Vascular Devices are used in the treatment of diseased blood vessel in heart and brain. Peripheral Arterial Disease (PAD) is the most common form of vascular disease which is characterized by the accumulation of plaque in the arteries which carrier blood from the heart to other parts of the body. Atherosclerosis is the primary indication for PAD globally. Other risk factors related to PAD include Smoking, High blood pressure, Diabetes and High cholesterol.
Peripheral Arterial Disease is most common in the lower extremity region. The diagnosis and treatment of PAD varies from individual to individual. Treatment of PAD can be performed surgically or by minimally invasive procedures. Use of the vascular stents is the usual and widely accepted form of treatment for PAD.
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The global prevalence of PAD is around 3-12%. More than 200 million people globally are suffering from PAD. AS per CDC, approximately 8 million people in the United States have PAD, including 12-20% of individuals older than age 60.
With the aging population, there is a rising prevalence in the Peripheral Arterial Disease. PAD patients are at high risk for cardiovascular disease, with age affecting up to more than 20% of the patients. Stents manufacturers are continuously focusing on the technology and launching of new devices such as Drug-Eluting Stents as minimally invasive procedures are widely accepted across the globe.
Development in imaging techniques, there is significant improvement in accuracy and safety in vascular surgery implantations resulting in increase in the number of stenting procedures.
However, high cost of these stents and procedures act as a major barrier for this market.
Global vascular market is further segmented into following types:
- Fem-pop Artery Stents
- Iliac Artery Stents
- Renal Artery Stents
- Carotid Artery Stents
- Infra-pop Stents
With rapid technological advancement and wide acceptance of stenting procedures among patients with PAD, the global vascular stents market is expected to witness a significant growth in the forecast period (2015-2025).
Depending on geographic regions, global vascular stents market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific excluding Japan, Japan and Middle East & Africa.
North America dominates the global vascular stents market due to the significant spending power of large segments of the population and technological advancement. With the increase in procedure volumes and Europe‘s healthy reimbursement system, this market is expected to experience a rapid growth. Asia-Pacific is the fastest emerging market for global vascular stents because the cost of surgery is reasonable as compared to other regions.
Some of the key market players in global laparoscopic devices market are Cordis Corporation, Abbott Vascular, Inc., Boston Scientific Corporation, C.R.Bard, Inc, Covidien Plc, Cook Medical and W.L. Gore & Associates
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