Market Size of Global Peripheral Stent Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.50 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Peripheral Stent Market Analysis
The peripheral stent market is expected to grow at a registered CAGR of 5.5% during the forecast period.
During the pandemic, the number of surgical procedures for peripheral arterial disease (PAD) patients got restricted, and the willingness to seek medical treatment also changed. The number of patients with PAD who underwent surgery was significantly reduced, but the severity of their limb ischemia was significantly higher than the previous year, resulting in a higher rate of perioperative complications. According to an article published by PubMed Central in August 2021, during the early pandemic, the reduced number of regular medical follow-ups and hindered hospital access resulted in more acute and advanced clinical presentations of patients with PAD undergoing surgery. Thus, the COVID-19 pandemic significantly impacted the market initially, however, as the pandemic has subsided, cardiological procedures are taking place normally. Hence the studied market is expected to have stable growth during the forecast period of the study.
The peripheral stent market is expected to grow due to the rise in the prevalence of peripheral diseases, the rise in the geriatric population, and the launch of advanced products. For instance, according to the CDC Report in September 2021, PAD affects both men and women, but African Americans are at a higher risk of developing it. When compared to non-Hispanic white people, Hispanics may have similar to slightly higher rates of PAD. PAD affects approximately 6.5 million people in the United States aged 40 and up. Thus, the rising prevalence of PAD is expected to increase the demand for peripheral stents, thereby boosting the market growth.
Additionally, the senior population, which is more prone to developing peripheral vascular diseases, is anticipated to drive the market growth. For instance, as per UN World Population Prospects 2022 data, the share of the global population aged 65 years or above is projected to rise from 10% in 2022 to 16% in 2050. Also it is estimated that by 2050, the number of persons aged 65 years or over worldwide is projected to be more than twice the number of children under age 5 and about the same as the number of children under age 12.
Furthermore, market players use a variety of strategic initiatives to meet their growth goals and expand their market share. Key companies are launching new products, forming partnerships and collaborations, expanding their local and regional footprints, and pursuing mergers and acquisitions. For instance, in March 2022, Cordis, received FDA approval for its Smart Radianz Vascular Stent System, a self-expanding stent designed explicitly for radial peripheral procedures
The market may be in a position to grow, however, the stringent approval process for a stent may restrain it over the forecast period.
