The peripheral vascular stents market is projected to expand at a CAGR of 7.5% during the period from 2024 to 2032, propelled by the rising prevalence of peripheral artery disease (PAD) and the aging population. Peripheral vascular stents are medical devices that are used to treat blockages and narrowings in peripheral arteries, such as those in the legs, limbs, and other locations outside of the heart and brain. The primary purpose of these stents is to restore blood flow and prevent further PAD-related complications, such as limb amputations and cardiovascular events. In addition, ongoing research and development efforts to introduce novel stent designs and drug-eluting stents that reduce the risk of restenosis and enhance long-term outcomes have affected the market. As the pathophysiology of PAD is better understood, efforts are ongoing to increase stent performance and patient outcomes. Despite positive market trends, obstacles persist, such as the high cost of peripheral vascular stents and the disparate reimbursement policies across regions. In addition, the availability of alternative treatment options, such as angioplasty and atherectomy, presents a competitive barrier to the adoption of stenting.
Peripheral artery disease (PAD) is a significant market driver for peripheral vascular implants. The prevalence of PAD has been increasing worldwide, particularly in populations that are aging. According to the American Heart Association, approximately 8.5 million persons are affected by PAD in the United States alone. Increasing rates of risk factors such as diabetes, obesity, and smoking have also contributed to the rising incidence of PAD. As PAD progresses, it can cause significant narrowing and occlusion of peripheral arteries, necessitating revascularization with peripheral vascular stents. The demand for peripheral vascular stents has increased due to the demand for efficacious PAD treatments.
Innovations in stent technology and design have been instrumental in propelling the peripheral vascular stents industry. Significant advancements have been made in the development of stents over the years, including the introduction of drug-eluting and bioresorbable stents. Drug-eluting stents are coated with drugs that reduce the risk of restenosis, resulting in enhanced long-term patient outcomes. Over time, bioresorbable stents dissolve, leaving a healed artery without a permanent implant. These technological advancements have improved the safety and efficacy of peripheral vascular stents, resulting in a rise in their adoption by medical professionals. In terms of target lesion revascularization rates, studies have demonstrated that drug-eluting stents offer superior outcomes compared to bare-metal stents.
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A significant market driver for peripheral vascular stents is the increasing preference for minimally invasive procedures. Endovascular stenting is a minimally invasive procedure that offers several advantages over traditional open surgery, including shorter hospital stays, a lower risk of complications, and a quicker recovery time. As a consequence, an increasing number of patients and healthcare providers are opting for minimally invasive interventions, resulting in an increase in demand for peripheral vascular stents. In addition, the development of new techniques, such as radial artery access for stenting procedures, has contributed to the increasing prominence of minimally invasive procedures. Endovascular stenting is associated with lower morbidity and mortality rates than open surgery, supporting the trend toward greater adoption of minimally invasive techniques.
The high incidence of stent-related complications is a significant factor restraining the peripheral vascular stent market. There are hazards associated with peripheral vascular stents, despite their effectiveness in treating peripheral artery disease (PAD) and restoring blood flow in affected arteries. Stent-related complications include restenosis, thrombosis, and stent fractures. Restenosis is the re-narrowing of the treated artery after the initial stenting procedure. Thrombosis is the formation of blood clots within the stent, which can impede blood flow and result in significant complications. Although less common, stent fractures can be caused by mechanical stress or malposition. These complications may necessitate additional interventions or surgical procedures, resulting in increased healthcare expenses and patient distress. Studies have reported varying rates of complications associated with stents, depending on variables such as stent type, patient characteristics, and duration of follow-up. In the peripheral vascular stent market, addressing these complications and minimizing their incidence remain significant challenges for healthcare providers and stent manufacturers. To mitigate the risks associated with peripheral vascular stents and enhance patient outcomes, a cautious approach to patient selection, appropriate stent sizing, and vigilant post-procedure follow-up are essential.
