An Incisive, In-depth Analysis on the Peripheral Vascular Stents Market
This study offers a comprehensive, 360 degree analysis on the Peripheral Vascular Stents market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Peripheral Vascular Stents market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Peripheral arterial disease is a condition in which the build-up of fatty deposits in arteries restricts the blood flow of muscles. Peripheral vascular disease refers to disease of blood vessels outside the heart, such as those of kidneys, limbs, gut and brain. Intravascular stent also known as vascular stent or endovascular stent is a synthetic tubular mesh structure used for permanent implant in graft or native vasculature. A stent is basically designed to provide mechanical radial support after assigning; the support is meant to improve vessel patency over the life of the device. After the stent is placed in the intended location, it is expanded by a balloon or self-expanding mechanism. The report provides market size and forecast for peripheral vascular stents, inclusive all four product type of stents. The global report on peripheral vascular stents market provides market size (US$) and opportunity assessment for peripheral vascular stents for 2018–2028 by product type, artery type and end user. The report also provides qualitative analysis in terms of market dynamics and future growth opportunities for manufacturers of peripheral vascular stents across the globe.
Market Value and Forecast
FMI estimates that the global market for peripheral vascular stents is expected to be valued at US$ 5,324.1 Mn by 2028 end, expanding at an impressive CAGR of 6.6% over 2018–2028. The self-expanding stents was the leading segment in the global market with above 52.1% revenue share in 2017. North America is expected to expand at healthy CAGR over the forecast period of 2018–2028.
The global peripheral vascular stents market is expected to be driven by increased awareness in low- and middle-income countries, growing investment by manufacturers and governments to cope up with increasing prevalence of peripheral artery disease, and technological advancement in vascular stents such as drug eluting and drug coated stents, etc. Nowadays, peripheral vascular angioplasty is mostly adopted in low-income countries such as Middle East and African countries, which is supported by public-private partnerships and alliances. Growing access to peripheral stents in angioplasty and traditional open surgery in these under penetrated markets is expected to accelerate the growth of global peripheral vascular stents market. Moreover, approval of new technologically advanced stents such as drug eluting and bio-absorbable stents in the U.S., Europe and Japan during last few years has revolutionized peripheral vascular stents landscape. However, despite the efforts of governments as well as manufacturers to improve peripheral vascular stents landscape, product recall from various key players and stringent regulations are the major factors restricting the growth of the global peripheral vascular stents market over the forecast period.
The global market for peripheral vascular stents is segmented in to seven key regions viz. North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and the Middle East and Africa (MEA). North America accounted for leading share in 2017. APEJ is expected to witness rapid growth owing to increasing ageing population and growing number of peripheral surgeries over the forecast period of 2018–2028.
The global market for peripheral vascular stents is consolidated with over 55% revenue share contributed by few of the global players. The key players identified in the global peripheral vascular stents market are Medtronic Plc., Becton, Dickinson and Company, Cardinal Health, Inc., B. Braun Melsungen AG, MicroPort Scientific Corporation, Boston Scientific Corporation, BIOTRONIK SE & Co. KG, Abbott Laboratories, W.L. Gore & Associates Inc., and Cook Medical Inc., among others. Acquisition of established products to gain immediate growth is the key strategy adopted by key players in the market.
This Future Market Insights (FMI) report examines the global peripheral vascular stents market for the period 2013–2028. The primary objective of the report is to offer insights into market opportunity for peripheral vascular stents and developments in the peripheral vascular stents market.
The global peripheral vascular stents market has witnessed spontaneous changes in peripheral surgical landscape after the launch of new products, such as drug eluting and drug coated, and initiation of public–private alliances to widen the use of stents in endovascular interventions. According to the Centre for Disease Control and Prevention (CDC), approximately 8.5 million people in the U.S. suffer from PAD, including 12–20% of individuals older than age 60. This increasing prevalence of peripheral artery diseases and growing healthcare expenditure in lower-middle income countries are factors projected to boost the growth of the global peripheral vascular stents market over the forecast period.
The market for peripheral vascular stents is primarily driven by increasing prevalence of peripheral artery disease (PAD), rise in ageing population, increase in number of outpatient surgeries, and growing preference of peripheral surgery. However, stringent regulations and recall of products are the factors limiting growth of the global peripheral vascular stents market.
The Global Peripheral Vascular Stents Market has been segmented based on:
- Product Type
- Artery Type
- End User
The report analyses the global peripheral vascular stents market in terms of value (US$ Mn). The report begins with the market definition and explaining different types and causes of peripheral artery disease and use of peripheral stents, and highlighting self-expanding peripheral stents. This section also explains the prevalence of peripheral artery disease across key regions. The market view point section includes FMI’s analysis on key trends, drivers, opportunities, trends and macro factors influencing the global peripheral vascular stents market. Opportunity analysis provided in the section allows clients to better equip with crystal clear decision-making insights.
The report analyses the market based on regions and presents the forecast in terms of value (US$ Mn) for the next 10 years. The regions covered in the report include:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan (APEJ)
- The Middle East and Africa (MEA)
Each of these sections analyse the regional market by product type, artery type, end user and country. The regional introductory section provides key insights on market dynamics for each region. The section is mainly designed to provide current scenario of the peripheral vascular stents market and forecast for 2018–2028. The representative market participants section gives list of companies operating in each region, competitive landscape and intensity map of their presence in each region.
To arrive at the market size, we have used our in-house epidemiology data-based model to estimate the peripheral vascular stents market size. We have adopted bottom-up approach to forecast the peripheral vascular stents market. Weighted average selling price is considered to estimate the market size of various product types mentioned in the scope of the report. The country price is captured with the local currency. The local currency figures are then converted to USD to offer forecasts in a consistent currency standard. Furthermore, FMI has also considered the latest annual exchange rate to reflect the impact of the most recent economic conditions of country. Prices considered in the models are standardized based on the average of various product type.
The forecast presented in the report provides total revenue of the currently approved peripheral vascular stents over 2018–2028. In addition, we have taken into consideration the year-on-year growth to understand the predictability of the market and to identify the right growth opportunities in the global market.
In the next section of the report, the ‘Competitive Landscape’ is included to provide report audiences with a dashboard view and to access the key differentiators among the competitor firms. The market structure analysis provides tier-wise breakdown of the total market revenue. The section also provides company share analysis and brand share analysis for the key market players. This section is primarily designed to provide clients with an objective and detailed comparative assessment of product offerings and strategies of key providers specific to the market segments. Detailed profiles of players operating in the global peripheral vascular stents market are also provided in the report which highlights company description, overview, product/segment overview, SWOT analysis, financial information, key developments related to market and strategic overview.
The next section of report analyses the market based on product types and presents the forecast in terms of value for the next 10 years. The product types covered in the report include:
- Self-Expanding Stents
- Balloon Expanding Stents
- Covered Stents
- Drug Eluting Stents
The next section of the report analyses the market based on artery types and provides forecast in terms of value for the next 10 years. The artery types covered in the report include:
- Carotid Artery
- Fem-Pop Artery
- Iliac Artery
- Infrapop Artery
The next section of report analyses the market based on end user for peripheral vascular stents products and provides forecast in terms of value for the next 10 years. The end users covered in the report include:
- Ambulatory Surgical Centres/Outpatients
Another key feature of this report is the analysis of the key segments in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical for assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective of the products. To understand the key growth segments, Future Market Insights provides the ‘Attractiveness Index’ analysis, which helps to identify the real market opportunities.