Market Trends of Global Peripheral Stent Industry
This section covers the major market trends shaping the Peripheral Stent Market according to our research experts:
The Renal and Related Stents Segment is Expected to Hold Significant Market Share Over the Forecast Period
Renal stents are tubes usually placed in the ureter to prevent blockage and allow urine flow from the kidney to the urinary bladder. The renal and related stent segment is expected to grow over the forecast period due to the prevalence of kidney stones and urinary tract infections (UTIs). For instance, according to the study published in the BMC Urology in October 2021, kidney stones are becoming more common worldwide. In Iran, about 5% of women and 12% of men experience kidney stones at some point.
Additionally, atherosclerosis is a disease that often causes the blockage of renal arteries, leading to renal artery stenting procedures. The increasing prevalence of atherosclerosis is a major factor expected to drive the segment's growth. For instance, according to an article published by JAMA Network in June 2022, a study was conducted in Sweden which showed that the prevalence and burden of atherosclerosis in the general population have been very high, and the estimated prevalence of poly-vascular atherosclerosis ranged from 3% to 42%.
To achieve their growth goals and expand their market share, market players employ a variety of strategic initiatives. New products are being launched, partnerships and collaborations are being formed, local and regional footprints are expanding, and key companies are pursuing mergers and acquisitions. For instance, according to the ClinicalTrials.gov updates on May 2022, a clinical trial is being conducted by Adva-Tec to demonstrate safety and device performance of the ADVA-Tec Uriprene Degradable Temporary Ureteral Stents.
North America is Expected to Hold a Significant Share in the Market Over the Forecast Period
North America is expected to hold a significant market share in the peripheral stent market due to the rising burden of peripheral diseases coupled with the rising geriatric population and the product launches by key market players.
According to the data published by Statistics Canada in July 2022, it is estimated that around 7,330,605 people are aged 65 years or older in Canada, and this accounts for 18.8% of the total population. As the geriatric population is more prone to peripheral diseases, the rising geriatric population is expected to raise the demand for peripheral stents, thereby driving market growth in the region.
According to an article published in Circulation Research in June 2021, peripheral arterial disease is estimated to affect 8.5 million adults in the United States, with a prevalence of 7%. The growing prevalence of PAD diseases in the country has boosted the demand for various treatment options, such as peripheral stents. Thereby, it is anticipated to drive the growth of the peripheral stent market over the forecast period.
Additionally, increasing approvals from the United States FDA and product launches by key players are expected to boost the market. For instance, in August 2021, Vascular Flow Technologies Limited, a designer and developer of implantable medical devices to improve cardiovascular system outcomes, reported that a United States Patent for peripheral stent was issued by the United States Patent and Trademark Office.
