Asia Pacific Vascular Stent Market was worth USD 2.05 billion in 2016 and is projected to be growing at a CAGR of 11.6%, to touch USD 3.55 billion by 2017- 2021.
Asia-Pacific Vascular Stent Market By Product (Peripheral Stents, Coronary Stents, EVAR Stent Grafts), By Type (Bare-Metal Stents, Drug Eluting Stents, Bio Absorbable Stents), By Mode Of Delivery (Self-Expanding Stents, Balloon Expandable Stents), By Material (Metal, Polymer), By End User And By Region – Asia-Pacific Industry Analysis, Size, Share, Growth, Trends, And Forecasts (2016–2021)
The Asia Pacific Vascular Stent Market was worth USD 2.05 billion in 2016 and is projected to be growing at a CAGR of 11.6%, to touch USD 3.55 billion by 2021. A stent is inserted into the clogged artery with the help of a balloon catheter.
The inflation of the balloon results in the expansion of the stent which fits into place in the artery, this allows free blood flow through the artery and hence keeps it open.
Vascular stenting involves the placement of a small mesh wire tube inside the blood vessel to help keep it open.
Furthermore, the procedure is much less invasive than other available surgical procedures for the treat of Cardio Vascular Diseases (CVD), and generally does not require the use of general anaesthesia.
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The growth of the Asia Pacific Vascular Stent Market is driven by factors such as the growing incidence of Cardio Vascular Diseases (CVD), which are a consequence of absence of physical activity and a morbid diet. The availability of a huge population base in the Asia-Pacific further compounds the number of patients suffering from CVDs.
Furthermore, increasing preference of cardiovascular surgeons to use vascular stents due to the significantly low invasiveness of the procedure and the increasing geriatric population are set to enhance market growth in the future. However, strict regulation of product approval, the availability of alternative treatment techniques for CVDs and the high incidences of product failure and recalls are projected to be the major restraints of market growth.
The Asia Pacific Vascular Stent Market is segmented on the basis of Product, Type, Mode of Delivery, Material, End User and Geography. Based on the Product, the Vascular Stent market is divided into Peripheral Stents, Coronary Stents, and EVAR Stent Grafts.
Based on Type, the Vascular Stent Market is segmented into Bare-Metal Stents, Drug Eluting Stents, and Bio absorbable Stents. On the basis of Mode of Delivery, the market is categorised into Self-Expanding Stents and Balloon Expanding Stents.
Further, based on Material, it is divided into Metal and Polymer. On the basis of End User, the market is distributed among Hospitals and Research Institutes.
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The Asia-Pacific region is geographically segmented into China, India, Japan, South Korea, and Australia. Factors such as growing elderly population with consequent cardiovascular ailments, and growing disposable incomes due to emerging economies in countries such as India and China are expected to lead the growth of the market in this region.
Asia-Pacific is a fast developing Vascular Stent Market which is expected to grow at the highest CAGR, due to the availability of massive untapped markets and enormous population base. The low manufacturing cost of these products are upholding a very healthy environment for market growth in this region.
The significant players in the Asia Pacific Vascular Stent Market include Medtronic, plc (Ireland), Abbott Laboratories (U.S.), Boston Scientific Corporation (U.S.), BIOTRONIK SE & Co. KG (Germany), B. Braun Melsungen AG (Germany), Terumo Corporation (Japan), STENTYS SA (France), MicroPort Scientific Corporation (China), Meril Life Sciences Pvt. Ltd. (India), Vascular Concepts (India), W. L. Gore and Associates (U.S.), C. R. Bard (U.S.), Endologix, Inc. (U.S.), Lombard Medical Technologies (U.K.), Translumina GmbH (Germany), and JOTEC GmbH (Germany).
The presence of numerous players at the global as well as local level results in the formation of a very fragmented market in the Asia-Pacific.
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