ALBANY, New York, January 8, 2019
ALBANY, New York, January 8, 2019 /PRNewswire/ --
According to TMR reports, the global arterial stents market is estimated to reach a value of US$17.8 bn by the end of the forecast period. The CAGR is anticipated to be 9.5% and the forecast period is set from 2017 to 2025. On the basis of segmentation by application, the market is seen to be dominated by the coronary artery sub segment. This is owing to the rise in the number of unusual and new coronary artery that contributes lion's share to the overall market. The coronary artery segment is further prophesized to continue dominating the market in the long run.
Geographically, the global arterial stents market is expected to be dominated by European region as per the previous records of 2016. Europe is leading because it serves as the base for key arterial stents production in the regions of Germany, and U.K. Moreover, the rise in the number of invasive surgeries is also propelling the market in Europe.
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Surging Demand for Minimally-Invasive Surgeries to Boost Market Growth
The rise in the number of cardiovascular diseases is boosting the overall market for arterial stents in the past years. Additionally, the demand for arterial stents is on the rise because of the number of arterial disorders especially atherosclerosis. Betterment of treatment facilities is also increasing the demand for arterial stents in the global market.
Another factor propelling the overall market for arterial stents is surge in demand for minimally invasive surgeries. It is common among patients who need to widen their narrowed arteries. Furthermore, the increasing popularity of percutaneous coronary interventions for coronary artery revascularization has also increased the uptake of arterial stents in most of the developing as well as developed economies, thus, accelerating market growth.
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Furthermore, the market in Asia Pacific region is also predicted to be the fastest growing region in the upcoming years due to the entry of major players into the region. Major vendors are investing large amount of finances in order to improve and modernize the medical and healthcare sector in developing nations of China and India.
Lack of Proper Infrastructure to Restrict Market Growth
The market may have to face certain obstacles in the growth of the market for arterial stents. Lack of skilled professionals in terms of interventional cardiologists may hamper the market. Apart from that, lack of professional interventional cardiologists who have expertise over deploying stents may also cause a hindrance to the overall growth of the market. Another factor restricting growth of the market is the lack of proper healthcare infrastructure and medical facilities in order to treat diseases with technological advancement.
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The global arterial stents market is anticipated to grow at a promising rate in the coming years as per the reports by Transparency Market Research (TMR). This growth is due to the rise in the number of age old population and their surging arterial diseases like claudication, atheroma, critical limb ischemia, hypertension, coronary artery diseases and cardiovascular diseases. The market could witness a massive influx of both small and large players, thus making the competitive landscape of the market highly fragmented. Major players are working on different strategies in order to dominate and also attract more revenue into the market. On the other hand, the international vendors are making it more difficult for new entrants to establish their position in the market.
Important players of the global arterial stents market are Cook Medical, Medtronic plc. Boston Scientific Corporation, Abbott Laboratories, Gore Medical, and Lifetech Scientific Corporation. Due to the existence of both small and large players in the market, small players are focusing on collaboration and merging strategies in order to survive in the market since large vendors are making it difficult for them. All players are stimulating effective clinical trials in order to check how general public react to innovation and how well the preference increases.
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The information presented above is based on the findings of a research report, titled, "Arterial Stents Market (Product - Coronary Stents (Bare Metal Stents, Drug-eluting Stents, and Bioresorbable Stents) and Peripheral Stents (Self-expandable Stents and Balloon-expandable Stents); Application - Coronary Artery, Carotid Artery, Iliac Artery, and Femoral & Popliteal Artery) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017 - 2025".
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