A stent is a miniature wire mesh tube that is used to treat a blocked passageway to keep it open. The stent improves the blood flow or other fluids flow, subject to its location. The global stent market is estimated at USD7.98 billion in 2016 and is expected to grow at a CAGR of 3.4 percent over the next ten years. Overall stent market is shifting towards the adoption of biodegradable stents that dissolve completely in the blood vessels and eliminate the risk of thrombosis. The key factors driving the growth are growing the aging population, increasing the prevalence of chronic diseases such as metabolic diseases and heart disease, advancement in stent technology, preference for minimally invasive procedures. Vascular stents dominate the total stent market. Among the vascular stents, coronary stent holds the maximum market share due to the presence of major medical devices players, increasing research in cardiology, increasing number of cardiovascular procedures and research and development activities of the players. Neurovascular stents hold the huge potential for growth in the future and is expected to grow at a growth rate of 6 percent over the period 2016 to 2026.
Coronary stents are further classified as Bare Stents (BMS), Drug-Eluting Stents (DES), covered stents, and Bioresorbable Stents (BRS; non-drug eluting and drug-eluting BRS). BMS market is projected to decline over the forecast period at a rate of -3.8 percent due to advantages offered by advanced stent technology. DES has dominated the overall coronary stents market,however, BRS is expected to show the highest growth rate due to the unmet need for dissolvable stents. Unlike the coronary stent market in developing countries, which are still expanding, the coronary stent markets of developed regions are mature. Therefore, a company's success in these regions is determined by developing innovative products that offer significant advantages over the previous versions.
The global market for non-vascular stents is forecasted to grow at a rate of 4.2 percent over the forecast period due to increasing prevalence of Gastrointestinal Cancer, Prostate Cancer and Ureteral Diseases such as Kidney Stones, and Urinary Tract Infection.
North America dominates the overall stent market with 37 percent due to the presence of big players and early introduction of advanced technologies, favorable reimbursement policies and increased prevalence of chronic disease requiring stenting procedures. On the other hand, Asia-Pacific accounts for the maximum market share of coronary stent market owning to the large number of cardiovascular procedures done and the highest number of people suffering from chronic disease coupled with an aging population. Asia-pacific region is expected to maintain the market share over the forecast period despite the high cost of treatment, price cuts by governments and unfavorable reimbursement policies.
Abbott, Boston Scientific Corporation, Medtronic, Elixir Medical, Biotronik,and Terumo are the key players involved in the stent market. In 2016, Abbott, Boston Scientific,and Medtronic, accounted for a major market share of the coronary stent market and making it difficult for emerging players to enter this market.
Key questions answered and insights delivered in the report:
- Global market size of stent; 2016-2026.
- Market size of stentin North America, Europe and Asia specific; 2016-2026.
- Global Market size of vascular stent; 2016-2026.
- Market size of vascular stentin North America, Europe and Asia specific; 2016-2026.
- Global Market size of non-vascular stent; 2016-2026.
- Market size of non-vascular stentin North America, Europe and Asia specific; 2016-2026.
- Global Market size of peripheral stent; 2016-2026.
- Market size of peripheral stent in North America, Europe and Asia specific; 2016-2026.
- Global Market size of coronary stent; 2016-2026.
- Market size of coronary stent in North America, Europe and Asia specific; 2016-2026.
- Global Market size of neurovascular stent; 2016-2026.
- Market size of neurovascular stent in North America, Europe and Asia specific; 2016-2026.
- Product analysis of bare metal stents, drug eluting stents, and bioresorbable stents.
- Detailed analysis of growth drivers, challenges, and trends of stent market.
- Detailed Company Profiling of Key Market Players: Boston Scientific , Medtronic , Abbott, Terumo Corporation, and Elixir Medical.