San Francisco, California, April 09, 2018: A recently added market study by TMR Research, titled, “Stents Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017–2025,” discusses the market for the lifesaving tubes placed inside blocked arteries to make way for the passage of blood.
It finds that the alarming rise in occurrence of cardiovascular diseases, respiratory disorders, and cholesterol levels have generated massive demand for stents. Such health conditions are mainly a result of unhealthy eating habits such as smoking, drinking alcoholic beverages, and eating calorie-laden food. This coupled with a sedentary lifestyle has propelled cases of obesity, hypertension, and others that can cause blocked arteries.
Despite the lifesaving effects of stents, there are few drawbacks they suffer from that is crimping their sales. One of them is the soreness, blood clots, vessel infections, and allergic reactions their insertion into the body can cause. Besides, they can also lead to re-narrowing of an artery or development of stones in the kidney if placed in the ureters. However, the benefits of getting a stent far outweighs the advantages of not getting one. This is because blocked vessels causing limited blood supply can prove fatal.
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Other issues with stents are their steep costs and the stringent approval process for new products. But a rising population of the elderly and an improved reimbursement scenario is expected to help overcome the hiccups to place the market on a steady growth trajectory.
Among the various kinds of stents available in the market these days, the coronary stents are seeing maximum sales. Continued technological progress leading to more evolved versions, growing number of percutaneous coronary intervention (PCI) procedures, rising demand for minimally invasive methods, and an alarming increase in coronary artery diseases is leading to their higher demand in the market. The coronary stents can be further classified into drug-eluting stents, bare-metal stents, and bioabsorbable stents. Of them, the bioabsorbable stents are witnessing massive sales.
From a geographical perspective, North America and Europe are key regions in the global market for stents. Popularity of new types of products, namely bioresorbable stents have resulted in surging sales in the region. Apart from the two regions, Asia Pacific is another emerging market which is being eyed by savvy players due to the bettering healthcare infrastructure in the region and rising instances of cardiovascular complications owing changing lifestyles of people.
Vis-à-vis competition, the global market for stents is choc-o-bloc with companies of various sizes making the landscape both fragmented as well as highly cutthroat. This has led to a consolidating pattern in which bigger players are seen acquiring their smaller yet promising counterparts. They are also resorting to partnerships to tap into synergies. Some of the prominent participants in the market are OrbusNeich, Medtronic, Inc., Eurocor GmbH, Sahajanand Medical Technologies Pvt. Ltd., Cordis Corporation, MIV Therapeutics, Inc., Micell Technologies, Inc., Bioring SA, Boston Scientific Corporation, and Abbott Laboratories.