Peripheral Stent Market
Number of pages: 100 | Report Format: PDF | Published date: June 05, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023 to 2031
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Report Attribute |
Details |
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Market Size Value in 2022 |
US$ 3.84 billion |
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Revenue Forecast in 2031 |
US$ 6.74 billion |
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CAGR |
5.8% |
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Base Year for Estimation |
2022 |
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Forecast Period |
2023 to 2031 |
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Historical Year |
2021 |
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Segments Covered |
Product, Artery Type, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global peripheral stent market was valued at US$ 3.84 billion in 2022 and is expected to register a revenue CAGR of 5.8% to reach US$ 6.74 billion by 2031.
Peripheral Stent Market Fundamentals
A peripheral stent is a medical device used to treat blockages or narrowing in blood vessels outside the heart, primarily in the peripheral arteries. These arteries include those in the legs, arms, kidneys, and other body areas. Peripheral artery disease (PAD) occurs when fatty deposits called plaque build up in the arteries, causing them to become narrowed or blocked. This can lead to reduced blood flow, resulting in symptoms such as leg pain, cramping, or wounds that do not heal properly. A peripheral stent is designed to open up the blocked or narrowed artery and restore blood flow. It is typically a small, cylindrical mesh-like structure made of metal or synthetic materials. The stent is inserted into the artery using a minimally invasive procedure called .
Peripheral Stent Market Dynamics
The rising incidence of peripheral artery disease, primarily due to factors such as sedentary lifestyles, obesity, and diabetes, is fueling the demand for peripheral stents. As the number of patients diagnosed with peripheral artery disease increases, the need for effective treatment options like peripheral stents also grows. According to the National Center for Biotechnology Information, Lower-extremity peripheral artery disease (PAD) is becoming increasingly recognized as a major cause of cardiovascular morbidity and mortality, affecting about 230 million individuals globally. Peripheral stents are often placed using minimally invasive techniques, such as endovascular procedures. These methods involve smaller incisions, shorter hospital stays, faster recovery times, and fewer complications than traditional open surgeries. The elderly population is more susceptible to peripheral artery disease, as age is a significant risk factor. As the global population continues to age, the prevalence of peripheral artery disease is expected to rise, increasing the peripheral stent market demand. According to the WHO, the number of people aged 60 years and older is expected to double from 900 million in 2015 to 2 billion by 2050. Advancements in stent technology have improved the efficacy and safety of peripheral stents. The development of drug-eluting stents, which release medication to prevent re-blockage of the artery, has significantly reduced the rate of restenosis. Furthermore, introducing bioresorbable stents, which gradually dissolve within the body, thus driving peripheral stent market growth. Improved awareness of peripheral artery disease, along with advancements in diagnostic techniques, has led to earlier and more accurate detection of the condition. As a result, more patients are being diagnosed and seeking treatment, which drives the demand for peripheral stents.
However, The cost of peripheral stents and the associated procedures can be substantial. This high-cost limits access to treatment for some patients, which is restricting the peripheral stent market demand. Although peripheral stent procedures are generally considered safe, there are potential risks and complications associated with the placement of stents. These include stent migration, stent fracture, restenosis, thrombosis, and vessel injury, which are also hindering the growth of the peripheral stent market growth.
Peripheral Stent Market Ecosystem
The global peripheral stent market is analyzed from three perspectives: product, artery type, and region.
Peripheral Stent Market by Product
Based on the products, the global peripheral stent market is segmented into covered stents, drug-eluting stents, and bare metal stents.
The drug-eluting stent segment accounted for the largest revenue share of the peripheral stent market in 2022. Drug-eluting stents have been shown to significantly reduce the risk of restenosis compared to bare-metal stents. The drug coating on a drug-eluting stent releases medication that helps inhibit cell growth and prevents the re-narrowing of the treated artery. This improved efficacy in preventing restenosis has led to a preference for drug-eluting stents in clinical practice. Due to their ability to reduce restenosis rates, drug-eluting stents offer better long-term outcomes for patients. Studies have demonstrated that drug-eluting stents can maintain vessel patency for a longer duration compared to bare-metal stents, resulting in fewer repeat procedures and better overall patient outcomes. The use of drug-eluting stents has expanded beyond coronary artery disease and into peripheral artery disease. This wider applicability of drug-eluting stents has contributed to their growth in the peripheral stent market. Continuous advancements in drug coatings have improved the performance of drug-eluting stents. Innovations such as developing newer drug formulations, improved drug-release kinetics, and bioabsorbable coatings have enhanced the effectiveness and safety of drug-eluting stents. The robust clinical evidence supporting the efficacy of drug-eluting stents has influenced treatment guidelines and recommendations. Professional societies and regulatory bodies often endorse the use of drug-eluting stents as the preferred option for certain peripheral artery disease indications.
