Vascular stents: Key market research findings
- Growing preference for MI procedures to boost market growth
- Coronary stents to be the largest market segment
- Key vendors – Abbott Laboratories, Boston Scientific, Cook Medical, Cordis, Medtronic, and W.L. Gore & Associates
Technavio’s market research analysts expect the global vascular stents market to grow at a CAGR of more than 7% between 2016 and 2020. The growth in the market is driven primarily by the increase in the demand for minimally invasive (MI) procedures. MI procedures help prevent excessive blood loss and lessen the duration of recovery and hospital stay as well as reduce the need for blood transfusions and the risk of infections, cause less pain and scarring, and lead to a better clinical outcome. The Americas dominated the global vascular stents market in 2015 by accounting for a market share of over 44%. The ubiquity of diabetes, obesity, and hypertension in people coupled with the presence of prominent vendors in the US is expected to boost growth in the vascular stents market in the Americas by 2020.
The new market research report from Technavio presents a breakdown and analysis of the vascular stents segments based on the product type.
“Recently, there has been a rise in the emergence of bioabsorbable stents in the market. These stents restore blood flow by opening the clogged blood vessel and providing support until the damaged blood vessel is healed. As opposed to metallic stents, the body metabolizes bioabsorbable stents and entirely absorbs them over time,” says Barath Palada, Lead Analyst, Healthcare & Lifesciences, Technavio Research.
In 2015, the coronary stents segment was the dominant shareholder in the global vascular stents market. Coronary stents are tube-like structures that are implanted in the coronary artery, which supplies blood to the heart during percutaneous coronary intervention. These stents are made of metal mesh. An increase in the incidence of cardiovascular diseases, growing geriatric population, and availability of advanced treatment options are some of the factors that will contribute to growth in the global coronary stents market during the forecast period.
The key vendors in the market include Abbott Laboratories, Boston Scientific, Cook Medical, Cordis, Medtronic, and W.L. Gore & Associates. The global vascular stents market is highly fragmented and competitive due to the presence of numerous well-established suppliers in the market space. Vendors in the market are implementing various strategies to expand their geographical presence and increase their market shares. Also, the vendors are investing extensively in research to develop safe and efficient products to gain regulatory approvals for their launch.
A more detailed analysis is available in the Technavio report, Global Vascular Stents Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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