In the recently revised research report made by FMI, the Peripheral Vascular Stent Market is expected to record USD 4,267.70 million in 2024. In this lucrative market, manufacturers are expanding their share by launching progressive peripheral vascular stents that help in medical procedures.
The peripheral vascular stents are forecast to expand at a CAGR of 7.60% in the ten-year time frame. Factors that are inducing growth in the market are investments by market players to meet the demands posed by rising peripheral artery disease. Furthermore, innovation in the designs and materials of peripheral vascular stents is guiding forecast trends.
According to revenue analysis of the peripheral vascular stent market by FMI analysts for the year 2034, the market is expected to surpass USD 8,878.00 million.
| Attributes | Key Insights |
|---|---|
| Peripheral Vascular Stent Market Size (2024E) | USD 4,267.70 million |
| Market Valuation (2034F) | USD 8,878.00 million |
| Value-based CAGR (2024 to 2034) | 7.60% |
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| Leading Product Type | Self-expanding Stents |
|---|---|
| Value Share (2024) | 52.40% |
The self-expanding segment is predicted to acquire a 52.40% market share in 2024. The demand for self-expanding stents is rising on account of the growing incidence of cardiac problems, the increasing population of smokers, and lifestyle evolution.
| Leading Artery Type | Iliac Artery |
|---|---|
| Value Share (2024) | 47.40% |
Demand for peripheral vascular stents is rising for iliac arteries. This artery type is predicted to account for a 47.40% value share in 2024. Growing demand for minimally invasive procedures is propelling the market growth. Additionally, the segment is benefitting from continuous technological upgrades in stent design and material.
| Countries | Forecast CAGR (2024 to 2034) |
|---|---|
| The United States | 5.90% |
| The United Kingdom | 6.40% |
| GCC Countries | 7.60% |
| China | 10.30% |
| India | 7.10% |
The demand for peripheral vascular stents in the United States is estimated to assume a pace of 5.90% CAGR over the upcoming decade. The chief factor that is driving the United States market is the broad availability of newly approved drug-eluting stents across the country.
The United States market wields substantial power in North America as it stands at the forefront and determines the region’s growth. Fundamental drivers that are supporting the market’s expansion include the expanding geriatric population and the prevailing utilization of peripheral stent implants. Surging acceptance of minimally invasive procedures for cardiovascular disorders is another contributing factor.
The rising presence of peripheral vascular stent providers is compelling market growth. Additionally, the approval and early availability of the latest, technologically progressive stents have also transformed the peripheral vascular stents market landscape. These include bio-absorbable and drug-eluting stents.
The United Kingdom peripheral vascular stent market is projected to expand at a CAGR of 6.40% over the forecast period. The market is supposed to grow in the United Kingdom as a result of increasing studies to widen the scope of peripheral arterial disease treatment options.
For instance, in May 2024, BD, a prominent medical technology player, announced the first patient enrollment in the investigational device exemption (IDE) study called “AGILITY”. The study assesses the effectiveness and safety of the BD Vascular Covered Stent for the Peripheral Arterial Disease (PAD) treatment.
The company stated that the global, non-randomized, multi-center, prospective, single-arm AGILITY clinical study is expected to include 315 patients. The study encompasses 40 clinical study sites throughout Europe, the United States, New Zealand, and Australia.
The sale of peripheral vascular stent in India is expected to increase at a CAGR of 7.10% over the forecast period. The market is propelled by the expanding patient pool and increasing elderly population who are susceptible to chronic illnesses.
Surging adoption of peripheral angioplasty, the rising presence of cost-effective surgeries, and enhancing immunization access are some common contributory factors that are propelling market growth.
Indian players are actively contributing to the advancement of this industry. For example, Concept Medical Inc., an MNC for medical devices founded by Manish Doshi. The MNC made headlines with Concept Medical’s MagicTouch in a confluence of acclaimed Indian and foreign doctors which was held in Surat in January 2024. Concept Medical’s MagicTouch is the world’s first Sirolimus-coated balloon.
The product is becoming commercial just in time to offer a ray of hope for millions of people inflicted with peripheral vascular disease (PVD). In this confluence, doctors came together to discuss the latest advancements in vascular medicine, effective patient relief measures, and strategies for halting PVD development.
The peripheral vascular stent market in China is predicted to expand at an impressive CAGR of 10.30% over the forecast period. A growing patient base for people suffering from high-risk cardiovascular diseases is a key determiner for the use of stents to treat obstructive coronary diseases.
The primary strategy adopted by domestic players in China is the affordable cost of stents. Additionally, key players in the industry are persistently developing distinct and groundbreaking stent technologies to help them obtain a leading market position.
Biotronik had revealed in the historical period that its new Orsiro DES has gained approval for sale by the National Medical Products Administration in the country. This move means that the firm will be able to make the stent available for patients and medical practitioners in a matter of months.
The peripheral vascular stent market in GCC countries is expected to increase at 7.60% CAGR over the next decade. Poor knowledge about peripheral artery diseases (PAD) among the high-risk individuals residing in GCC countries is increasing the risk of PADs in these countries.
Industry participants are also using this knowledge gap to target their educational campaigns, especially among high-risk populations. Players are enhancing their portfolios by investing in new technologies. Furthermore, advancements supported by modern technologies are expected to introduce the latest trends in the market across GCC countries.
Biosensors, Abbott, Boston Scientific, Biotronik, Stryker, Medtronic, Terumo, and B. Braun are identified as powerful players in the peripheral vascular stent market. Their growth is stimulated by the increasing count of cardiovascular surgeries performed alongside minimally invasive techniques.
Medical equipment manufacturers are using market penetrative strategies to gain a large foothold in the industry. The launch of the self-expanding Eluvia drug-eluting stent (DES) system, in the historical period, is a top strategy adopted by market players. This launch served a double benefit as it helped the company extend its PAD portfolio as well as utilize a new drug-polymer combination for the sustained release of the drug paclitaxel.
In the quest to gain a larger foothold in the market, stent makers and medical device manufacturers are investing in research and innovations to elevate their portfolios. ETH Zurich researchers have released a new method to develop malleable microstructure production utilizing indirect 4-D printing.
This latest technology has the potential to develop malleable microstructure production utilizing indirect 4-D printing. Moreover, the government support for certain studied and analyzed product offerings is also encouraging players to expand in this market.
In emerging markets, stent manufacturers are acquiring and merging with other competing players to enhance their position.
Current projections of the market indicate a valuation of USD 4,267.70 million in 2024.
Looking ahead to 2034, the current forecast projects a CAGR of 7.60% for the industry.
FMI predicts the market to reach USD 8,878.00 million by the year 2034.
The self-expanding stents segment is predicted to hold a significant market share in 2024.
India and China are predicted to offer lucrative opportunities for investors and stakeholders.
Medtronic Plc., Cardinal Health, Inc., and B. Braun Melsungen AG are powerful players in the industry.
Peripheral Vascular Stent Market
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