The vascular stents market is poised for significant growth over the coming years, driven by advances in medical technology and an increasing global demand for cardiovascular interventions. As one of the critical tools in modern interventional cardiology, vascular stents help restore and maintain blood flow in narrowed or blocked arteries, improving the quality of life for millions of patients worldwide. The global vascular stents market size reached almost USD 10.57 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 5.5% between 2024 and 2032, reaching a value of nearly USD 17.10 billion by 2032.
This blog post provides a comprehensive look into the vascular stents market, exploring its segments, trends, key players, growth drivers, and challenges, while also examining the impact of the COVID-19 pandemic on the industry.
Market Overview
Vascular stents are medical devices used to treat vascular diseases by keeping blood vessels open. These devices are typically inserted into the arteries and veins during minimally invasive procedures like angioplasty, helping to prevent the arteries from collapsing or narrowing after treatment. As cardiovascular diseases (CVDs) remain one of the leading causes of death worldwide, the demand for vascular stents is on the rise.
The market is segmented by stent types, material, end-user, and geography. Key players in the market are continuously innovating, creating next-generation stents with advanced materials and coatings to improve patient outcomes and reduce complications.
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Key Segments of the Vascular Stents Market
1. By Stent Type
Coronary Stents: These are the most commonly used stents in the market, primarily designed for coronary artery diseases (CAD). CAD is one of the leading causes of mortality globally, increasing the demand for coronary stents.
Peripheral Stents: Used to treat peripheral artery diseases (PAD), these stents are designed for arteries outside the heart, including in the legs and other peripheral areas. With the rising prevalence of PAD, the demand for peripheral stents is steadily increasing.
Carotid Stents: These stents are designed for arteries in the neck, specifically the carotid arteries, which supply blood to the brain. They are commonly used in patients with a high risk of stroke due to carotid artery narrowing.
Renal Stents: Used for narrowing of renal arteries, these stents are designed to maintain proper blood flow to the kidneys. The global rise in hypertension is a key driver of this segment's growth.
2. By Material
Metal Stents: Traditionally, vascular stents are made from stainless steel, cobalt-chromium, and other metals, providing strength and flexibility to the stents.
Biodegradable Stents: Also known as bioabsorbable stents, these stents are made from materials that gradually dissolve over time, reducing the risk of long-term complications.
Polymer Stents: These stents are made from biocompatible polymers that promote better tissue healing and reduce the risks of restenosis (re-narrowing of arteries).
3. By End-User
Hospitals: Hospitals remain the dominant end-user for vascular stents, as most stent procedures are performed in hospital settings due to the complex nature of the interventions.
Clinics: In some cases, outpatient clinics with specialized equipment offer stent placements, especially for routine or elective procedures.
Ambulatory Surgical Centers: These centers are becoming increasingly popular for minimally invasive surgeries and offer a significant market for vascular stents.
4. By Geography
The vascular stents market can also be segmented geographically, with North America, Europe, Asia Pacific, and the Rest of the World being the key regions.
North America: Dominates the market due to the high prevalence of cardiovascular diseases, well-established healthcare infrastructure, and the presence of major market players in the region.
Europe: The European market is expanding due to the increasing geriatric population and advancements in medical technologies.
Asia Pacific: The region is expected to witness significant growth due to the rising healthcare expenditure and a growing population prone to lifestyle-related diseases.
Market Trends
1. Advancements in Stent Technology
Innovation in vascular stents has been a major driving factor in the market. The development of drug-eluting stents (DES) has significantly reduced restenosis rates, leading to better patient outcomes. These stents are coated with medications that slowly release drugs to prevent the artery from re-narrowing after the procedure.
2. Growing Demand for Minimally Invasive Procedures
Minimally invasive surgery is becoming increasingly popular due to its benefits, such as shorter recovery times, reduced risks of complications, and less pain compared to traditional surgery. As a result, there has been a rising demand for vascular stents, which are often used in minimally invasive procedures like angioplasty.
3. Aging Population and Increased Prevalence of CVDs
As the global population ages, the incidence of cardiovascular diseases is rising. The World Health Organization (WHO) projects that by 2030, cardiovascular diseases will become the leading cause of death globally, further boosting the demand for vascular stents.
