Balloon-expandable Stents Market Trends and Market Analysis forecasted for period 2024-2031
The "Balloon-expandable Stents Market" is focused on controlling cost, and improving efficiency. Moreover, the reports offer both the demand and supply aspects of the market. The Balloon-expandable Stents market is expected to grow annually by 6.4% (CAGR 2024 - 2031).
This entire report is of 194 pages.
Balloon-expandable Stents Introduction and its Market Analysis
The global Balloon-expandable Stents market research report provides insight into the market conditions surrounding this medical device. Balloon-expandable stents are used in the treatment of coronary artery disease by expanding arteries to restore blood flow. The target market includes hospitals, clinics, and ambulatory surgical centers. Major factors driving revenue growth include the increasing prevalence of cardiovascular diseases and advancements in stent technology. Key players in this market include Medtronic plc, Abbott Laboratories, and Boston Scientific Corporation. The report's main findings highlight the growing demand for minimally invasive procedures and the competitive landscape of the market. Recommendations include focusing on product innovation and strategic partnerships to maintain market share.
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The global Balloon-expandable Stents market is segmented by type into Bare-metal Stents, Drug-eluting Stents, and Bioabsorbable Stents, with applications in Hospitals, Cardiac Centers, and Ambulatory Surgical Centers. The market is driven by the increasing prevalence of cardiac disorders and the growing adoption of minimally invasive procedures. Regulatory and legal factors specific to market conditions include the need for compliance with stringent government regulations, such as FDA approvals for new product launches, and the presence of intellectual property rights related to stent technology. With rising healthcare expenditure and advancements in stent design and materials, the Balloon-expandable Stents market is set to witness significant growth in the coming years, catering to the ever-evolving demands of patients and healthcare providers alike.
Top Featured Companies Dominating the Global Balloon-expandable Stents Market
The balloon-expandable stents market is highly competitive, with key players such as Medtronic plc, Abbott Laboratories, Boston Scientific Corporation, Biosensors International Group, Ltd., BIOTRONIK SE & Co. KG, B. Braun Melsungen AG, TERUMO CORPORATION, STENTYS SA, MicroPort Scientific Corporation, Meril Life Sciences Pvt. Ltd., Vascular Concepts, and Translumina GmbH driving innovation and growth in the industry.
These companies develop and manufacture balloon-expandable stents which are devices used to treat blockages in arteries by expanding them and improving blood flow. They cater to a wide range of medical needs such as cardiovascular diseases and other conditions requiring stent placement.
Medtronic plc, Abbott Laboratories, and Boston Scientific Corporation are some of the major players in the balloon-expandable stents market, with Medtronic being one of the largest companies in the industry. In terms of sales revenue, Medtronic reported $ billion in revenue for the fiscal year 2020, while Abbott Laboratories reported $34.6 billion in revenue for the same period.
These companies use various strategies such as product innovation, partnerships, acquisitions, and geographic expansion to drive growth in the balloon-expandable stents market. By constantly improving their product offerings and expanding their reach in different regions, these companies help to grow the market and provide better treatment options for patients worldwide.
- Medtronic plc (Ireland)
- Abbott Laboratories (U.S.)
- Boston Scientific Corporation (U.S.)
- Biosensors International Group, Ltd. (Singapore)
- BIOTRONIK SE & Co. KG (Germany)
- B. Braun Melsungen AG (Germany)
- TERUMO CORPORATION (Japan)
- STENTYS SA (France)
- MicroPort Scientific Corporation (China)
- Meril Life Sciences Pvt. Ltd. (India)
- Vascular Concepts (India)
- Translumina GmbH (Germany)
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Balloon-expandable Stents Market Analysis, by Type:
- Bare-metal Stents
- Drug-eluting Stents
- Bioabsorbable Stents
Balloon-expandable stents come in various types to cater to different patient needs. Bare-metal stents are the traditional option, offering structural support to keep the artery open. Drug-eluting stents release medication to prevent restenosis, reducing the need for repeat procedures. Bioabsorbable stents gradually dissolve in the body, eliminating the need for a permanent foreign object. These diverse options cater to different patient requirements, boosting the demand for balloon-expandable stents in the market. The availability of various stent types ensures that patients can receive personalized treatment, driving growth in the balloon-expandable stents market.
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Balloon-expandable Stents Market Analysis, by Application:
- Hospitals
- Cardiac Centers
- Ambulatory Surgical Centers
Balloon-expandable stents are commonly used in hospitals, cardiac centers, and ambulatory surgical centers to treat narrowed or blocked arteries. These stents are placed in the affected artery and expanded using a balloon catheter, providing support and keeping the artery open for improved blood flow. The fastest growing application segment in terms of revenue is in cardiac centers, with an increasing number of patients requiring stent placement for coronary artery disease. This growth is driven by advancements in stent technology and an aging population with a higher prevalence of cardiovascular disease.
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Balloon-expandable Stents Industry Growth Analysis, by Geography:
North America:
- United States
- Canada
Europe:
- Germany
- France
- U.K.
- Italy
- Russia
Asia-Pacific:
- China
- Japan
- South Korea
- India
- Australia
- China Taiwan
- Indonesia
- Thailand
- Malaysia
Latin America:
- Mexico
- Brazil
- Argentina Korea
- Colombia
Middle East & Africa:
- Turkey
- Saudi
- Arabia
- UAE
- Korea
The balloon-expandable stents market is expected to witness significant growth in North America (NA), Asia-Pacific (APAC), Europe, the United States (USA), and China due to increasing prevalence of cardiovascular diseases. North America is expected to dominate the market with a market share of around 40%, followed by Europe with a market share of approximately 30%. The Asia-Pacific region, particularly China, is anticipated to exhibit the highest growth rate in the forecast period. The expected market share of balloon-expandable stents in these regions will contribute to the overall market valuation, which is projected to reach over $5 billion by 2025.
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