Self-expanding Stents Market Size, Share & Trends Analysis Report By Product (Carotid Self-expanding Stents, Gastrointestinal Self-expanding Stents), By Application, By End-use, By Region, And Segment Forecasts, 2023 - 2030

Self-expanding Stents Market Size &Trends

The global self-expanding stents market size was valued at USD 3,222.0 million in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 4.0% from 2023 to 2030. Technological innovations have led to the development of highly sophisticated and efficient self-expanding stents that offer enhanced patient outcomes and improved quality of life. These stents utilize cutting-edge materials and engineering designs, allowing for improved flexibility, better conformability to vessel anatomy, and reduced risk of complications.

The stringent lockdowns and restrictions implemented worldwide to curb the spread of the COVID-19 pandemic resulted in a substantial decline in elective medical procedures, including those related to cardiovascular interventions, where self-expanding stents were commonly utilized. Furthermore, hospitals and healthcare facilities were overwhelmed with COVID-19 cases, and resources were redirected towards managing the pandemic, prioritizing the treatment of infected patients and postponing non-emergency procedures. Consequently, patients with non-urgent cardiovascular conditions postponed their stent implantation procedures, leading to a decrease in demand for self-expanding stents.

The high prevalence of heart-related diseases is a substantial growth driver for the self-expanding stents market. Heart-related diseases, such as coronary artery disease (CAD) and peripheral artery disease (PAD), are widespread globally and continue to pose significant health challenges and deaths. For instance, according to the WHO, globally, an estimated 17.9 million people lose their lives each year due to cardiovascular diseases (CVDs), which are the primary cause of death. As the incidence of these diseases rises due to factors like poor dietary habits, sedentary lifestyles, and an aging population, the demand for effective treatment options, including self-expanding stents, also increases. Self-expanding stents play a crucial role in the treatment of narrowed or blocked arteries by providing structural support and facilitating improved blood flow. Such aforementioned factor is anticipated to boost market growth.

Product Insights

Based on the product, the self-expanding stents market is segmented into carotid self-expanding stents, gastrointestinal self-expanding stents, endovascular self-expandable stents, and others. The carotid self-expanding stents segment held the largest market share in 2022. A prominent growth driver for carotid self-expanding stents is the rising incidence of carotid artery stenosis, a condition characterized by the narrowing of the carotid arteries due to the accumulation of plaque.

Carotid artery stenosis poses a significant risk for stroke, a severe and potentially life-threatening condition. As the aging population continues to grow, coupled with lifestyle factors like poor diet and limited physical activity, the prevalence of carotid artery stenosis is on the rise.

Application Insights

On the basis of application, the market is segmented into fem-pop artery, iliac artery, carotid artery, biliary, and other. The carotid artery held the largest sales channel in 2022. The significant growth driver for the carotid artery application is the increasing recognition of carotid artery stenting (CAS) as an effective and less invasive treatment for carotid artery disease. Furthermore, increasing the adoption of a sedentary lifestyle is expected to increase the rate of heart-related diseases. Moreover, clinical research and trials showcasing the efficacy and long-term benefits of using self-expanding stents in carotid artery interventions contribute to a favorable outlook for this market segment. The emphasis on improving patient outcomes, reducing post-operative complications, and enhancing the overall quality of life for individuals at risk of stroke significantly propels the growth of the self-expanding stents market.

End-Use Insights

Based on end use, the self-expanding stents market is segmented into hospitals, ambulatory surgical centers, and others. The ambulatory surgery centers segment is expected to be the fastest-growing segment during the forecast period. The substantial presence of Ambulatory Surgery Centers (ASCs) drives the self-expanding stents market, making ambulatory surgical centers the fastest-growing segment. Moreover, a key growth driver for ASCs is the increasing trend toward outpatient or ambulatory procedures.

Ambulatory surgery centers offer a convenient and cost-effective alternative to traditional hospital settings for a range of medical procedures, including cardiovascular interventions involving self-expanding stents. ASCs provide a patient-friendly environment, efficient processes, and streamlined operations, allowing for faster procedures and shorter recovery times compared to inpatient hospital stays.

Regional Insights

North America dominated the market in 2022. A major growth driver for the North America self-expanding stents market is the increasing prevalence of cardiovascular diseases in the region. North America has been witnessing a rising incidence of conditions like coronary artery disease (CAD), peripheral artery disease (PAD), and carotid artery disease, primarily attributed to factors such as sedentary lifestyles, unhealthy dietary habits, and a rapidly aging population. As these cardiovascular diseases continue to pose significant health risks, the demand for effective and minimally invasive treatment options, including self-expanding stents, is escalating. Additionally, the region's robust healthcare infrastructure, coupled with substantial investments in research and development, allows for the rapid adoption of advanced self-expanding stent technologies.

Key Companies & Market Share Insights

Key players operating in the market are Abbott Laboratories, Medtronic, Becton, Dickinson and Company, Cardinal Health, Cook Medical, Edward Lifesciences Corporation, Stryker, Boston Scientific Corporation, B. Braun Melsungen AG, Terumo Corporation, BIOTRONIK SE & Co. KG, and Olympus Corporation. The market participants are constantly working towards new product development, M&A activities, and other strategic alliances to gain new market avenues. The following are some instances of such initiatives:

• In July 2022, Biotronik received FDA approval for the Pulsar-18 T3 peripheral self-expanding stent system. It is specifically designed to offer a better implantation process for endovascular treatments.

• In October 2020, Cook Medical received FDA premarket approval (PMA) for its Zilver Vena in the U.S.Zilver Vena is a stent used to treat iliofemoral venous disease.The stent was designed to balance flexibility and strength, ensuring it adapts to a patient's anatomy while also expanding enough to restore venou