Published Date: 2021-02-18
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European Stents Market size is slated to surpass USD 1.7 billion by 2027, according to a latest forecast report by Graphical Research.
European stents market is witnessing robust growth owing to rising demand for minimally invasive procedures and novel product launch for various treatment. For instance, Abbott has introduced new stent in the European market namely, the Xience Sierra. This new generation of drug eluting stent is used for patients with coronary artery disease. This new launch can help to minimize the low rates of stent thrombosis as well as enhancement in treatment options, thereby supplementing the market expansion.
Growing prevalence of cardiovascular disease (CVD) is one of the major causes of death across the European region. For instance, according to the World Health Organization (WHO), around 3.9 million individuals die every year due to CVD in Europe and over 1.8 million people die in the European Union. Thus, significant increase in number of deaths and individual suffering from CVD will lead to high demand for intervention procedure, fostering the market size. Furthermore, stents are also used to treat coronary artery disease, it is one of the most common practice to insert stent and hold coronary artery open that help to maintain the blood flow after an angioplasty.
Based on product, the market is segmented into vascular stents and non-vascular stents. The non-vascular stents market accounted for USD 169.8 million revenue in 2020 due to increasing prevalence of chronic diseases and technological developments in non-vascular stents. For instance, gastrointestinal (GI) stent has been developed for palliation of obstructive symptoms in various diseases causing obstruction of GI tract. Similarly, advancements stent placement technique including endoscopic ultrasound guided (EUS) stenting used for placement across the obstruction via fistula EUS-BD.
Based on material, the Europe stents market is divided into metal and polymer. The polymer stent segment size was over USD 361.2 million in 2020. Polymer stents are widely used in cardiology procedures especially in coronary vascular intervention, as these polymer material stents comprises great barrier properties that are attributable to lower permeability. Also, polymer stents offer pinhole-free conformal insulation that makes it the choice for first layer device coating material.
Browse detailed statistical insights from the report, “European Stents Market Size By Type (Self-expandable Stents, Balloon-expandable Stents), 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 End-use (Hospital, Ambulatory Surgical Centers), Research Report, Country Outlook (Germany, UK, France, Spain, Italy, Netherlands, Belgium, Poland, Denmark, Sweden, Ireland, Switzerland, Norway), Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2021 - 2027” along with the table of contents (ToC) @
https://www.graphicalresearch.com/industry-insights/1642/europe-stents-market
Based on type, the market is segmented into balloon-expandable stents and self-expandable stents. The self-expandable stents market is expected to show significant growth of 2.2% from 2021 to 2027. High growth rate is owing to its advantages, as these stents are made of a laser-cut, cylindrical metal mesh that exerts its self-expanding force. Also, these stents are released in lumen for the purpose of recovering the intestinal lumen of a stenosed area (malignant obstruction). Therefore, the usage of self-expanding stents in various treatment procedures and solutions will boost the market growth. Furthermore, increasing use of self-expandable stents in treatment of esophageal cancer will spur the market revenue.
Based on the end-use, the Europe stents market is classified into hospitals, ambulatory surgical centers, and others. Ambulatory surgical centers segment revenue crossed USD 302.5 million in 2020 and is expected to show a CAGR of 2.1% through 2027 attributed to rising number of patients visiting ambulatory surgical centers for stent implantation surgeries. For instance, according to the European Society for Vascular Surgery (ESVS) report 2019, around 32% of individuals underwent adjunctive stent placement in the ambulatory surgical centers. Thus, increasing patient preference of ASCs for the treatment and procedure will boost the segment growth. Furthermore, presence of professional interventional cardiologist coupled with advanced facilities in ambulatory surgical centers will further foster the market demand.
The Germany stents market exceeded USD 308.5 million during the forecast period. Rising geriatric population in the country with the consequent incidence rate of cardiovascular disease is key factor that is contributing to the market growth. For instance, as per the Robert Koch Insitut (RKI) report, CVD is the leading cause of deaths in Germany causing total of approximately 40% of all deaths. It also stated that, coronary heart disease, stroke and heart attacks has become the most public health relevance. Thus, growing prevalence of such disease conditions will increase the product demand. Furthermore, favorable reimbursement by government for surgical procedure particularly in Germany will drive the regional growth.
Major players operating in the market are Boston Scientific, Medtronic, B Braun, Biotronik, Abbott and Stryker Corporation among few other players. These market players focusing on various business strategies such as collaboration, geographic expansion to strengthen their market position. For instance, in February 2020, Biotronik announced CE mark certification for the Orsiro Mission drug eluting stent (DES). This strategy helped the company in strengthening its vascular stent product portfolio, thereby increasing more revenue and outreach to untapped economies.
The European 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:
Europe Market, By Product
Europe Market, By Material
Europe Market, By Type
Europe Market, By End-Use
The above information is provided for the following countries:
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