Self-expandable Stents Market Scope and Opportunities Analysis 2018 - 2026

Posted by Pooja Mahajan on July 2nd, 2019

Self-expandable stents are special medical devices used for esophageal, tracheobronchial, duodenal, biliary, and colonic placement. Most of the stents are permanent and some are inserted in the body during palliative surgeries. Stenting helps in removing the blockages in the carotid artery that supplies blood to the brain. However, few stenting techniques increase the risk of both short- and long-term adverse outcomes. Carotid artery stenting is an optional procedure that can be used if a patient has 60% to 70% narrowing and has low risk of serious problems from stenting. Stents are configured into a cylinder by interwoven wires and are deployed from a constrained position within a delivery catheter.

Stent diameter as well as length vary in size due to increase in the duration of stent patency. Self-expanding stents vary in design, and many stents are preloaded with a drug delivery systems. The entire system of drug delivery through stents is advanced which is carried out using guidewires through endoscope channel and fluoroscopic guidance. Characteristics such as visibility of stents under X-ray, scaffolding design for more effective drug elution and easier deliverability, and conformity of the stent struts to the vessel walls are increasing the safety and efficacy of the devices. However, new developments in stents technology are paving the way for early diagnosis and treatment of cardiovascular diseases.

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High prevalence of diseases such as cardiovascular diseases and tracheoesophageal fistulas, large geriatric population with bypass surgery, rise in patient awareness programs, surge in research and development initiatives for heart diseases, increase in demand for diagnostic imaging devices are the key factors driving the global self-expandable stents market. According to the WHO, cardiovascular diseases are the leading cause of death globally. In 2016, cardiovascular diseases accounted for 37% of the 16 million deaths under the age of 70 years caused due to non-communicable diseases.

Advancement in technologies such as biochips, catheter implantation, strut design of stents, and increase in use of advanced software applications available for measuring the movement of stents during treatment are likely to fuel the growth of the global self-expandable stent market. However, ability to reposition and visibility under fluorescence light are expected to increase adoption of these devices for various surgical treatments in the near future.

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The global self-expandable stents market can be segmented based on product type, material, end-user, and region. In terms of product type, the market can be classified into gastrointestinal self-expanding stents, carotid self-expanding stents, endovascular self-expandable stents, and others. Carotid self-expandable stents is the fastest growing segment, driven by increase in prevalence of cardiovascular disease across the globe. According to the WHO, cardiovascular diseases accounted for 17.5 million deaths in 2012, representing 31% of all the global deaths. Of these, an estimated 7.4 million were due to coronary heart disease and 6.7 million due to stroke. Based on material, the global self-expandable stents market can be categorized into metal, polymer, and others. The metal segment can be divided into nitinol self-expandable stents, cobalt chromium self-expandable stents, and others. In terms of end-user, the market can be classified into ambulatory surgical units, hospitals, clinics, and others.

Geographically, the global self-expandable stents market can be segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America dominates the global self-expandable stent market due to sophisticated infrastructure with modern software modalities, patient awareness programs, and high per capita health care expenditure. Early-phase diagnosis and treatment of disease drives the medical devices market which in turn is expected to propel the self-expandable stents market in North America.

Europe is the second largest market for cardiac ultrasound transducers due to favorable government policies for health care infrastructure, high incidence of cardiac diseases, and awareness among the population. The market in Asia Pacific is expected to grow at a rapid pace due to increase in geriatric population, rise in prevalence of ischemic heart disease and gastroenterology disorders, changing lifestyle, surge in awareness among patients about cardiovascular diseases, and increase in per capita expenditure. Additionally, economic growth supports improvement of the health care infrastructure in developing countries such as India and China. Hence, these factors contribute to the growth of the self-expandable stents market in Asia Pacific.

Major players operating in the global self-expandable stents market include W. L. Gore & Associates, Terumo Corporation, Boston Scientific Corporation, Abbott, InspiredMD, Medtronic, Cordis (Cardinal Health), Cook Medical, CeloNova BioSciences, Inc., CONMED Corporation, and MicroPort Scientific Corporation.