Therapeutic Stents Market: North America to Account for Major Share of Market
Global Therapeutic Stents Market: Introduction
Stents are tubular type implants that are deployed most commonly to recover the shape of narrowed arterial segments. The stent scaffolds the artery open, improving blood flow. The stent is expanded, flattening the plaque against the artery wall and holding the artery open with a mesh tube. The catheter used to deliver the stent is then removed, but the stent stays in the artery permanently to maintain healthy blood flow.
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The stent can occlude, causing reduced and/or no blood flow to the area. The insertion site may bleed or become infected. In-vivo testing verified the biocompatibility and biofunctionality of the implanted stents and analysis of the results led to clear measures to refine the stent design and processing for enhanced properties as well revisions to the implantation techniques to better suit the characteristics of the new stent.
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Key Drivers of Global Therapeutic Stents Market
Rise in geriatric population
According to World Population Ageing 2017, the global population aged 60 years or over numbered 962 million in 2017, more than twice as large as in 1980 when there were 382 million geriatric people worldwide. The number of geriatric people is expected to double again by 2050, when it is projected to reach nearly 2.1 billion. In 2050, geriatric persons are expected to account for 35% of the population in Europe, 28% in Northern America, 25% in Latin America and the Caribbean, 24% in Asia, 23% in Oceania and 9% in Africa. The geriatric population of developing regions is increasing at a more rapid pace, as compared to the geriatric population in developed regions.
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Technological advancements in stents
Stent technology has rapidly evolved since the first stainless steel bare metal stents with substantial developments in drug choice, scaffolding, drug delivery, polymer, and elution mechanisms. According to Wainscot Media, companies such as Biosensors and Abbott are developing biodegradable and bifurcated stents to deal with concerns about thrombosis caused by long-term device implantation and to expand the type of treatable lesions, including those located at vessel branches. The penetration of bioabsorbable stents is likely to be limited by a lack of long-term safety data, and the fact that their expected average selling price (ASP) is expected to be much higher than traditional stents. In 2008, Biosensors International’s BioMatrix stent received CE mark approval.
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North America to Account for Major Share of Global Therapeutic Stents Market
North America is projected to account for a major share of the global therapeutic stents market during the forecast period. The market in the region is anticipated to expand at a rapid pace in the next few years due to an increase in research & development and various government initiatives for the development of novel ideas. Europe is expected to be the second-largest market, globally, during the forecast period.
The therapeutic stents market in Asia Pacific is likely to expand at a high CAGR during the forecast period. This can be attributed to a rise in investment in research & development by private & government organizations and increase in healthcare management in the region.
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Key Players Operating in Global Therapeutic Stents Market
The global therapeutic stents market is highly consolidated owing to the presence of a small number of key players. Leading players operating in the global therapeutic stents market include:
- Abbott Laboratories
- B. Braun Melsungen AG
- Biotronik SE & Co. KG
- Boston Scientific Corporation
- C.R. Bard, Inc.
- Elixir Medical Corporation
- Medtronic plc
- Microport Scientific Corporation
- STENTYS SA
- Terumo Corporation
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