North America Stents Market size surpassed USD 2.7 billion in 2020 and is predicted to expand at over 0.3% CAGR from 2021 to 2027.
Growing prevalence of coronary artery diseases and rising demand for percutaneous coronary intervention procedures will boost the market growth. Rising prevalence of cardiovascular diseases such as heart attack and stroke along with growing geriatric population is expected to propel the demand for coronary stents. However, product failure and product recall due to safety issue along with stringent regulatory scenario in developed countries will restrain the market growth.
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Self-expanding stents industry revenue is poised to reach USD 1 billion by 2027. Self-expanding stents are constrained within a delivery catheter until deployed and positioned. This delivery device is smaller than the balloon expandable stents system, thereby offering a superior deployment option.
Metal segment size will cross USD 2.1 billion by 2027. Metal is widely used for manufacturing a medical device as it has flexibility, lower rates of fracture and biocompatibility. Metal stents reduces the incidence of restenosis and abrupt vessel closure compared with balloon angioplasty. That decreases the rate of target lesion revascularization.
Vascular stents market value was more than USD 2.5 billion in 2020. Coronary artery disease is one of the leading causes of mortality and morbidity in the U.S. Coronary angioplasty is one of the widely used procedure during the treatment of blockages in arteries. As increasing number of people are suffering from coronary artery diseases, the demand for usage of stents is increasing. However, with the availability of drugs for management of angina and high cost of the surgery, the market is showing declining growth rate.
Ambulatory surgical center segment accounted for USD 585.3 million revenue in 2020. Ambulatory surgical center is well equipped with all medical devices including stents that are essential devices. This device is used mostly during the minimally invasive surgical procedures. Also, reduced hospital stays, and quick recovery are few of the advantages associated with ambulatory surgical centers.
U.S. market size for stents was over USD 2.6 billion in 2020. Growing proportion of geriatric population in the country will have a positive impact on the regional market revenue. High pervasiveness of CVDs has increased the demand of stents due to advance technology. High pervasiveness of coronary disorders is due to adoption of sedentary lifestyle along with sub-optimal diet that will further drive the industry growth. Availability of advanced hospital infrastructure along with presence of major players will be the key factor influencing the U.S. market demand.
Prominent players operating in the North American stents market are Abbott Laboratories, Boston Scientific Corporation and Medtronic.
Companies undertake various strategies such as mergers, collaborations, new product launch, acquisitions, geographic expansions to strengthen their market share. For instance, in 2018, Boston Scientific launched self-expanding Eluvia drug-eluting stent system. This launch has increased the company’s product portfolio and revenue.