NEW YORK, Jan. 12, 2021 /PRNewswire/ -- Growing prevalence of peripheral vascular disease across the globe is expected to increase demand for peripheral stent implants. Further, rising adoption of vascular stenting procedures is also surging demand for peripheral stents, propelling the growth of the global peripheral stent implants market. Key market players are focusing on providing cost-effective and multi-functional stents.
Increasing investments to provide customized and innovative peripheral vascular stents by key manufacturers and rising emphasis on low-cost peripheral artery stent development are other factors expected to aid market growth. The global peripheral stent implants market is expected to exhibit a healthy CAGR of nearly 7% over the forecast period (2020-2030).
Key Takeaways from Peripheral Stent Implants Market Study
- The bare metal stents (BMS) segment by product held the highest value in the global peripheral stent implants market in 2019, owing to their high adoption in several peripheral artery stenting procedures.
- North America is expected to be the most lucrative region and held a revenue share of over 48% in the global peripheral stent implants market in 2019; this trend is expected to continue through the forecast period as well.
- The U.S., followed by China, is expected to contribute the highest revenue share by country in the peripheral stent implants market.
- Higher peripheral artery disease patient pool and increasing adoption of peripheral vascular stents in Asian countries are expected to propel market growth in the region.
- The peripheral stent implants market is expected to face an adverse effect due to the COVID19 pandemic in 2020, due to shortage of manpower and supply chain disruptions.
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"Rise in peripheral vascular disease patient numbers coupled with growing adoption of peripheral stenting procedures are expected to flourish the peripheral stent implants market with growth opportunities, and provide a competitive advantage to key market players in terms of cost reduction," says a Persistence Market Research analyst.
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New Product Launch - Imperative Strategy for Market Players
Manufactures in the peripheral stent implants market are actively focusing on launching new products to hold a better position in the peripheral stent implants market. Further, developing and launching new technologically-advanced products as per patient needs is a factor responsible for strong competition among global peripheral stent implants market players. Manufacturers are now focusing on introducing advanced peripheral stents to support clinicians in simplifying their interventional procedures.
- For instance, in July 2019, CCRM Terumo Corporation launched its MISAGO Rx, a self-expanding peripheral stent for iliac artery procedures, in Japan.
What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on peripheral stent implants market in its latest study, presenting historical demand assessment of 2015 - 2019 and projections for 2020 - 2030, on the basis of product (bare metal stents, covered stents, drug eluting stents), artery type (carotid artery stents, fem-pop artery stents, iliac artery stents, and infrapop artery stents), and end user (hospitals and ambulatory surgical centers/outpatients), across seven key regions.
Browse Research Release at:https://www.persistencemarketresearch.com/market-research/peripheral-stent-implants-market.asp
Browse End-to-end Market: Healthcare
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Drug Eluting Peripheral Stents Market: https://www.persistencemarketresearch.com/market-research/drug-eluting-peripheral-stents-market.asp
Bioabsorbable Implants Market: https://www.persistencemarketresearch.com/market-research/bioabsorbable-implants-market.asp
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