Market Analysis: Global Stents Market
The global stents market accounted to USD 11.34 billion in 2016 growing at a CAGR of 6.2% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Stent is a small hollow tube which is usually used for the treatment of the weak arteries or veins and is placed inside the hollow structure inside the body. Under the process called percutaneous coronary intervention (PCI), the stent is placed inside the artery. These stents are of two types- coronary and peripheral. These stents are usually made of material like metal or plastic mesh like material. Rising ging population is the major factor fueling the growth of this market.
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Key Market Competitors: Global Stents Market
Some of the major players operating in global stents-market are Abbott, B. Braun Melsungen AG, Biotronik SE & Co. KG, Boston Scientific Corporation, C. R. Bard, Inc., Elixir Medical Corporation, Medtronic , Microport Scientific Corporation, Stentys S.A., Terumo Corporation, Cook Medical, Biosensors International Group, Ltd., Hexacath, Vascular Concepts among others.
Market Definition: Global Stents Market
Stent is a small, expandable mesh tube that is used to treat narrow arteries, blood vessels, or ureter. The material and size of stent depends on for which body part it will be used. They are widely used by hospitals, cardiac centers, and other end-users.
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Major Market Drivers and Restraints:
- Rising geriatric population
- Increase in prevalence of chronic diseases
- Technological advancements in stents
- High costs for stent based treatments
- Stringent approval process for stents
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Market Segmentation: Global Stents Market
- By stent type, the global stents market is segmented into coronary, and peripheral. On the basis product type, the coronary stents segment is further sub-segmented into drug-eluting, bare-metal coronary, bioabsorbable. On the basis product type, the peripheral stents segment is further sub-segmented into iliac, femoral-popliteal, renal, carotid.
- On the basis stent-related, the global stents market is segmented into synthetic grafts, and vena cavafilters. By end user, the market for global stents-market is segmented into hospital, cardiac centers, and others.
- On the basis of geography, global stents market report covers data points for 28 countries across multiple geographies such as North America & South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, North America is expected to dominate the market.
Competitive Analysis: Global Stents Market
The global stents market is highly fragmented and is based on new product launches and clinical results of products. Hence the major players have used various strategies such as new product launches, clinical trials, market initiatives, high expense on research and development, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of global stents-market for Global, Europe, North America, Asia Pacific and South America.
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