Dublin, Nov. 11, 2021 (GLOBE NEWSWIRE) -- The "Cardiovascular Stent Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.
The global cardiovascular stent market is calculated to escalate at a CAGR of 7.18% during the forecast period to reach US$15.594 billion by 2026, from US$9.597 billion in 2019.
A cardiovascular stent is used in the re-opening of a blocked or narrowed coronary artery. These stents are also used in improving the blood flow in the heart. It also reduces the risk of heart attack or heat stroke and hence improving the person's life. The prime reason driving the market growth during the forecasted period is rising cases of cardiovascular diseases, which has raised serious concerns. Furthermore, a rising proportion of the geriatric population has increased the chances of artery failure, which requires the implementation of cardiovascular stents for smoother blood flow. However, chances of developing blood clots around the area of stent create a problem for the patient and hence create a limitation for the market growth. furthermore, substitute medical treatments are available which also hinders the market size.
Rising cases of cardiovascular diseases are predicted to increase the demand for cardiovascular stents.
Cardiovascular diseases increase the chances of developing blockages in an artery in a patient, and hence the threat to life. rising cases of cardiovascular diseases are expected to drive the demand for cardiovascular stents during the forecasted period. Data from World Health Organization shows that cardiovascular diseases are the leading cause of death worldwide, accounting for 32% of deaths annually. It is calculated by the organization that roughly around 17.9 million people die because of cardiovascular diseases. In the United States, data from the Centre for Disease Control cites that 655,000 Americans die every year due to heart problems.
In Australia, cardiovascular disease affects more than 4 million people and kills, on an average, 118 patients each day. Further, it is anticipated that a complex lifestyle and hectic work culture have increased stress in life and worsen dietary habits, raising the chances of cardiovascular diseases in a person.
Rising instances of cardiovascular diseases are expected to increase the implementation of the cardiovascular stent in case of artery blockage or narrowing it, hence driving the market growth during the forecasted period.
The growing geriatric population having cardiovascular diseases is expected to increase the adoption of the cardiovascular stent, and hence drive the market growth during the study period.
One of the prime users of cardiovascular stents is the aged population having cardiovascular diseases who require the support of stents for easy blood flow in the body. it is anticipated that an increasing proportion of the aged population in the overall demography will drive the market growth of the cardiovascular stent industry. Data from World Bank Database shows that the population aged 65 and above increased to 9.5% of global demography in 2020. The United Nations estimates that this proportion will further increase to around 15% by the end of 2050. The increased geriatric population, hence, is expected to drive in a significant market.
The risk of developing clot and substitute medical treatment has the potential to constrain the market growth of the cardiovascular stent industry during the forecasted period.
One of the prime constraints that are faced by cardiovascular stent technology is the risk of developing a blood clot after surgery that continues to disturb blood flow in the body. Research has found that about 1% to 2% of the patients who get a cardiovascular stent implemented in their body have the chance of developing blood clots around the stent. This blood clot disturbs the blood flow by the heart and puts the patients at serious risk of heart attack or stroke. The risk of developing a blood clot is higher in the initial months after the implementation of the stent. However, risk prevails forever and develops despite taking several measures during and after the insertion medical procedure.
Moreover, the presence of substitute medical treatment also hinders the market size. A person having up to 2 artery blockages is suggested for cardiovascular stents. However, a patient with more than 2 blockages is advised to undergo bypass surgery in place of inserting a stent, since the risk of developing cloth is higher in stent technology. In a recent study by the American college of cardiology, bypass surgery was found to be more effective in the treatment of artery blockage in comparison to stent treatment.
The research studied 600 patients have found that in the sample, 29.87% of people treated with stent died within 10 years of surgery, while 24.7% of patients treated with bypass surgery died in the same period. The proximate key cause of death under each category was found to be stroke or attack due to a blood clot. Further, 16.1% of people who received stent treatment needed a second procedure. This statistic was around 8% in the case of bypass surgery. The institute concluded that bypass surgery is superior to stent treatment. Therefore, with the risk prevailing and the availability of substitute medical technology, the market faces a huge obstacle.
The coronavirus pandemic reduced the size of the cardiovascular stent market, impacting the industry negatively. A fall in demand for cardiovascular stents was observed due to reducing routine check-ups resulting in a reduction in the location of patients with artery blockage.
Key Topics Covered:
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter's Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Powers of Buyers
4.3.3. Threat of Substitutes
4.3.4. The Threat of New Entrants
4.3.5. Competitive Rivalry in Industry
4.4. Industry Value Chain Analysis
5. GLOBAL CARDIOVASCULAR STENT MARKET, BY TECHNOLOGY
5.2. Dual Therapy Stent
5.3. Bioresorbable Vascular Stent
5.4. Bio-engineered Stent
5.5. Drug-Eluting Stent
5.6. Bare Metal Stent
6. GLOBAL CARDIOVASCULAR STENT MARKET, BY MATERIAL
6.2. Stainless Steel
6.3. Cobalt Chromium
7. GLOBAL CARDIOVASCULAR STENT MARKET, BY END-USERS
7.3. Ambulatory Research Centers
7.4. Research Institutes
8. GLOBAL CARDIOVASCULAR STENT MARKET, BY GEOGRAPHY
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrative
9.3. Mergers, Acquisition, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. COMPANY PROFILES
10.3. Boston Scientific Corporation
10.4. Arterial Remodelling Technology
10.5. Bioabsorbable Therapeutics Inc.
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