Stents Market - Forecast(2024 - 2030)

Stents Market size is estimated to reach $15,790.2 million by 2026, growing at a CAGR of 5.2% during the forecast period 2021-2026. A stent is a short mesh tube that acts as a scaffold to help keep the artery open. It restores blood or other fluids, depending on where it is placed. Stent implants are commonly used to treat heart abnormalities such as blocked blood vessels. They are also inserted in the ureter to prevent obstruction of urine from the kidney, in the gall bladder to allow passage of bile in patients, in the abdomen & gastrointestinal tract among others. Stents are in great demand for diseases such as cardiovascular disease in elderly and middle-aged patients. The technological advancements in stents development also play a major role in market growth. The stents now are biodegradable as they completely disappear over time and decrease the risk associated with late stent thrombosis. The increasing prevalence of coronary artery diseases and peripheral artery diseases is estimated to boost the market growth over 2021-2026.

The report: “Stents Market Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the Stents Market.

By Product Type: Coronary, Peripheral, Biliary, Carotid, Neurovascular, and others.

By Material: Metallic, Polymer, and Natural.

By Geography: Americas, Asia-Pacific, Europe, and Rest of World.

The global Stents Market based on Product Type can be further segmented into Coronary, Peripheral, Biliary, Carotid, Neurovascular, and others. The Coronary Stent segment is the major segment generating revenue in 2020. This is owing to the high prevalence of cardiovascular diseases coupled with the growing technological advancements in coronary stents. The Carotid stent segment is estimated to register the fastest CAGR of 9.2% during the forecast period 2021-2026. This is owing to the rise in the prevalence of disorders such as ischemic stroke, peripheral vascular lesions leading the increasing demand of Carotid Stents in coming years.

The global Stents Market based on Material can be further segmented into Metallic, Polymer, and Natural. The Metallic segment registers for the highest market share in 2020. This is owing to the increasing demand for metallic stents across the globe. In addition, they lower the risk of restenosis and the other complications. Moreover, usage of bioresorbable metal vascular stents is increasing owing to its presence of alloys that degrades safely within the body. The Polymer segment is estimated to register the fastest CAGR for the period 2021-2026. This is owing to its cost-effectiveness. Furthermore, the use of non-metallic long-term stents for ureteral obstruction is driving the demand.

The global Healthcare Regulatory Affairs Outsourcing Market based on Geography, can be further segmented into the Americas, Asia-Pacific, Europe, and Rest of World. Americas registered for the highest revenue share of 36.76% globally in 2020 owing to the minimally invasive surgeries and increasing the population of the people suffering from CVD and other high-risk factor requiring stenting procedures. In addition, technological advancements in stent technologies during the past three decades, such as bifurcated stents and the use of biodegradable materials, have further augmented market growth. However, Asia-Pacific is estimated to outpace all the regions by clocking the highest CAGR during the forecast period 2021-2026 owing to the increasing usage of vascular stents for cardiovascular diseases, the introduction of new and cost-effective stents by the key players in this region.

Traditional stents manufactured from metal mesh remain permanently in the body or unless removed through surgical intervention but bioresorbable vascular scaffolds are biodegradable, therefore, they completely disappear over time, additionally, and the risk of the restenosis using metallic stents and the drug-eluting stent has elevated the need for bioabsorbable stents thereby driving the market. BVS drug elution avoids non-intimal proliferation compared to drug-eluting stents, and complete bio-resorption is consistent with late vessel lumen enlargement, plaque regression, and vasomotion, owing to which BVS is set to boost the market growth during the forecast period 2021-2026.

The recovery time for Percutaneous Coronary Intervention (PCI) is significantly less than the by-pass surgeries. It takes only a few days to recover from stenting, whereas bypass surgery takes more than six weeks or even longer to recover from it, which is likely to fuel the market growth. PCI can be performed in a shorter interval of time than the by-pass surgery as the stent is inserted into the body from the groin area or arm through a catheter. Owing to the lesser recovery time and in-hospital time, the adoption of stents for cardiovascular diseases is set to grow at a healthy rate for the period 2021-2026.

The PCI technique requires skilled surgeons for the placement of the stent at the required location. Moreover, it also requires advanced devices such as atherectomy devices, Fractional Flow Reserve, Intravascular Ultrasound, Optical Coherence Tomography (OCT) Imaging, Near-Infrared Spectroscopy (NIRS) to transfer the stent to the target site. Thus, skilled medical personnel is required to operate the equipment and surgeons to perform the procedure. The lack of large-scale availability of such equipment and skilled personnel in underdeveloped economies and developing economies is set to hinder the market growth during the period 2020-2026.

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Stents Market. Key companies of this market include Abbott Laboratories, B.Braun Melsungen AG, Boston Scientific, C.R Bard Incorporation, Cook Medical, Medtronic Plc, Biotronik, Elixir Medical Corporation, Stentys, and Terumo Medical Corporation.