What is a stent used for
A stent is a small mesh tube typically used to hold open passages in the body, such as weak or narrowed arteries. Stents are often used to treat narrowed coronary arteries that provide the heart with oxygen-rich blood.
Surge in prevalence of heart diseases, increase in demand for angioplasty, and rise in the number of approvals for stents drive the growth of the global stents market. However, high cost of procedures associated with stents hinders the market growth. On the other hand, rise in R&D activities and advancements in technology present new opportunities in the coming years.
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Covid-19 Scenario
- Manufacturing activities of stents were impacted due to lockdown measures implemented during the Covid-19 pandemic by various governments. Many challenges such as shortage of raw materials, disruptions in the supply chain, and others occurred.
- During the pandemic, the demand for stents from hospitals decreased considerably. This is due to the postponement of non-essential surgical procedures to avoid cross-contamination and shift in resources to treat patients infected with Covid-19.
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Based on product, the coronary stents segment accounted for the highest share in 2020, contributing to more than half of the global stents market, and is estimated to maintain its lead position during the forecast period. Moreover, this segment is expected to manifest the highest CAGR of 6.2% from 2021 to 2030. This is due to advancements in technology, rise in prevalence of coronary artery disease, and surge in adoption of drug eluting stents. The research also analyzes the segments including peripheral stents and stents-related implant.
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Leading market players
- Abbott Laboratories
- B. Braun Melsungen AG
- Biotronik SE & CO. KG.
- Boston Scientific Corporation
- Becton, Dickinson and Company
- Elixir Medical Corporation
- Medtronic Plc.
- Microport Scientific Corporation
- Reva Medical, Inc.
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