Published Date: 2021-02-15
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APAC Stents Market size is anticipated to reach USD 9.4 billon by 2027, according to a latest forecast report by Graphical Research. Rising geriatric population base coupled with presence of large number of manufacturers in the region will spur the market expansion.
Advancement in healthcare technology is increasing that will drive the Asia Pacific stents market in the region. Stenting technology is increasing and mostly preferred over conventional balloon angioplasty due to introduction of advanced DES and evolving of bioresorbable scaffolds. Advancement in technology in coronary stents including biodegradable materials have led to efficient and better outcomes pertaining to the cardiovascular disease treatment.
Increasing number of elderly population will drive the market in the region. The number of these patients that undergo percutaneous coronary intervention has increased tremendously over the last decade. PCI is effective in old age including careful approach to patient selection to obtain better outcome is essential. Due to this advantage, there is an increase in usage of stents that drives the market size in the region. However, stringent regulatory approvals may restrain the market growth.
On the basis of product, the stents market is segmented into vascular stents and non-vascular stents. Non-vascular stents segment accounted for USD 477.3 million revenue in 2020. Nonvascular stents are used for various application such as oesophageal, bronchial, including biliary and tracheal implantations. Stents employ minimally invasive procedures for implantation that is preferred in contrast to an open surgical procedure. This increases the demand of usage of stents and propels the segmental growth.
On the basis of material, the market is bifurcated into metal and polymer. The polymer stents segment is expected to gather considerable gains of over 6.4% from 2021 to 2027. Polymers have wide application in cardiology especially in coronary vascular intervention as coating matrices and stent platforms for drug-eluting stents. Researchers are focusing on biodegradable polymers other than permanent polymers.
Browse detailed statistical insights from the report, “Asia Pacific Stents Market Size By Material (Metal, Polymer), By Product (Vascular Stents {Coronary Stents [Bare Metal Stents, Drug Eluting Stents, Bioresorbable Stents], Peripheral Stents [Iliac, Femoral-popliteal, Renal, Carotid], Neurovascular Stents}, Non-Vascular Stents), By Type (Self-expandable, Balloon-expandable), By End-use (Hospital, Ambulatory Surgical Centers), Research Report, Country Outlook (Japan, China, India, Australia, Singapore, South Korea, Malaysia, Thailand, Philippines, Indonesia), Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2021 - 2027” along with the table of contents (ToC) @
https://www.graphicalresearch.com/industry-insights/1644/asia-pacific-stents-market
Based on type, the market is segmented into self-expandable and balloon expandable stents. Self-expandable stents segment size is expected to cross USD 3.6 billion by 2027. Self-expandable stents are developed in certain size and then constrained and collapsed on the distal end of the stent delivery system. This leads to increase in outcome for the percutaneous coronary intervention procedure.
On the basis of end-use, the APAC stents market is divided into hospital, ambulatory surgical center and others. Ambulatory surgical centers segment revenue was over USD 1.3 billion 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 and surgical procedures. Also, other advantages associated with ambulatory surgical centers is reduced hospital stay and quick recovery.
The Australia stents market is predicted to register a growth of over 5.4% between 2021 and 2027. Growing adoption of sedentary lifestyle with lack of physical activity and consumption of sub-optimal diet will lead to high risk of cardiovascular disorders. Also growing geriatric population and increasing prevalence of chronic diseases are positively influencing the market.
Major players operating in the market are Abbott Laboratories, Boston Scientific Corporation and Medtronic, among others. These market players focusing on various business strategies such as collaboration, geographic expansion to strengthen their market position. For instance, in September 2020, OrbusNeich Medical Co. Ltd announced launch of its Combo Bio-engineered sirolimus eluting stent in China. This approval will strengthen the company’s presence in the growing market and increase its revenue generation stream.
The APAC stents market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2016 to 2027, for the following segments:
Asia Pacific Market, By Product, 2016-2027 (USD Million)
Asia Pacific Market, By Material, 2016-2027 (USD Million)
Asia Pacific Market, By Type, 2016-2027 (USD Million)
Asia Pacific Market, By End-Use, 2016-2027 (USD Million)
The above information is provided for the following countries:
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