(MENAFN- GlobeNewsWire - Nasdaq) Demand for Peripheral Stent Implants Rising Due to Lower Procedural Risk Associated with Procedure
Rockville, MD, Oct. 28, 2024 (GLOBE NEWSWIRE) -- The global peripheral stent implant market is set to be valued at US$ 4.11 billion in 2024 and is projected to expand at 6.6% CAGR from 2024 to 2034. Increasing demand for minimally invasive procedures for treating peripheral artery disease is one of the key driving factors driving market progress.
Endovascular inventions such as stent implantation are becoming popular and preferred treatment choices for peripheral artery disease (PAD) over traditional methods of surgical revascularization because they lower the procedural risk associated with endovascular procedures such as accessing the affected artery through a small incision and navigating specialized catheters and guidewires to the site of the blockage.
Endovascular procedures provide patients with less trauma, shorter hospital stays, and quicker recovery periods than open surgery. Studies have demonstrated that endovascular treatments yield long-term results similar to those of surgical revascularization, which lends additional credence to its use. Because of this, medical professionals and institutions are using endovascular procedures such as stent implantation to successfully treat peripheral artery disease while reducing patient morbidity.
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Key Takeaways from Market Study
The global peripheral stent implant market is analyzed to reach a size of US$ 7.76 billion by the end of 2034. The East Asia market is forecasted to expand at a CAGR of 7.9% from 2024 to 2034. North America is projected to account for 7% of the global market share in 2024. Sales of peripheral stent implants in the United States are forecasted to reach US$ 3.31 billion by the end of 2034. Sales of bare metal stents (BMS) are estimated to reach US$ 3.12 billion in 2024. By artery type, sales of iliac artery stents are projected to reach US$ 3.68 billion by the end of 2034. Based on end user, revenue from hospitals is calculated to reach US$ 4.38 billion by the end of 2034.
“Due to drug-eluting stents' capacity to lower restenosis rates and enhance long-term patient outcomes, they are now beginning to establish themselves as the preferred product choice in the peripheral stent implant market,” says a Fact.MR analyst
Leading Players Driving Innovation in the Peripheral Stent Implant Market:
Key industry participants like Biotronik SE & Co. KG; W. L. Gore & Associates Inc.; Abbott Laboratories; Cook Medical, Inc.; B. Braun Melsungen AG; Medtronic Plc.; Terumo Medical; Microport Scientific Corporation; Boston Scientific Corporation; Terumo Corporation; iVascular SLU; Cardinal Health, Inc., etc. are driving the peripheral stent implant industry.
Availability of Well-Trained Medical Staff and Access to Sophisticated Technology in Hospitals
Peripheral stent implantation procedures are mostly performed in hospitals, which provide a centralized setting for comprehensive patient care. Hospitals also provide a variety of interventional therapies, such as peripheral stent insertion, since they often have well-trained medical staff and sophisticated technology, such as sophisticated catheterization labs.
Hospitals often have established relationships with medical device manufacturers, which facilitates the acquisition and utilization of peripheral stent implants. Because of reimbursement rules and healthcare financing schemes, hospital-based services often get a significant portion of healthcare spending.
Peripheral Stent Implant Industry News:
The "AGILITY" investigational device exemption (IDE) trial, which intends to assess the safety and effectiveness of Becton, Dickinson and Company's vascular-covered stent for the treatment of peripheral artery disease (PAD), enrolled its first patient in March 2024.
In October 2023, Cordis, a world leader in the development and manufacturing of interventional cardiovascular and endovascular technologies, purchased MedAlliance, a Swiss business that pioneered drug-eluting balloon technology.
Royal Philips declared in August 2021 that it has signed a deal to purchase Vesper Medical Inc., a US-based provider of minimally invasive peripheral vascular devices.
The first-in-human (FIH) application of Efemoral Medical's bioresorbable vascular scaffold system (EVSS) with FlexStep Technology took place in December 2020 as part of the EFEMORAL I FIH clinical research. For a wide range of patients with peripheral arterial disease (PAD), the bioresorbable stent is intended to improve symptoms and avoid reintervention for this traditionally challenging patient population.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the peripheral stent implant market, presenting historical demand data (2019 to 2023) and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on product (bare metal stents, covered stents, drug-eluting stents), artery (carotid artery stents, fem-pop artery stents, iliac artery stents, infrapop artery stents), and end user (hospitals, ambulatory surgical centers/outpatient), across seven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).
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