carotid artery stent market

The Carotid Artery Stents Market By Product Type (Self-Expanding Stents, Balloon Expandable Stents, And Others), End-User (Hospitals & Clinics, Ambulatory Surgical Centers, And Cardiac Centers), and geography is expected to grow at a steady CAGR forecast till 2030 owing to the increasing prevalence of cardiovascular diseases such as stroke, ischemic stroke, transient ischemic attack (TIA), among others, and the rising technological advancements in stents

The global Carotid Artery Stents market was valued at USD 575.76 million in 2023, growing at a CAGR of 3.21% during the forecast period from 2024 to 2030 to reach USD 718.25 million by 2030. The demand for carotid artery stents is primarily being boosted by the increasing prevalence of cardiovascular disorders such as stroke, ischemic stroke, and Transient Ischemic Attack (TIA), among others. Additionally, the increasing demand for minimally invasive surgical procedures is another key factor influencing the positive growth of the market. Further, rising technological developments in the domain of stents is also contributing to the overall growth of the Carotid Artery Stents market during the forecast period from 2024-2030.

Carotid Artery Stents Market Dynamics:

According to Global Stroke Fact Sheet 2022, nearly 12,224,551 incident cases of stroke were reported in 2022, globally. The same source stated that over 7.6 million new ischemic strokes were reported each year, worldwide. Globally, over 62% of all incident strokes are ischemic strokes.

Additionally, the Stroke Association 2022, stated that about 100,000 people have strokes each year in the United Kingdom. The same source stated that 1.3 million stroke survivors were living in the UK in 2022.

Further, The Burden of Stroke in Europe Report 2022 stated that 88,922 new cases of stroke were reported in Germany in the year 2022.

Therefore, the rising prevalence of cardiovascular disorders such as stroke, Ischemic stroke, and Transient Ischemic Attack (TIA) will increase the demand for Carotid Artery Stents, thereby contributing to its market growth.

Another contributing factor to the rising growth of the Carotid Artery Stent market is the various technological developments in stents, including drug-eluting stents, modifications in stent designs, introduction of biodegradable and bioabsorbable materials in stent construction and the rising product launches in the domain will further, contribute to the growth of the Carotid Artery Stent market. For instance, in April 2022 Translumina Therapeutics introduced VIVO ISAR, a drug polymer-free coated stent in several international markets.

However, the risk factors associated with stents and the higher cost of surgical procedures are some of the market barriers that may restrict the growth of the Carotid Artery Stents market.

Carotid Artery Stents Market Segment Analysis:

Carotid Artery Stents Market by Product Type (Self Expanding Stents, Balloon Expandable Stents, and Others), End-User (Hospitals & Clinics, Ambulatory Surgical Centers, and Cardiac Centers), and Geography (North America, Europe, Asia-Pacific, and Rest of the World).

In the product type segment of the Carotid Artery Stents market, the Self Expanding Stents category is expected to amass a significant revenue share in the year 2023. This can be attributed to the various applications and advantages associated with the self-expanding stents such as self-expanding stents adapt to the anatomy of the carotid area. Additionally, the ability of self-expandable stents to restore their original shape even when subjected to external forces and the ability to cover very long lesions with a single stent are some of the evident advantages provided by the self-expanding carotid artery stents.

Further, after deployment, self-expanding stents can adjust to lesion shapes and vessel tortuosity and have excellent scaffolding qualities (plaque covering). Thus, the various advantages provided by self-expanding stents will contribute to the growth of the segment.

Furthermore, with the growing demand for this segment, numerous new products are getting approval from various regulatory bodies. In October 2023, Boston Scientific Corporation got approval for its Carotid WALLSTENT® Monorail® from USFDA for the treatment of carotid artery disease.

Therefore, owing to the above-mentioned factors, the Self Expanding Stents category is expected to register significant growth, thereby driving the growth of the overall Carotid Artery Stents market during the forecast period.

North America is expected to dominate the overall Carotid Artery Stents Market:

North America is estimated to account for the highest share of the Carotid Artery Stents market in the year 2023, out of all regions. This can be attributed to the rising prevalence of cardiovascular diseases and increasing risk factors for cardiovascular diseases such as obesity, hypertension, and diabetes. Additionally, the rising government initiatives, high disposable income, increasing aging population, and presence of sophisticated healthcare infrastructure in the region are among other factors influencing the growth of the Carotid Artery Stents market in North America.