4. Emergence of Bioabsorbable Stents
Bioabsorbable stents are gaining popularity due to their potential to reduce long-term complications, such as stent thrombosis. These stents dissolve over time, leaving no permanent implant behind and offering a promising alternative to traditional metal stents.
5. Integration of AI and Robotics
Artificial intelligence (AI) and robotic surgery are being increasingly integrated into vascular stenting procedures. These technologies improve the precision of stent placement, reduce human error, and enhance patient outcomes.
Market Growth
The vascular stents market is expected to grow significantly over the next decade. This growth is primarily attributed to the increasing global incidence of cardiovascular diseases, rising healthcare awareness, and the growing geriatric population.
Market Size and Forecast
The global vascular stents market reached a value of nearly USD 10.57 billion in 2023. Between 2024 and 2032, the market is projected to grow at a CAGR of 5.5%, ultimately reaching a value of approximately USD 17.10 billion by 2032. North America is expected to continue leading the market, with Europe and Asia Pacific following closely.
Impact of COVID-19 on the Vascular Stents Market
The COVID-19 pandemic has had a significant impact on the healthcare industry, and the vascular stents market was not immune. During the peak of the pandemic, elective procedures, including stent implantations, were postponed or canceled in many parts of the world. This led to a temporary decline in market growth in 2020.
However, as healthcare systems adapted to the new normal, there was a gradual recovery in the market, particularly as hospitals resumed elective surgeries and procedures. Furthermore, the pandemic highlighted the importance of healthcare infrastructure and advanced medical technologies, leading to increased investments in cardiovascular care, which is expected to support the long-term growth of the vascular stents market.
Key Players in the Vascular Stents Market
The vascular stents market is highly competitive, with several key players dominating the landscape. Some of the leading companies in the market include:
1. Medtronic PLC
Medtronic is one of the world’s largest medical device companies, offering a wide range of vascular stents, including drug-eluting stents and bioabsorbable stents. The company's innovative technologies have helped it maintain a strong foothold in the market.
2. Boston Scientific Corporation
Boston Scientific is a key player in the vascular stents market, providing products for both coronary and peripheral applications. Its innovative drug-eluting stents are widely used in hospitals globally.
3. Abbott Laboratories
Abbott Laboratories offers a variety of stent solutions, including its renowned Xience drug-eluting stent. The company is committed to advancing interventional cardiology with innovative devices.
4. Johnson & Johnson (Cordis Corporation)
Johnson & Johnson, through its subsidiary Cordis, is a leading manufacturer of cardiovascular devices, including stents and balloon catheters. The company offers a wide range of vascular stents, including drug-eluting stents and bare-metal stents.
5. Terumo Corporation
Terumo Corporation is a major player in the vascular stent market, known for its cutting-edge products and continuous focus on innovation. The company is expanding its presence in both the coronary and peripheral stenting markets.
6. B. Braun Melsungen AG
B. Braun Melsungen offers a wide range of vascular intervention products, including stents for peripheral and coronary applications. The company’s stent technologies focus on improving patient outcomes and reducing complications.
Frequently Asked Questions (FAQs)
1. What are vascular stents used for?
Vascular stents are used to treat narrowed or blocked arteries, improving blood flow in conditions like coronary artery disease, peripheral artery disease, and carotid artery disease.
2. What is the difference between drug-eluting stents and bare-metal stents?
Drug-eluting stents are coated with medication that helps prevent restenosis, while bare-metal stents do not have any coating. Drug-eluting stents are often preferred due to their lower restenosis rates.
3. How long do vascular stents last?
The lifespan of a vascular stent depends on several factors, including the type of stent, the patient’s health, and whether they experience complications. Drug-eluting stents typically remain in place for several years.
4. Who are the leading players in the vascular stents market?
Key players in the vascular stents market include Medtronic, Boston Scientific, Abbott Laboratories, Johnson & Johnson (Cordis), Terumo Corporation, and B. Braun Melsungen.
5. What factors are driving the growth of the vascular stents market?
The key drivers include the increasing prevalence of cardiovascular diseases, advancements in stent technology, the growing demand for minimally invasive procedures, and the ageing population.
