Stents Market by Type and Material - Global Industry Analysis and Forecast to 2025

Report Code : HC0668

Coronary heart disease, renovascular hypertension, carotid artery disease, and abnormal aortic aneurysm are heart related diseases. In coronary heart disease, small blood vessels which supply blood and oxygen to the heart are narrowed. Coronary heart disease is caused due to formation of plaque and its symptoms are chest pain, fatigue and shortness of breath. In renovascular hypertension, the arteries which carry blood to the kidneys are narrowed. This condition is also known as renal artery stenosis. Causes of renovascular hypertension are building up of plaque in arteries and its symptoms are pulmonary edema, kidney dysfunction, and high blood pressure. Further, in peripheral artery disease, the blood vessels which supply the blood to legs are narrowed. Prime cause of peripheral artery disease is hardening of artery and symptoms are sores, pain and cramps. Risk factors of peripheral artery disease are diabetes, smoking, high blood pressure, and stroke. Another disease in which stents are used is abdominal aortic aneurysm. In abdominal aortic aneurysm, aorta balloons out and becomes large. Risk factors for abdominal aortic aneurysm are high blood pressure and smoking. Symptoms of abdominal aortic aneurysm are rapid heart rate, shock, and clammy skin. Moreover, in carotid artery disease, carotid arteries are narrowed which causes transient ischemic attack. Risk factors for this disease are high blood pressure, alcohol consumption, smoking, and high cholesterol.

Stents are used in diseases such as carotid artery disease, renovascular hypertension, coronary heart disease and abnormal aneurysm. A stent is a small expandable mesh tube that is placed in hollow structure in the body. The stent helps to keep the artery, blood vessel or ureter open. Stent improves the blood flow. There is also a possibility of clot formation on the surface of the stent. To avoid that anti-clotting medicines are taken. There are three types of stents, namely, coronary stents, urinary stents, and peripheral vascular stents.  Coronary stents are made up of metal mesh or fabric. These stents help to keep coronary arteries open which reduces the chance of heart attack. For using the stent, it has to be put over the balloon catheter. It will proceed to the area which has blockage. Further, the stent expands as soon as the balloon is inflated, leaving the artery open. There are two types of coronary stents, namely, drug eluting stent and bare metal coronary stents. Drug eluting stents are covered with a slow releasing medicine which stops the scar tissue from growing into the artery. Bare-metal coronary artery stents are devices which do not have medicine on them and are used in percutaneous coronary intervention. Urinary stent is used when the ureter gets narrowed. It helps in holding the ureter. In case of urinary stone formation in kidney, urinary stent is used. The urinary stent allows the urine to flow out normally.

Increase in the prevalence of chronic disease and rapidly ageing population are the major factors for the market growth. According to WHO, in 2015, 900 million people were 60 years of age or older and this number is expected to reach up to 2 billion by 2050. Moreover, the technological improvements related to stents and the increase in acceptance of medical implants by the doctors and patients will further boost the growth of the stents market. However, the high cost associated with stents will hamper the growth of market in developing countries. Moreover, strict regulatory process for the approval of stents will also impede the growth of stents market.

The key strategy followed by the major players in stents market is product launch to become a pioneer in the market and gain more share. For instance in July 2016, FDA approved Absorb, a bioresorbable stent from Abbott Laboratories. It is the only fully dissolving heart stent. It will offer treatment options to candidates who are going for angioplasty but do not prefer permanent coronary stent. The launch of Absorb will help Abbott Laboratories to become a pioneer in the market and gain more share.

The major players in stents market are B. Braun Melsungen AG, Boston Scientific Corporation, TERUMO COPORATION, MicroPort Medical Co., Ltd, Abbott Laboratories, BIOTRONIK, Inc., Elixir Medical Corporation, STENTYS S.A., and Medtronic.

