Vascular Stent Market by Type (BMS, BVS, Drug Eluting), Product (Coronary, Peripheral, Carotid, Femoral, Aortic Aneurysm), Material [Metal (Stainless Steel, PtCr, Nitinol), Polymer], End User (Hospital, Cardiology Center, ASC)- Global Forecast to 2021
The global vascular stents market is projected to reach USD 17.68 billion by 2021 from USD 12.21 billion in 2016, at a CAGR of 7.7% from 2016 to 2021.
Major factors contributing to the growth of the global vascular stents market include technological advancements, 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 treatments for cardiovascular diseases, stringent regulations for product approvals, and numerous cases of product failure and recalls are the major factors that are expected to restrain the growth of this market during the forecast period of 2016 to 2021.
Various companies are focusing on R&D activities to improve their vascular stent offerings. Companies like Abbott Laboratories and Boston Scientific are focusing on the development of biodegradable stents to offer effective products that overcome the complications caused by thrombosis [resulting from long-term device implantation]. For instance, in May 2014, Boston Scientific (U.S.) launched the Promus PREMIER Everolimus-eluting Platinum Chromium Coronary Stent System in Japan.
Currently, the vascular stents market is witnessing a new phase of technology development with the launch of fully dissolving stents. In July 2016, Abbott Laboratories (U.S.) received the U.S. FDA approval to commercially launch its Absorb bioresorbable heart stent. Absorb is the fully dissolving stent approved for the treatment of CAD. Furthermore, a number of bioabsorbable stents for treating PAD are in clinical trials. Some of these products include 480 Biomedical’s Stanza bioresorbable self-expanding scaffold [which is currently under SPIRIT trial and will be used to treat PAD for superficial femoral artery (SFA)] and the Esprit bioresorbable vascular scaffold (BVS) from Abbott Vascular [will be used in the treatment of PAD for SFA and iliac lesions].
The Asian market is estimated to register the highest growth during the forecast period. The high-growth in this regional segment can be attributed to the presence of a large population base, growing prevalence of vascular diseases, rising adoption of advanced technologies, and low manufacturing costs for medical devices in emerging Asian countries.
This market is categorized on the basis of product, type, mode of delivery, material, end user, and region. Apart from comprehensive geographical analysis, product analysis, and market sizing, the report also provides a competitive landscape that covers growth strategies adopted by industry players in the last three years. In addition, the company profiles comprise basic views on the key players and their product portfolios, developments, and strategies adopted. The above-mentioned market research data, current market sizes, and forecast of future trends will help key players and new entrants make informed decisions regarding product offerings, geographical focus, changes in strategic approach, R&D investments for innovations in products and technologies, and levels of output in order to remain successful.
Reasons to Buy the Report:
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help firms garner greater market shares. Firms purchasing the report can use any one or a combination of the below-mentioned five strategies for strengthening their market shares.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on the product portfolios of top players in the vascular stents market. The report analyzes this market by product, type, mode of delivery, material, end user, and region
• Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and new product launches in the vascular stents market
• Competitive Assessment: In-depth assessment of market strategies, geographical and business segments, and product portfolios of the leading players in the vascular stents market
• Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the market for vascular stents across regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the vascular stents market
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