According to the Centers for Disease Control and Prevention (CDC) 2022, around 18.2 million people aged 20 or above have coronary artery disease in the US. Additionally, as per the above-mentioned source in the US, around 805,000 people face heart attacks every year with 605,000 people facing it for the first time and about 200,000 having experienced at least one incident of heart attack before.

Further, as per the US Census Bureau 2021 report, more than 54 million adults aged 65 and older lived in the United States, in 2021. Further by 2050, the total number of adults aged 65 and older is projected to rise to an estimated 85.7 million roughly 20% of the overall US population. The elderly population especially people above 50 years are more prone to carotid artery disease as arteries become less flexible and more likely to be injured with age.

Thus, the increasing prevalence of various cardiovascular diseases in the United States will boost the market for carotid artery stents in the United States, which will further help in propelling the carotid artery stents market in North America.

Another contributing factor to the growth of the Carotid Artery Stent Market is the presence of key players in the region. Several key players in the domain such as Boston Scientific Corporation, Cordis, and Silk Road Medical Inc. are headquartered in North America, thus contributing to the growth of the Carotid Artery Stent market in the region.

Therefore, the factors mentioned above, and the presence of key players in the region are some of the important factors which are thereby responsible for driving the market in North America during the forecast period.

Carotid Artery Stents Market Key Players:

Some of the key market players operating in the Carotid Artery Stents market include Boston Scientific Corporation, Cordis, Balton, Medtronic, Terumo Europe NV, Silk Road Medical Inc., InspireMD Inc., and others.

Recent Developmental Activities in the Carotid Artery Stents Market:

• In October 2023, In October 2023, Boston Scientific Corporation, got approval for its Carotid WALLSTENT® Monorail® from USFDA for the treatment of carotid artery disease.
• In October 2022, Cordis a leader in the development and manufacturing of interventional cardiovascular and endovascular technologies, acquired MedAlliance.

Key Takeaways from the Carotid Artery Stents Market Report Study

• Market size analysis for current Carotid Artery Stents market size (2023), and market forecast for 6 years (2024-2030)
• Top key product/and technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years
• Key companies dominating the global Carotid Artery Stents market
• Various opportunities available for the other competitors in the Carotid Artery Stents market space.
• What are the top-performing segments in 2023? How these segments will perform in 2030?
• Which are the top-performing regions and countries in the current Carotid Artery Stents market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for Carotid Artery Stents market growth in the coming future?

Target Audience who can be benefited from this Carotid Artery Stents Market Report Study

• Carotid Artery Stents product providers
• Research organizations and consulting companies
• Carotid Artery Stents-related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders dealing in Carotid Artery Stents
• Various End-users who want to know more about the Carotid Artery Stents market and the latest technological developments in the Carotid Artery Stents market

Frequently Asked Questions for the Carotid Artery Stents Market:

1. What is meant by Carotid Artery Stents?

Carotid Artery Stents are small, flexible devices, which are used to open constricted carotid arteries. The procedure for opening an artery is known as Carotid Artery Stenting.

2. What is the market for global Carotid Artery Stents?

The global Carotid Artery Stents market was valued at USD 575.76 million in 2023, growing at a CAGR of 3.21% during the forecast period from 2024 to 2030 to reach USD 718.25 million by 2030.

3. What are the drivers for the global Carotid Artery Stents market?

The Carotid Artery Stents market is slated to witness prosperity owing to factors such as the increasing prevalence of cardiovascular diseases such as stroke, ischemic stroke, and transient ischemic stroke (TIA). Additionally, surging demand of minimally invasive surgical procedures and rising technological advancements in stents are expected to result in appreciable revenue growth in the Carotid Artery Stents market during the forecast period (2024-2030).

4. Who are the key players operating in the global Carotid Artery Stents market?

Some of the key market players operating in the Carotid Artery Stents market include Boston Scientific Corporation, Cordis, Balton, Medtronic, Terumo Europe NV, Silk Road Medical Inc., InspireMD Inc., and others.

5. Which region has the highest share in the global Carotid Artery Stents market?

North America is expected to dominate the overall Carotid Artery Stents Market during the forecast period, 2024 to 2030. Due to the presence of a large patient pool suffering from with cardiovascular diseases, increasing risk factors for CVDs such as obesity, hypertension, and diabetes. Further, rising government initiatives, high disposable income, and sophisticated healthcare infrastructure are some of the factors that are expected to accelerate the market for Carotid Artery Stents in the region.