Peripheral Vascular Stents Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2023 To 2031

The "peripheral vascular stents market" is expected to witness a CAGR of 7.5% during the forecast period of 2023 to 2031, driven by the increasing prevalence of peripheral artery disease (PAD) and the rising aging population. Peripheral vascular stents are medical devices used to treat blockages and narrowings in peripheral arteries, such as those in the legs, arms, and other areas outside the heart and brain. The main purpose of these stents is to restore blood flow and prevent further complications associated with PAD, such as limb amputations and cardiovascular events. Moreover, the market has been impacted by the ongoing research and development efforts to introduce novel stent designs and drug-eluting stents that reduce the risk of restenosis and improve long-term outcomes. As the understanding of the pathophysiology of PAD improves, there is a continuous effort to enhance stent performance and patient outcomes. Despite the positive market trends, challenges remain, including the cost associated with peripheral vascular stents and reimbursement policies across different regions. Additionally, the presence of alternative treatment options, such as angioplasty and atherectomy, poses a competitive challenge to the adoption of stenting.

Increasing Prevalence of Peripheral Artery Disease (PAD)

Peripheral artery disease (PAD) is a major driver of the peripheral vascular stents market. The prevalence of PAD has been rising globally, particularly in aging populations. According to the American Heart Association, approximately 8.5 million people in the United States alone are affected by PAD. The increasing incidence of risk factors such as diabetes, obesity, and smoking has further contributed to the growing number of PAD cases. As PAD progresses, it can lead to significant narrowing and blockages in peripheral arteries, necessitating the use of peripheral vascular stents for revascularization. The need for effective treatment options for PAD has resulted in a higher demand for peripheral vascular stents.

Advancements in Stent Technology and Design

Advancements in stent technology and design have played a crucial role in driving the peripheral vascular stents market. Over the years, significant progress has been made in the development of stents, including the introduction of drug-eluting stents and bioresorbable stents. Drug-eluting stents are coated with medications that help reduce the risk of restenosis, leading to improved long-term outcomes for patients. Bioresorbable stents gradually dissolve over time, leaving behind a healed artery without a permanent implant. These technological innovations have enhanced the safety and efficacy of peripheral vascular stents, leading to increased adoption by healthcare providers. For instance, studies have shown that drug-eluting stents offer better outcomes in terms of target lesion revascularization rates compared to bare-metal stents.

Rising Adoption of Minimally Invasive Procedures

The rising preference for minimally invasive procedures is a significant driver for the peripheral vascular stents market. Minimally invasive procedures, such as endovascular stenting, offer several advantages over traditional open surgeries, including shorter hospital stays, reduced risk of complications, and faster recovery times. As a result, more patients and healthcare providers are opting for minimally invasive interventions, leading to a higher demand for peripheral vascular stents. Additionally, the development of newer techniques, such as radial artery access for stenting procedures, has further contributed to the growing popularity of minimally invasive approaches. Studies have demonstrated that endovascular stenting is associated with lower morbidity and mortality rates compared to open surgery, supporting the trend of increased adoption of minimally invasive procedures.

High Incidence of Stent-Related Complications

One significant restraint facing the peripheral vascular stents market is the high incidence of stent-related complications. While peripheral vascular stents have been effective in treating peripheral artery disease (PAD) and restoring blood flow in affected arteries, they are not without risks. Complications associated with stents include restenosis, thrombosis, and stent fractures. Restenosis refers to the re-narrowing of the treated artery, which may occur after the initial stenting procedure. Thrombosis is the formation of blood clots within the stent, which can obstruct blood flow and lead to serious complications. Stent fractures, though less common, can occur due to mechanical stress or stent malapposition. These complications may necessitate additional interventions or surgeries, leading to increased healthcare costs and patient discomfort. Studies have reported varying rates of stent-related complications, depending on factors such as stent type, patient characteristics, and follow-up duration. Addressing these complications and minimizing their occurrence remain significant challenges for healthcare providers and stent manufacturers in the peripheral vascular stents market. Therefore, a cautious approach to patient selection, appropriate stent sizing, and vigilant post-procedure follow-up is critical to mitigate the risks associated with peripheral vascular stents and improve patient outcomes.

Drug-Eluting Stents (DES) Dominate the Market by Type

Among the different types of peripheral vascular stents, drug-eluting stents (DES) are expected to demonstrate the highest CAGR during the forecast period of 2023 to 2031 and also the revenue generated in 2022 in the market. Drug-eluting stents are coated with medications that help inhibit restenosis, reducing the risk of the treated artery narrowing again after the stenting procedure. The ability of DES to provide better long-term outcomes compared to bare metal stents (BMS) and their higher efficacy in preventing restenosis has driven their widespread adoption. Additionally, advancements in drug-eluting stent technology and improvements in the drug-coating process have further enhanced their performance and safety profile, contributing to their high CAGR and revenue generation in the peripheral vascular stents market.  Bare metal stents (BMS) hold a significant share of the market due to their long-standing use and established efficacy in providing mechanical support to the narrowed artery. BMS are uncoated stents made of metal, which, despite lacking drug-eluting properties, are effective in immediate vessel scaffolding and restoration of blood flow. While BMS have been associated with a higher risk of restenosis compared to DES, they continue to be preferred in certain cases where prolonged dual antiplatelet therapy is not feasible or when the risk of bleeding is a concern. As a result, BMS contributes substantially to the overall revenue of the peripheral vascular stents market. Bioabsorbable stents, though an emerging segment, have also shown promise and are expected to witness a notable CAGR in the future. Bioabsorbable stents gradually dissolve over time, leaving the treated artery without a permanent implant. This feature eliminates the long-term presence of the stent, potentially reducing the risk of stent-related complications. However, challenges related to the mechanical strength and complete bioabsorption of these stents have limited their widespread adoption. Nevertheless, ongoing research and development efforts to improve the performance and safety of bioabsorbable stents are expected to fuel their growth in the peripheral vascular stents market.

