The global peripheral stent implants market is poised for substantial growth, with projections indicating a market size of approximately US$7.1 billion by 2031, up from an estimated US$3.9 billion in 2024. This represents a strong compound annual growth rate (CAGR) of 8.90% from 2024 to 2031.
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Key Drivers of Growth
- Rising Prevalence of Peripheral Artery Disease (PAD):
- PAD is increasingly common, particularly among the aging population and those with diabetes or obesity. This growing patient base is expected to drive demand for peripheral stent implants to manage blocked or narrowed arteries and improve blood flow to extremities.
- Technological Advancements:
- Innovations in stent design and materials, including drug-eluting stents and bioresorbable stents, have significantly enhanced the safety and efficacy of treatments. These advancements have reduced revascularization rates and improved patient outcomes.
- Growing Demand for Minimally Invasive Procedures:
- There is a strong preference for minimally invasive procedures due to their benefits, including shorter hospital stays, quicker recovery, and lower complication risks. Peripheral stent implants, which can be placed via minimally invasive techniques, align with this trend.
Market Trends
- Bio-Absorbable Stents: The adoption of bio-absorbable stents is increasing, providing a promising alternative to traditional metallic stents.
- Regional Growth: Emerging markets in India and China are seeing growing potential. North America, led by the US, remains the dominant market, while Germany plays a key role in Europe.
Market Challenges
- Regulatory Approval: The complex and lengthy regulatory approval process poses a challenge, potentially delaying new product introductions and increasing costs.
- Impact of COVID-19: The pandemic has disrupted healthcare services, with a shift in focus towards COVID-19-related treatments affecting the volume of elective cardiovascular procedures.
Historical Performance and Future Outlook
The market experienced a historic CAGR of 5.6% from 2015 to 2022. By 2024, the market is projected to reach US$3.9 billion, reflecting a CAGR of 7.60%. The increasing prevalence of PAD, advancements in treatment options such as balloon angioplasty and drug-eluting technologies, and the expanding geriatric population are driving factors.
Future Growth Opportunities
- Innovation in Stent Technology: Continued development of innovative stents and peripheral local drug delivery systems can enhance treatment efficacy and market growth.
- Cost-Effective Treatments: The increasing popularity of cost-effective endovascular treatments and outpatient reimbursement policies in developing countries further fuel market expansion.
