May 28, 2020 — The rising incidence of cardiovascular disease has prompted people to seek timely treatment to improve life expectancies. In the wake of this, the patient demand for minimally invasive, catheter-based stent procedures has accelerated because many want to avoid more invasive open heart coronary artery bypass graft (CABG) surgery.
A new stent market report from the healthcare market research firm Fact.MR indicates the arterial stent market is poised to expand at a fast compounded annual growth rate (CAGR) of 9.8% during the forecast period of 2020-2025.
Key Trends in the Arterial Stent Market:
• Coronary Stents will dominate the arterial stents market. This is because of an increasing number of coronary artery disease patients and affordability of coronary stents. Anticipated market share is three-fifths of the overall market, growing almost twofold during the forecast period.
• Simultaneously, the peripheral femoral and popliteal artery segment is set to experience robust growth of about 10.2% CAGR.
• Europe is anticipated to dominate the arterial stents market owing to strategic presence of key market players in the interventional cardiology market. This segment is expected to see 9.6% CAGR.
• Asia-Pacific is not very far behind, with a CAGR of 10.3%. Market penetration by important players and affordability of stents is projected to drive the growth of the region. Coronary Stents are anticipated to hold more than three-fifths of the arterial stents market.
Impact of COVID-19 on the Stent Market
Downsizing of production of arterial stents is anticipated, owing to the spread of the COVID-19 pandemic. Rising infection rates have shifted priority towards addressing patients with COVID-19. This has relegated non-emergency procedures to the backyard, creating a backlog of cardiac patients. However, cardiac complications arising due to the COVID-19 infection such as arrhythmia and tachycardia will be given top priority.
Important players such as Boston Scientific have been contributing significantly to mitigate the spread of the disease. The company has taken significant steps to reduce costs by optimizing manufacturing and output prices and reduction in discretionary spending. It has also undertaken monetary and supply donations along with provision of manufacturing expertise and resources.
“The arterial stents market is projected to embark on a positive growth trajectory, driven primarily by increased demand for minimally invasive surgical procedures. To that end, manufacturers are concentrating heavily on product development and expansion of their portfolio,” concludes a report analyst.
Market Players Resort to Product Distribution to Expand Market Share
Highly fragmented, the arterial stents market has more than 50 players. Out of these, three key players — Medtronic, Abbott and Boston Scientific Corp. — account for three-tenth of the total market share.
Boston Scientific is the leading player. Its product categories include coronary intervention and peripheral intervention. It specializes in drug-eluting stents such as Epic, Express and Innova, Self-expanding stents such as Synergy, Eluvia and Flexive and bare metal stents like Rebel and Promus.
Abbott Vascular offers a broad range of endovascular devices and cardiovascular stents. The products it manufactures include drug-eluting Xience Alpine and bare metal stent Xience Xpedition, the self-expanding Absolute Pro and Omnilink, and balloon-expanding RX Acculink stent.