Vascular Stents Market Will Reflect Significant Growth Prospects Forecast to 2030
Vascular stents are extensively used for artery diseases. The process being minimally invasive has gained quick mileage in the healthcare sector. Thus, a larger fraction of the patient population is expected to opt for it in the years to come. Market Research Future (MRFR) has conducted a recent study on the global vascular stents market for the forecast period. The assessment highlights the fact that the market is anticipated to mark a healthy CAGR of 7.8% over the assessment period.
The increasing burden of cardiovascular diseases (CVDs) is one of the major factors contributing to the expansion of the vascular stents market across the globe. It is anticipated to exhibit similar growth trend over the next couple of years. CVDs lead might slow down the flow of blood in arteries owing to the accumulation of calcium or cholesterol in them. These stents help in opening up the arteries to assure efficient blood flow system. These diseases cause thousands of deaths every year. Increasing awareness about diseases is likely to accelerate the revenue creation for the players of the neurovascular stents market over the next couple of years.
The adoption of unhealthy food pattern and a sedentary lifestyle has further aggravated the burden of artery diseases over the world. Increasing intake of cholesterol and fats, in conjunction with a lack of physical activities, has led to a drastic increase in the obese population.
The key players in the global vascular stents market profiled in this report for a detailed share analysis are Abbott Laboratories (US), Boston Scientific Corporation (US), Medtronic, Plc (UK), Biotronik SE & Co. Kg (Germany), Cook Medical (US), B. Braun Melsungen AG (Germany), Lombard Medical Technologies (UK), Cordis (US), Translumina GmbH (Germany), Terumo Corporation (Japan), MicroPort Scientific Corporation (China), Vascular Concepts (India), Meril Life Sciences Pvt. Ltd. (India), and W.L. Gore & Associates (US).
The MRFR report offers an inclusive segmental analysis of the global vascular stents market report based on end user, material, and type.
By Type, the global vascular stents market is segmented into evar stent grafts, peripheral stents, and coronary stents. Peripheral stents are again segmented into iliac artery stents, femoral artery stents, renal artery stents, carotid artery stents, and others. Evar stent grafts are again segmented into thoracic aortic aneurysm stents and abdominal aortic aneurysm stents. Of these, coronary stents will lead the market over the forecast period. Technological advances in coronary stents coupled with rising cases of coronary artery diseases are adding to the growth of the segment.
By Material, the global vascular stents market is segmented into polymers stents, ceramics stents, and metallic stents. Metallic stents are again segmented into stainless steel, nickel titanium, cobalt chromium, and platinum chromium. Of these, polymers stents will dominate the market over the forecast period for technological advances and surging use of bioabsorbable stents.
By End user, the global vascular stents market is segmented into ambulatory surgical centers, cardiac centers, and hospitals. Among these, hospitals will have lions share in the market over the forecast period. Expertise in the hospital, coupled with the accessibility of facilities for angioplasty procedures, is adding to the growth of the segment.
The global vascular stents market, on the basis of region, has been segmented into four key regions - North America, the Middle East and Africa (MEA), Europe, and Asia Pacific.
North America presently holds the dominant share of the global market. The regional segment is expected to maintain its leading position over the next couple of years. Increasing prevalence of cardiovascular diseases is the primary factor anticipated to catalyze expansion of the regional market. In addition, the rising obese population is expected to support the growth pattern of the vascular stents market in the region in the foreseeable future. Other factors projected to support market growth are rising healthcare expenditures, the sophistication of healthcare technology, etc.
Europe is also poised to demonstrate a healthy growth rate across the forecast period. The region is likely to witness a rising burden of cardiovascular diseases. This, in turn, is expected to favor market expansion. Asia Pacific is projected to expand at the highest CAGR over the review period owing to the rising patient population.
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