Is North America Leading in Peripheral Stent Implants Use?

The global peripheral stent implants market is experiencing robust growth and is projected to reach a valuation of US$7.1 billion by 2031, up from an estimated US$3.9 billion in 2024. This represents a significant compound annual growth rate (CAGR) of 8.90% over the forecast period.

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Market Insights:

1. Growth Drivers:

o Increasing PAD Prevalence: Peripheral Artery Disease (PAD) is becoming more common, driving the demand for peripheral stent implants. With over 230 million people affected globally and an aging population, there is a rising need for effective treatment options.

o Technological Advancements: Innovations in stent technology, such as drug-eluting stents and bioresorbable stents, are enhancing treatment outcomes and driving market growth.

o Demand for Minimally Invasive Procedures: The preference for less invasive procedures is fueling the adoption of peripheral stent implants, which offer benefits such as quicker recovery times and reduced complications.

2. Market Trends:

o Bio-Absorbable Stents: Increasing adoption of bioabsorbable stents is shaping market dynamics, as these stents dissolve over time and reduce long-term complications.

o Regional Growth: The market is seeing expanding potential in emerging economies like India and China, alongside established markets in North America and Europe.

o Product Segmentation: Bare metal stents currently dominate due to their non-invasive nature, while iliac artery stents lead due to the prevalence of atherosclerosis.

3. Challenges:

o Regulatory Hurdles: The lengthy and complex regulatory approval processes can delay market entry for new products and increase costs, particularly for smaller companies.

o COVID-19 Impact: The pandemic has disrupted routine healthcare services, impacting the volume of elective procedures including those for PAD.

Historical and Projected Market Performance:

• Historic CAGR (2015-2022): The market has grown at a CAGR of 5.6%.

• 2024 Market Value: Expected to reach US$3.9 billion, with a CAGR of 7.60%.

• Future Outlook: The market is projected to grow at a CAGR of 8.90% from 2024 to 2031, reaching US$7.1 billion.

Key Growth Determinants:

1. Increasing PAD Prevalence: The rise in PAD cases, driven by aging populations and lifestyle factors like diabetes and obesity, is expected to increase demand for peripheral stent implants.

2. Technological Innovations: Advances in stent technology, including drug-eluting and bioresorbable stents, are expected to enhance treatment efficacy and market growth.

3. Minimally Invasive Procedures: The shift towards minimally invasive techniques is expected to further boost market revenue as more healthcare facilities adopt these methods.

Key Growth Barriers:

1. Regulatory Challenges: Extensive clinical trials and regulatory requirements can delay product approvals and increase costs, posing a barrier to market entry.

2. COVID-19 Disruptions: The pandemic has shifted focus and resources away from cardiovascular procedures, impacting the peripheral stent implants market.

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