Vascular stents market valued at USD12.21 billion in 2016
The global market for vascular stents was estimated at USD 12.21 billion in 2016 and is expected to reach USD 17.68 billion by 2021 growing at a CAGR of 7.7%.
Vascular stents include coronary, peripheral, carotid, femoral and aortic aneurysm stents. Major driver for this market is the increasing disease burden coupled with increasing demand for minimally invasive procedures. Other factors driving growth include technological advancements in stents, increasing geriatric population and disease awareness.
However, indirect competition from alternative treatment procedures, stringent regulations, product failure/recall, etc. are some of the aspects restraining the market growth. Of the three types of stents in the market i.e. bare-metal stents (BMS), drug-eluting stents (DES), and bioabsorbable stents, DES accounted for the largest share in 2016. This can be primarily attributed to the lower risk of restenosis with DES over BMS.
The balloon-expandable stents segment is anticipated to growth at higher CAGR than the self-expanding stents due to their increasing use in angioplasty procedures. North America has the largest market share for vascular stents in 2016. However, the factors such as large population base, rising technology adoption and low manufacturing costs are expected to drive the Asian market with highest growth during the forecast period.
The vascular market is highly fragmented with key players including Medtronic, Abbott Laboratories, Boston Scientific Corporation, Biotronik, B. Braun, Terumo Corporation, Stentys, MicroPort Scientific Corporation, Meril Life Sciences, Vascular Concepts, W. L. Gore and Associates, C. R. Bard (BD acquired), Endologix, Lombard Medical Technologies, Translumina and Jotec.