The bare metal stents segment accounted for a considerable peripheral stent market share. Bare metal stents are generally more cost-effective than drug-eluting stents. The absence of drug coating in bare metal stents reduces manufacturing costs, making them a more affordable option for both healthcare providers and patients. In regions with limited healthcare budgets or where reimbursement is a concern, bare metal stents may be favored due to their lower cost. Bare-metal stents provide immediate vessel patency by mechanically scaffolding the narrowed or blocked artery. This immediate restoration of blood flow can be beneficial in critical situations where rapid revascularization is required. Additionally, bare metal stents have demonstrated good long-term durability in maintaining vessel patency, particularly in less complex lesions with a relatively low risk of restenosis. In certain patient populations, such as those with a high bleeding risk or those requiring short-term dual antiplatelet therapy (DAPT), bare-metal stents may be preferred.
Peripheral Stent Market by Artery Type
Based on the artery types, the global peripheral stent market is segmented into the iliac artery, carotid artery, femoral-popliteal artery, and renal & related arteries.
The renal & related arteries segment accounted for a significant revenue share of the peripheral stent market in 2022. Renal artery disease, which involves the narrowing or blockage of the renal arteries that supply blood to the kidneys, is a significant medical condition. It can lead to hypertension and renal dysfunction. The prevalence of renal artery disease is relatively high, and it is a major contributing factor to the growth of the Renal & related Artery segment in the peripheral stent market. According to the National Center for Biotechnology Information, In patients with mild hypertension, the prevalence of renal artery stenosis is likely less than 1%, but it can range from 10% to 40% in patients with acute, severe, or resistant hypertension. Studies show that unilateral stenosis is more common than bilateral stenosis, ranging from 53% to 80%. Treating renal artery disease is crucial as it directly affects kidney function. Interventional procedures, including the use of peripheral stents, are often employed to restore blood flow to the kidneys and alleviate hypertension. The use of peripheral stents in the renal artery has shown positive clinical outcomes in terms of improving blood flow to the kidneys and reducing hypertension. Stent placement in the renal artery can effectively widen the narrowed or blocked artery, leading to improved renal function and blood pressure control. Improved awareness of along with advancements in diagnostic techniques, has led to earlier and more accurate detection of the condition. As a result, more patients are being diagnosed and seeking treatment, which drives the demand for peripheral stents in the renal & related artery segment.
Peripheral Stent Market by Region
Geographically, the global peripheral stent market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The North America region has the largest peripheral stent market size in terms of revenue generation accounting for around 36.3% share of the market. North America has a relatively high prevalence of peripheral artery disease. The growing prevalence of peripheral artery disease drives the demand for peripheral stents as a treatment option, contributing to market growth. According to the CDC, approximately 6.5 million people aged 40 and older in the U.S. have PAD. North America is known for its advanced healthcare infrastructure and continuous technological advancements. The region has witnessed the development of innovative stent technologies, including drug-eluting stents, bio resorbable stents, and self-expanding stents. These advancements attract healthcare providers and promote the adoption of advanced peripheral stents in the market. There has been a concerted effort to raise awareness about peripheral artery disease in North America. Increased awareness campaigns and educational initiatives have led to earlier diagnosis and treatment of the condition. North America, particularly the United States, has well-established healthcare reimbursement systems that cover peripheral stent procedures. Favorable reimbursement policies facilitate access to treatment and drive market growth. North America is home to several major market players in the peripheral stent industry. These companies invest in research and development, drive innovation, and introduce new products into the market. Their strong presence and competitive strategies contribute to market growth by offering a wide range of stent options to healthcare providers and patients.
Peripheral Stent Market Competitive Landscape
The prominent players operating in the global peripheral stent market are:
Peripheral Stent Market Strategic Developments
A peripheral stent is a medical device used to treat blockages or narrowing in blood vessels outside the heart, primarily in the peripheral arteries. These arteries include those in the legs, arms, kidneys, and other body areas.
Asia Pacific can be considered the key growth region due to the surge in peripheral stent industry trends in China, Japan, and the Indian subcontinent.
The prominent players operating in the global peripheral stent market are Medtronic Plc, Abbott Laboratories, B. Braun Melsungen AG, Boston Scientific Corporation, and BIOTRONIK SE & Co., KG.
The global peripheral stent market growth is estimated to grow at a revenue CAGR of 5.8% during the forecast period from 2023 to 2031.
The estimated size of the global peripheral stent market in 2031 is US$ 6.74 billion.
*Insights on financial performance are subject to the availability of information in the public domain