Peripheral vascular stents are devices used to treat peripheral artery disease (PAD). The PAD is characterized by plaque building up in the arteries which in turn blocks the arteries and obstructs the blood flow to the organs, this when left untreated can lead to gangrene and in turn may require amputation of limbs, in case if the blockage occurs in carotid artery can lead to stroke. Patients suffering from PAD have high risk of having a heart attack. To treat the blocked arteries angioplasty procedures are performed in which Peripheral vascular stents are placed in the arteries after the vascular surgery or angioplasty in order to prevent the artery from closing again and helps to maintain blood flow and provide internal structural support to the artery, With the increasing prevalence of PAD globally, the demand for peripheral vascular stents is expected to witness high growth over the forecast period.
Peripheral Vascular Stents Market: Drivers and Restraints
The rising incidence and prevalence of PAD is expected to propel demand for peripheral vascular stents over the forecast period. According to the Centers for Disease Control and Prevention (CDC), approximately 8.5 million people in the U.S. suffer from PAD. Rising geriatric population is also another factor responsible for growth in demand for peripheral vascular stents, out of the total population in the U.S. suffering from PAD nearly 20% fall in the age group of 60 years and above. Development of new imaging techniques is expected to significantly improve the vascular surgeries involving placement of peripheral vascular stents and in turn is expected to increase the number of stenting procedures. Introduction of new technology based stents is also expected to boost adoption of peripheral vascular stents over the forecast period. However, high price of the peripheral stents and low awareness among the general population about PAD is expected to hamper revenue growth of peripheral vascular stents over the forecast period.
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Peripheral Vascular Stents Market: Segmentation
The global peripheral vascular stents market is segmented into three key segments, by product type, by end user and by geography.
Segmentation by product type
- Balloon Expanding Stent
- Self-Expanding Stent
- Drug Eluting Stent
- Bare Metal Stent
Segmentation by end user
- Ambulatory Surgical Centers
- Specialty Clinics
Peripheral Vascular Stents Market: Overview
The global peripheral vascular stents market is expected to witness robust growth over the forecast period owing to the rising prevalence of PAD and growing awareness and adoption of stenting procedures. Demographic factors like ageing population and leisure lifestyle of the population is expected accelerate the prevalence of PAD diseases and in turn promote revenue growth of the peripheral vascular stents market over the forecast period.
Peripheral Vascular Stents Market: Region – wise Outlook
Regionally, global peripheral vascular stents market is divided in seven key regions: North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan (APEJ), Japan and Middle East and Africa (MEA)
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Regionally North America and Western Europe are expected to be the leading markets in terms of revenue for peripheral vascular stents owing to high awareness and growth in stenting procedures performed. The high prevalence of PAD in North America and Europe regions is expected to propel demand for peripheral vascular stents in these regions over the forecast period. APEJ region is expected to witness high growth in demand for peripheral vascular stents over the forecast period. Rising prevalence of PAD, large at – risk population and growing awareness of stenting procedures in China and India is expected to boost demand for peripheral vascular stents in these region. Nearly 70% population suffering from PAD lives in middle to low income countries, therefore regions like APEJ, Latin America and MEA are expected to witness robust growth in terms of revenue. Factors like diabetic population, obesity, smoking and people suffering from hypertension are ultimately expected to contribute for growth in stenting procedures in all geographies.
Peripheral Vascular Stents Market: Key Market Participants
Some key market participants in the peripheral vascular stents market include Abbott Laboratories, Boston Scientific, C.R. Bard, Biotronik, Cook Medical, Cordis Corporation, Medtronic and others