Key Players in the Vascular Stents Market Adopted Product Launch & Product Enhancements as their Key Growth Strategy

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) are the major players in the vascular stents market. Product launch and product enhancements were the key strategies adopted by players operating in this market.

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Other players in this market include OrbusNeich (Hong Kong), Aachen Resonance GmbH (Germany), amg International GmbH (Germany), Arterial Remodeling Technologies (France), Bioabsorbable Therapeutics, Inc. (U.S.), Biosensors International Group, Ltd. (Singapore), Devax, Inc. (U.S.), Elixir Medical Corporation (U.S.), S & G Biotech (South Korea), InSitu Technologies Inc. (U.S.), Braile Biomédica (Brazil), Grinm Advanced Materials Co., Ltd. (China), Cook Medical (U.S.), Lifetech Scientific (Shenzhen) Co., Ltd. (China),  Eurocor GmbH (Germany), Fortimedix B.V (Netherlands), InspireMD (U.S.), Medinol Ltd. (Israel), Micell Technologies, Inc. (U.S.), Reva Medical, Inc. (U.S.), Sahajanand Medical Technologies Pvt. Ltd. (India), TriReme Medical Inc. (U.S.), Tryton Medical, Inc. (U.S.), eucatech AG (Germany), ICON Medical Corp. (U.S.), and XTENT, Inc. (U.S.).

Abbott Laboratories (U.S.) is the leading player in the vascular stents market. The company offers a robust product portfolio and has a strong geographic presence. Abbott focuses on continuous product development to maintain its leading position in the vascular stents market. For instance, in May 2015, the company received CE Mark for its Absorb GT1, a fully dissolving stent system. In March 2014, the U.S. FDA approved its Supera Peripheral Stent System.

Medtronic plc (Ireland) is one of the leading players in the vascular stents market. The company’s leading position can be attributed to its strong product portfolio and brand identity in the vascular stents market. The company mainly focuses on product launches and expansion to sustain its growth in the vascular stents market. Some of the recent products launched by the company include the EverFlex Self-expanding Peripheral Stent with Entrust Delivery System (July 2015) and Resolute Onyx Drug-Eluting Stent (DES) (November 2014).

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Companies are focusing on adopting organic and inorganic growth strategies to synergistically develop advanced products in the market. These strategies help market players to strengthen their product offerings, cater to the unmet needs of customers, increase their profitability, and expand their presence in the global market.

The overall growth strategies mapped from 2014 to 2017 include product approvals; product launches and enhancements; partnerships, collaborations, and contracts; expansions; acquisitions; and other developments such as certifications. Approvals, product launches, and enhancements accounted for the largest share of the overall strategic developments mapped in the above-mentioned period. 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), and MicroPort Scientific Corporation (China) are the companies that majorly adopted these strategies.          

Bioabsorbable Stents to Offer Lucrative Growth Opportunities in the Vascular Stents Market

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.