Increasing cases of cardiovascular diseases and other chronic diseases are expected to drive the growth of the global stent market.
According to TechSci Research report, “Global Stent Market By Type of Product (Coronary Vascular Stent, Peripheral Vascular Stent, Neurovascular Stent and Non Vascular Stent), By Material (Metallic Biomaterial, Polymeric Biomaterial and Natural Biomaterials), By Type (Self-Expandable and Balloon-Expandable), By End User (Hospital & Clinics, Ambulatory Care Centers and Others) By Region, Competition, Forecast & Opportunities, 2026”, the global stent market was valued at around USD16894.15 million in 2020 and is expected to grow at a CAGR of 7.92% during the forecast period on account of the growing cardiovascular diseases and other chronic diseases. Further, chronic diseases such as diabetes, obesity, hormonal imbalance and hyper cholesterolemia leads to the blockage in the arterial blood flow including aorta which leads to lack of oxygen supply, which is a major cause of cardiac failure. These factors are set to drive the global stent market in the near future. An increase in the number of hospitals, ambulatory care centers, specialty centers, palliative care centers, among others, is enhancing the quality of existing healthcare services across the globe, which is further projected to boost market growth until 2026. Moreover, favorable government policies and schemes for spreading awareness pertaining to various diseases and their diagnosis is expected to compliment the market growth. Additionally, governments across various economies are heavily investing in their healthcare industry and associated R&D activities.
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The global stent market is segmented based on type of product, material, type, end-user, region, and company. Based on product, the market can be categorized into coronary vascular stents, peripheral vascular stents, neurovascular stents, and non vascular stents. The non vascular stent is expected to witness significant growth during the forecast period owing to an increase in gastrointestinal, urological and pulmonary diseases. Based on material type, the market can be grouped into metallic biomaterials, polymeric biomaterials, and natural biomaterials. The polymeric biomaterials segment is expected to grow at a higher rate on account of ease of use and better end-result as compared to the rest. Based on end-user segment, the market can be segmented into hospitals & clinics, ambulatory care centers and others. The hospitals and clinics segment is expected to dominate the market during the forecast period.
Major companies operating in the global stent market include Boston Scientific Corporation, Abbott Laboratories, Inc., Medtronic PLC, B. Braun Melsungen AG, Becton, Dickinson, and Company, Stentys S.A., Biotronik SE & Co. KG, Elixir Medical Corporation, MicroPort Scientific Corporation and Terumo Corporation. The market players are adopting growth strategies such as new product launches, mergers and acquisitions to strengthen their position in the global market.
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“Asia Pacific is expected to witness significant growth in the global stent market during the forecast period, owing to the increasing prevalence of chronic diseases and ageing population. Additionally, growing pollution levels and lifestyle diseases in major developing countries like India and China are increasing the chances for outburst of severe diseases, thereby resulting in increasing demand for stenting procedures. Furthermore, technological advancements have led to the diagnostic sector evolving very rapidly in the region, which can further strengthen the diagnostics sector in the healthcare system and make diagnostic services available to general population at affordable prices.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Stent Market By Type of Product (Coronary Vascular Stent, Peripheral Vascular Stent, Neurovascular Stent and Non Vascular Stent), By Material (Metallic Biomaterial, Polymeric Biomaterial and Natural Biomaterials), By Type (Self-Expandable and Balloon-Expandable), By End User (Hospital & Clinics, Ambulatory Care Centers and Others) By Region, Competition, Forecast & Opportunities, 2026.” has evaluated the future growth potential of global stent market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in the global stent market.
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