According to FMI’s most recent industry analysis, the global Peripheral Vascular Stents Market was worth roughly US$ 3.5 billion in 2021 and is predicted to be worth US$ 5.3 billion by 2028, rising at a CAGR of 6% from 2022 to 2028.
The sales of peripheral vascular stents currently account for 33.3% of the worldwide cardiovascular stents market. Demand for self-expanding stents, which account for the majority of market share, is expected to rise at a CAGR of 6.6% over the projection period.
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Over the projection period, the segment is expected to increase at a rate greater than 6.6% CAGR. North America is likely to maintain its global market dominance due to the regulatory clearance of various innovative devices, such as drug eluting stents, in the United States, Europe, and Japan.
The growing awareness of peripheral operations and the prevalence of peripheral artery disease in developing nations such as India and Brazil continues to drive demand for peripheral vascular stents. Other significant factors projected to boost the growth of the global peripheral vascular stents market include an increase in the number of end users and an increase in the number of ambulatory surgical centres.
An intravascular stent is a synthetic tubular mesh device that is implanted permanently in the graft or native vasculature. A stent is primarily intended to give mechanical radial support after placement; the support is intended to promote vascular patency over the device’s lifetime. A balloon or self-expanding mechanism expands the stent once it has been implanted in the desired spot.
Global Peripheral Vascular Stents Market: Segmental Forecast
The global market for peripheral vascular stents has been categorised by product type, artery type, end user, and geography. Globally, manufacturers anticipate that self-expanding stents would be the most appealing segment. Although there is a significant demand for drug eluting stents and the sector leads in terms of market volume during the projection period, the product type segment’s revenue contribution will be minimal. Because of the increased frequency of peripheral artery disease in many nations around the world, the iliac artery segment is predicted to have the highest demand for peripheral stents among all arterial types.
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Global Peripheral Vascular Stents Market: Regional Analysis
In terms of value, the worldwide peripheral vascular stents market is estimated to grow at a 6.6% CAGR from 2022 to 2028. North America dominated the worldwide peripheral vascular stents market in 2021, with over 48.5% market share, owing in part to the penetration of recently approved drug eluting stents in the US. Western Europe is predicted to be the world’s second largest market, with the United Kingdom, Italy, France, and Germany experiencing rapid expansion. Because of improved vaccination access and the availability of cost-effective operations, APEJ is predicted to be the second largest market for peripheral vascular stents.
Global Peripheral Vascular Stents Market: Competition Tracking
The market for peripheral vascular stents is consolidated with few players contributing over 55% of revenue share. The key players identified in the global market include Medtronic Plc., Becton, Dickinson and Company, Cardinal Health, Inc., B. Braun Melsungen AG, MicroPort Scientific Corporation, Boston Scientific Corporation, BIOTRONIK SE & Co. KG, Abbott Laboratories, W.L. Gore & Associates Inc., and Cook Medical Inc., among others. Acquisition of established products to gain immediate growth is the key strategy adopted by key players in the market.
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Market Segmentation:
Peripheral Vascular Stents Market by Product Type:
- Self-Expanding Stents
- Balloon-Expanding Stents
- Covered Stents
- Drug-Eluting Stents
Peripheral Vascular Stents Market by Artery Type:
- Carotid Artery
- Fem-Pop Artery
- Iliac Artery
- Infrapop Artery
Peripheral Vascular Stents Market by End User:
- Hospitals
- Ambulatory Surgical Centers/Outpatients
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