| Increasing Preference for Minimally Invasive Surgery to Drive Growth of Global Arterial Stents Market
As per the research findings published by the American Heart Association, one of the leading cause of death in North America is coronary heart disease per year. Naturally, this has led to more number of people trying to seek timely treatment in recent years. The growing burden different cardiovascular disorders has led to patients looking out for new trends and techniques in treatment.
In order to achieve long-lasting results, patients are now growingly inclined towards undergoing minimally invasive surgical processes. In such cases, stents are becoming one of the most products to cut down the risk of restenosis post heart surgery. Taking this trend into consideration, the global arterial stents market is thus projected to witness a highly promising CAGR over the course of the given forecast period ranging from 2020 to 2025. According to the FactMR report, the global arterial stents market is projected to reach a valuation worth US$17,887.9 Mn by the fall of 2025.
However, in the immediate future, there is expected to be a downturn of production of stents. This is due to the current Covid-19 pandemic. The pandemic has affected more than 112 countries across the globe with over million reported cases. Naturally, the preference is towards treating coronavirus patients. It is expected that this will lead to the decline of non-essential cardiac procedures leading to limited use of arterial stents. Nonetheless, complications created because of Covid-19 infections will be given a high priority, thus helping to sustain the growth of the global arterial stents market.
Growing Demand for Coronary Artery Stents
Of the different segments of the global arterial stents market, the coronary artery stents segment is expected to dominate in the coming years of the forecast period. The segment is projected to acquire over three-fifth of the overall market share in the near future. The increasing number of patients with coronary artery disorder is the key factor for the development of the segment. In addition to this, the affordability of these coronary stents, particularly in the developing nations, is also expected to play an important role in driving the growth of the segment.
On the other hand, the segment of femoral & popliteal artery stents is expected to show a highly promising rate of growth in the near future. This growth of the segment is due to the increasing adoption of percutaneous coronary intervention (PCI) procedures in order to correct the anomalies in femoral arteries.
Europe to Remain Dominant in Coming Years
In terms of geographical outlook, the regional segment of Europe is projected to take a lead in the global arterial stents market. The dominance of Europe along with strategic presence of prominent companies in the interventional cardiology sectors are projected to help in driving the growth of the segment. It is expected that the regional segment will exhibit a high single digit CAGR over the course of the given forecast period. With over six out of ten patients choosing coronary artery stents because of the growing PCI procedures, the development of the Europe market is expected to remain solid in coming years.
The regional segment of Asia Pacific is projected to witness a highly promising rate of growth in the coming years of the forecast period. The key players in the global market are projected to target countries in the region to provide affordable services and generate more profits.
Some of the key players in the global market for arterial stents are Medtronic, Abbott Laboratories and Boston Scientific Corporation among others.