Global Self-expanding Stents Market Report: By Product (Bare Metal Stents, Drug-Eluting Stents, and Bioresorbable Vascular Scaffold) By Application (Fem-pop artery, iliac artery, carotid artery, biliary, and other), and Region (North America, Europe, Asia-Pacific, Latin America, Middle-East and Africa) Global Industry Analysis, Size, Share, Growth, Trends, Regional Analysis, Competitor Analysis and Forecast 2023-2031.
Global Self-expanding Stents market is predicted to reach approximately USD 5.47 billion by 2031, at a CAGR of 5.63% from 2022 to 2031.
Expandable stents, another name for self-expanding stents, are medical devices that open constricted or clogged blood vessels to improve blood flow. The capacity of these stents to automatically expand and conform to the vessel's diameter sets them apart from conventional stents and offers a more robust and efficient solution.
The market is characterised by a growing ageing population that is more susceptible to vascular disorders and a spike in demand for minimally invasive procedures. Self-expanding stents are becoming a crucial part of the treatment landscape as diseases like peripheral artery disease and coronary artery disease become more common. Technological advancements like drug-eluting and bioresorbable stents are also helping the market grow by improving patient outcomes and lowering the risk of complications.
Global Self-expanding Stents report scope and segmentation.
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Report Attribute |
Details |
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Estimated Market Value (2022) |
USD 3.34 billion |
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Projected Market Value (2031) |
USD 5.47 billion |
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Base Year |
2022 |
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Forecast Years |
2023 – 2031 |
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Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Based on By Product, Application & Region. |
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Segments Covered |
By Product, Application, & By Region. |
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Forecast Units |
Value (USD Billion or Million), and Volume (Units) |
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Quantitative Units |
Revenue in USD million/billion and CAGR from 2023 to 2031. |
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Regions Covered |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. |
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Countries Covered |
U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others. |
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Report Coverage |
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis. |
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Delivery Format |
Delivered as an attached PDF and Excel through email, according to the purchase option. |
Global Self-expanding Stents dynamics
The global rise in cardiovascular disease incidence is the main factor driving the market, as is the rising demand for efficient and minimally invasive treatment alternatives. The need for self-expanding stents is further fuelled by the ageing global population, which is more susceptible to vascular disorders. Technological developments that offer better treatment outcomes and lower risk of complications, like the creation of bioresorbable and drug-eluting stents, have a substantial impact on market dynamics.
Market dynamics on the supply side are defined by intense R&D activity carried out by major industry players. Businesses are making significant investments in innovation in order to launch new goods, advance current technologies, and obtain a competitive advantage. Companies frequently engage in strategic alliances, mergers, and acquisitions in an effort to increase their market share and diversify their product lines.
Global Self-expanding Stents drivers
The self-expanding stents market is driven primarily by the rising incidence of cardiovascular diseases worldwide. Effective cardiovascular interventions are in greater demand as risk factors like obesity and diabetes rise and lifestyles become more sedentary. The market is growing because self-expanding stents provide patients with diseases like peripheral artery disease and coronary artery disease with a minimally invasive option. These stents' ongoing development to address particular cardiovascular issues increases their desirability and highlights their critical role in contemporary cardiovascular care.
Rapid advancements in medical technology and ongoing research and development activities contribute significantly to the market's growth. Innovations such as bioresorbable stents, which gradually dissolve in the body after fulfilling their purpose, and drug-eluting stents, coated with pharmaceutical agents to prevent restenosis, showcase the industry's commitment to improving patient outcomes. These technological advancements not only enhance the efficacy of self-expanding stents but also drive the adoption of these devices by healthcare professionals seeking state-of-the-art solutions for their patients.
Restraints:
The self-expanding stents market faces challenges due to stringent regulatory requirements imposed by health authorities globally. The approval process for new devices can be time-consuming and resource-intensive, potentially delaying market entry for innovative products. Compliance with these regulations requires substantial investments in clinical trials and regulatory submissions, posing a barrier to entry for smaller companies and hindering the overall pace of market growth.
