According to the latest research report by Future Market Insights (FMI), the global peripheral vascular stent market is anticipated to reach a valuation of USD 4,267.70 million in 2024. The market is projected to experience significant growth, expanding at a robust Compound Annual Growth Rate (CAGR) of 7.60% over the next decade.
The surge in the peripheral vascular stent market is largely attributed to ongoing innovations in stent designs and materials, which enhance their effectiveness in medical procedures. Manufacturers are actively expanding their market presence by introducing advanced peripheral vascular stents, responding to the increasing demand driven by a rise in peripheral artery disease (PAD) and the need for improved treatment solutions.
According to revenue analysis of the peripheral vascular stent market by FMI analysts for the year 2034, the market is expected to surpass USD 8,878.00 million.
Peripheral Artery Disease and Aging Population Drive Demand
The increasing prevalence of PAD, a condition that affects blood flow in the arteries of the legs and arms, is a significant driver of market growth. As the population ages, the risk of PAD also increases, leading to a greater demand for peripheral vascular stents as a treatment option.
Minimally Invasive Procedures Gaining Traction
The growing adoption of minimally invasive procedures for peripheral vascular interventions is another factor contributing to market expansion. These procedures offer patients faster recovery times and less discomfort compared to traditional open surgery. Peripheral vascular stents play a crucial role in these minimally invasive techniques.
Global Peripheral Vascular Stents Market: Segmental Forecast
The global peripheral vascular stents market has been segmented on the basis of product type, artery type, end user and regions. Globally, the self-expanding stents is expected to be the most attractive segment from the manufacturers’ point of view. Although there is a high demand for drug eluting stents and the segment leads in terms of market volume in the forecast period, high price of drug eluting stents would lead to low revenue contribution of the product type segment. Among all the artery types, high demand of peripheral stents is expected to come from iliac artery segment due to growing prevalence for peripheral artery disease in many countries across the globe.
Global Peripheral Vascular Stents Market: Regional Analysis
In terms of value, the global peripheral vascular stents market is expected to expand at 6% CAGR over the forecast period of 2022–2028. With nearly 48.5% market share, North America dominated in the global peripheral vascular stents market in 2021, partly due to penetration of newly approved drug eluting stents in the U.S. Western Europe is expected to be the second large market globally, with the U.K., Italy, France and Germany being countries with high growth rates. APEJ is expected to be the second large market for peripheral vascular stents, primarily due to improving immunization access and availability of cost-effective surgeries.
Global Peripheral Vascular Stents Market: Competition Tracking
The market for peripheral vascular stents is consolidated with few players contributing over 55% of revenue share. The key players identified in the global market include Medtronic Plc., Becton, Dickinson and Company, Cardinal Health, Inc., B. Braun Melsungen AG, MicroPort Scientific Corporation, Boston Scientific Corporation, BIOTRONIK SE & Co. KG, Abbott Laboratories, W.L. Gore & Associates Inc., and Cook Medical Inc., among others. Acquisition of established products to gain immediate growth is the key strategy adopted by key players in the market.
Key Companies Profiled:
- Medtronic Plc.
- Cardinal Health, Inc.
- B. Braun Melsungen AG
- MicroPort Scientific Corporation
- Boston Scientific Corporation
- BIOTRONIK SE & Co. KG
- Abbott Laboratories
- W.L. Gore & Associates Inc.
- Cook Medical Inc.
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Market Segmentation:
Peripheral Vascular Stents Market by Product Type:
- Self-Expanding Stents
- Balloon-Expanding Stents
- Covered Stents
- Drug-Eluting Stents
Peripheral Vascular Stents Market by Artery Type:
- Carotid Artery
- Fem-Pop Artery
- Iliac Artery
- Infrapop Artery
Peripheral Vascular Stents Market by End User:
- Hospitals
- Ambulatory Surgical Centers/Outpatients
Peripheral Vascular Stents Market by Region:
- North America Peripheral Vascular Stents Market
- Latin America Peripheral Vascular Stents Market
- Europe Peripheral Vascular Stents Market
- East Asia Peripheral Vascular Stents Market
- South Asia & Pacific Peripheral Vascular Stents Market
- Middle East & Africa (MEA) Peripheral Vascular Stents Market
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