Global Peripheral Stent Implants Market Poised to Surpass USD 7.2 billion by 2033, Enhancing Cardiovascular Wellness! Persistence Market Research

GlobeNewsWire
Thursday, September 21, 2023 at 5:59pm UTC

New York, Sept. 21, 2023 (GLOBE NEWSWIRE) -- The global peripheral stent implants market was approximately US$ 3.6 Billion in 2022 and it is expected to reach USD 7.2 billion by 2033, at a CAGR of 6.7%. Peripheral stents are small, metal tubes that are inserted into blocked or narrowed arteries in the legs, arms, and neck. They help to keep the arteries open and improve blood flow.

The key factors driving the growth of the global peripheral stent implants market include the rising prevalence of peripheral artery disease (PAD), the increasing aging population, and the growing demand for minimally invasive procedures.

PAD is a condition in which the arteries in the legs, arms, and neck become narrowed or blocked. It is a common condition, especially in older adults. The increasing aging population is expected to lead to a higher prevalence of PAD, which will drive the demand for peripheral stents.

Minimally invasive procedures are becoming increasingly popular, as they offer several advantages over traditional surgery, such as shorter recovery times and less pain. Peripheral stent implantation is a minimally invasive procedure, which is another factor driving the growth of the market.

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Market Overview

Peripheral stent implants are used in the treatment of peripheral arterial diseases, which primarily affect arteries outside the heart and brain. These conditions result from the buildup of plaque (atherosclerosis) in the arteries, causing them to narrow and restrict blood flow. Peripheral stents are designed to support the artery's structural integrity, keep it open, and restore proper blood flow.

Market Dynamics

Several key dynamics influence the global peripheral stent implants market:

  • Growing Incidence of Peripheral Arterial Diseases: An aging population and lifestyle factors contribute to the increasing prevalence of PAD, driving the demand for peripheral stent implants.
  • Advancements in Stent Technologies: Continuous innovations in stent design, materials, and drug-eluting coatings improve their effectiveness and safety.
  • Minimally Invasive Procedures: The preference for minimally invasive treatments, such as stent implantation, reduces patient recovery time and hospital stays.
  • Rising Healthcare Expenditure: Increased healthcare spending in developing and developed regions supports the adoption of advanced medical devices like peripheral stents.
  • Patient Awareness and Access to Care: Better awareness of PAD and improved access to healthcare services contribute to early diagnosis and treatment.

Market Challenges

  • High Cost of Peripheral Stents: Peripheral stents can be expensive, especially for patients without health insurance. The high cost of peripheral stents can be a barrier to access for some patients.
  • Risk of Complications: Peripheral stent implantation is a relatively safe procedure, but there are some risks associated with it, such as blood clots, stent thrombosis, and infection. These risks can deter some patients from undergoing the procedure.
  • Stringent Regulations: Peripheral stents are medical devices and are subject to stringent regulations in different countries. The regulatory approval process for new peripheral stents can be long and expensive. This can delay the launch of new products and make it difficult for companies to enter the market.

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Competitive Landscape

The global peripheral stent implants market is a competitive market with a large number of players. The key players in the market include:

  • Abbott Laboratories
  • B. Braun Melsungen AG
  • Biotronik SE & Co. KG
  • Boston Scientific Corporation
  • Cook Medical, Inc.
  • Cardinal Health, Inc.
  • iVascular SLU
  • Medtronic Plc.
  • Terumo Corporation
  • W. L. Gore & Associates Inc.

These players offer a wide range of peripheral stents for different applications. They also offer a variety of support services, such as training and consulting.

Recent Developments

  • Medtronic: 2023- Launched a new peripheral stent called the Inforce Onyx DES, which is designed to treat blockages in the iliac and femoral arteries. The Inforce Onyx DES is coated with a new drug that is designed to reduce the risk of restenosis (re-narrowing of the artery).
  • Boston Scientific: 2023 -Received FDA approval for its Eluvia Drug-Eluting Stent System, which is designed to treat blockages in the superficial femoral artery (SFA). The Eluvia Drug-Eluting Stent System is coated with a new drug that is designed to reduce the risk of in-stent restenosis (ISR).
  • Abbot: 2023 - Announced the launch of its XIENCE Xpedition Drug-Eluting Stent System in Europe. The XIENCE Xpedition DES is designed to treat blockages in the iliac, femoral, and popliteal arteries. It is coated with a new drug that is designed to reduce the risk of ISR.
  • Terumo: 2022 - Received FDA approval for its Avenir V12 Stent System, which is designed to treat blockages in the SFA. The Avenir V12 Stent System is a self-expanding stent that is coated with a new drug that is designed to reduce the risk of ISR.

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Market Segmentations

The global peripheral stent implants market is segmented by type, application, and region.

  • By type, the market is divided into balloon-expandable stents and self-expanding stents. Self-expanding stents are the fastest-growing segment of the market, due to their advantages over balloon-expandable stents, such as easier insertion and better conformability to the vessel wall.
  • By application, the market is segmented into iliac artery stents, femoral artery stents, popliteal artery stents, and other. Iliac artery stents are the largest segment of the market, accounting for over 30% of the total revenue in 2023. This is due to the high prevalence of PAD in the iliac arteries.
  • By region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is the largest regional market, accounting for over 35% of the total revenue in 2023. This is due to the high prevalence of PAD in the region and the high adoption of advanced peripheral stent implant technologies.

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