Peripheral Stent Implants
Market
The global peripheral stent implants market is set to experience robust growth, with revenue
projected to reach approximately US$7.1 billion by 2031, up from an estimated US$3.9 billion in
2024. This expansion is driven by an anticipated compound annual growth rate (CAGR) of 8.90%
from 2024 to 2031.
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Market Insights
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Growth Drivers:
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Increasing Incidence of Peripheral Artery Disease (PAD): The prevalence of
PAD, particularly among the aging population, is a significant driver of market
growth. With over 230 million people worldwide affected by PAD, the demand
for peripheral stent implants is on the rise.
o
Technological Advancements: Innovations such as drug-eluting and
bioresorbable stents are enhancing treatment options and patient outcomes.
These advancements improve stent efficacy and safety, leading to broader
adoption.
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Rising Demand for Minimally Invasive Procedures: Minimally invasive
procedures are gaining popularity due to their benefits, including reduced
recovery times and fewer complications. Peripheral stent implants, which can
be inserted using minimally invasive techniques, are increasingly preferred over
traditional open surgeries.
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Market Trends:
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Adoption of Bio-Absorbable Stents: There is a growing trend towards using bioabsorbable stents, which gradually dissolve over time, offering a promising
alternative to traditional metal stents.
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Regional Growth: Significant market potential is emerging in developing
countries, particularly India and China, driven by increasing healthcare
investments and rising healthcare needs.
Challenges:
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Regulatory Hurdles: The lengthy and complex regulatory approval process can
delay the market entry of new products. Regulatory bodies such as the FDA
require extensive clinical trials, which can be costly and time-consuming.
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Impact of COVID-19: The COVID-19 pandemic has disrupted healthcare
services, leading to a decrease in non-COVID-related procedures, including
those for PAD. The prioritization of pandemic-related devices has affected the
peripheral stent implants market.
Historical and Projected Growth
Historically, the peripheral stent implants market grew at a CAGR of 5.6% from 2015 to 2022.
The market is projected to reach a valuation of US$3.9 billion in 2024, driven by a CAGR of
7.60% during this period. The growth is supported by advancements in treatment technologies
and increased life expectancy among the elderly population.
Key Growth Determinants
1. Prevalence of PAD: The rise in PAD prevalence and the aging population are driving the
demand for peripheral stents. As conditions like diabetes and obesity increase, so does
the incidence of PAD.
2. Technological Innovations: Enhanced stent designs, such as drug-eluting and
bioresorbable stents, are contributing to better patient outcomes and driving market
growth.
3. Demand for Minimally Invasive Options: The preference for minimally invasive
procedures continues to rise, boosting the demand for peripheral stent implants.
Growth Barriers
1. Regulatory Challenges: The complex and costly regulatory approval processes can
delay new product introductions and hinder market growth.
2. Pandemic Impact: The COVID-19 pandemic has shifted focus away from
cardiovascular procedures, affecting market dynamics and growth.