The global venous stents market by technology was led by iliac vein stent technology segment. In 2017, the ablation devices segment held a largest market share of 73.9% of the venous stents market, by technology. However, the wallstent technology segment is expected to witness significant growth rate during the forecast period, owing to the advantages of the technology combined with lower risk of complications.
Europe is the largest geographic market and it is expected to be the largest revenue generator during the forecast period. Europe market is driven by the factors such as, rise in the prevalence of the chronic veins disease and the initiation for the clinical trials for the venous stents in the region.
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The major players operating in the venous stents market 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).
The market for venous stents market is expected to grow due to the rising prevalence of venous diseases, technological advancement in stent technology and rising global geriatric population. The market is likely to get impacted due to the restraining factors such as stringent regulations for approval and high cost of surgical procedures. The market players have an opportunity to grow in the emerging nations whereas the trend in the development of advanced venous stents are likely to boost the market in the coming future.
Technological Advancements in Stent Technology
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. broadcasted an 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.
Rising Global Geriatric Population
Incidence rates for deep venous thrombosis (DVT) and pulmonary embolism (PE) increases with increasing age in both men and women. Globally the geriatric population is increasing, every country is experiencing the rise in older population. According to the United Nations data from World Population Prospects 2017, 962 million people are aged 60 or over in the world and is expected to reach 2.1 billion by 2050 and 3.1 billion by 2100. It also mentioned that Europe is having the largest share of old aged population about 25%. Thus, the growing geriatric population, increases the applications of venous stents and eventually favors market growth.
The report segments the global venous stents market as follows:
Global Venous Stents Market – By Technology
Wallstent Technology,
Iliac Vein Stent Technology
Global Venous Stents Market – By Application
Legs
Chest
Abdomen
Global Venous Stents Market – By Disease
Post Thrombotic Syndrome,
Chronic Deep Vein Thrombosis,
May-Thurner Syndrome,
Hemodialysis/Arteriovenous Fistulae, and
Others
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