The increasing number of angioplasty procedures; rising
burden of vascular diseases, such as coronary artery disease (CAD), peripheral
artery disease (PAD), and aortic aneurysm; increasing demand for minimally
invasive procedures; and the launch of advanced vascular stents by major
companies are the major factors driving the growth of the vascular stents
market. Moreover,
the development of bioresorbable vascular scaffolds (BVS) and expansion in
emerging markets are expected to offer potential growth opportunities to
market players in the coming years.
Key players operating in this market are focusing on strategies such as product
launch and product enhancements; partnerships, collaborations, and contracts;
expansions; acquisitions; and certifications.
The Vascular Stents Market is segmented
based on product, type, material, mode of delivery, end user, and region. Based
on product, the market is segmented into
coronary stents, peripheral vascular stents, and EVAR (endovascular aneurysm
repair) stent grafts. Peripheral stents are
further segmented into carotid stents, renal stents, iliac stents,
femoral/fem pop stents, and other stents
(peroneal artery stents, tibial artery
stents, infrapopliteal stents, and
biliary stents). EVAR stent grafts are further
segmented into abdominal aortic aneurysm stents and thoracic aortic
aneurysm stents. Coronary stents accounted for the largest share of the
vascular stents market in 2016. The large share of this segment can primarily be attributed to the high incidence of coronary
artery disease and the subsequent growth in the number of PCI procedures.
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Based on type, the vascular stents market is segmented into bare-metal stents,
drug-eluting stents, and bioabsorbable stents. The bioabsorbable stents segment
is expected to register the highest growth during the forecast period. These
stents help restore normal vasomotion, improve abnormal endothelial function,
and lower the risk of complications, such as thrombosis and inflammation. Considering
these advantages, the demand for bioabsorbable stents is high among end users.
Based on the mode
of delivery, the vascular stents market is
segmented into balloon-expandable stents and self-expanding stents. The balloon-expandable
stents segment is expected to grow at the highest CAGR during the forecast
period primarily due to the high utilization of these stents in angioplasty
procedures. Moreover, the increasing research activities focusing on improving
the balloon-expandable stent technology, coupled with the regulatory approvals
for balloon-expandable stents, are expected to support the growth of this
segment in the coming years.
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The Asian market
is expected to register the highest growth during the forecast period. Factors
such as the large population base, growing prevalence of cardiac diseases, low
manufacturing costs for medical devices, and rising adoption of advanced
technologies are expected to drive the growth of the Asian vascular stents
market.
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