Venous Stents Market
According to World health organization, the population aged 60 years and older is expected to reach 2 billion by 2050, up from 900 million in 2015. In the present scenario, 125 million people are aged 80 years or older. A shift in the distribution of country’s population towards older population (population ageing) started in developed and high income countries, but now, it is the developing countries that are going through the greatest change. The pace of population ageing across the globe is also rising vividly. The data also predicts about 80% of all older people will live in low and middle-income countries. Older age is also characterized by the emergence of several complex health states which are likely to occur only in the later stages of life and these do not fall into specific disease categories. These complexities are often termed as geriatric syndromes. For instance, the occurrence for pulmonary embolism (PE) increases with old age. Thus, the growing geriatric population surges the application of venous stents favouring the market growth. As per the report published by Fior Market Research, the global venous stents market is expected to grow from USD 866.07 million in 2018 to USD 1,782.61 million by 2026 at a CAGR of 9.44% from 2019 to 2026.
The global venous stents market is categorized on the basis of technology, disease indication, application, and regions. Technology segment is categorized into Iliac Vein Stent Technology, Wallstent Technology and Other Technologies. Disease indication segment is segmented into Chronic Deep Vein Thrombosis (DVT), Post Thrombotic Syndrome (PTS), May-Thurner Syndrome, Hemodialysis/Arteriovenous Fistulae and others. Applications segment covers Legs, Chest, Abdomen and Arm. The regions analysed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. These regions are further analyzed at the country-level.
Advancement related to field of stent technology enhanced the market development for venous stents. The defects and technical shortcomings in performing venous stenting procedures have led to a revolution of the newer nitinol stents. In the past few years, several industry leaders have slowly made progression towards new innovations catering to venous 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. Hence, these ongoing initiations by the major industry players may lead to a favourable growth of the market.
The rise in incidents of iliofemoral venous obstructive disease in developed countries is also going to stimulate the market growth and development. In patients with venous obstructions, blood may pool in the legs, resulting in pain, swelling and skin ulcers. The iliofemoral veins are located deep in the pelvis and may be subject to significant crushing forces from other anatomical structures such as the right common iliac artery. Iliofemoral venous obstructive disease occurs when the flow of blood through the veins located deep in the pelvic region becomes blocked by a blood clot or compressed by anatomical anomalies. The venous obstructive disease affects nearly 40% of the U.S. older population and can be caused by conditions such as post-thrombotic syndrome (PTS), deep vein thrombosis (DVT), and compressive diseases such as May-Thurner syndrome. To solve this issue, the VICI stent system was specifically designed to be uniformly strong and crush resistant, capable of restoring blood flow by creating a cylindrical, patent vessel.