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Albany, NY, April 23, 2019 (GLOBE NEWSWIRE) -- According to TMR, the global arterial stents market is assessed to expand at an impressive CAGR of 9.5% over the forecast period from 2017 to 2025. With this vigorous CAGR, the market is expected to attain a value of US$17.8 bn by 2025-end from the value collected of US$8.0 bn in 2016.
Based on the application, the coronary artery segment accounted for the leading share in 2016 and is likely to be the dominant segment until 2025-end. However, the segments including femoral and popliteal artery are estimated to expand with the most lucrative CAGR over the forecast period from 2017 to 2025. This growth is attributable to clinical research, which is leading to enhance availability to deep-rooted arteries such as femoral and popliteal.
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Based on the region, the arterial stents market is dominated by Europe in 2016 followed by North America. However, Asia Pacific is expected to witness growth with most lucrative CAGR by the end of the forecast period. This growth is attributable to the high adoption from the developed countries such as the U.S., U.K., and Canada along with the strategic presence of important arterial stents manufacturers in Germany.
Large Patient Pool of Cardiovascular Diseases to Propel Demand for Arterial Stents
The global arterial stents market is benefitting from the growing cases of cardiovascular diseases due to unhealthy lifestyle and changing eating habits. The unhealthy lifestyle, which includes smoking, drinking, and work stress, is leading to increasing people pool of cardiovascular diseases and incidences of high cholesterol among these patients. Cardiologists use stents to dilate the arteries and continuing blood flow in them. Thus, the growing patient pool of cardiovascular diseases is boosting demand for arterial stents and in turn, is driving the growth of the global arterial stents market.
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Furthermore, growing awareness level among patients and surgeons for benefits of using stents coupled with easy availability of arterial stents is also driving growth of the global arterial stents market. Additionally, presence of the several private and public health insurances along with government support through numerous favorable policies is encouraging adoption of the arterial stents, which in turn is driving growth of the global arterial stents market.
Presence of Advanced Technologies to Play Crucial Role in Market’s Growth
Advancements in the technologies such as biodegradable and biocompatible stents have a crucial role in garnering consumption of arterial stents, which is also boosting growth of the market. Moreover, people are increasingly realizing that the surgery is no longer intricate, thus they are acceptance toward adopting these surgical procedures. This is favoring growth of the global arterial stents market.
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Growing investment in the developing market across the Asia Pacific region is also playing a key role in the growth of the arterial stents market. However, the factors such as lack of skilled professionals and the absence of proper healthcare infrastructure are restraining growth of the global arterial stents market. Nonetheless, a large number of players are concentrating to expand their business across these markets to tap the robust opportunities present in the region.
The global arterial stents market has a competitive vendor landscape, Transparency Market Research (TMR) estimated during the study. Some of the prominent players including Abbott Laboratories, Boston Scientific Corporation, Cordis Corporation, C.R. Bard Inc., Gore Medical, Medtronic, and Cook Medical are dominating in the global arterial stents market. In order to cater to the growing demand for the advanced, efficient, and biocompatible stents, the key players are investing in research & development (R&D) activities. Additionally, through these strategies, the key players are introducing new products, which are helping them to stand out with better prospects in the global arterial stents market.
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This information is encompassed in the report by TMR, titled, “Arterial Stents Market (Product - Coronary Stents (Bare Metal Stents, Drug-eluting Stents, and Bioresorbable Stents) and Peripheral Stents (Self-expandable Stents and Balloon-expandable Stents); Application - Coronary Artery, Carotid Artery, Iliac Artery, and Femoral & Popliteal Artery) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017 - 2025.”
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