(PharmaNewsWire.Com, February 16, 2018 ) Vascular stents market is expected to grow at a CAGR of 7.8% during forecasted period 2017-2023. Vascular stents are the devices which are used for the treatment of different artery diseases. Arterial diseases is characterized by decreasing in the diameter of the artery due to the deposition of the plaque which is mainly cholesterol or fat. Vascular stents are used to unblock the arteries and relieve the obstruction of blood flow. Different types of materials are used for the preparation of the stents. The major driving factor for the growth of global vascular stents market is increasing prevalence of cardiovascular diseases and coronary diseases.
Increase in number of angioplasty procedures, advances in the treatment of the vascular diseases, increasing obese population also contributed in the growth of the market. According to WHO, cardiovascular diseases is the cause of majority of deaths globally. Beside this number of obese population across the globe is rising continuously. In 2014, globally 39% of adults aged 18 years and over were overweight whereas 13% were obese. People are more prone to different vascular diseases due to adoption of deskbound work life, poor diet and lack of exercise. This is the major factor influencing the growth of the market. Whereas availability of alternative therapies and high cost of the vascular stents are some factors that hinders the growth of the market.
Boston Scientific Corporation (US), Abbott Laboratories (US), Medtronic, Plc (UK), Cook Medical (US), Biotronik se & co. kg (Germany), B. Braun Melsungen AG (Germany), Cordis (US), Lombard Medical Technologies (UK), Translumina GmbH (Germany), MicroPort Scientific Corporation (China), Terumo Corporation (Japan), Vascular Concepts (India), W.L. Gore & Associates (US), Meril Life Sciences Pvt. Ltd. (India).
Segmentation:
Global vascular stents market is segmented on the basis of material into metal, standard polymer and biodegradable polymer. On basis of application they are coronary artery, peripheral artery and other. On the basis of type the market is segmented into self-expanding stent, balloon expanding stent, renal artery stents, drug eluting stent and other. And on the basis of end user they are hospital, clinics, ambulatory centres.
Regional Analysis:
Geographically, North America commands market for vascular stents. Increasing obese population in North America is the major factor for the growth of the market. Beside this increasing people suffering from various cardiovascular diseases and lack of exercise also contributed in the growth of the market. Europe accounts second largest vascular stents market. While Asia Pacific is the fastest growing market due to rapid development in technology and a huge patient suffering from different vascular diseases. Middle East and Africa accounts the least share in global vascular stents market.
Global Vascular Stents Market - Competitive Analysis
Boston Scientific Corporation (US), Abbott Laboratories (US), Medtronic, Plc (UK), Cook Medical (US), Biotronik se & co. kg (Germany), B. Braun Melsungen AG (Germany), Cordis (US), Lombard Medical Technologies (UK), Translumina GmbH (Germany), MicroPort Scientific Corporation (China), Terumo Corporation (Japan), Vascular Concepts (India), W.L. Gore & Associates (US), Meril Life Sciences Pvt. Ltd. (India) are some of the prominent players at the forefront of competition in the Global Vascular Stents Market and are profiled in MRFR Analysis.
Many companies are focusing on research and development activity to improve the vascular stent products. Major companies are focusing on the development of biodegradable stents to overcome the disadvantages of other available stents. Some major has adopted strategies of acquisitions and strategic alliances for the growth of the market.
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