Venous Stents Market to Expand at a Robust CAGR of 9.95% between 2017 and 2025
Venous Stents are mesh tubes, implanted in the veins for chronic symptomatic venous diseases. The venous stents function the same way as that of the arterial stents. They expand against the narrowed or obstructed veins and keep them open. They are the flexible devices used in the peripheral as well as central veins, and act as a scaffold for the vascular walls. Emergence of various efficient technologies for the precise placement of stents in veins, and rising investment of key players in the development of flexible venous stents with high radial strength are the major factors expected to drive the market of venous stents during the forecast period. However, low awareness about the venous interventional procedures in the developing countries is likely to restrain the market growth of venous stents during 2017-2025.
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The global venous stents market has been segmented on the basis of technology, application, and disease indication. On the basis of technology, the global venous stents market is divided into iliac vein stent technology, wallstent technology, and such as stenting techniques for long deep veins such as femoral veins, popliteal veins, and veins in the arms. The iliac vein stent technology accounted for the highest market share in terms of revenue in 2016, and is likely to remain leading by 2025. The dominance of Iliac vein stent technology is attributed to the improved access to the deep veins located in the iliac portion with the help of advanced surgical tools. However, Wallstent technology is likely to witness relatively significant CAGR during the forecast period, owing to the pre-marketing approval of Wallstent Endoprosthesis in the U.S. in 2016.
Based on application, the global venous stent market is segmented into leg, chest, abdomen, and arm. The leg application segment accounted for highest revenue in 2016, owing to the emphasis of key players on the venous stents development specifically for femoral & popliteal veins. Chest application segment is estimated to witness maximum CAGR during 2017-2025, which is attributed to the green signal by regulatory authorities for the approval of venous stents for superior vena cava.
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On the basis of disease indication, the global venous stents market is divided into chronic deep vein thrombosis (DVT), Post thrombotic syndrome (PTS), May-Thurner Syndrome, Hemodialysis/Arteriovenous Fistulae, and others. Other disease indication segment is comprised of venous occlusion, re-stenosis, and nutcrackers syndrome. The others segment accounted for highest revenue in 2016, and is likely to remain dominant during the forecast period. However, chronic DVT is projected to register highest CAGR during 2017-2025, owing to the government participation in the venous disease management across the globe.
Geographically, global venous stents market is divided into five major regions, which are North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Europe dominated the global venous stents market in terms of value in 2016. The region is estimated to remain dominant during the forecast period, due to strategic presence of key venous stents manufacturers in Europe. Ongoing clinical trials of venous stents in the U.S., and rising demand for clinically efficient venous interventional devices are the major factors for the estimated growth of venous stents in North America by 2025. However, Asia Pacific is likely to grow with relatively significant CAGR during 2017-2025, due to rising investment by public & private players for the betterment of healthcare services in Asia Pacific region.
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Globally, major players operating in the development, manufacturing, and commercialization of venous stents are Boston Scientific Corporation, C. R. Bard, Inc., Jotec GmBH, Veniti, Inc., Gore Medical, Cook Medical, and Optimed Medizinische Instrumente GmBH.
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