Luverne, Alabama Aug 17, 2021 (Issuewire.com) - Market Overview
Carotid stents are the medical devices placed in the carotid artery to remove the plaque formed. Stents placed in the carotid artery decrease the risk of stroke by widening the narrowed carotid artery and thus regulating a continuous blood flow.
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Market Dynamics
The carotid stent market growth is driven by the rise in prevalence of diseases such as cardiovascular diseases, growing geriatric population with bypass surgery, rising adoption of minimally invasive procedures, the surge in research and development initiatives for heart diseases, and increasing technological advancements are the major factors driving the carotid stents market.
Increasing technological advancements is expected to drive the global carotid stent market growth
For a considerable time, stents have been used as a part of coronary and peripheral procedures in many countries to avoid or neutralize the narrowing and hindering of vessels. The utilization of these stents has been effective; they are not without downsides and concerns. Restenosis, or the reoccurrence of vessel narrowing after the interventional procedure, is a typical symptom of a body's normal reaction to a foreign particle in the vasculature.
The drug-eluting stents (DES) result in better clinical outcomes by reducing the risk of restenosis significantly. New improvements in DES, such as biodegradable and bifurcated stents, are required to increase the market value of a company. Organizations like Biosensors and Abbott create biodegradable and bifurcated stents to manage issues of thrombosis, which is caused by long-term device implantation.
Rising demand for minimally invasive procedures is expected to drive the global carotid stent market growth
The demand for minimally invasive procedures has been rapidly increasing globally. MI procedures reduce the physical injury risk and the chances of an infection, thereby enabling patients to have a more convenient and quicker recovery. MI procedures have certain advantages, such as affordable cost and shorter hospital stays. These methods have shown better outcomes than traditional methods.
MI procedures for heart diseases involve the insertion of delicate instruments through a small incision. Patients treated with these technologies can expect lesser discomfort and scarring and quicker recuperation than conventional surgeries. MI procedures have helped in the effective management of a few infections. These have also allowed specialists to make substantially smaller incisions.
Stringent approval processes are likely to hinder the market growth
Approval processes in many of the counties are very stringent for carotid stents. As these are to be introduced in the body, they fall under Class II and III devices, and it involves lots of time and investment for the approval of stent systems. For instance, recently, Boston Scientific SYNERGY Stent gained PMA approval after years of clinical trials. According to Advanced Medical Technology Association, it is estimated that about 77% and 80% of the total cost incurred in bringing a class II and class III medical device, respectively, to market is spent on FDA-linked approval stages.
Complications associated with stents is likely to hamper the market growth
According to the European Society of Cardiology, the potential procedural and peri-procedural complications that may be related to carotid angioplasty and stenting may be categorized as minor or major complications, including
Carotid artery spasm, Sustained, hypotension/bradycardiaCarotid artery dissection, Contrast encephalopathy (infrequent), Minor embolic neurological events (TIAs) are the major complications and minor complications like Major embolic stroke, Intracranial hemorrhage, Hyperperfusion syndrome, Carotid perforation (very rare), Acute stent thrombosis (very rare), Complications at the site of the vascular access.
Segment Analysis
By Type
- Balloon-Expandable Stents
- Self-Expanding Stents
By Material
- Metals
- Cobalt-Chromium
- Platinum Chromium
- Nickel Titanium
- Stainless Steel
- Other Stents
By End-User
- Hospitals
- Ambulatory Surgical Centers
- Cardiac Centers
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Geographical Analysis
North America region holds the largest market share of the global carotid stent market
North America held the global market share due to factors such as the large population base, growing prevalence of cardiovascular diseases, rising adoption of advanced technologies. For instance, Adopting a sedentary lifestyle has severe implications for people's health and is known to cause diseases related to cardiovascular diseases, obesity, high blood pressure, etc. According to the World Health Organization, around about 60% - 85% of people worldwide have adopted a sedentary life. According to Centre for Disease Control and Prevention, around 31 million adults aged over 50 years lives a sedentary life, and only 1 out of 4 U.S. adults & 1 out five school student meets the guideline of physical activity. Heart disease is one of most leading causes of death in the U.S.; at least one person dies every 37 seconds due to cardiovascular disease, as reported by the Centre for Disease Control and Prevention. North American governments are taking measures to improve healthcare outcomes and reduce hospital expenditures; the adoption of advanced high-end technologies, world-class infrastructure, and awareness regarding drug therapies is helping to expand the market in this region.
Competitive Landscape
The global carotid stent market is highly competitive with the presence of global companies. Some of the key players which are contributing to the growth of the market include Abbott Laboratories, Boston Scientific Corporation, Cardinal Health, Medtronic Plc, Terumo Corporation, MicroPort Scientific Corporation, W. L. Gore & Associates, BIOTRONIK SE & Co. KG, InspireMD, and Impulse Dynamics, Shanghai Hengfei Biological Technology Co., Ltd., Beijing Bomais Technology Development, Shanghai Zhenyu Biological Technology Co., Ltd, Shanghai Haoran Biotechnology Co., Ltd. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the market globally. For instance, On May 3, 2021, Medtronic Announced the CE Mark of Evolut™ PRO+ TAVI System for the Treatment of Symptomatic Severe Aortic Stenosis Patients in Europe. In the Evolut platform design, the PRO+ valve is designed with a self-expanding nitinol frame that conforms to the native annulus with consistent radial force and advanced sealing.
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