Global Arterial Stents Market 2018 Product Types, Application and Specification 2025
The global arterial stents market is expected to grow from USD 8.62 Billion in 2017 to USD 16.58 Billion by 2025 at a CAGR of 8.61% during the forecast period from 2018-2025. North America market is expected to witness significant growth in the assessment period. This growth is witnessed in the wake of ample opportunities offered due to presence of large number of companies, favourable reimbursement facilities and development of innovative bio-engineered absorbable products led to the growth in the region.
Global Arterial Stents Market by Type (Bare-Metal Stents, Drug-Eluting Stents, Bio absorbable Stents), Mode of Delivery (Balloon-Expandable Stents and Self-Expanding Stents), Material, End User (Hospitals, Cardiac Centers), Regionâ?? and Global Forecast 2018-2025.
Major manufacturers include Abbott Laboratories, Medtronic, plc, Boston Scientific Corporation, B. Braun Melsungen AG, Biosensors International Group, Ltd., BIOTRONIK SE & Co. KG, Terumo Corporation, STENTYS SA, MicroPort Scientific Corporation (China), C. R. Bard, Inc., Meril Life Sciences Pvt. Ltd., Vascular Concepts, and Translumina GmbH, among others. New product launches, collaboration, mergers & acquisitions, and regional expansion are the key strategic initiatives undertaken by these industry players. For instance, in 2016, Abbott acquired St. Jude Medical, Inc., which is a manufacturer of products for heart failure, atrial fibrillation, and cardiac rhythm management. The acquisition has strengthened its coronary intervention product offerings in the cardiovascular devices market.
The type segment is classified into BMS, BVS and drug eluting. The BVS segment is dominating the arterial stents market with the market share of 39.41% in 2017. New product approvals are expected to increase the demand for BVS products. These products are aimed for young patient population. Material segment includes metal, polymer and copolymer. Polymer segment is expected to grow with the 10.37% CAGR in the forecast period due to cost effectiveness and minimal invasiveness during the procedure. The end user segment includes hospital, cardiology center and ASC. The hospital segment accounted for the largest share in 2017. Due to rising awareness of peripheral artery diseases, introduction of innovative stents and increasing healthcare expenditure are some of the key factors contributing for the growth of the market.
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Rising geriatric population and adoption of new techniques and minimally invasive procedures are leading in this industry, these are major factors driving the market. In addition to this, latest treatments are available in cardiac care to increase the life span of the elderly population. Stringent regulations regarding the approval of new products may hamper the growth of market. However, favourable reimbursement policies and technological advancements providing additional capabilities are boosting the growth of the market in future. For instance, Japanâ??s National Health Insurance system provides reimbursement for all medical devices.
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