San Francisco, California, December 06, 2017: A recently added market study by TMR Research, titled, “Stents Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017–2025,” attempts to educate stakeholders on how best to bet on the market. To that end, it presents a detailed analysis of the growth drivers, restraints, trends, and competitive dynamics in the market. It also throws light on the size of the market and the various segments in it.
Stents, typically in the form of tiny mesh of wires, primarily help open up blocked or narrowed arteries to facilitate the flow of blood again from the heart to other parts of the body, or vice versa. They bring down the risk of heart attack and death caused by it. This lifesaving function of stents have led to their rapid uptake. Increasing instances of cardiovascular diseases and respiratory disorders and surging cholesterol levels in people are pushing up demand for stents dramatically. Stents also find application in opening of bile ducts, lungs airways, and tubes carrying urine to the bladder from the kidney.
Other factors fuelling the demand for stents are the constant thrust on product development that has led to the emergence of technologically advanced stents, improving healthcare infrastructure in developing economies, supportive reimbursements policies, and proliferation of insurance schemes covering them.
Acting as a deterrent to the market, on the other hand, are the risks associated with the insertion of stents. It can cause blood clots, allergic reactions, soreness, infection of the vessel, re-narrowing of an artery, and even growth of kidney stones in case of ureters stents. Apart from that, caps on their prices to make them more affordable for patients is also serving to restrict their growth in the market. Stringent approval process for stents is another restraint.
However, the rising number of approvals of new stents is predicted to help overcome such challenges to place the market on a steady growth path. The different types of stents purveyed in the market are coronary stents, urinary stents, urethral and prostatic stent, peripheral vascular stents, stent grafts, etc.
Geographically, the main segments of the global market for stents are North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa. Of them, Europe and North America are prominent markets on account of a superior healthcare system firmly in place and also because of the massive spends on medical research which has led to frequent unveiling of more cutting-edge products.
Developing economies in Asia Pacific with large populations and growing occurrence of cardiovascular diseases are also an attractive market for stents. India and China are at the forefront of driving growth in the Asia Pacific market. Other important contributors are Japan and Australia.
Eurocor GmbH, Medtronic, Inc., OrbusNeich, Cordis Corporation, Bioring SA, Micell Technologies, Inc., Sahajanand Medical Technologies Pvt. Ltd., MIV Therapeutics, Inc., Abbott Laboratories, and Boston Scientific Corporation are to name a few of the key companies operating in the global market for stents.
At present, the global market for stents is highly fragmented on account of the presence of a copious number of players both at the regional and international levels. In order to stay ahead of the curve in such a competitive market, they are taking the inorganic route of mergers, acquisitions, and partnerships.
Get Sample Copy of this Report