Advances in stenting technologies for chronic venous diseases are key driving force for new avenues in the venous stents market. Patient populations have benefitted from the advent of venous stents with the requisite flexibility, radial strength, and an accurate deployment in complex anatomies such as deep veins located in the iliac portion.
Demand for Dedicated Venous Stents for Leg and Chest Applications Keeps Market Lucrative
Analysts at Transparency Market Research (TMR) project the global venous stents market to expand at CAGR of 9.9% during 2017 – 2025. The venous stents market is driven by the growing indication of interventional devices in deep vein thrombosis, blood clots, chronic venous insufficiency, and ulcers. The demand for dedicated venous stents for leg and chest applications has kept the market increasingly lucrative. Of the various technologies, iliac vein stent held the dominant share in 2016 and is expected to retain its lead throughout the assessment period of 2017 – 2025.
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Europe Leading Global Market
Geographically, Europe held the leading share in 2016 in the global venous stents market and is expected to retain its status quo until 2025. One of the key factors underpinning the prominence of the regional market. Numerous venous stents manufacturers have been increasingly their penetration in the region and have been able to tap into some substantial opportunities. In the coming years, the regional market will continue to see remarkable strides in venous stent technology.
Asia Pacific Increasingly Lucrative
The U.S. is also a markedly promising market, with the growth fueled by several ongoing investigational device exemption studies. This will help meet the rise in clinical demand for clinically efficient venous interventional devices in North America. Growing number of clinical trials will help cement the revenue potential of this region in the overall venous tents market.
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However, Asia Pacific has been identified an emerging market with substantially higher growth potential and is expected to rise at relatively high CAGR during 2017 – 2025. A great deal of the growth impetus comes from the advances made in stenting procedures in hospitals settings and the overall progress made in healthcare services.
Top players are trying to elevate the barrier entry and retain their stronghold by engaging in strategic moves that facilitate the development, commercialization, and post-commercialization marketing of various stenting technologies.
Some of the prominent players in the venous stents market are Optimed Medizinische Instrumente GmBH, Cook Medical Incorporated, Gore Medical, Veniti, Inc., Jotec GmBH, C. R. Bard, Inc., and Boston Scientific Corporation.
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Rise in Elderly Populations With chronic Venous Disease Drives Market
Rise in elderly population who suffer from chronic venous disease is a key trend in strengthening the revenues in the venous stents market. Some of the key indication segments are re-stenosis, nutcrackers syndrome, and occlusion. The sales in the venous stents market have been bolstered by the demand for flexible stenting technologies in chronic deep vein thrombosis (DVT). The segment has contributed a high revenue share.
The market has also benefited from considerable advances made in techniques for the placement of venous stents. However, patients in the developing countries are still unaware of availability of various venous interventional procedures. This has constrained the growth potential of the overall venous stents market. Nevertheless, as more and more patients will seek treatment for chronic venous disease, new growth avenues will open up in near future.
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