The global stents market size was exhibited at USD 12.17 billion in 2022 and is projected to hit around USD 21.49 billion by 2032, growing at a CAGR of 6.35% during the forecast period 2023 to 2032.
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Stents are made of plastic or sometimes metal in the form of tiny tubes that are set up into the narrow lumen of the vessel. Various disorders related to the cardiovascular system require the utilization of stents for the correction of the flow of blood through the anatomic vessels and ducts. Various cardiac diseases such as peripheral artery disease, coronary heart disease, and thrombosis of the deep vein require the utilization of stents during the surgical management of the condition.
Increasing demand for minimally invasive surgical procedures for the management of severe diseases is expected to boost the market for instance to a great extent. The adoption of modern technology in the field of medicine has emerged as a major opportunity for the growth of the stents market during the forecast period. A huge number of people all over the world are suffering from cardiovascular diseases and other related disorders of the urinary tract which require the utilization of stents.
As a result of unhealthy lifestyle practices and sedentary habits, the number of patients suffering with cardiovascular disorders has increased gradually. Most of the patients suffering with diseases related to the cardiovascular system belong to the geriatric population. As a result of the lack of movement and exercise among the people belonging to the geriatric population, they are prone to attract cardiovascular disorders. Awareness among the population regarding the various healthcare options and facilities is increasing gradually. This has resulted in an increasing demand for minimally invasive surgical procedures. The utilization of minimally invasive surgical procedures proved to be extremely beneficial for people belonging to the geriatric age group. The wound healing capabilities of the surgical procedures that are conducted with minimally invasive methods are higher as compared to the other traditional methods. The adoption of modern technology in the healthcare system has also boosted the market for stents to a great extent. The outbreak of the pandemic had a positive impact on the growth of the market because of the huge number of patients who were suffering with cardiovascular disorders. A huge number of patients who were affected during the course of the pandemic were seen to be suffering with cardiovascular disorders. The utilization of stents was seen to be increasing rapidly for the various surgical procedures that were carried out on the people.
Report Scope of the Stents Market
|Market Size in 2023||USD 12.83 Billion|
|Market Size by 2032||USD 21.49 Billion|
|Growth Rate from 2023 to 2032||CAGR of 5.9%|
|Forecast Period||2023 to 2032|
Key Market Drivers
Key Market Opportunities
Key Market Challenges
Based on product, the coronary stent segment accounted highest market share in 2022 as the cases of businesses associated with the heart have increased in recent years period the availability of advanced technology will also boost the market growth in the coming years.
Apart from the growth of the coronary stents segment the peripheral stents segment is also expected to show significant growth during the coming years. An increase in the cases of disease of the peripheral artery will also play a significant role in the growth of the market. The failure of various organs in the human body has created more demand for implants of those organs due to which the need for the stains related to those implants have also increased in recent years and they shall also help in the growth of the market during the forecast period. It will show significant growth in many developed as well as developing economies of the world due to the availability of surgical procedures that make use of advanced technologies.
The metallic segment has dominated the market in 2022 and most of the manufacturers in this industry are increasing their focus on the production of the stents used for cardiovascular diseases. The use of these metallic stents will increase as the cases of endoscopy and fluoroscopy have increased.
Apart from the growth of the metallic materials segment, the growth of the polymeric bio-materials segment is also expected in the coming years. The demand for polymeric stents has increased due to the increasing cases of cardiovascular diseases as the approvals sought from the government for this type of stent have also grown and the market is expected to grow well.
End User Insights
based on the end user, the segment of the hospital has emerged as the largest segment as most of the procedures are carried out within a hospital setup. A hospital setup provides multiple facilities to the patients as well as the medical staff and hence most people opt for the hospital sector for carrying out these surgical procedures. It is extremely essential to monitor the other vital parameters of the patient during the procedure, which is possible only within a hospital setup. Ambulatory surgical center segments will also show significant growth. As a result of the availability of multiple facilities within the hospitals, there shall be significant growth in these treatments in the hospitals.
On the basis of geography, the region of North America has emerged as the largest market for stents due to the huge number of patients that reside in this particular region. A huge population belonging to the region of North America falls under the category of the geriatric age group. This results in sedentary lifestyle practices which emerge as a major reason for the increasing number of patients suffering with cardiovascular diseases. As the healing power of the people belonging to the geriatric population is weak, the demand for minimally invasive surgical procedures is increasing rapidly. This is in turn boosting the market for stents as they do not require wide incisions. As a result of modern lifestyle practices and sedentary habits, the cholesterol level of people is rising rapidly. This results in two severe blockages in the lumen of the heart which requires surgical management. The modern facilities that are provided to the people through the hospitals have also boosted the market in this particular region.
The region of Europe has also proved to be a rising market for stents as a result of the advanced healthcare services that are provided to the people by the government. The people belonging to the region of Europe make use of modern healthcare services and hence demand advanced surgical options with the utilization of modern equipment.
Key Market Developments
Key Market Players:
Segments Covered in the Report
By End User
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