Stents Market Segmentation:

By Type:

  • Synthetic Grafts
  • Bioabsorbable Stents
  • Coronary Stents
  • Vena Cava Filters
  • Iliac
  • Renal
  • Drug-eluting Stents (DES)
  • Stent-related Implants
  • Carotid
  • Peripheral Stents
  • Bare-metal Coronary Stents

By Material:

  • Natural Biomaterials
  • Polymers Biomaterials
  • Metallic Biomaterials

By Region:

  • North America
  • U.S
  • Canada
  • Mexico
  • Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest of Europe
  • Asia-Pacific
  • Japan
  • China
  • Australia
  • India
  • South Korea
  • Rest of Asia-Pacific
  • Rest of the World
  • Brazil
  • South Africa
  • Saudi Arabia
  • Turkey
  • United Arab Emirates
  • Others

Research Methodology

We use both primary as well as secondary research for our market surveys, estimates and for developing forecast. Our research process commence by analyzing the problem which enable us to design the scope for our research study. Our research process is uniquely designed with enough flexibility to adjust according to changing nature of products and markets, while retaining core element to ensure reliability and accuracy in research findings. We understand both macro and micro-economic factors to evaluate and forecast different market segments.

Data Mining

Data is extensively collected through various secondary sources such as annual reports, investor presentations, SEC filings, and other corporate publications. We also refer trade magazines, technical journals, paid databases such as Factiva and Bloomberg, industry trade journals, scientific journals, and social media data to understand market dynamics and industry trends. Further, we also conduct primary research to understand market drivers, restraints, opportunities, challenges, and competitive scenario to build our analysis.

Data Collection Matrix

Data Collection Matrix

Supply Side

Demand Side

Primary Data Sources

  • Manufacturers
  • Distributors & Wholesalers
  • GPOs
  • Physicians/Specialist
  • Healthcare Providers
  • Consumers

Secondary Data Sources

  • Annual Reports/SEC Filings/ Investor Presentations/ Press Releases
  • Government/Associations Publications
  • Case Studies
  • Reference Customers

 

Market Modeling and Forecasting

We use epidemiology and capital equipment-based models to forecast market size of different segments at country and regional level.

  • Epidemiology-based Forecasting Model: This method uses epidemiology data gathered through various publications and from physicians to estimate population of patients, flow of treatment of individual disease and therapies. The data collected through this method includes statics on incidence of disease, population suffering from disease, and treatment population. This method is used to understand:
  • Number of patients for particular device or medical procedure and
  • Repeated use of particular device depending on health and condition of patient
  • Capital-based Forecasting Model: This method of forecasting is based on number of replacements, installed-based and new sales of capital equipment used in various healthcare and diagnostic centers. These three parameters are calculated and forecast is developed. Installation base is calculated as average number of units per facility; while sales for particular year is calculated from number of new and replace units. Secondary data is collected through various supply chain intermediaries and opinion leaders to arrive at installation and sales rate. These techniques help our analysts in validating market and developed market estimates and forecast.

We do forecast on basis of several parameters such as market drivers, market opportunities, industry trends government regulations, raw materials supply and trade dynamics to ensure relevance of forecast with market scenario. With increasing need to granulized information, we used bottom-up methodology for forecasting where we evaluate each regional segment differently and combined all forecast to develop final market forecast.

Data Validation

We believe primary research is a very important tool in analyzing and forecasting different markets. In order to make sure accuracy of our findings, our team conducts primary interviews at every stage of research to gain deep insights into current business environment and future trends and key developments in market. This includes use of various methods such as telephonic interviews, focus groups, face to face interviews and questionnaires to validate our research from all aspects. We validate our data through primary research from key industry leaders such as CEO, product managers, marketing managers, suppliers, distributors, and consumers are frequently interviewed. These interviews provide valuable insights which help us to have better market understanding besides validating our estimates and forecast.

Data Triangulation

Industry Analysis

Qualitative Data

Quantitative Data (2017-2025)

  • Market Dynamics (Drivers, Restraints, and Challenges)
  • Industry Trend Analysis
  • Market Opportunities
  • Government Policies and Regulations, Patent Analysis, and Reimbursement Policies
  • Porter’s Five Forces and PESTLE Analysis
  • Key Developments and Competitive Landscape
  • Market Assessment and Forecast
  • Market Assessment and Forecast, By Product
  • Market Assessment and Forecast, By Technology
  • Market Assessment and Forecast, By Application
  • Market Assessment and Forecast, By End User
  • Market Assessment and Forecast, By Region/Country

Licesnces Type

For Any Further Assistance

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