Stent Market Research Report - Forecast to 2029 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Stent Market 
Industry / Sector Trends

Stent Market size was valued at USD 10.6 billion in 2018 and is expected to witness 6.5% CAGR from 2019 to 2025.

U.S.
Market Segmentation, Outlook & Regional Insights: Stent Market

Stent Market, By Type, 2018 & 2025 (USD Million)

Stent market is anticipated to witness lucrative growth over the forecast period. Increasing adoption of minimally invasive techniques, rising number of cardiovascular surgeries, hectic lifestyle coupled with rising geriatric population base will augment the market growth. Rise in adoption of sedentary lifestyle, increasing consumption of junk food and advancement in healthcare technology will further propel growth of the market.

However, stringent government approval procedure is one of the major reasons hindering the adoption rate of stent in developing as well as developed countries. Also, complications related to stent implantation will hamper the market growth in certain emerging regions.

Stent Market, By Technology

Germany Stent Market Share, By Technology, 2018

Drug eluting stents market is projected to expand at a CAGR of 6.4% over the projected period from 2019 to 2025. Drug eluting stents are designed to slowly release a drug to determine the cell proliferation and prevent fibrosis. Fibrosis along with clots can result in restenosis, blockage of the already stented artery is prevented by drug eluting stent, thereby stimulating segmental growth.

Bioresorbable stents market was valued at USD 2.0 billion in 2018 and is estimated to witness considerable growth in the future due to its property of getting absorbed in the body post procedure. Bare metal stents are the most economical option among the three hence projected to show promising growth during the forecast period.

Stent Market, By Mode of Delivery

Balloon expendable stent segment was valued over USD 7.5 billion in the year 2018. The segment is estimated to witness highest CAGR during the forecast period owing to better radial stiffness, high adoption rate and rising number of approvals for balloon-expandable stents from regulatory bodies.

Self-expandable stent market will witness 5.5% growth over the estimated period from 2019 to 2025. Self-expanding stents have ability to survive high strain levels and become a part of the anatomy unlike balloon expendable stent that may change the geometry of blood vessels should drive the business growth over the coming years.

Stent Market, By Material

Metal stent was valued over USD 8.5 billion in the year 2018. The segment accounted for largest market share in 2018 owing to lower cost as compared to polymer stents, high adoption rate and growing demand in the market.

Polymer stents market will witness more than 7.5% CAGR over the analysis period from 2019 to 2025. High growth of the segment is attributable to the biodegradable property of polymers such as polylactic acid, polycaprolactone, polycarbonates and others.

Stent Market, By End-use

Application of stent is largest in hospitals resulting in major market share. The hospitals segment accounted for over USD 8.0 billion revenue size in the year 2018. A substantial amount of surgical procedures are conducted in hospital settings with the budget of hospitals  being higher than other healthcare settings leading to largest market share in global market. The hospitals end-use segment will continue to account largest market share over the coming years, owing to increasing number of surgical procedures performed in hospitals coupled with rising supply agreements of stents between manufacturing firms and hospitals.

Ambulatory surgical centers held significant industry share in 2018 and is forecasted to expand at a healthy CAGR of 6.6% over the forecast period. Ambulatory surgical centers are the most preferred setting in developed countries leading to its growth. Others segment include private clinics and other similar establishments run by single or a group of doctors. The budget constraint of others segment leads to its lower market share in 2018. However, the segment will grow at lucrative rate over the forecast timeframe due to increasing number of private clinics and growing demand for stents.

Stent Market, By Region

Europe Stent Market, By Country, 2025 (USD Million)

U.S. dominated the global market in 2018 accounting for over USD 3.0 billion in the year 2018. High disposable income and various reimbursement policies allowing patients to opt for percutaneous coronary intervention procedures should drive U.S. stent market. Moreover, growing demand for minimally invasive medical devices and various reimbursement and insurance policies by Center for Medicare and Medicaid (CMS) will foster business growth in foreseeable years.

India stent market will witness rapid growth rate of more than 11.5% over the forecast period. The growth can be attributed to various government norms for controlling pricing of stents. For instance, in 2018, National Pharmaceutical Pricing Authority (NPPA) of India announced price capping of drug eluting stents. Pricing control leads to high adoption rate and rise in demand for stents leading to industry growth. Such, favorable government policies and increasing healthcare expenditure, will contribute to overall market growth.

Key Players, Recent Developments & Sector Viewpoints: Stent Market

Medtronic, Biotronik, Biosensors International Group, Boston Scientific, Abbott Laboratories, Terumo, C R Bard, B. Braun Melsungen AG, Meril Life Sciences, MicroPort Scientific Corporation and Elixir Medical Corporation are some of the major industry players operating in global market. The key industry players hold majority market share owing to better brand recognition and strong financial position. Major strategies implemented by these companies include new product launch, expansion strategy, acquisition strategy among others. For instance, in May 2017, Medtronic received U.S. FDA approval for launch of its Resolute Onyx Drug-Eluting Stent (DES). The strategy enabled company to expand its product portfolio as well as customer base resulting in strengthening of its market position.

Stent Industry Viewpoint

Stents have been used for percutaneous coronary intervention and peripheral vascular intervention since late 1980s and several upgradations has been done for optimal results. Coronary stents are used for treating coronary arteries while peripheral vascular stents are used for treating peripheral arteries. The industry is rapidly growing in both developed as well as developing economies owing to various technological advancements and increasing burden of cardiovascular disorders. Stent market will witness rapid growth in developing countries on account of changing government policies and increasing geriatric population base.

Demographic changes and adoption of sedentary lifestyle will result in high incidence of chronic diseases and escalate demand for cardiovascular procedures. Industry is witnessing large number of new entrants engaged in development of advanced miniaturized stents to generate higher revenue and consolidate their position in the market. Rising demand for minimally invasive surgical procedures and advancements in existing technologies will offer promising growth opportunities for the market in near future

Key Insights Covered: Exhaustive Stent Market

1. Market size (sales, revenue and growth rate) of Stent industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Stent industry.
3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Stent industry.
4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Stent industry.

Research Methodology: Stent Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.