The Asia Pacific Peripheral Vascular Stents Market would witness market growth of 8.4% CAGR during the forecast period (2023-2030). In the year 2021, the Asia Pacific market's volume surged to 573.3 thousand units, showcasing a growth of 7.7% (2019-2022).
The senior population's susceptibility to peripheral vascular diseases has been a major impetus for the developing and widespread adoption of peripheral vascular stents. The demand for minimally invasive PAD treatments increases as the elderly population grows. The market is anticipated to expand due to the rising prevalence of peripheral diseases, the aging population, and the introduction of innovative products. The availability of robust clinical evidence and trials demonstrating the safety and efficacy of specific peripheral vascular stents can significantly impact their adoption.
Physicians are more likely to use stents with a proven track record. The presence of multiple manufacturers and brands in the market can drive innovation and potentially lower prices, making stents more accessible and attractive to healthcare providers. Raising awareness about peripheral artery disease and the benefits of stent placement can increase adoption as patients and healthcare providers become more informed about available treatments. Growth in the adoption of these stents also occurs in emerging markets as healthcare infrastructure and access to advanced medical devices improve.
As per National Medical Products Administration, as part of its efforts to improve public health, China unveiled on December 28 a plan for developing the medical equipment industry during the 14th Five-Year Plan period (2021-2025). The country intends to accelerate the incorporation of information technology into the medical equipment sector by 2025, creating medical robots and digital health platforms by the Plan. The medical equipment sector in China has increased during the last five years, with an industry size of 840 billion yuan (about $131.81 billion) in 2020. The demand for these procedures is expected to continue growing in response to the increasing disease burden. Therefore, the rising innovation and advancements in the peripheral vascular stents, along with its increasing demand, will drive the growth of the market in this region.
The China market dominated the Asia Pacific Peripheral Vascular Stents Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $188.8 million by 2030. The Japan market is registering a CAGR of 7.7% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 9.1% during (2023 - 2030).
Based on Mode of Delivery, the market is segmented into Balloon-expandable Stents, and Self-expanding Stents. Based on End-use, the market is segmented into Hospitals & Cardiac Centers, Ambulatory Surgical Centers, and Others. Based on Product, the market is segmented into Iliac Artery Stents, Femoral Artery Stents, Carotid Artery Stents, Renal Artery Stents, and Others. Based on Stents Type, the market is segmented into Drug Eluting Stents (DES), Bare Metal Stents (BMS), and Bioabsorbable Stents. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Global Peripheral Vascular Stents Market is Predict to reach $2.7 Billion by 2030, at a CAGR of 7.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Boston Scientific Corporation, Medtronic PLC, Terumo Corporation, Abbott Laboratories, Biotronik SE & Co. KG, Stryker Corporation, Cook Medical, Inc. (Cook Group), MicroPort Scientific Corporation, LifeTech Scientific Corporation and iVascular S.L.U.
By Mode of Delivery (Volume, Thousand Units, USD Million, 2019-2030)
By End-use (Volume, Thousand Units, USD Million, 2019-2030)
By Product (Volume, Thousand Units, USD Million, 2019-2030)
By Stents Type (Volume, Thousand Units, USD Million, 2019-2030)
By Country (Volume, Thousand Units, USD Million, 2019-2030)
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