Among the various varieties of peripheral vascular stents, drug-eluting stents (DES) are anticipated to exhibit the highest CAGR from 2024 to 2032, as well as the highest market revenue in 2023. Drug-eluting stents are coated with medications that inhibit restenosis, thereby reducing the likelihood of the treated artery narrowing again after stenting. The ability of drug-eluting stents (DES) to provide superior long-term outcomes than bare metal stents (BMS) and their greater effectiveness in preventing restenosis have led to their widespread adoption. In addition, developments in drug-eluting stent technology and enhancements to the drug-coating process have further improved their performance and safety profile, contributing to their high CAGR and revenue generation in the peripheral vascular stents market. Bare metal stents (BMS) occupy a significant market share due to their long history of use and proven effectiveness in providing mechanical support to a constricted artery. BMS are bare metal stents that, despite lacking drug-eluting properties, are effective for immediate vessel scaffolding and blood flow restoration. Despite the fact that BMS is associated with a higher risk of restenosis than DES, they are still preferred in cases where prolonged dual antiplatelet therapy is not practicable or when the risk of bleeding is a concern. Consequently, BMS contributes significantly to the market revenue for peripheral vascular stents. Bioabsorbable stents, despite being an emerging segment, have demonstrated promise and are anticipated to grow at a significant CAGR in the coming years. Over time, bioabsorbable stents dissolve, leaving the treated artery without a persistent implant. This feature eliminates the stent's long-term presence, thereby reducing the potential for stent-related complications. The mechanical strength and complete bioabsorption of these stents, however, have prevented their widespread adoption. However, ongoing research and development efforts to enhance the efficacy and safety of bioabsorbable stents are anticipated to fuel their growth in the peripheral vascular stents market.
In the mode of delivery segment of the peripheral vascular stents market, self-expanding stents are anticipated to demonstrate the highest CAGR from 2024 to 2032, as well as the highest market revenue in 2023. Self-expanding stents are designed to automatically expand and deploy upon discharge from the delivery system. This feature enables precise positioning in areas with complex anatomy and varying vessel diameters. The adaptability and flexibility of self-expanding stents contribute to their ubiquitous use, particularly in difficult peripheral vascular interventions. In addition, self-expanding stents offer the benefit of reduced recoil, ensuring superior vessel scaffolding and long-lasting patency. The convenience and efficacy of self-expanding stents have led to their preference in a variety of clinical scenarios, driving their high CAGR and revenue growth in the peripheral vascular stents market. In contrast, balloon-expandable stents possess a substantial market share and have consistently contributed to market revenue. Utilizing a balloon catheter, balloon-expandable stents are expanded against the vessel wall during deployment. Once distended, these stents offer exceptional radial strength, making them ideal for precise deployment in controlled environments. Balloon-expandable stents are frequently utilized in coronary interventions and when the target vessel has a consistent diameter, allowing for predictable stent expansion. Despite competition from self-expanding stents, balloon-expandable stents continue to be preferable in certain clinical situations, such as cases involving tight lesions or when precise positioning is essential. Consequently, they maintain a considerable market share and contribute significantly to the market's total revenue.
North America and Europe held the largest market share in terms of revenue percentage in 2023 due to their early adoption of advanced medical technologies and higher healthcare expenditure. Due to the high prevalence of PAD and the well-established healthcare system in the United States, a significant portion of the North American market's revenue is generated in this country. Due to their aging populations and robust healthcare infrastructure, countries like Germany, France, and the United Kingdom contribute considerably to the overall revenue of the peripheral vascular stents market in Europe. The Asia-Pacific market for peripheral vascular catheters is growing at the fastest rate. Demand for peripheral vascular stents in the region is fueled by the increasing prevalence of peripheral artery disease, particularly in countries such as India and China, a growing geriatric population, and rising healthcare expenditures. In addition, expanding healthcare infrastructure and the availability of a diverse selection of stents have contributed to the growth of the market in the Asia-Pacific region.
The market for peripheral vascular stents is highly competitive, with a number of leading companies competing for market share and prominence. Abbott Laboratories, Boston Scientific Corporation, Medtronic Plc, Cook Medical, C.R. Bard, Inc, Terumo Medical, Biotronik, Lifetech, iVascular SLU, Stryker, Microport Scientific Corporation, Stentys S.A., Hellman & Friedman (Cordis Inc.), are among the industry's top companies. In order to maintain their competitive advantage in the market for peripheral vascular stents, these companies employ a number of crucial strategies. Continuous research and development to introduce innovative stent designs and technologies is one of the primary strategies. These leading companies make substantial investments in the development of stent materials, drug coatings, and delivery systems to improve stent performance and patient outcomes. Additionally essential to their competitive strategy are their global market reach and distribution effectiveness. These businesses have well-established supply chains and extensive distribution networks, allowing them to reach healthcare providers and patients in a variety of geographical regions. This global presence ensures that the company's peripheral vascular stents are readily available to meet global demand. To preserve their competitive advantage, these businesses prioritize regulatory compliance and quality standards. To ensure the safety and efficacy of their stent products, they invest in obtaining the necessary certifications and approvals from regulatory authorities. This dedication to regulatory compliance enhances their standing among healthcare professionals and patients.
