Vascular Stent Global Market Report 2024

The global vascular stent market has grown rapidly in recent years. It will grow from $14.74 billion in 2023 to $16.26 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. During the historical period, the notable expansion can be credited to advancements in clinical research and development, the emergence of drug-eluting stents (DES), the introduction of balloon angioplasty, early innovations in stent technology, and the focused efforts on physician training and skill development. These factors collectively contributed to the observed growth during that timeframe.

The global vascular stent market is expected to see strong growth in the next few years. It will grow to $23.61 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. The anticipated growth in the upcoming forecast period is expected to stem from a heightened emphasis on preventive cardiovascular care, a notable shift towards outpatient procedures, the emphasis on cost-effectiveness and value-based healthcare models, the rising popularity of bioabsorbable stents, and the integration of next-generation materials in stent technology. Additionally, the expansion of endovascular interventions is predicted to contribute significantly to this growth trajectory. Key trends projected for the forecast period include advancements in stent coatings and materials, a heightened focus on patient education and awareness regarding cardiovascular health, an ongoing shift towards outpatient settings for medical interventions, and a sustained emphasis on cost-effectiveness within the healthcare sector. These trends are anticipated to play pivotal roles in shaping the future landscape of vascular stent applications and procedures.

The growth of the vascular stent market is expected to be propelled by the increasing incidence of vascular diseases. Vascular diseases, classified within the cardiovascular diseases (CVD) group, represent abnormal conditions affecting blood vessels, including arteries and veins. Vascular stents play a crucial role in treating various vascular diseases by facilitating the supply of oxygen-rich blood to the heart. In May 2023, the Center for Disease Control and Prevention reported that approximately 695,000 people in the United States succumbed to heart disease in 2021, accounting for 1 in every 5 deaths. Consequently, the rise in cardiovascular diseases is anticipated to be a key driver for the growth of the vascular stent market.

The growth of the vascular stent market is also expected to be fueled by the increasing healthcare expenditure. Healthcare expenditure refers to the total monetary resources spent by a country, organization, or individual on healthcare-related goods and services within a specific period. Elevated healthcare spending facilitates the development of better infrastructure, improved healthcare facilities, and increased awareness, all of which positively impact the diagnosis and treatment of vascular diseases. In June 2023, according to the Centers for Medicare & Medicaid Services (CMS), the National Health Expenditure Projections for 2023-2024 in the United States project growth rates of 5% in the current year and 5.1% in the next year. This increase in healthcare expenditure is a driving force for the advancement of the vascular stent market.

A notable trend influencing the vascular stent market is technological advancement. Many companies are investing in cutting-edge technologies such as bio-sensing devices, integrated stents, and drug-eluting coronary stent systems to gain a competitive edge. In 2022, Translumina, a medical equipment manufacturer based in India, introduced VIVO ISAR, a dual drug polymer-free coated stent (DDCS) representing the latest generation. This innovative stent combines superior safety profiles with advanced drug release kinetics by utilizing Probucol, an antioxidant and lipid-lowering drug, as a carrier for Sirolimus (an anti-restenosis drug) release. The result is a polymer-free drug-eluting stent platform with uncompromised safety and efficacy.

Major companies in the vascular stent market are strategically forging partnerships and collaborations with start-ups and mid-sized companies to enhance their product and service offerings. These strategic alliances and partnership agreements serve as a means for companies to broaden their existing product portfolios and extend their geographical reach. In September 2023, The Electrospinning Company, a UK-based manufacturer specializing in advanced biomaterials for implantable tissue-regenerative devices, entered into a partnership with Relisys Medical Devices, an India-based manufacturer of highly innovative cardiovascular medical devices. This collaboration aims to develop innovative products that can advance cardiovascular care and transform patient outcomes. Through this partnership, Electrospinning Company's Caladrix technology facilitates the deposition of a thin, functional polymer coating without the need for sutures. This advancement allows for the manufacturing of vascular stents with improved production rates and yields while maintaining efficacy.

In 2021, Royal Philips, a Netherlands-based health technology company, completed the acquisition of Vesper Medical Inc. for an undisclosed amount. This strategic move by Philips is geared towards innovating patient treatment with more sophisticated technology. The acquisition expands Philips' portfolio of diagnostic, vascular therapy, and therapeutic devices by incorporating an advanced venous stent designed for the treatment of deep venous disease. Vesper Medical Inc., a US-based medical technology company, specializes in the development of minimally invasive peripheral vascular devices.

Major companies operating in the vascular stent market report are Medtronic PLC, Abbott Laboratories, Boston Scientific Corporation, Biotronik SE & Co. KG, B. Braun Melsungen AG, Terumo Corporation, Meril Life Sciences Pvt. Ltd., JOTEC GmbH, W. L. Gore & Associates Inc., Lombard Medical Technologies Inc., MicroPort Scientific Corporation, Translumina GmbH, Lepu Medical Technology (Beijing) Co. Ltd., Koninklijke Philips N.V., Purple Medical Solution Pvt. Ltd., Sahajanand Medical Technologies Pvt. Ltd., Stentys SA, Stryker Corporation, Osypka AG, Spectranetics Corporation, Cook Medical Inc., Cordis Corporation, Endologix Inc., Johnson & Johnson Inc., Siemens Healthineers AG, General Electric Company, Nihon Kohden Corporation, Fujifilm Corporation, EP Medsystems Inc., ZOLL Medical Corporation

North America was the largest region in the vascular stent market share in 2023. The regions covered in the vascular stent market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the vascular stent market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary categories of vascular stent products include coronary stents, peripheral vascular stents, and EVAR stent grafts. Coronary stents specifically target constricted arteries supplying oxygenated blood to the heart, playing a crucial role in maintaining arterial patency post-angioplasty. Within the vascular stent market, these stents encompass various types such as bare metal stents, bio-engineered and bioresorbable vascular scaffolds, drug-eluting stents, and dual therapy stents. These stents are crafted from materials like cobalt-chromium, platinum-chromium, nickel titanium, stainless steel, and polymers. Their deployment methods involve balloon-expandable and self-expanding stents, utilized across ambulatory surgical centers, cardiac facilities, and hospitals.

This report provides vascular stent market statistics, including vascular stent industry global market size, regional shares, competitors with a vascular stent market share, detailed vascular stent market segments, market trends and opportunities, and any further data you may need to thrive in the vascular stent industry. This vascular stent market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The vascular stent market consists of sales of bare metal stents, bioresorbable scaffold systems, and drug-eluting balloons. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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