Global Venous Stents Market Size

Venous Stents Market Analysis

The venous stents market studied was projected to grow with a CAGR of nearly 9.8% over the forecast period (2022-2027).

Due to the high infection rate and lockdown regulations brought on by the COVID-19 pandemic, surgical procedures have been affected. Additionally, patients with cardiovascular diseases have experienced delays in diagnosis and treatment as a result of fewer people visiting hospitals and diagnostic facilities, which has had an effect on the market for coronary stents. According to the study titled "The impact of the COVID-19 pandemic on vascular surgery: Health care systems, economic, and clinical implications" published in the Seminar in Vascular Surgery in September 2021, in ambulatory care and outpatient clinics, 89.2% of vascular surgeons reported changes to their practise, including fewer hours worked (71%), and the use of telemedicine services (81.1%). The daily average for inpatient consultations decreased to just 1.81 per day and surgical volume decreased by 71.7% and 96.5%, respectively. Vascular surgery has undoubtedly had a considerable overall impact. Therefore, the market for venous stents was considerably hit by the COVID-19 drop in vascular surgery, but it is anticipated that market will resume growth over the projection period.

The major factor attributing to the growth of the market is the rising incidence of chronic symptomatic venous diseases like chronic deep vein thrombosis, Post-thrombotic syndrome, May-Thurner syndrome, Nutcracker syndrome, Hemodialysis/arteriovenous fistulae, etc. couple with the rising in the geriatric population.

According to the study titled "Incidence of proximal deep vein thrombosis in medical critical care patients" published in Thrombosis Journal in February 2022, deep vein thrombosis affects 13%-31% of medical critical care patients (DVT). The incidence proportion was 10.1%, and the prevalence was 5.7%. As per the statistics, there is a significant rise in the patient pool which is expected to boost the market growth. The other important factor propelling the market growth is the increasing geriatric population who are prone to such diseases. Additionally, according to the study titled "Prevalence of post-thrombotic syndrome in a cohort of upper extremity vein thrombosis" published in the Journal of Vascular Surgery: Venous and Lymphatic Disorders in January 2022, 14.1% of cases of upper extremity PTS (UE-PTS) occurred following upper extremity venous thrombosis (UEVT). A stroke along with a reduction in limb mobility was a risk factor for Post-thrombotic syndrome (PTS). Thus, growing prevalence of venous diseases is expected to boost the demand for venous stent devices, thereby boosting the market growh.

Additionally, it is anticipated that the launch of new products and improvements in stent technology made by the leading market participants in the region will accelerate growth in the market under study. For Instance, in October 2020, Medtronic plc has received United States Food and Drug Administration (FDA) approval for the Abre venous self-expanding stent system. This device is indicated for use in the iliofemoral veins in patients with symptomatic iliofemoral venous outflow obstruction, also known as deep venous obstruction.

However, the lack of awareness of the venous stents and the high cost of stenting are major drawbacks for market growth.