PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1455698
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1455698
Surgical Stents Market size was valued at USD 6,923.50 Million in 2023, expanding at a CAGR of 10.17% from 2024 to 2032.
A surgical stent is a device made of acrylic that is placed over the teeth, bone surface, or tissue where an implant will be placed. The surgeon uses careful planning of the bone under the ridge to prepare surgical stents, which serve as guides during the implant placement. Some surgical stents can be created using Cad/Cam equipment. On the other hand, a cardiac stent is utilized to treat narrowed or blocked coronary arteries and can also enhance blood flow immediately after a heart attack. These cardiac stents are expandable coils constructed from metal mesh. Surgical stents are vital in various medical procedures as they provide support and ensure the openness of tubular structures within the body. Over time, these devices have undergone advancements in materials and design, resulting in improved clinical outcomes and patient care.
Surgical Stents Market- Market Dynamics
Rising demand for minimally invasive procedures are expected to drive the growth of market
Advancements in medical technology and surgical techniques have broadened the range of minimally invasive procedures, encompassing various medical specialties and clinical indications. Surgical stents are utilized in a wide array of minimally invasive interventions across specialties such as cardiology, vascular surgery, gastroenterology, urology, and pulmonology. According to a survey conducted by the American Society of Plastic Surgeons, Botox emerged as the most popular minimally invasive cosmetic procedure in the US in 2020, with over 4 million procedures performed. Moreover, continuous progress in stent design, materials, and delivery systems offers opportunities for innovation and product development in the surgical stents market. Nevertheless, the high cost of stent implantation may pose a hindrance to the market's growth.
Surgical Stents Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 10.17% over the forecast period (2024-2032)
Based on type segmentation, Cardiac Stents was predicted to show maximum market share in the year 2023
Based on Material segmentation, Metal was the leading type in 2023
Based on Application segmentation, Cardiac diseases was the leading type in 2023
Based on end user segmentation, Hospitals was the leading type in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Surgical Stents Market is segmented on the basis of Type, Product, Material, Application, End User, and Region.
The market is segmented into five distinct categories according to their type: Cardiac Stents, Urinary Stents, Biliary Stents, Esophageal Stents, Prostatic Stents, and Others. Among these categories, Cardiac Stents hold the largest market share. Competing companies are making significant investments in research and development to produce Cardiac Stents with enhanced features like drug-eluting capabilities, biodegradability, improved biocompatibility, and innovative designs.
The market is segmented into two categories according to Product: Non-Vascular Stents and Vascular stents. Both non-vascular and vascular stents play crucial roles in medical procedures, providing minimally invasive remedies for a diverse array of conditions. Progress in stent technology, materials, and design is propelling innovation in both sectors, resulting in enhanced patient results and increased treatment alternatives in numerous medical fields.
The market is categorized into three sections according to the Material used: Standard polymer, Metal, and Biodegradable polymer. Metal holds the largest share in the market. Metal stents, typically composed of stainless steel, cobalt-chromium alloy, or platinum-chromium alloy, provide numerous benefits in terms of mechanical properties, biocompatibility, and ease of deployment. Metal stents are available in different designs, such as bare-metal stents (BMS) and drug-eluting stents (DES).
The market is categorized into three sections according to Application: Urinary tract diseases, Cardiac diseases, and others. It is anticipated that Cardiac diseases will have the highest market share. The progress in stent technology is vital in enhancing the results for patients with cardiac diseases. Developments like drug-eluting stents (DES), bioresorbable stents, and bioactive coatings aim to decrease restenosis rates, minimize the risk of thrombosis, and encourage endothelial healing.
The market is categorized into two segments according to the end-user: hospitals, clinics, and others. The dominant force in the market is the hospital sector. Hospitals hold significant influence in the procurement and purchasing decisions concerning surgical stents. Evaluating various stent options, hospital administrators and purchasing departments consider factors like clinical efficacy, safety profile, cost-effectiveness, and supplier reliability.
Surgical Stents Market- Geographical Insights
The market is geographically widespread across North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided based on the countries involved in business activities. The growth of the market is expected to be dominated by North America, primarily due to its well-established healthcare infrastructure and advancements in healthcare technology. North America, specifically the United States and Canada, boasts a highly developed and strong healthcare infrastructure that includes advanced medical facilities, research institutions, and healthcare professionals. According to the Centers for Medicare & Medicaid Services, healthcare spending in the US grew by 4.1 percent in 2022, reaching USD4.5 trillion or USD13, 493 per person. Health spending accounted for 17.3 percent of the nation's Gross Domestic Product. Europe holds the second-largest region for market growth, mainly due to the increase in unhealthy and hectic lifestyles and the rise in the geriatric population.
The competitive landscape of the surgical stents market is characterized by intense competition driven by the growing demand for minimally invasive procedures and the constant innovation of new technologies. Companies are striving to outperform each other by introducing stents with advanced features like biodegradability, drug-elution capabilities, and enhanced designs to enhance efficacy and improve patient outcomes. Extensive research and development activities are focused on developing stents tailored to specific medical conditions while reducing complications and side effects. Competing firms are looking to expand their global market presence through the establishment of distribution networks, partnerships, and collaborations with healthcare providers and medical device distributors. Companies with a robust international presence are well-positioned to leverage opportunities in emerging markets and secure a competitive edge.
In September 2023, B. Braun is pleased to announce a significant achievement with the successful enrollment of the first patient in the reverse Trial. This trial aims to compare the outcomes of a drug-coated balloon versus a drug-eluting stent in patients with large coronary artery disease.
On April 6, 2021, Abbott made an announcement regarding its XIENCE stent. The stent has received CE Mark in Europe for a shorter duration of dual anti-platelet therapy (DAPT), with the shortest indication available worldwide being as short as 28 days. This is particularly beneficial for patients with high bleeding risk (HBR).
On May 23, 2018, Abbott received approval from the U.S. Food and Drug Administration (FDA) for XIENCE SierraTM, the latest generation of their XIENCE everolimus-eluting coronary stent system. XIENCE stents are widely used and extensively studied, boasting an exceptional safety record with minimal complications.
GLOBAL SURGICAL STENTS MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Abbott
B. Braun Melsungen
Boston Scientific
Stryker
STI Laser Industries
ELLA-CS
Laserage Technology
amg International GmbH
Meril, Elixir Medical
Amaranth Medical
Arterial Remodeling Technologies
Angiocare
Others