Stents Market, Analysis and Forecast through 2024

Preamble:

Stents are tiny but expandable metal or plastic mesh tubes, used for treating narrowed restrictions in our body, to keep the effected passageway(may be an artery, a blood vessel, an ureter or any other body part) open. Primarily, the process of inserting stent inside the body is called stenting.

In case of coronary heart disease, this stenting helps by-

• Treating heart attack
• Widening arterial constrictions and
• Reducing chest pain(Angina)

This whole intervention is called as percutaneous coronary intervention or angioplasty, which is overruling coronary artery bypass surgery owing to a somewhat less invasive surgery with minimal recovery time along with less trauma and pain as well.

Type of stents & their usage:

Major kind of stent is coronary, vascular and biliary type, but many other kind of stents as given below are also coming in limelight in present days.

• Coronary stents are inserted in the coronary arteries during a coronary angioplasty.
• Vascular stents are used in case of peripheral artery angioplasty.
• Ureteral stents are used in ureter passage in case of gall bladder stone or cancer.
• Prostatic stents are used in case of benign prostatic hypertrophy.
• Esophageal stents are used in case of esophageal cancer.

In current years, ultramodern technological advancements has deceased the risk of thrombosis in stenting procedures(especially drug eluting stents). This has played a pivotal role in boosting its popularity among cardiologists and patient pool for opting stent invasions in coronary and peripheral artery diseases (instead of the conventional balloon angioplasty).

Notable industry movements:

• Primary growth factor includes prevalence of cardiovascular diseases attributing to unhealthy lifestyle, increased consumption of alcohol among young generation, smoking and other usage of tobacco products, less physical activity, junk diet leading to obesity.
• This obesity is giving rise to diabetes and hypertension, another risk factor for chest pain and heart blockages.
• High blood cholesterol level and poor health of heart is also responsible for loosening of cardiac muscles, leading to ultimately heart failures.
• Rising cases of chronic diseases among developed and developing nations such as heart failures, esophageal cancer, gall bladder cancer and growing geriatric population are leading to demand for more stent implants.
• Technological advancements in stent systems (viz. invent of bioabsorbable stents) is further driving the stent market growth on a global basis. Many big players are also investing hugely into research and development for emerging new and useful products.
• To improve the social life ona mass basis, there is a noticeable rise in adoption of stenting procedures rather than the conventional one amongst doctors and consumers, boosting the stent market henceforth.
• However,strict legal and regulatory impediments for stents (since they are directly inserted inside the human body) are constraining the market growth.
• High costing of stent implants, particularly the drug eluting stents; can be notified as major hindering factors in developing nations.

Segmentation:

Global stent market can be segmented on the basis of product, material, end-user and geographical regions.

Geographically, stent market is segmented into North America, Europe, Asia- Pacific, LATAM, Middle East and Africa. North America is dominating the coronary stent market in recent years owing to rising cases of coronary artery diseases, hypertension, obesity and unbalanced lifestyle.

This dominance is followed by Europe; though Asia-Pacific countries are expected to overtake the stent market owing to huge population base, lenient approval procedures, and fast adoption of biodegradable stenting procedures in the coming forecast period.

MAJOR MARKET PLAYERS:

Abbott laboratories

Boston scientific. Inc.

Biotronik SE & Co. KG

B.Braun Melsungen AG

Biosensors International Group Ltd.

C.R.Bard, Inc.

Cook Medical

Elixir Medical Corporation

Hexacath

Kyoto Medical Planning

Microport Scientific Corporation

Stentys SA

Terumo Europe NV