According to Vision Research Reports, the global vascular stents market size was valued at US$ 7.7 Bn in 2019 and is projected to expand US$ 12 billion by 2027 with a CAGR of 5.2% from 2020 to 2027.
Rise in prevalence of cardiovascular diseases and increase in demand for minimally invasive surgeries are anticipated to drive the global vascular stents market from 2019 to 2027. North America is expected to account for a significant share of the global vascular stents market during the forecast period. Significant growth of the market in the U.S., owing to high consumption of interventional cardiology devices and continuous rise in number of patients with blocked arteries and other cardiovascular diseases, drive the market in the region. Rise in preference for minimally invasive treatment options, such as angioplasty and other percutaneous coronary intervention (PCI) procedures in the region, is expected to drive the vascular stents market in the region during the forecast period. The market in Asia Pacific is likely to expand at a high CAGR of 6% from 2019 to 2027. This can be attributed to rise in demand for vascular stents due to increase in cardiovascular diseases in the region.
Surge in Uptake of Technologically Advanced Coronary Stents to Propel Market
The global vascular stents market is responding positively to new and innovative coronary stents, with increasing uptake of technologically advanced coronary stents. Drug eluting stents (DES) are comparatively newer to bare metal stents (BMS) and have been able to capture the latter’s market share of the global vascular stents market to become market leader. Presently, bioresorbable stents are increasingly being prescribed by healthcare professionals due to their added benefits. This is expected increase the revenue share of the bioresorbable stents segment in the near future.
Various new and technologically advanced coronary stents are available in the market such as bioactive stents, biodegradable polymer based drug eluting stents, bifurcated BMS, and bifurcated DES. These stents have been able to penetrate such markets where BMS or DES were already established due to their advantages over traditional coronary stents. These stents have been clinically proven to cause no or minimum side effects of stenting such as in-stent restenosis, late-stent restenosis, thrombosis, and delayed antiplatelet therapy, which were prevalent in treatment with conventional stents.
Thus, a surge in uptake of technologically advanced coronary stents such as bioresorbable stents is expected to drive the demand for vascular stents during the forecast period.
Coronary Artery Stents to Dominate Market
In terms of type, the global vascular stents market has been divided into coronary artery stents, peripheral vascular stents, and neurovascular stents. Coronary artery stents segment is further categorized into bare metal stents, bioresorbable stents, covered stents, and drug eluting stents. Peripheral vascular stents segment is further divided into sub-segments, including fem-pop artery stents, iliac artery stents, and infrapop artery stents. The dominance of the segment can be attributed to rise in prevalence of coronary artery diseases across the globe.
According to the National Heart Foundation of Australia, coronary heart disease is a leading cause of death in Australia, affecting 1.2 million people each year. According to the European Heart Network, CVD causes 3.9 million deaths in Europe each year.
Self-expanding Stents to be Highly Attractive
In terms of delivery method, the global vascular stents market has been classified into balloon expandable stents and self-expanding stents. The self-expanding stents segment is likely to dominate the global vascular stents market during the forecast period due to increase in the usage of self-expanding stents. Self-expanding stents offer improved clinical outcomes, as they induce less injury at implantation and achieve better vessel wall apposition.
Cobalt-Chromium Stent to Account for Major Share
Based on material, the global vascular stents market has been categorized into cobalt-chromium stent, platinum-chromium stent, nitinol stent, stainless steel stent, and bioresorbable polymer stent. The cobalt-chromium stent segment is anticipated to constitute significant share of the global vascular stents market by 2027. Advantages offered by cobalt chromium, such as strength, non-ferromagnetism, biocompatibility, and high resistance to corrosion and fatigue are expected to increase the usage of cobalt chromium for stents during the forecast period. However, the bioresorbable polymer stent segment is expected to grow at a faster rate during the forecast period. Quality healing, advanced design, and outstanding safety offered by bioresorbable polymer stents are expected to drive the segment during the forecast period.
Asia Pacific Market to Expand Significantly
In terms of revenue, North America is projected to dominate the global vascular stents market from 2019 to 2027. North America’s prominent share of the global vascular stents market in 2018, due to the presence of higher number of people with cardiovascular diseases in the region. According to American Heart Association Research, between 2013 and 2016, 121.5 million adults in the U.S. had some form of cardiovascular disease. However, the vascular stents market in Asia Pacific is anticipated to expand at a relatively high CAGR during the forecast period. Factors, such as increase in the prevalence of coronary artery disease in Asia Pacific as compared to Western countries such as the U.S., Canada, and Germany, and increase in usage of metal stents for the treatment of coronary artery diseases, owing to advancement in efficacy and safety of new drug eluting stents, are expected to drive the vascular stents market in Asia Pacific during the forecast period.
The report also provides profiles of leading players operating in the global vascular stents market. These include Abbott Vascular (Abbott Laboratories), Cordis Corporation (A Cardinal Health Company), Medtronic, Boston Scientific Corporation, BIOTRONIK AG, Lifetech Scientific, C. R. Bard, Inc. (Becton, Dickinson and Company), Biosensors International Group, Ltd., Cook Medical, and W. L. Gore & Associates, Inc.
By Delivery Method
By End User
The Vascular stents market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Vascular stents market for the base year 2020 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Vascular stents market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Vascular stents market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Vascular stents market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Vascular stents capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Vascular stents by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by type segment of the global Vascular stents market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Vascular stents market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Vascular stents market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Vascular stents industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Vascular stents market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Vascular stents market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Vascular stents market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Vascular stents market. These factors have benefited the growth of the global market for Vascular stents. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Vascular stents. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Vascular stents are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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