Peripheral Vascular Stents Market Size & Share, By Type (Drug Eluting Stents, Bare Metal Stents, Bioabsorbable Stents), Mode of Delivery, Product, End-use, Regional Forecast, Industry Players, Growth Statistics Report 2024-2032

Market Outlook:

Peripheral Vascular Stents Market was over USD 1.82 Billion in 2023 and is expected to exceed USD 3.49 Billion by end of the year 2032, observing around 7.5% CAGR between 2024 and 2032.

• Base Year Value (2023): USD 1.82 Billion
• CAGR (2024-2032): 7.5%
• Forecast Year Value (2032): USD 3.49 Billion
• Historical Data Period: 2019-2023
• Largest Region: North America
• Forecast Period: 2024-2032

Market Dynamics:

Growth Drivers & Opportunity:

One of the primary growth drivers for the Peripheral Vascular Stents Market is the increasing prevalence of peripheral artery disease (PAD). As the global population ages, there is a higher occurrence of cardiovascular diseases, which significantly contributes to the development of PAD. The rising awareness and diagnosis of this condition have led to an increased demand for effective treatment options, including peripheral vascular stents. Additionally, advances in medical technology and stent design have further expanded the capabilities and applications of these devices, promoting their adoption in clinical practice.

Another significant growth driver is the ongoing innovation in stent materials and technologies. Manufacturers are focusing on developing drug-eluting stents and bioresorbable stents, which offer enhanced performance, reduced complications, and improved patient outcomes. These advancements help in addressing some of the limitations of traditional stents, such as thrombosis and restenosis. The introduction of minimally invasive procedures is also boosting the demand for peripheral vascular stents, leading to a positive outlook for market growth.

The increasing healthcare expenditure and investment in the medical device sector across different regions also serve as a growth driver. Governments and private organizations are prioritizing the enhancement of healthcare infrastructure and the integration of advanced medical technologies. This trend is particularly prominent in emerging economies, where rising disposable incomes and healthcare access are boosting the market for peripheral vascular interventions. The overall growth in healthcare spending fosters an environment for the development and distribution of innovative stenting solutions.

Report Scope

Report Coverage	Details
Segments Covered	Type, Mode Of Delivery, Product, End-Use
Regions Covered	• North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA)
Company Profiled	Medtronic, Terumo Medical, Abbott, Biotronik, Lifetech, iVascular SLU, Stryker, Cook Medical, Microport Scientific, Stentys S.A., Hellman & Friedman

Industry Restraints:

Despite the positive growth outlook, the Peripheral Vascular Stents Market faces several restraints, one being the risk of complications associated with stent implantation. Adverse events such as infection, thrombosis, and restenosis can deter patients and healthcare providers from opting for stent procedures. The fear of these potential complications may result in a cautious approach to the use of peripheral vascular stents, thus hindering market growth.

Another restraint is the stringent regulatory environment surrounding medical devices. Manufacturers must comply with rigorous quality control standards and obtain necessary approvals before launching new products. This regulatory burden can lead to prolonged development timelines and increased costs, which may limit the pace of innovation in the peripheral vascular stent market. As companies navigate these challenges, the overall impact on market growth may be constrained.

Regional Forecast:

North America:

The North America peripheral vascular stents market is expected to witness significant growth due to the increasing prevalence of peripheral artery disease (PAD) in the region. The United States accounts for a major share of the market, with a high incidence of cardiovascular diseases driving the demand for peripheral vascular stents. Canada is also expected to contribute to the market growth, with a growing aging population and increasing healthcare expenditure.

Asia Pacific:

The Asia Pacific peripheral vascular stents market is anticipated to experience rapid growth, primarily driven by countries like China, Japan, and South Korea. The increasing adoption of unhealthy lifestyles leading to a rise in cardiovascular diseases is expected to boost the demand for peripheral vascular stents in these countries. China, with its large population and rising disposable income, is projected to be a key market for peripheral vascular stents.

Europe:

In Europe, countries like the United Kingdom, Germany, and France are expected to be significant contributors to the peripheral vascular stents market. The region's well-established healthcare infrastructure, increasing geriatric population, and high prevalence of lifestyle-related diseases are anticipated to drive market growth. The United Kingdom, in particular, is expected to witness substantial growth in the market due to the rising incidence of PAD and peripheral artery stenosis.

Segmentation Analysis:

In terms of segmentation, the global Peripheral Vascular Stents market is analyzed on the basis of Type, Mode Of Delivery, Product, End-Use.

Peripheral Vascular Stents Market:

Drug Eluting Stents:

The drug eluting stents segment of the peripheral vascular stents market is expected to witness significant growth during the forecast period. These stents are coated with medications that help prevent restenosis and reduce the need for repeat procedures. The growing prevalence of vascular diseases and the increasing adoption of minimally invasive procedures are driving the demand for drug eluting stents in the market.

Bare Metal Stents:

The bare metal stents segment is also projected to experience steady growth in the peripheral vascular stents market. These stents are made of metal alloys such as stainless steel and cobalt-chromium, providing structural support to the blocked or narrowed arteries. The cost-effectiveness and ease of use of bare metal stents make them a popular choice among healthcare providers and patients.

Bioabsorbable Stents:

Bioabsorbable stents are gaining traction in the peripheral vascular stents market due to their ability to dissolve over time, eliminating the need for long-term medication and reducing the risk of late stent thrombosis. The segment is expected to witness rapid growth with advancements in technology and increasing awareness among patients about the benefits of bioabsorbable stents.

Mode of Delivery:

The mode of delivery of peripheral vascular stents, including balloon-expandable stents, self-expandable stents, and balloon catheters, plays a crucial role in determining the success of the procedure. Healthcare providers are increasingly opting for self-expandable stents due to their flexibility and ease of deployment, leading to the growth of this segment in the market.

Product:

The peripheral vascular stents market offers a wide range of products, including coronary stents, iliac stents, femoral stents, renal stents, and carotid stents. The increasing prevalence of peripheral vascular diseases and the rising geriatric population are driving the demand for these products in the market. Coronary stents are the most commonly used product in the peripheral vascular stents market, owing to the high incidence of coronary artery diseases.

End-use:

Hospitals, ambulatory surgical centers, and specialty clinics are the key end-users of peripheral vascular stents. Hospitals account for the largest share of the market due to the availability of advanced infrastructure and skilled healthcare professionals. Ambulatory surgical centers are gaining popularity among patients for minimally invasive procedures, boosting the demand for peripheral vascular stents in this segment. Specialty clinics cater to patients with specific vascular conditions, further driving the market growth.

Competitive Landscape:

The competitive landscape in the Peripheral Vascular Stents Market is highly competitive as several key players are striving to gain a significant market share. These companies are investing in research and development activities to introduce innovative products, enhance their product portfolios, and expand their geographic presence. Some of the top market players operating in the Peripheral Vascular Stents Market include:

1. Medtronic

2. Abbott Laboratories

3. Boston Scientific Corporation

4. B. Braun Melsungen AG

5. C.R. Bard, Inc.

6. Cook Medical

7. Terumo Corporation

8. Cardinal Health

9. MicroPort Scientific Corporation

10. W.L. Gore & Associates