Peripheral Stent Implants Market Analysis, Market Size, In-Depth Insights, Growth and Forecast 2031

Posted by Neha Patil on May 28th, 2024

The global peripheral stent implants market is set for remarkable expansion, according to the latest market research report published by [Your Company Name]. The report forecasts that the market size will nearly double between 2024 and 2031, reaching an estimated value of US.1 billion by 2031, up from US.9 billion in 2024. This surge reflects a notable compound annual growth rate (CAGR) of 8.9% during the forecast period.

The report provides a comprehensive overview of the factors driving this growth, citing key determinants such as continuous innovation in stent design, the increasing prevalence of chronic diseases, and the global trend towards minimally invasive procedures. These factors, coupled with an ageing population and technological advancements, are expected to fuel the demand for peripheral stent implants in the coming years.

A Look Back and a Look Forward

The period between 2019 and 2023 witnessed consistent growth in the peripheral stent implant market, attributed largely to an increase in peripheral artery disease (PAD) cases and a growing preference for minimally invasive procedures. As the elderly population prone to PAD grows and lifestyle diseases like diabetes and obesity become more prevalent, the demand for peripheral stent implants is expected to continue rising.

Key Growth Determinants

Technological Advancements: Continuous innovation in stent design, materials, and coatings has significantly improved the efficacy and safety of peripheral stent implants. Advancements such as drug-eluting stents and bioresorbable stents have widened the application spectrum, driving market growth.

Ageing Population and Prevalence of Chronic Diseases: The increasing prevalence of PAD and other vascular conditions, combined with a growing ageing population globally, fuels demand for peripheral stent implants as the incidence of conditions requiring vascular interventions rises.

Minimally Invasive Procedures: The shift towards minimally invasive procedures has led to increased demand for peripheral stent implants due to reduced trauma, shorter recovery times, and lower healthcare costs compared to traditional open surgeries.

Major Growth Barriers

Regulatory Challenges: Stringent regulatory approval processes, particularly in regions like the US and Europe, pose significant barriers to market growth by increasing time and cost associated with bringing new products to market.

High Costs and Reimbursement Issues: The high initial costs associated with peripheral stent implants and reimbursement issues create financial barriers for both healthcare facilities and patients, potentially limiting market growth.

Competition from Alternative Treatments: The market faces competition from alternative treatments such as balloon angioplasty and bypass surgery, which may be preferred in certain clinical scenarios, leading to market fragmentation.

Key Trends and Opportunities

Personalised Medicine: Recent advancements allow for the customisation of peripheral stent implants to individual patient anatomies and pathologies, enhancing treatment efficacy and minimising risks.

Shift Towards Bioresorbable Stents: Growing interest in bioresorbable stents as an alternative to traditional metallic stents is driven by their potential to reduce long-term complications.

Emerging Markets Expansion: Significant opportunities exist in emerging markets with rapidly growing healthcare infrastructure and increasing prevalence of cardiovascular diseases.

Regulatory Scenario's Impact

The regulatory environment significantly shapes the peripheral stent implants market by impacting product approvals, reimbursements, and innovation. While regulations ensure patient safety, they can also pose challenges for market expansion and innovation.

Fairfield’s Ranking Board

Top Segments:

• Drug Eluting Stents (DES): Offering excellent safety and performance, DES are currently one of the top-performing segments in the market, driven by their ability to prevent restenosis.
• Bare Metal Stents (BMS): Despite facing competition from DES, BMS remain significant due to their cost efficiency, durability, and ease of deployment.
• Covered Stents: Emerging as a promising segment, covered stents are effective in treating complex peripheral artery lesions.

Regional Frontrunners:

• North America: Dominates the market due to high PAD prevalence and advanced healthcare systems.
• Asia Pacific and Europe: Witnessing significant growth driven by rising PAD cases and improving medical infrastructure.

Leaders in Global Peripheral Stent Implants Space:

Key players include Abbott Laboratories, Boston Scientific Corporation, Medtronic plc, and others, who are driving innovation and market expansion through continuous research and development efforts.

View Market Insights : https://www.fairfieldmarketresearch.com/report/peripheral-stent-implants-market