Global Stents Market Trends, Application and Regional Forecast to 2021-2027
Posted by James Grey on December 6th, 2021
Bharat Book Bureau Provides the Trending Market Research Report on “Stents Global Market - Forecast to 2027” under Life Sciences Market Research Reports Category. The report offers a collection of superior market research, market analysis, competitive intelligence and Market reports.
Stents are the miniaturized, flexible or expandable tube like structures used to widen and establish patency of the clogged vascular or non-vascular tubular structures and to ensure steady flow of body fluids through them. Compared to the traditional highly invasive surgical repair procedures, the current minimally invasive transcatheter therapeutic procedures with highly efficient, technologically advanced stent products assure patients and healthcare providers with improved efficiency, effectiveness and quicker restoration of the narrowed vessel’s or duct’s natural function.
As estimated by Bharat Book Bureau, the stents global market is expected to reach ,522.8 million by 2027 growing at a mid single digit CAGR from 2020 to 2027, due to increasing prevalence of various kinds of stenotic diseases and cerebral aneurysm across the globe, increasing demand for highly efficient, minimally invasive therapeutic products from the value centric patient population, the trend of coronary stent price slashing and increasing competitiveness of the domestic players in some of the major APAC countries, favorable reimbursement scenario in developed nations, emergence of technologically advanced stent products, persistently escalating geriatric population and the feasibility of even drug eluting stents (DES) in them and the numerous acquisitions and distribution agreements among the stent companies, developing healthcare infrastructural facilities and increasing demand for better healthcare services in the emerging markets. The stents market is segmented by product, material, application, end-users and geography.
Based on the product, the stents global market is segmented into bare metal stents, drug eluting stents (DES), bioresorbable stents and other stents consisting of covered stents and the non-drug eluting polymeric stents. Among these products, the drug eluting stents segment accounted for the largest revenue in 2020 and is expected to grow at a mid single digit CAGR from 2020 to 2027 due to increasing popularity and adoption of the highly efficient DES across the globe and the constant technological and engineering improvements in these stent products. Bioresorbable stents segment is the fastest emerging segment and is expected of growing at a low teen CAGR during the forecasted period due to increasing research and development activities for the development of highly efficient and safer biodegradable stents that will gradually disappear after improving the patency of the narrowed vessel or duct.
Based on the end-users, the stents global market is divided into Hospitals; Ambulatory surgery centers (ASCs) and others consisting of Freestanding or mobile Catheterization Labs and Research Institutes. Among the various end-users, Hospitals segment accounted for the largest revenue in 2020 and is expected to grow at a low single digit CAGR during the period 2020 to 2027 due to increased utilization of various types of stent products for the stenting procedures performed in the hospital associated in-patient or out-patient settings. Ambulatory Surgery Centers (ASCs) segment is the fastest emerging segment and is expected of growing at a mid single digit CAGR from 2020 to 2027.
Based on the region, the stents global market is segmented into North America (U.S. and Rest of North America), Europe (Germany, France, Italy and Rest of Europe), Asia-Pacific (Japan, China, India, and Rest of APAC) and Rest of the world (Brazil, Turkey, Rest of Latin America and Middle East & Africa). The major share of the stents global market is occupied by Asia-Pacific in 2020 and is expected to grow at a mid single digit CAGR from 2020 to 2027 mainly due to the persistently elevating prevalence of vascular and non-vascular stenotic conditions in the region, increasing affordability and accessibility of the major stent products like coronary stents among the patients of some of the major countries in the region attributed to government imposed price slashing measures for these life-saving devices, elevating geriatric population impaired with various kinds of vascular or non-vascular obstructive diseases, increasing patient awareness and demand for better, quick minimally invasive, efficient therapeutic procedures with advanced therapeutic products, growing economies of the region, persistently developing healthcare infrastructural facilities in the region, increasing healthcare expenditures and medical tourism aspects of the region. Rest of World (ROW) is the fastest emerging region and is expected of growing at a high single digit CAGR during the forecasted period. The rapid market growth rate of stents market in this region is due to escalating prevalence of vasculature and duct system associated obstructive conditions in the region, increasing geriatric population loaded with various kinds of stenotic conditions, increasing patient awareness and demand for better, quick minimally invasive therapeutic procedures and efficient therapeutic products, growing economies of the region, increasing per capita expenditure on healthcare needs and medical tourism prospects of the region.
The stents global market is consolidated with few companies dominating and occupying major share of the market. Some of the leading players in stents market are Boston Scientific Corporation (U.S.), Abbott Laboratories (U.S.), Medtronic PLC (Ireland), Terumo Corporation (Japan), Cook Medical LLC (U.S.), Cardinal Health Inc. (U.S.), Becton, Dickinson and company (U.S.), B. Braun Melsungen AG (Germany), Biotronik SE & Co.KG (Germany), Blue Sail Medical Co. Ltd (Biosensors International Pte Ltd) (China) and others.
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About the AuthorJames Grey
Joined: January 11th, 2021
Articles Posted: 460
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