Medical Stents Market Scope
A stent is a wire mesh tube that is inserted into the blocked or narrowed artery. It is needed only when more than 70% of the artery is blocked or narrowed due to the deposition of plaque. The market of the medical stents is increasing due to the growing demand for procedures of minimally invasive surgical and rising geriatric population across the globe. While some of the factors like the risk associated with the surgery and technical issue regarding the stents can cause the hampering of the market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Abbott Laboratories (United States), B.Braun (Germany), Biosensors International (Singapore), Biotronik (Germany), Boston Scientific Corporation (United States), Medtronic (United States), Stryker Corporation (United States), Terumo Corporation (Japan) and Lepu Medical (China) |
CAGR | 13.2% |
The global medical stents market is highly competitive and diversified due to the presence of a large number of regional and international vendors across the globe. The local and regional vendors in this market with negotiable market share are increasingly focusing on providing products with advanced features and technologies. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Medical Stents market throughout the predicted period.
Abbott Laboratories (United States), B.Braun (Germany), Biosensors International (Singapore), Biotronik (Germany), Boston Scientific Corporation (United States), Medtronic (United States), Stryker Corporation (United States), Terumo Corporation (Japan) and Lepu Medical (China) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Edwards Lifesciences (United States) and W. L. Gore & Associates (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Medical Stents market by Type , by Application (Surgical and Medical Intervention) and Region with country level break-up.
On the basis of geography, the market of Medical Stents has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In December 2023, Terumo India launched Ultimaster Nagomi, a drug-eluting stent intended for use in the treatment of coronary artery disease.
On 13th December 2019, Boston Scientific Corporation announced US Food and drug administration (FDA) approved 510(k) clearance for EXALT Model D Single-Use Duodenoscope. It is first and only FDA cleared single-use (disposable) duodenoscope on the market and was granted.
The US Food and Drug Administration (FDA) recommended that the FDA should issue warnings to doctors and patients about drug-eluting coronary stents. The safety of such stents is unclear except in low-risk patients. Furthermore, patients with drug-eluting stents should take antiplatelet therapy for at least one year after insertion.
Influencing Trend:
Technological Advancements in the Field of Stents
Market Growth Drivers:
Growing Cardiovascular Disorders and Geriatric Population and Unhealthy and Hectic Lifestyle
Challenges:
Stent Failure and Recall
Restraints:
Stringent Regulatory Approvals and High Cost of Treatment associated with Stent Implants
Opportunities:
Rising Demand for Minimally Invasive Procedures, Advancement in Healthcare Technology and Huge Opportunities in Developing Countries
Key Target Audience
Manufacturers of Medical Stents, Suppliers of Medical Stents Parts, Wholesalers, Distributors, and Retailers of Medical Stents, Healthcare Industry, Governmental Bodies, Research Organizations and Others