According to a new market research study titled ‘Venous Stents Market to 2025 – Global Analysis and Forecasts by technology, application and end user. The global venous stents market is estimated to account for US$ 1,727.4 Mn by 2025 as compared to US$ 829.0Mn in 2017, growing at a CAGR of 9.7% during the forecast period from 2018 to 2025.
The venous stents are mesh tubes made up metal that expands against the blocked veins or the narrowed veins. These stents play role of a scaffold that assist in keeping the walls of veins open. The venous stents are generally placed in the central veins which are found in legs, chest and abdomen. The venous stents are used to treat conditions such as chronic deep vein thrombosis (DVT), post thrombotic syndrome and more. The growth of the Venous stents in healthcare market is attributed to the rising venous diseases, technological advancements in stent technology and rising geriatric populations are key drivers for the growth of the market. However, the growth of the market is restrained by various factors such as stringent regulations for approval and high cost of surgical procedures.
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The advancement in the field of stent technology has equally enhanced the market for venous stents. Many industry players have come up with innovative types of venous stents in last few years. The defects and technical shortcomings for performing venous stenting procedures have led to a revolution of the newer nitinol stents. For instance, in January 2018, Medtronic plc announced the initiation of its investigational device exemption (IDE) study for the Abre, its venous self-expanding stent system. The new abre stent is developed for permanent implant in the iliofemoral vein. Upon placement of the Abre stent, the stent offers optimized balance of strength and flexibility to exert an outward force and open the vein. Similarly, in November 2016, Cook Medical announced the initiation of VIVO clinical study that assesses the safety and effectiveness of the Zilver Vena venous stent that is used for the treatment of symptomatic iliofemoral venous outflow obstruction. Thus, many companies are growing their venous product portfolio to offer a comprehensive portfolio for the treatment of venous diseases.
In addition, the growing geriatric population is likely to raise the market for the venous stents in the forecast period. Incidence rates for deep venous thrombosis (DVT) and pulmonary embolism (PE) increases with increasing age in both men and women. This is due to age related alterations in thrombotic factors and laxity in large venous valves. According to the NHS foundation, 90-95% of deep venous thrombosis or pulmonary embolism cases are in people aged over 40 years. Furthermore, chronic diseases like cancer, surgeries or immobilization, transvenous pacemaker, central venous catheters, infection, kidney disease, thrombophilia, and leg paresis from neurological disease are more prevalent in aged population and all these diseases are independent predictors of venous thromboembolism events. Thus, the growing geriatric population, increases the applications of venous stents and eventually favors market growth.
The top industry players operating in the market of venous stents across the globe includes Boston Scientific Corporation, C. R Bard (acquired by BD), Jotech GMBH (acquired by Cryolife, Inc.), Cook, W.L Gore & Associates, Optimed Medizinische Instrumente GMBH, Medtronic, Medica Germany GMBH & Co. KG, and Cordis (acquired by Cardinal Health).