. While the market in this region is relatively nascent, it is poised for development as healthcare systems are evolving and the need for vascular stent interventions is becoming more pronounced.

Latin America is another emerging market due to the growing healthcare investments and presence of both multinational and regional stent manufacturers, contributing to the market growth. As healthcare access is improving and awareness about vascular stent treatments is increasing, there is a rise in the demand for vascular stents in the region.

Leading Key Players in the Vascular Stents Industry:

Key players in the market are actively engaged in several strategic initiatives to maintain their competitive edge. They are investing in research and development (R&D) activities to introduce innovative stent technologies, including drug-eluting stents with advanced coatings to minimize restenosis rates and bioabsorbable stents that dissolve over time. Additionally, companies are expanding their geographical presence by entering emerging markets in Asia-Pacific and Latin America, where the demand for vascular stents is rising. Collaboration with healthcare institutions and physicians to conduct clinical trials and gather real-world data on stent performance is also increasing, aiming to demonstrate the effectiveness of their products. Overall, key players are committed to advancing vascular stent technology, expanding their market reach, and ensuring patient outcomes are improving.

The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

• Medtronic Plc
• Abbott Laboratories
• Boston Scientific Corporation
• Biotronik Se & Co. Kg
• Braun Melsungen Ag
• Terumo Corporation
• Microport Scientific Corporation
• Meril Life Sciences Pvt. Ltd.
• Vascular Concepts Limited
• C.R. Bard, Inc.
• W.L. Gore and Associates, Inc.
• Endologix, Inc.
• Lombard Medical
• Translumina Gmbh
• Jotec Gmbh
   

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Latest News:

• May 13, 2022: Medtronic Plc, a global leader in healthcare technology, announced that it has received U.S. Food and Drug Administration (FDA) approval for the Onyx Frontier™ drug-eluting stent (DES). As the latest evolution in the Resolute DES family, Onyx Frontier DES leverages the best-in-class stent platform, with an enhanced delivery system designed to improve deliverability and increase acute performance in even the most challenging of cases.
• October 6, 2021: Boston Scientific Corporation announced positive data for the Eluvia™ Drug-Eluting Vascular Stent System (Eluvia stent) during a late-breaking clinical trial presentation at the Vascular InterVentional Advances (VIVA) meeting in Las Vegas. This data demonstrated superiority of the Eluvia stent compared to self-expanding bare metal stents (BMS) for the treatment of patients with peripheral artery disease (PAD) and superficial femoral artery (SFA) or popliteal artery (PPA) lesions up to 210 mm in length.
• December 17, 2020: MicroPort NeuroTech Co., Ltd., a subsidiary of MicroPort Scientific Corporation, developed the Bridge® Vertebral Drug-Eluting Stent, which received a registration certificate issued by China’s National Medical Products Administration (NMPA) for the treatment of symptomatic vertebral artery stenosis.

Vascular Stents Market Report Scope:

Key Questions Answered in This Report:

• How has the global vascular stents market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global vascular stents market?
• What is the impact of each driver, restraint, and opportunity on the global vascular stents market?
• What are the key regional markets?
• What is the breakup of the market based on the product type?
• Which is the most attractive product type in the vascular stents market?
• What is the breakup of the market based on the material?
• Which is the most attractive material in the vascular stents market?
• What is the breakup of the market based on the mode of delivery?
• Which is the most attractive mode of delivery in the vascular stents market?
• What is the breakup of the market based on the end-user?
• Which is the most attractive end-user in the vascular stents market?
• What is the competitive structure of the market?
• Who are the key players/companies in the global vascular stents market?

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the vascular stents market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global vascular stents market.
• The study maps the leading, as well as the fastest-growing, regional markets.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the vascular stents industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.