Market Trends of Self-Expanding Stents Industry
The Carotid Self-expanding Stents Segment is Expected to Witness Growth Over the Forecast Period
The carotid self-expanding stents segment is expected to witness significant growth in the market over the forecast period owing to factors such as the rising prevalence of cardiovascular diseases, strategic initiatives by key market players, and advancement in healthcare technology are ultimately driving the market growth.
Continuous new product developments in the self-expanding stents by major players in the market are positively affecting the segment's growth. For instance, in September 2022, Optimed's Tentos 4-f stent system was launched in Europe. It is a self-expanding stent system for treating superficial femoral and infrapopliteal arteries. It is now commercially available in more than 70 countries that recognize the C.E. mark.
Furthermore, the company's growing focus on collaborations and acquisitions to withhold its market position contributes to market growth. For instance, in June 2022, Boston Scientific agreed to purchase a majority stake in M.I. Tech from Synergy Innovation. M.I. Tech is the creator of the HANAROSTENT technology, a family of conformable, non-vascular, self-expanding metal stents. The agreement consists of a purchase price of approximately USD 230 million at current exchange rates, subject to closing adjustments. Therefore, the Carotid self-expanding stents segment is expected to witness significant growth over the forecast period due to the abovementioned factors.
North America is Expected to Dominate the Self-Expanding Stents Market
North America is expected to dominate the self-expanding stents market over the forecast period owing to the factors such as significant presence of key players, the adoption of various strategies initiated by key companies to increase advancement in healthcare technology, rising demand for minimally invasive procedures and new product launches.
Furthermore, the growing focus of companies on developing advanced products and adopting various business strategies, such as collaborations and acquisitions to withhold their market position, is also contributing to the market growth. For instance, in August 2022, Medtronic launched the latest drug-eluting coronary stent, system, it employs a more deliverable system that includes an innovative dual-layer balloon, a lower profile for crossing, and increased catheter flexibility. All these refinements point to a 16% improvement in deliverability compared to the previous generation while maintaining its superior radial strength.
Similarly, rising demand for the usage of minimally invasive procedures is the factor boosting market growth. For instance, in 2021, a research study published by the national library of medicine (NIH) stated that the use of self-expandable metallic stents for endoscopic biliary decompression decreases stent complications in pancreatic cancer patients receiving chemotherapy and stated that its adoption is increasing owing to added benfits of self-expandable metallic stent (SEMS). Therefore, owing to the aforesaid factors the growth of the studied market is anticipated in the North America region.
