The
growth of this market is majorly driven by the technological advancements in
stents, increasing number of angioplasty procedures, rising burden of vascular
diseases, increasing demand for minimally invasive procedures, and rising
geriatric population. However, the presence of alternative treatment methods
for vascular diseases, stringent regulations for product approval, and numerous
cases of product failure and product recalls are expected to restrain the
growth of the vascular stents market during the forecast period of 2016 to
2021.
The global Vascular Stent Market is projected to reach USD 17.68 billion by 2021 from USD 12.21 billion in 2016, at a CAGR of 7.7% during the forecast period.
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This
report segments the vascular stents market based on product, type, mode of
delivery, material, end user, and region. Based on type, the market is
segmented into bare-metal stents, drug-eluting stents, and bioabsorbable
stents. The drug-eluting stents segment is expected to account for the largest
share of the vascular stents market in 2016. This can primarily be attributed
to the advantages of drug-eluting stents over bare-metal stents, such as lower
risk of restenosis and other related complications. 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
growing regulatory approvals for balloon-expandable stents and the high usage
of these stents in angioplasty procedures.
Based
on region, the vascular stents market is segmented into North America, Europe,
Asia, and the Rest of the World (RoW). North America was the largest market for
vascular stents in 2016. However, the Asian market is projected to register the
highest growth during the forecast period. Factors such as the large population
base, growing prevalence of cardiovascular diseases, rising adoption of
advanced technologies, and the low manufacturing costs for medical devices in
emerging Asian countries are expected to drive the growth of the Asian market
during the forecast period.
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Several
big and emerging players are operating in the vascular stents market, making it
highly fragmented. The key players operating in this market include Medtronic,
plc (Ireland), Abbott Laboratories (U.S.), Boston Scientific Corporation (U.S.),
BIOTRONIK SE & Co. KG (Germany), B. Braun Melsungen AG (Germany), Terumo
Corporation (Japan), STENTYS SA (France), MicroPort Scientific Corporation
(China), Meril Life Sciences Pvt. Ltd. (India), Vascular Concepts (India), W.
L. Gore and Associates (U.S.), C. R. Bard (U.S.), Endologix, Inc. (U.S.),
Lombard Medical Technologies (U.K.), Translumina GmbH (Germany), and JOTEC GmbH
(Germany).
