Peripheral Stent Implants Market - Global Industry Analysis, Growth, Size, Share, Demand, And Forecast 2028

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Global Peripheral Stent Implants Market

Peripheral Stent Implants market - Zion Market Research

The global peripheral stent implants market size was worth USD 3,291.5 million in 2021 and is estimated to grow to USD 4,857.1 million by 2028

As per the analysis shared by our research analyst, the global peripheral stent implants market value is expected to grow at a CAGR of 6.7% over the forecast period.” - Zion Market ResearchSUITE N202, NEW YORK, UNITED STATES, December 15, 2022 /einpresswire.com / -- The global peripheral stent implants market is growing due to rising government & corporate support, and more awareness in underdeveloped & emerging nations, among other factors. Additionally, it is anticipated that technological developments in stents and increased cases of peripheral artery disease would support market demand. With the rising usage of peripheral stents in angioplasty and conventional open surgery, the market for peripheral stent implants is expanding globally. Peripheral stent implants have improved and gained more acceptability due to increased approvals for cutting-edge technologies, including eluting stents and bio-based stents, boosting their availability in Europe, Japan, and the US in the latest years. The global market for peripheral stent implants is growing but is being constrained by the rules placed on them to guarantee patient safety. Nevertheless, opportunities are created for major participants in the peripheral stent implants market by a growing patient base and aging population. Key players in the global peripheral stent implants market include Abbott Laboratories, B. Braun Melsungen AG, Biotronik SE & Co. KG, Cook Medical, Inc., Boston Scientific Corporation, iVascular SLU, Cardinal Health, Inc., Terumo Corporation, Medtronic Plc., and W. L. Gore & Associates Inc.

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Global Peripheral Stent Implants Market Overview

Peripheral artery disease is caused by fatty deposits in the arteries and lowers the blood flow to the muscles. Peripheral vascular illnesses are conditions that affect blood vessels outside of the heart, including those in the brain, stomach, limbs, and kidneys. A synthetic tubular mesh component implanted permanently in the body's natural vasculature is referred to as a vascular stent, also known as an intravascular stent. With the rising frequency of peripheral vascular disorders worldwide, the market for peripheral stent implants is projected to expand.

The global peripheral stent implants market is segregated based on product, artery type, end user, and region. Based on product, the market is divided into bare metal stents (BMS), covered stents, and drug-eluting stents (DES). In 2021, the drug-eluting stents (DES) category dominated the global market. Based on artery type, the market is divided into carotid artery stents, fem-pop artery stents, iliac artery stents, and infra-pop artery stents. In 2021, the carotid artery stents category dominated the global market. Based on end-user, the market is divided into hospitals and ambulatory surgical centers/outpatients. In 2021, the hospital's category dominated the global market.

The global peripheral stent implants market is divided into geographic regions: North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. With a revenue share of over 32.0% in 2021, North America led the market for peripheral stent implants and is expected to continue on this path in the near future. North America's peripheral stent implant market is largely driven by a sedentary lifestyle that causes obesity leading to cardiovascular disorders, including heart attack, stroke, ischemic heart disease (IHD), etc. The market growth has also been accelerated by technical developments in the stent technologies, such as drug-eluting stents and the utilization of biodegradable materials. The market expansion in this area is driven by established market players like Medtronic, Abbott, and Boston Scientific. The market for peripheral stent implants in Asia Pacific is anticipated to develop at the quickest rate in terms of revenue. This market is fueled by a number of additional factors, including improved CAD screening, economic expansion, regulatory revisions, and notably favorable reimbursement in select nations like Australia and South Korea.

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recent development:

In May 2021, the Balloon-expanding (BX) covered stent iCover from iVascular acquired CE mark clearance. It is used to treat ruptures and aneurysms and arteriosclerotic lesions in the iliac and renal arteries. The company was able to grow because of this tactic.

In December 2020, MicroPort Scientific reported that it had acquired a registration certificate for its Bridge vertebral drug-eluting stent from China's National Medical Products Administration (NMPA). The gadget has a novel drug delivery system that enables quicker endothelialization and lower thromboembolic and restenosis occurrences. The oval strengthens the company's market presence.

In August 2021, Royal Philips, a global leader in health technology, announced that it had agreed to acquire Vesper Medical Inc., a medical technology business located in the United States that produces minimally invasive peripheral vascular devices. Vesper Medical will add an advanced venous stent portfolio for the treatment of deep venous illness to Philips' lineup of diagnostic and therapeutic devices. The deal is anticipated to close in the first quarter of 2022, subject to the usual closing requirements.

Key Insights

As per the analysis shared by our research analyst, the global peripheral stent implants market value is expected to grow at a CAGR of 6.7% over the forecast period.

In terms of revenue, the global peripheral stent implants market size was valued at around USD 3,291.5 million in 2021 and is estimated to grow to USD 4,857.1 million by 2028.

The market for peripheral stent implants is expanding due to the increased use of vascular stenting operations and the surge in demand for peripheral stents.

By product, the drug-eluting stents (DES) category dominated the market in 2021.

By artery type, the carotid artery stents category dominated the market in 2021.

North America dominated the global peripheral stent implants market in 2021.

Peripheral Stent Implants Market: Growth Drivers

The increased prevalence of cardiovascular diseases drives the market growth

The expansion of the global peripheral stents implants market in the coming years is predicted to be favorably impacted by the rising prevalence of cardiovascular illnesses globally. Demand for peripheral vascular and percutaneous coronary interventions is anticipated to rise as the number of patients with chronic conditions rises. For instance, the World Health Organization (WHO) estimates that 17.9 million deaths worldwide each year are attributed to cardiovascular diseases (CVDs), or almost 32% of all fatalities. The need for peripheral vascular and percutaneous coronary interventions will rise as the number of patients with cardiovascular disorders increases gradually, which will ultimately feed the demand for peripheral stent implants.

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Varsharani Lavate
Zion Market Research
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