Increasing Consumption of cholesterol-rich food and smoking habits coupled with the rising incidence of coronary artery diseases (CAD) is anticipated to drive the Stents Market during the forecast period 2021-2026. Stents Market is Estimated To Grow At A CAGR of 5.21% During The Forecast Period 2021-2026.
The Stents Market is growing at a significant rate as there has been a rapid increase in population with cholesterol-rich diet and smoking habits coupled with the rising incidence of coronary artery diseases (CAD) since the last decade. The changing lifestyle and the rising elder population with their eating habits are resulting in high cholesterol intake. Moreover, the increase in the population of smokers is analyzed to further add up the risk of atherosclerosis along with hypercholesterolemia, which is estimated to drive the stent market in the future. The significant share of the population with improper food and smoking habits requires coronary and peripheral angioplasty to reopen the blocked arteries. When there is more than enough cholesterol in the body it builds up in the walls of arteries, resulting in narrowed arteries and slow down or blockage of blood flow, which is likely to propel the growth of the market. Smoking tobacco and cholesterol-rich food adversely affect the functioning of the cardiovascular system resulting in a rising incidence of coronary artery diseases (CAD), which is fueling the growth of the market.
According to WHO, cardiovascular disease (CVDs) is the number 1 cause of death globally and it is estimated that 17.9 million deaths are attributed to CVDs each year representing 31% of death globally. Similar data were reported by the Australian Institute of Health and Welfare (AIHW) in which CVDs were the underlying cause of 580,300 deaths in 2019. Peripheral Artery Disease (PAD) has also contributed to 8.5 million deaths in the U.S alone and this data is all set to increase owing to the rising geriatric population. Age plays a crucial role in the deterioration of cardiovascular function, rusting to an elevated risk of cardiovascular disease (CVD) in older adults. The incidence of CVD has also been shown to rise with age, both in men and women, including the prevalence of atherosclerosis, stroke, and myocardial infarction. The American Heart Association (AHA) estimates that the prevalence of CVD in men and women in the U.S is ~40% from 40-59year of age, ~75% from 60-79 year of age, and ~86% from those over 80 years of age. Thus, the rising geriatric population is driving the growth of the market owing to the growing prevalence of CVD in their age group.
Americas region holds a major share of the stents market owing to the minimally invasive surgeries and increasing the population of people suffering from CVD and other high-risk factors requiring stenting procedures. In addition, technological advancements in stent technologies during the past three decades, such as bifurcated stents and the use of biodegradable materials, have further augmented market growth. The stent market in the region is growing rapidly owing to an improved healthcare system, growing economy, and ageing population among others, besides the presence of many interventional Cardiologists result in a strong stent market in this region. Rising investments by the key players, increasing research and development activities are the factors set to avail new growth opportunities to the Stents market during 2021-2026.
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Stents Market Growth Drivers:
- Development of Bioresorbable Vascular Scaffolds (BVS)
Traditional stents manufactured from metal mesh remain permanently in the body or unless removed through surgical intervention but bioresorbable vascular scaffolds are biodegradable, therefore, they completely disappear over time. Additionally, the risk of restenosis using metallic stents and the drug-eluting stent has elevated the need for bioabsorbable stents thereby driving the market. BVS drug elution avoids non-intimal proliferation compared to drug-eluting stents, and complete bio-resorption is consistent with late vessel lumen enlargement, plaque regression, and vasomotion, owing to which BVS is set to boost the market growth during the forecast period 2021-2026.
- Recovery Time of Stents is Shorter Compared to Open-Heart Surgery
The recovery time for Percutaneous Coronary Intervention (PCI) is significantly lesser than the open-heart surgeries and by-pass surgeries. It takes only a few days to recover from stenting, whereas bypass surgery takes more than six weeks or even longer to recover from it, which is likely to fuel the market growth. PCI can be performed in a shorter interval of time than by-pass surgery as the stent is inserted into the body from the groin area or arm through a catheter. Owing to the lesser recovery time and in-hospital time, the adoption of stents for cardiovascular diseases is set to grow at a healthy rate over the forecast period 2021-2026.
Terumo Corporation announced a joint venture with Kikuna Memorial Hospital to develop artificial intelligence (AI) for percutaneous coronary intervention (PCI).
The Major Players in this Market Include
The major companies in the Stents market include Abbott Laboratories, B.Braun Melsungen AG, Boston Scientific, C.R Bard Incorporation, BD, Cook Medical, Medtronic Plc.
In 2020, Becton, Dickinson and Company announced the acquisition of Straub Medical AG. This acquisition helped BD to enhance its product portfolio of stents. Over the years, companies have mainly focused on research and development and have been investing in developing various products. These advancements in R&D are likely to drive the Stents market during the forecast period 2021-2026.
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