Press Release
Press Release
A stent is a small, expandable tube made of metal or plastic, used to keep blocked arteries open, especially those supplying the heart with blood. Stents are inserted during an angioplasty to treat narrow or weakened arteries, helping to relieve blockages. The growing number of cardiovascular diseases (CVDs), driven by factors like smoking, alcohol use, sedentary lifestyles, and obesity, is a major driver for the stents market.
The demand for stents is rising due to a focus on patient-centric designs that enhance comfort, reduce complications, and improve long-term outcomes. This approach aligns with the trend toward personalized and effective medical treatments.
CVDs (cardiovascular diseases) are a leading cause of death worldwide, particularly in low- and middle-income countries. According to the World Health Organization, CVDs are the leading cause of death worldwide, responsible for 17.9 million deaths in 2019, or 32% of all global deaths. Most CVD deaths (85%) result from heart attacks and strokes, and over 75% occur in low- and middle-income countries. Among the 17 million premature deaths from noncommunicable diseases in 2019, 38% were due to CVDs.
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According to the WHO Global Health Expenditure database, global health spending increased steadily from 9.68% in 2018 to 9.81% in 2019. In 2020, there was a significant rise to 10.87%, likely due to the increased healthcare demands and spending associated with the COVID-19 pandemic. By 2021, the expenditure slightly decreased to 10.35% but remained higher than pre-pandemic levels. This trend indicates rise in global health spending, reflecting ongoing healthcare needs and adjustments post-pandemic.
The market is also growing due to new product launches. Companies are developing advanced stents that offer better performance and improved patient outcomes. For example, in May 2024, Abbott launched the XIENCE Sierra™ Everolimus Eluting Coronary Stent System in India, offering advanced design and precision for treating complex coronary artery blockages. This next-generation stent enhances deliverability, flexibility, and safety, allowing cardiologists to effectively manage challenging cases and improve patient outcomes amidst rising coronary artery disease rates in India.
The major players in the global stents market are Boston Scientific Corporation, BD, Medtronic, Abbott, Cook Medical, Merit Medical Systems, Novatech SA, Terumo Corporation, MicroPort Scientific Corporation, Fuji Systems Corp., MICRO-TECH EUROPE, Vascular Concepts, Olympus Corporation, W. L. Gore & Associates Inc., and B. Braun Melsungen AG, amongst others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2017-2023 |
Forecast Period | 2024-2032 |
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