Peripheral Vascular Stents Market Size, Share, Growth, And Industry Analysis, By Type (Balloon-expandable, Self-expandable), By Application (Hospital, Clinic, Others), And By Regional Insights and Forecast To 2031

Updated On: 22 April 2024

PERIPHERAL VASCULAR STENTS MARKET REPORT OVERVIEW

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The global peripheral vascular stents market size was USD 3976.9 million in 2022 and will touch USD 5968.3 million by 2028, exhibiting a CAGR of 7.0% during the forecast period.

The peripheral vascular stents market is a dynamic sector witnessing substantial growth, driven by advancements in medical technology and an aging global population. These small, tubular devices play a pivotal role in treating various vascular conditions, such as peripheral artery disease, by providing structural support to blood vessels. The escalating prevalence of cardiovascular disorders and the increasing demand for minimally invasive procedures are key factors propelling market expansion. Additionally, ongoing research and development efforts aim to enhance stent design and materials, further contributing to the market's evolution. With a burgeoning need for effective vascular interventions, the peripheral vascular stents market is poised for continued advancement.

COVID-19 Impact: Market Growth Restrained by Pandemic Due to Supply Chain Disruptions

The COVID-19 pandemic has negatively impacted the peripheral vascular stents market, causing disruptions in healthcare services, elective procedures, and supply chains. Lockdowns and restrictions led to a decline in routine medical visits, delaying diagnosis and treatment of vascular conditions. Hospitals diverted resources to manage the pandemic, affecting the prioritization of non-emergent procedures like stent placements. Additionally, disruptions in manufacturing and distribution channels impacted the availability of stents. Economic uncertainties and healthcare system strain further contributed to a temporary setback in the market. As the situation stabilizes, the market is expected to recover, emphasizing the resilience of the healthcare industry in adapting to unprecedented challenges.

LATEST TRENDS

"Innovations in Bioresorbable Peripheral Vascular Stents Shape Future of Interventional Cardiology"

The peripheral vascular stents market has witnessed a notable trend with the advent of bioresorbable stents. This cutting-edge technology offers a revolutionary approach, allowing stents to gradually dissolve in the body after serving their purpose. This innovation addresses challenges associated with traditional stents, such as long-term complications and the need for prolonged medication. As clinical trials demonstrate promising outcomes, the shift towards bioresorbable peripheral vascular stents signifies a transformative stride in interventional cardiology, promising improved patient outcomes and shaping the future landscape of vascular interventions.

PERIPHERAL VASCULAR STENTS MARKET SEGMENTATION

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• By Type

Based on type the global market can be categorized into balloon-expandable, self-expandable

Balloon-expandable stents: They are deployed using an inflated balloon to widen and secure the stent in blood vessels, providing controlled expansion during the procedure.

Self-expandable stents: They utilize the inherent properties of their materials to autonomously expand and conform to the vessel's size, offering flexibility and adaptability in peripheral vascular interventions.

• By Application

Based on application the global market can be categorized into hospital, clinic, other

Hospitals: They are primary healthcare institutions, serve as comprehensive settings for peripheral vascular stent procedures, offering a wide range of medical services.

Clinics:  They are smaller healthcare facilities, provide a more localized and accessible environment for peripheral vascular stent interventions, often catering to specific communities or patient groups.

Other: There are healthcare facilities, encompassing specialized centers and outpatient units, contribute to the diverse landscape of peripheral vascular stent applications, offering focused care and specialized treatments.

DRIVING FACTORS

"Technological Advancements Drives the Market"

Continuous innovation in stent design, materials, and manufacturing processes enhances the efficacy and safety of peripheral vascular stents. Advancements such as bioresorbable stents, drug-eluting technologies, and improved deployment methods contribute to the market's expansion, offering more efficient and patient-friendly solutions.

"Prevalence of Cardiovascular Diseases Fuels the Market"

The increasing incidence of cardiovascular disorders, particularly peripheral artery diseases, fuels the demand for effective treatment options like vascular stents. As the global population ages and lifestyles contribute to vascular health issues, there is a growing need for interventions, propelling the peripheral vascular stents market forward.

RESTRAINING FACTORS

"A significant restraining factor influencing the market is the risk of complications associated with stent implantation procedures."

While stents have proven efficacy in treating vascular conditions, the procedure is not without risks. Complications such as stent thrombosis, restenosis, and in-stent restenosis pose challenges to long-term success. Managing these complications requires ongoing medical attention and, in some cases, additional interventions. This factor contributes to hesitancy among both patients and healthcare providers, impacting the widespread adoption of peripheral vascular stents and influencing peripheral vascular stents market growth.

PERIPHERAL VASCULAR STENTS MARKET REGIONAL INSIGHTS

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"North America Emerges as the Pivotal Driver in the Market Due to Well-Established Healthcare Infrastructure "

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

North America stands as a dominant force in the peripheral vascular stents market share. The region's leading position is attributed to a well-established healthcare infrastructure, robust research and development activities, and a high prevalence of cardiovascular diseases. Advanced medical technologies and a proactive approach to adopting innovative interventions contribute to North America's prominent role in shaping the peripheral vascular stents market landscape. While other regions, such as Europe and Asia-Pacific, are gaining traction, North America remains a key driver of advancements and market growth in the field of vascular interventions.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market Through Innovation and Market Expansion"

Industry leaders are actively shaping the peripheral vascular stents market through innovative practices and strategic market expansion. Key players, such as Medtronic, Abbott Laboratories, and Boston Scientific, are driving advancements in stent design, materials, and technologies. Their commitment to research and development fosters innovation, pushing the boundaries of what vascular interventions can achieve. Through mergers, acquisitions, and collaborations, these companies also expand their market presence globally. The competitive landscape is dynamic, with companies like Cook Medical and C.R. Bard contributing significantly. This collective effort of industry players is instrumental in propelling the peripheral vascular stents market forward, benefitting both patients and healthcare providers.

List of Market Players Profile

• Medtronic (Ireland)
• Terumo Medical (Japan)
• Abbott Laboratories (U.S.)
• Biotronik (Germany)
• Lifetech (China)
• Cook Medical (U.S.)
• B. Braun (Germany)
• Boston Scientific (U.S.)
• Intact Vascular (Philips) (U.S.)

INDUSTRIAL DEVELOPMENT

October 2022: An industrial development in the peripheral vascular stents market is the increasing focus on bioresorbable stents. Manufacturers are investing in research and development to create stents that can gradually dissolve within the body after fulfilling their therapeutic function. This innovative approach addresses long-term complications associated with traditional stents, offering a more patient-friendly solution. Companies like Abbott Laboratories and Boston Scientific are at the forefront of developing and commercializing bioresorbable stents, marking a significant step towards advancing interventional cardiology and improving patient outcomes in the field of peripheral vascular interventions.

REPORT COVERAGE

The peripheral vascular stents market is undergoing dynamic transformations, driven by technological advancements, the rising prevalence of cardiovascular diseases, and notable industrial developments such as the emergence of bioresorbable stents. North America currently holds a dominant position, propelled by a robust healthcare infrastructure and a proactive approach to innovation. Key industry players, including Medtronic, Abbott Laboratories, and Boston Scientific, play pivotal roles in shaping the market through innovation and strategic expansion. As the field continues to evolve, with a focus on patient-centric solutions and global collaborations, the peripheral vascular stents market is poised for sustained growth, offering promising prospects for the future of vascular interventions.