One major barrier to the widespread use of self-expanding stents is their cost, which is especially problematic in developing nations. Healthcare budgets may be strained by the high initial costs of these devices as well as extra expenses for follow-up care and deployment procedures. Self-expanding stent adoption may be hampered by this financial burden on patients and healthcare systems, especially in areas where cost is a major factor in healthcare decisions.
Opportunities:
Collaborations and strategic partnerships represent significant opportunities for market players to strengthen their positions. By partnering with healthcare institutions, research organizations, or other industry stakeholders, companies can leverage combined expertise and resources to accelerate research and development efforts. Such collaborations can lead to the introduction of innovative products, foster knowledge exchange, and enhance the overall competitiveness of self-expanding stent manufacturers in the dynamic healthcare landscape. Proactive engagement in partnerships can facilitate market expansion and foster a collaborative environment conducive to sustained growth.
Segment Overview
The self-expanding stents market is diversified based on product types, with three key categories. Bare Metal Stents, comprising metallic alloys without additional coatings, provide cost-effective and durable structural support. Drug-Eluting Stents, equipped with pharmacological coatings, actively prevent restenosis and are particularly favored in treating coronary artery disease. Bioresorbable Vascular Scaffold, an innovative category, offers temporary support before gradually dissolving, potentially reducing long-term complications associated with permanent implants. This product segmentation caters to a spectrum of clinical needs, balancing simplicity, advanced drug delivery, and bioresorbable solutions.
In terms of applications, self-expanding stents are strategically deployed across various anatomical locations within the vascular system. Fem-pop Artery applications target peripheral artery disease in the lower extremities, providing essential support. Iliac Artery interventions address issues in the iliac vessels associated with atherosclerosis and stenosis. Carotid Artery applications focus on improving cerebral blood flow and preventing strokes. Biliary applications involve the treatment of obstructions in the bile ducts. The "Other" category encompasses a diverse range of applications beyond specified arteries, showcasing the versatility of self-expanding stents in addressing varied vascular challenges. This segmentation ensures that healthcare professionals can tailor interventions to specific anatomical contexts, optimizing the efficacy of self-expanding stents across a spectrum of clinical scenarios.
Global Self-expanding Stents Overview by Region
North America and Europe occupying prominent positions, driven by well-established healthcare infrastructures and a high prevalence of cardiovascular diseases. In North America, the United States stands as a major contributor to market growth, fuelled by a robust healthcare system and significant investments in research and development. The European market is characterized by a high degree of technological adoption and a proactive approach to innovative medical solutions.
Asia-Pacific emerges as a region of tremendous growth potential, fuelled by increasing healthcare expenditure, a rising awareness of minimally invasive treatments, and a growing patient pool. Countries such as China and India are pivotal to this expansion, with improving healthcare infrastructures and a surging demand for advanced medical interventions.
Global Self-expanding Stents market competitive landscape
Leading companies such as Medtronic, Abbott Laboratories, Boston Scientific Corporation, and C.R. Bard (acquired by BD) are at the forefront of technological advancements and product development. These companies invest significantly in research and development to introduce cutting-edge self-expanding stents, enhancing their market position and meeting the evolving demands of healthcare professionals.
Strategic collaborations, mergers, and acquisitions play a crucial role in shaping the competitive dynamics of the market. Companies often engage in partnerships with research institutions and healthcare organizations to pool resources, share expertise, and accelerate product development. Mergers and acquisitions are employed as strategies to strengthen product portfolios, broaden market reach, and gain a competitive edge. Such moves contribute to the consolidation of the industry, fostering innovation and enhancing the overall competitiveness of the market.
Global Self-expanding Stents Recent Developments
Scope of global Self-expanding Stents report
Global Self-expanding Stents report segmentation
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Objectives of the Study
The objectives of the study are summarized in 5 stages. They are as mentioned below:
Research Methodology
Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region. The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.
Data Collection
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Primary Research
After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market.
Secondary Research
A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.
Top-Down Approach & Bottom-Up Approach
In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.
In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.
This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.
Market Analysis & size Estimation
Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.
Quality Checking & Final Review
The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.
