Market Size of Self-Expanding Stents Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 7.50 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
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?
Self-Expanding Stents Market Analysis
The self-expanding stents market is expected to register a CAGR of 7.5% over the forecast period.
The COVID-19 outbreak has had a huge influence on people's lives across the world. Only true emergencies, such as acute aortic dissections, were attended to during the peak, with all elective surgeries being postponed and patients being prioritized surgically. For instance, as per an article published in a European heat journal in October 2021, there was a reduction of 27.5% in admissions of acute coronary syndromes compared to 2019. Additionally, according to a research study published in March 2022, titled "The Effect of COVID-19 on Adult Cardiac Surgery in the United States in 717,103 Patients", it was concluded that there was a 52.7% reduction in adult cardiac surgery volume and a 65.5% reduction in elective cases, which indicates the negative impact of COVID-19 on the cardiac surgical procedures. However, the market started to gain traction owing to the resumption of surgical procedures worldwide. According to Eurostat, nearly 38,900 heart bypasses were conducted in Germany in 2020. The number of cardiac surgical procedures and stent implantations is projected to grow during the forecast period, positively impacting the market's growth.
The major factors propelling the growth of the self-expandable stents market include the high prevalence of heart-related diseases, advancement in healthcare technology, and increased demand for angioplasty.
Additionally, major market players' product launches and strategic activities positively affect the studied market's growth. For instance, in September 2022, Wallaby/phenox launched the Pegasus HPC stent system. It enables more patients to benefit from surface modification in stent-assisted coiling treatments, intracranial atherosclerotic disease (ICAD), and dissections. Applying this surface modification to the stent enhances safety by significantly reducing thrombogenic complications; the device addresses multiple indications while providing all the benefits of classic laser-cut, open-cell stents and adding increased patient safety.
Moreover, the worldwide advancement in healthcare technology is driving the demand for effective and advanced treatment services that involve various stent procedures. For instance, in April 2020, an article published in the national library of medicine, recent advances in manufacturing innovative stents shows aiming for greater patient safety and a higher success rate for cardiovascular treatments, researchers and doctors are focusing heavily on developing novel materials, methods, and solutions to improve the clinical outcome of currently available stent types. Therefore, owing to the abovementioned factors, the studied market is anticipated to witness growth over the analysis period.
