Rising incidences of cardiovascular diseases has prompted people to seek timely treatment to improve life expectancies. Amongst all cardiovascular diseases, coronary heart disease accounts for maximum fatalities annually, claims the American Heart Association (AHA). Increased burden of cardiovascular diseases has compelled patients to seek new trends in treatment.
In the wake of this, the demand for minimally invasive surgical procedures has accelerated. Stents are the most preferred method for correcting cardiac anomalies in this respect. This is because the insertion of stents prevents restenosis. Therefore, the arterial stents market is poised to expand impressively at a CAGR of 9.8% during the forecast period (2020-2025).
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Key Trends from the Arterial Stents Market Study:
- Coronary Stents shall dominate the arterial stents market. This is because of an increasing number of coronary artery disease patients and affordability of coronary stents. Anticipated market share is three-fifths of the overall market, growing almost twofold during the forecast period.
- Simultaneously, the Femoral & Popliteal Artery segment is set to experience robust growth. This is attributed to growing Percutaneous Coronary Intervention (PCI) procedures in correcting heart ailments. An impressive 10.2% CAGR is projected for this segment.
- Europe is anticipated to dominate the arterial stents market owing to strategic presence of key market players in the interventional cardiology market. An impressive 9.6% CAGR is projected for the region. Moreover, majority of the patients here opt for coronary artery stents, due to a high number of PCI procedures.
- Asia-Pacific is not very far behind, registering a healthy CAGR of 10.3% during the forecast period. Market penetration by important players and affordability of stents is projected to drive the growth of the region. Coronary Stents are anticipated to hold more than three-fifths of the arterial stents market.
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- Downsizing of production of arterial stents is anticipated, owing to the spread of the COVID-19 pandemic. Rising infection rates have shifted priority towards addressing patients with COVID-19. This has relegated non-emergency procedures to the backyard, creating a backlog of cardiac patients. However, cardiac complications arising due to the COVID-19 infection such as arrhythmia and tachycardia will be given top priority.
- Important players such as Boston Scientific Corporation have been contributing significantly to mitigate the spread of the disease. The company has taken significant steps to reduce costs by optimizing manufacturing and output prices and reduction in discretionary spending. It has also undertaken monetary and supply donations along with provision of manufacturing expertise and resources.
“The arterial stents market is projected to embark on a positive growth trajectory, driven primarily by increased demand for minimally invasive surgical procedures. To that end, manufacturers are concentrating heavily on product development and expansion of their portfolio,” concludes a Fact.MR analyst.
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Market Players Resort to Product Distribution to Expand Market Share
Highly fragmented, the arterial stents market is dominated by more than 50 players. Out of these, three key players- Medtronic, Abbott Laboratories and Boston Scientific Corporation- account for three-tenth of the market share.
Boston Scientific Corporation is the leading player. Its product categories include coronary intervention and peripheral intervention. It specializes in Drug-eluting stents such as Epic, Express & Innova, Self-expanding Stents such as Synergy, Eluvia and Flexive and Bare Metal Stents like Rebel & Promus.
Abbott Laboratories, through its Abbott Vascular branch, offers a broad range of endovascular devices and cardiovascular stents. The products it manufactures include Xience Alpine and Xience Xpedition, which are Drug-eluting and Bare Metal Stents respectively, Absolute Pro and Omnilink which are Self-Expanding Stents and RX Acculink which is a Balloon-expanding Stent
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