According to the latest industry analysis by Future Market Insights, the global venous stents market is currently valued at approximately US$ 990.5 million in 2023. With an impressive projected compound annual growth rate (CAGR) of 8.4%, the market is anticipated to reach an estimated US$ 2.2 billion by the year 2033. This significant growth trajectory underscores the increasing demand and expanding applications of venous stents in the medical field.
The market’s robust growth is largely driven by the escalating burden of venous diseases and a global increase in the aging population. These factors are compounded by substantial investments from manufacturers in research and development activities aimed at creating technologically advanced venous stents.
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Venous diseases, characterized by a range of symptoms from minor changes in reticular veins to severe venous ulcers, affect a substantial segment of the population. These disorders can lead to severe disabilities, highlighting the critical need for effective therapeutic solutions such as venous stents.
The growth of the venous stents market is further propelled by technological innovations introduced by key market players. These advancements aim to enhance the efficacy and safety of stent procedures, ultimately improving patient outcomes in the treatment of chronic venous disorders.
This market insight underscores the growing importance and reliance on venous stents as essential medical devices in the vascular surgery space. With continuous advancements and increasing prevalence of venous diseases, the venous stents market is set to offer promising opportunities for healthcare providers and manufacturers in the upcoming decade.
Key Takeaways from Market Study:
- Nitinol material held the market share of5% in the global market 2022 because of its benefits over other materials and increasing popularity in treating venous diseases.
- Chronic Deep Vein Thrombosis (DVT) has a market share of 6% in the global market 2022 owed to increasing prevalence of chronic DVT.
- Open cell stent design held 88.1% value share globally in 2022 as it allows for greater flexibility and conformability to the shape of the vein.
- Introducer size no – 09 dominated the global market with value share of 4% in 2022 as it is large enough to accommodate larger stents, necessary in cases where the stenosis (narrowing) in the vein is severe.
- Hospitals held a market share of 9% in the global market 2022 as they employ skilled healthcare professionals, and adoption of advanced technology.
- North American region dominated the global market with U.S. contributing around US$ 301.9 Million in 2022 due to increasing technological development and increasing healthcare expenditure.
“Growing geriatric population, use of minimally invasive procedures, rising prevalence of venous disorders, advancements in venous stent development, and government investments in new product development factors are driving the global venous stents market”, says an analyst of Future Market Insights.
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Market Competition:
The key players in the market are actively working to improve their positions through product approvals, partnerships, acquisitions, launches, collaborations, and agreements with both existing and up-and-coming market participants. A manufacturer’s chances of capturing a sizable market share are significantly increased by acquisitions and partnerships.
A few examples of strategies acquired by the key players:
- In July 2021, BIOTRONIK obtained Food and Drug Administration USFDA approval for novel peripheral self-expanding stent Pulsar-18 T3. This new, improved stent is beneficial for endovascular treatments.
- In March 2022, Cordis Corporation got USFDA approval for S.M.A.R.T. RADIANZ Vascular Stent System. This novel stent has use on radial peripheral procedures. It allows for the precise, effective implantation of stents in the superficial femoral (SFA) and iliac arteries.
What Does the Report Cover?
Future Market Insights offers a unique perspective and actionable insights on the venous stents market in its latest study, presenting a historical demand assessment of 2018–2022 and projections for 2023–2033. The venous stents market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
Key Companies Profiled:
- Becton, Dickinson and Company
- Cook Group Inc.
- Boston Scientific Corporation
- Medtronic
- Koninklijke Philips N.V. (Vesper Medical Inc.)
- Optimed Medizinische Instrumente GmbH
- plus medica GmbH & Co. KG
- Abbott Laboratories, Inc.
Key Market Segments Covered in the Venous Stents Industry Research:
Material:
- Nitinol
- Elgiloy
Indication:
- Chronic Deep Vein Thrombosis
- Post-Thrombotic Syndrome (PTS)
- May-Thurner’s Syndrome (MTS)
- Pelvic Congestion Syndrome (PCS)
- Others
Stent Design:
- Braided
- Open Cell
- Closed Cell
- Hybrid
Introducer Size:
- Size 6
- Size 7
- Size 8
- Size 9
- Size 10
End User:
- Hospital
- Ambulatory Surgery Centers
- Specialty Clinics
- Cardiac Catheterization Labs
Region:
- North America
- Latin America
- East Asia
- South Asia & Pacific
- Western Europe
- Eastern Europe
- Central Asia
- Russia & Belarus
- Balkan & Baltic Countries
- Middle East and Africa
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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