Self-Expanding Stents to Dominate the Market by Mode of Delivery

In the mode of delivery segment of the peripheral vascular stents market, self-expanding stents are expected to demonstrate the highest CAGR during the forecast period of 2023 to 2031 and also revenue generated in 2022 in the market. Self-expanding stents are designed to expand and deploy on their own when released from the delivery system. This feature allows for accurate placement in complex anatomies and areas with varying vessel diameters. The flexibility and adaptability of self-expanding stents contribute to their widespread adoption, particularly in challenging peripheral vascular interventions. Moreover, self-expanding stents offer the advantage of reduced recoil, ensuring excellent vessel scaffolding and long-term patency. The convenience and effectiveness of self-expanding stents have led to their preference in various clinical scenarios, driving their high CAGR and revenue in the peripheral vascular stents market. Balloon-expandable stents, on the other hand, hold a significant market share and have consistently contributed to the market's revenue. Balloon-expandable stents are deployed using a balloon catheter, which is inflated to expand the stent against the vessel wall. These stents are ideal for precise deployment in controlled environments and offer excellent radial strength once expanded. Balloon-expandable stents are commonly used in coronary interventions and in cases where the target vessel has a consistent diameter, allowing for predictable stent expansion. Despite the competition from self-expanding stents, balloon-expandable stents continue to be preferred in specific clinical situations, including cases with tight lesions or where precise positioning is critical. As a result, they maintain a significant market share and contribute substantially to the overall revenue of the peripheral vascular stents market.

APAC to Promise Significant Opportunities during the Forecast Period

In terms of the highest revenue percentage in 2022, North America and Europe held the most substantial market share due to their early adoption of advanced medical technologies and higher healthcare spending. The United States, in particular, accounts for a significant portion of the revenue in the North American market, driven by a high prevalence of PAD and a well-established healthcare system. In Europe, countries like Germany, France, and the United Kingdom contribute significantly to the overall revenue of the peripheral vascular stents market due to their aging populations and robust healthcare infrastructure. The Asia-Pacific region is witnessing the highest CAGR in the peripheral vascular stents market. The rising incidence of PAD, especially in countries like India and China, coupled with a growing geriatric population and increasing healthcare expenditure, is fuelling the demand for peripheral vascular stents in the region. Moreover, expanding healthcare infrastructure and the availability of a wide range of stent options have contributed to the market's growth in the Asia-Pacific region.

Market Competition to Intensify during the Forecast Period

The peripheral vascular stents market is highly competitive, with several top players vying for market share and prominence. Some of the leading companies in the industry include Abbott Laboratories, Boston Scientific Corporation, Medtronic Plc, Cook Medical, C.R. Bard, Inc, Terumo Medical, Biotronik, Lifetech, iVascular SLU, Stryker, Microport Scientific Corporation, Stentys S.A., Hellman & Friedman (Cordis Inc.). These companies employ various key strategies to maintain their competitive edge in the peripheral vascular stents market. One of the primary strategies is continuous research and development to introduce innovative stent designs and technologies. These top players invest significantly in advancing stent materials, drug coatings, and delivery systems to enhance stent performance and patient outcomes. Another critical aspect of their competitive strategy is global market reach and distribution efficiency. These companies have well-established supply chains and extensive distribution networks that allow them to reach healthcare providers and patients across diverse geographic regions. This global presence ensures that their products are readily available to meet the demand for peripheral vascular stents worldwide. To maintain their competitive advantage, these companies prioritize compliance with regulatory requirements and quality standards. They invest in obtaining necessary certifications and approvals from regulatory authorities to ensure the safety and efficacy of their stent products. This commitment to regulatory compliance enhances their reputation among healthcare providers and patients.

Historical & Forecast Period

This study report represents analysis of each segment from 2021 to 2031 considering 2022 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2023 to 2031.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation ofPeripheral Vascular Stents market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Peripheral Vascular Stents market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Market Segmentation

Type

• Drug Eluting Stents (DES)
• Bare Metal Stents (BMS)
• Bioabsorbable Stents

Mode of Delivery

• Self-expanding Stents
• Balloon-expandable Stents

Product

• Iliac Artery Stents
• Femoral Artery Stents
• Carotid Artery Stents
• Renal Artery Stents
• Other Peripheral Stents

End-Use

• Hospitals & Cardiac Centers
• Ambulatory Surgical Centers
• Others

  Region Segment (2021 - 2031; US$ Million)

• North America
• U.S.
• Canada
• Rest of North America
• UK and European Union
• UK
• Germany
• Spain
• Italy
• France
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia Pacific
• Latin America
• Brazil
• Mexico
• Rest of Latin America
• Middle East and Africa
• GCC
• Africa
• Rest of Middle East and Africa

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Peripheral Vascular Stents market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2031.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Peripheral Vascular Stents market?
• Which is the largest regional market for Peripheral Vascular Stents market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Peripheral Vascular Stents market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Peripheral Vascular Stents market worldwide?

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