Vascular Stent Market Size, Share, Growth, Forecast 2028

Industry Prospective:

The global vascular stent market was worth around USD 17.4 billion in 2021 and is estimated to grow to about USD 26.85 billion by 2028, with a compound annual growth rate (CAGR) of approximately 7.5 percent over the forecast period. The report analyzes the vascular stent market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the vascular stent market.

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Vascular Stent Market: Overview

The vascular stents market is projected to have a bright outlook owing to rising instances of cardiovascular diseases on a global scale. The human lifestyle has drastically changed over the course of the past few years and this has majorly changed the landscape of the vascular stent market.

Increasing instances of heart disorders, a rising geriatric population, increasing research and development in cardiovascular disease treatment, the increasing popularity of minimally invasive surgeries are expected to be prominent factors that govern the vascular stent market growth through 2028. The increasing popularity of minimally invasive surgeries is also expected to positively impact the vascular stent market potential for the given forecast period.

The presence of alternative treatment options and instances of treatment failures are expected to have a hindering effect on the vascular stent market growth.

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COVID-19 Impact:

The COVID-19 pandemic created an unprecedented healthcare emergency that the world never saw coming and took the world by shock like no other phenomenon anyone had imagined. All of the focus of the healthcare industry was on combating coronavirus infections and containing their spread and this has an adverse impact on the vascular stent market.

Amidst lockdown mandates, diagnostic procedures for cardiovascular diseases saw a declining trend as the availability of diagnostic and surgical procedures diminished completely under the huge wave of coronavirus infections. Restricted research and development activity also had a major restraining effect on the vascular stent market growth in 2020.

The market is expected to make a noteworthy comeback in the post-pandemic era as diagnostics for cardiovascular conditions increases and drive sales of vascular stents through 2028.

Vascular Stent Market: Growth Drivers

Increasing Prevalence of Cardiovascular Diseases

Instances of cardiovascular diseases have become a widespread phenomenon on a global scale and are majorly influencing vascular stent market growth through 2028. This can be attributed to changing lifestyle habits, rising stress, increasing geriatric population, etc., and these factors subsequently influence vascular stent market growth. Increasing research and development activities to understand these cardiovascular diseases is also expected to result in substantial advancements in the vascular stent marketplace over the forecast period.

Vascular Stent Market: Report Scope

Vascular Stent Market: Restraints

Product Failures to Constrain Vascular Stent Growth

The vascular stents market is expected to be majorly restrained by the failure of previously launched medical products. This factor creates suspicion around certain treatment procedures and negatively impacts vascular stent market growth and this is expected to be a major factor that hinders vascular stent market growth potential. Other factors such as the presence of alternative procedures and the long time for product approval by governing bodies also have a hampering effect on the global vascular stent market landscape over the forecast period.

The vascular stent companies are anticipated to invest in better research and development facilities to overcome these restraints and benefit from the complete vascular stent market potential over the forecast period.

Global Vascular Stent Market: Segmentation

The global vascular stent market is segregated based on type, mode of delivery, material, end user, and region.

By type, the market is divided into coronary stents, peripheral stents, carotid stents, renal artery stents, femoral stents, iliac stents, other peripheral stents, EVAR stent grafts, abdominal aortic aneurysm, thoracic aortic aneurysm, bare-metal stents, drug-eluting stents, bioabsorbable stents. The coronary stents segment is expected to continue its dominance over the forecast period and its large market share can be attributed to rising instances of coronary artery disease and rapid technological advancements in the vascular stent marketplace.

By end user, the vascular stent market is segmented into hospitals & cardiac centers, and ambulatory surgical centers. The hospitals & cardiac centers segment holds a major market share in the global vascular stent market landscape and is projected to maintain this stance through 2028. An increasing number of surgeries performed in hospitals are expected to boost vascular stent demand in this segment over the forecast period.

Recent Developments

• In August 2021 – SINOMED a leading name in the medical industry announced the European launch of HT Supreme® Drug-Eluting Stent (DES) and was kicked off with successful implantation at University Hospital Galway in collaboration with National University of Ireland Galway (NUI Galway) by Professor Faisal Sharif.

Competitive Landscape

Some of the main competitors dominating the global vascular stent market include - 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.

Regional Landscape

The market for vascular stents in North America held the largest market share and is anticipated to continue this dominant trend over the forecast period as well. The increasing geriatric population, growing instances of cardiovascular diseases, growing patient pool, increasing adoption of new technologies, and presence of key vascular stent companies are the major factors influencing vascular stent market growth in this region.

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Low manufacturing costs for the manufacturing of medical devices and increasing medical tourism are two major factors influencing vascular stent market growth in the Asia Pacific region. Emerging economies like India, China, Japan, and Indonesia in this region are expected to provide lucrative opportunities for vascular stent companies throughout the forecast period.

Vascular Stent Market: Competitive Analysis

The global Vascular Stent? market is dominated by players like:

• 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

Global vascular stent market is segmented as follows:

By Type

• Coronary Stents
• Peripheral Stents
• Carotid Stents
• Renal Artery Stents
• Femoral Stents
• Iliac Stents
• Other Peripheral stents
• EVAR Stent Grafts
• Abdominal Aortic Aneurysm
• Thoracic Aortic Aneurysm
• Bare-metal Stents
• Drug-eluting Stents
• Bioabsorbable Stents

By Mode of delivery

• Balloon-expandable Stents
• Self-expanding Stents

By Material

• Metallic Stents
• Cobalt Chromium
• Platinum Chromium
• Nickel Titanium
• Stainless Steel
• Other Stents

By End User

• Hospitals & Cardiac Centers
• Ambulatory Surgical Centers

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa