The carotid artery stents market size is estimated to be USD 579.12 million in 2022 and is expected to witness a CAGR of 3.57% during the forecast period 2023-2033. Rising geriatric population, technological advancements in stents, such as drug-eluting stents are factors contributing to the market growth. Additionally, rising rates of cardiovascular diseases (CVDs), complex lesions, obesity, diabetes, and other disorders and increasing demand for minimally invasive procedure are other factors supporting the market growth. However, strict approval processes is expected to hinder the growth.

Technological advancements in stents, such as drug-eluting stents is expected to fuel the market growth during the forecast period. The use of biodegradable and bioabsorbable materials in stent construction, advances in stent design, including bifurcated stents, and technological advancements in stents, such as drug-eluting stents, are all contributing to the market’s expansion. The launch of new products and the advancement of stent technology by leading market players are also projected to fuel market expansion. For instance, Transluminal launched VIVO ISAR, new dual drug polymer free coated stent (DDCS), in a variety of global regions, including Europe, in April 2022.

Rising geriatric population is predicted to propel the market growth during the projected period. The geriatric population (those 65 years of age or older) are more prone to developing chronic diseases including CVDs, which require for surgical intervention treatments. CVDs can lead to the build-up of plaque in the arteries. The UN predicts that the proportion of persons worldwide who are 65 or older will rise from 10% in 2022 to 16% in 2050.

Segmentation

By Type

The market is categorized into bioabsorbable stents, drug eluting stents, bare metal stents. In the global market, the drug eluting stents segment accounted for the largest revenue share in 2022 owing to the its severely reduced risk of target vessel revascularization. Bioabsorbable stents are anticipated to see the quickest CAGR throughout the projection period due to its speedy installation and accessibility to patients of all ages, particularly youngsters. To fight the issue of in-stent restenosis, biodegradable stents are being developed as an alternative to permanent stents.

By Material

The market is divided into polymers and metals. In 2022, the metals segment accounted for the highest revenue share due to its advantages, which include a lower stent breakage rate, flexibility, and biocompatibility. Another factor driving the segment’s growth is the coupling of metal stents with biodegradable polymer to address the shortcomings of traditional stents. The polymer segment is predicted to increase at a CAGR over the forecast period due to its extensive application in cardiology, notably in carotid vascular intervention as coating matrices for drug-eluting stents and stent platforms.

By Mode of Delivery

The market is segregated into self-expanding stents, balloon-expandable stents. In the global market, the balloon-expandable stents segment accounted for the largest revenue share in 2022 owing to rising popularity of minimally invasive procedures. The self-expanding stents segment is expected to expand at the fastest CAGR over the projected period. Self-expandable stents are more flexible, conform to the vascular wall, and are easier to place than balloon-expandable stents. They also offer smaller delivery systems. As a result, self-expandable stents can be positioned over the wire without slipping, even in difficult artery stenoses.

By End Use

The market is segmented into ambulatory surgical centres, hospitals, others. In 2022, the hospitals segment accounted for the largest revenue share owing to expanding patient pool, rise in CAS in hospitals, better healthcare infrastructure, and favourable reimbursement scenarios in both developed and developing nations. The ambulatory surgical centres are expected to grow at the fastest CAGR over the projection period. Ambulatory surgical centres have reduced overhead, fixed expenses, and shorter hospital stays than hospitals, and they also charge between 45% and 60% less.

Regional Markets

In 2022, North America region accounted for the highest revenue in the carotid artery stents market and is expected to maintain its dominance during the forecast period. This is attributed to the existence of an established healthcare infrastructure, rapid technological advancements, growing incidences of CVD, and the increasing demand for MI operations. The CDC states that CAD, which takes more than 370,000 lives annually, is the most common cardiac disease and the main cause of mortality in the United States. Asia Pacific is anticipated to experience the fastest growth rate during the projection period. Enhanced CAD screening, economic growth, regulatory consequences, and notably advantageous reimbursement in some countries, such as Australia and South Korea, are some of the drivers driving the market. Additionally, this industry is being impacted by rising government spending on healthcare and new initiatives to wider variety of products in low-cost countries like China and India.

Competitor Insights

Some of the key players operating in the carotid artery stents market are Cordis, InspireMD, Inc., Medtronic, Balton Sp z o.o., MicroPort Scientific Corporation, Terumo Europe NV, Boston Scientific Corporation, Silk Road Medical, Inc., Abbott Laboratories, Inc, and Impulse Dynamics.

To achieve a competitive edge, these companies are implementing a variety of growth strategies. Strategic partnerships, alliances, and agreements with different businesses and research institutions are seen to be the main strategies used by companies in this sector.

• For instance, Cordis announced in October 2022 that it had acquired MedAlliance, a Swiss manufacturer of cutting-edge drug-eluting balloons. The drug-eluting balloon SELUTION SLR (Sustained Limus Release), which has the potential to treat two million patients globally by 2027, will be made available to Cordis through this acquisition.

This comprehensive research report focuses on the global and regional market size and forecasts of diverse segments including type, material, mode of delivery, end use from 2023 to 2033.

Report Scope:

Segmentation: Carotid Artery Stents Market Report 2022 – 2033

Type (Revenue, USD Million), 2022 – 2033

• Bioabsorbable Stents
• Drug Eluting Stents
• Bare Metal Stents

Material (Revenue, USD Million), 2022 – 2033

• Polymers
• Metals
  • Nitinol
  • Stainless Steel
  • Cobalt Chromium
  • Others

Mode of Delivery (Revenue, USD Million), 2022 – 2033

• Self-expanding Stents
• Balloon-expandable Stents

End Use (Revenue, USD Million), 2022 – 2033

• Ambulatory Surgical Centres
• Hospitals
• Others

By Region (Revenue, USD Million), 2022 – 2033

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of LATAM
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • Rest of MEA