CV stents market expected to exceed $13B by 2025
The cardiovascular stents market is expected to reach $13.1 billion by 2025, up from $7.8 billion in 2017, according to projections from Fortune Business Insights.
Fortune Business Insights’ most recent report on CV stents estimates a compound annual growth rate of 6.6% through 2025—an increase driven largely by updated drug-eluting systems (DES) and the development of bioresorbable stents. While DES already hold a significant share of the stent market, key pharmaceutical companies are consistently developing and introducing next-generation drugs for such systems, establishing DES as a dominant sector of the market.
The relative increase in poor CV health worldwide—attributable to poor eating habits, higher rates of diabetes and more complex heart disorders—will also fuel the stent market, according to the report. Coronary stent surgery was the most common CV treatment in 2017, claiming a market share of 66.9%, and the worldwide obesity epidemic is only going to drive the demand for CV devices.
“However, the market may face challenges due to the presence of alternative treatment methods for vascular disease,” the report read. “Again, the complexity of cardiovascular stent implantation may cause patients to opt for other treatment options and this may restrict growth in the market. Besides this, incident of product recalls and failures may also hamper the market in the future.”
The stents market in North America is dominant, valued at $2.3 billion in 2017. The report stated that dominance is likely the result of better medical facilities and more qualified physicians in Canada and the U.S., and while America will probably remain dominant in the near future, other regions will also experience growth.
The market for CV stents in Asia Pacific, in particular, is likely to exhibit a higher growth rate due to improved distribution of stents in emerging economies like China and India. Price capping in those areas improves the accessibility of stents, helping the local market gain traction. The authors of the report said Asia Pacific will likely register itself as the fastest-growing region during the forecast period.
Find the full report here.
After graduating from Indiana University-Bloomington with a bachelor’s in journalism, Anicka joined TriMed’s Chicago team in 2017 covering cardiology. Close to her heart is long-form journalism, Pilot G-2 pens, dark chocolate and her dog Harper Lee.