Industry Overview
The market for stents was worth over USD 8.6 billion in 2021, and it is expected to expand by 4% between 2022 and 2028 as a result of the quick development of technology that has led to high precision and enhanced dependability in stents. The market value will also increase as a result of cutting-edge advances in drug-eluting stents including bifurcation stents and biodegradable materials.
Additionally, regular technological advancements enable the development of less invasive stents, supporting market expansion. To satisfy the growing requirements of patients, various market participants are also concentrating on the development of minimally invasive stents.
Stents are small plastic or metal tubes used to maintain the opening of an anatomical artery or duct. Stents are utilised in operations for conditions like deep vein thrombosis, peripheral artery disease, and coronary heart disease, among others.
Market Analysis and Size
Stents are regarded as the biggest stents and are frequently used to clear blockages from bigger arteries. These stents guard against aneurysm ruptures in the aorta, brain, or other blood arteries. The market for stents is expanding quickly because of technological advancements.
During the forecast period of 2022–2029, the global stents market is projected to grow at a CAGR of 5.73% from its 2021 market value of USD 11656.72 million to USD 18627.74 million. The Data Bridge Market Research team’s thorough expert research, patient epidemiology, pipeline analysis, price analysis, and regulatory framework are all included in the market study.
Global Stents Market: Definition
A stent is a type of medical device that is used to keep a blocked route open. This medical device, which can be constructed of plastic or metal, is shaped like a thin tube that helps to restore the flow of blood and other bodily fluids to various organs.
Covid-19 Impact on Stents Market
Due to the decrease in elective procedures, COVID-19 had a detrimental effect on the stents market. O&P clinics were briefly shuttered during the epidemic, and hospital access was limited to non-essential care. Social exclusion, population control, and restricted access to clinics all had a significant impact on the market. The market growth was also influenced by the slowdown in patient flow, referrals, trauma, and industrial injuries. The market will, however, start to expand again after the epidemic since the prior limits have been loosened.
The COVID-19 epidemic has caused disruption in the healthcare industry and reduced market share for stents globally. The healthcare system was affected by the rising number of COVID-19 cases throughout the world, which led to considerable delays in non-essential procedures and the detection of non-emergency illness problems. The severely enforced lockdown also caused disruptions in the supply and manufacturing chains, which resulted in a constrained supply of stents for end users. The movement of people and products was restricted, and non-essential medical operations including angioplasty and bypass surgery were stopped.
Therefore, the aforementioned factors had a negative impact on the expansion of the global stents market. Additionally, a number of manufacturers and other industry participants projected a significant market rebound in 2021 when non-essential processes were restarted and the limitations were loosened internationally. As a result, it was highlighted that the COVID-19 pandemic had a negative effect in the early years, but a strategic recovery is anticipated to put the market back on track in the following years.
Global Stents Market Scope and Market Size
Market for stents is divided into product, type, material, and end user segments. You may examine the industries’ slow-growing segments using the growth of these segments, and you can give users a useful market overview and industry insights to aid in their strategic decision-making for finding key market applications.
Product
- Coronary Stents
- Peripheral Stents
- Neurovascular Stents
- Stent-Related
The stents market is divided into four product categories: coronary stents, peripheral stents, neurovascular stents, and stent-related. Further categorization of coronary stents includes bare metal, drug-eluting, and bioresorbable stents. A further division of peripheral stents includes iliac, femoral-popliteal, renal, and carotid stents. Vena cava filters and synthetic grafts have been included in the segmentation of stent-related items.
Stents Market Dynamics
Understanding market drivers, benefits, opportunities, restrictions, and challenges is the focus of this section. The whole discussion of all of this is provided below:
- Coronary Artery Disease Prevalence
One of the key reasons propelling the growth of the stents market is the rise in the prevalence of coronary artery disease.
- Minimally invasive surgery is preferred
Because of benefits like rapid recovery and less discomfort, minimally invasive surgery is becoming more and more popular, which spurs market expansion.
- A Rise in Resources
The market is also influenced by the increase of investment from both public and private entities for the growth of the healthcare industry.
- Opportunities
Furthermore, throughout the projection period of 2022 to 2029, improvements in medical devices provide lucrative prospects to market participants. Additionally, bioresorbable vascular scaffolds will boost market growth.
About data bridge market research
Data Bridge Market Research offers syndicated research studies on a variety of subjects, including technology, chemicals and materials, food and drinks, healthcare, and energy. In order to assist organisations in making strategic decisions, these studies are created to offer industry insights, market trends, and competitive landscape research.
To give accurate and trustworthy data to its clients, Data Bridge Market Research also makes use of a variety of research approaches, including primary and secondary research, expert validation, and qualitative and quantitative analysis. In order to analyse big data sets and derive insightful conclusions, they also make use of complex data analytics tools and methodologies.
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