The global Peripheral Vascular Stents Market Sales was valued at roughly US$ 3.5 billion in 2021 and is predicted to be worth approximately US$ 5.3 billion by 2028, increasing at a CAGR of 6% between 2022 and 2028, according to FMI’s most recent market analysis.
Currently, peripheral vascular stent sales account for 33.3% of the worldwide cardiovascular stents market. The demand for self-expanding stents, which accounts for the majority of market share, is expected to grow at a CAGR of 6.6% over the forecast period.
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Over the projection period, the segment is expected to increase at a rate greater than 6.6% CAGR. North America is expected to maintain its global market dominance because to regulatory approvals for several innovative devices, such as drug eluting stents, in the United States, Europe, and Japan.
Demand for peripheral vascular stents is being driven by growing awareness of peripheral operations as well as the prevalence of peripheral artery disease in developing nations such as India and Brazil. An increase in the number of end users and ambulatory surgery centres is another significant factor projected to fuel the growth of the global peripheral vascular stents market.
A tubular mesh device that is permanently implanted in the graft or native vasculature is known as an intravascular stent. After implantation, the primary aim of a stent is to provide mechanical radial support, which is supposed to improve vascular patency over the device’s lifetime. Once implanted in the desired area, the stent is extended by a balloon or self-expanding mechanism.
Global Peripheral Vascular Stents Market: Segmental Forecast
The global market for peripheral vascular stents has been divided into four segments: product type, artery type, end user, and geography. Manufacturers expect that self-expanding stents will be the most appealing sector globally. Despite the fact that drug eluting stents are in high demand and the sector leads in terms of market volume over the forecast period, the product type segment’s revenue contribution will be limited. The iliac artery segment is expected to have the highest demand for peripheral stents among all arterial types because to the rising prevalence of peripheral artery disease in several countries throughout the world.
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Global Peripheral Vascular Stents Market: Regional Analysis
The global peripheral vascular stents market is expected to increase at a 6.6% CAGR from 2022 to 2028. With approximately 48.5% market share in 2021, North America dominated the global peripheral vascular stents market, owing in part to the uptake of recently approved drug eluting stents in the US. Western Europe is expected to be the world’s second largest market, with strong expansion in the United Kingdom, Italy, France, and Germany. APEJ is expected to be the second largest market for peripheral vascular stents due to enhanced immunisation access and the 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.
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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
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