Iliac Stent Market Size was valued at USD 1.02 Bn in 2023 and is predicted to reach USD 1.61 Bn by 2031 at a 6.07% CAGR during the forecast period for 2024-2031.
The iliac artery is one of the main pelvic arteries that supplies blood to the lower limbs. An iliac stent, a small tube device made of steel mesh, is designed to be implanted into this artery. Factors responsible for propelling the market for iliac stent diseases including technological developments in stents, an increase in angioplasty operations, a rise in the need for less intrusive operations, and the aging of the population. In addition, there are anticipated growth prospects for market players in the coming years due to the development of iliac stent materials and expansion into emerging markets. In addition, the market’s growth is anticipated to be hindered during the forecast period by the presence of alternative treatment techniques for cardiac illnesses, strict rules for product approval, and many product failures and recalls. Rising demand is further supported by the expanding recognition of iliac stenting’s advantages over other therapies, both among patients and healthcare providers. This will also drive the market growth in the coming years.
However, the market growth is hindered by obstacles such as problems occurring during the stenting process, the possibility of product failure, and the strict regulatory standards for the clearance of medical equipment. Global markets expanded during the coming years due to technological developments, and iliac stents are in high demand, increasing the prevalence of peripheral arterial disorders.
Competitive Landscape
Some of the Major Key Players in the Iliac Stent Market are
- Abbott Laboratories
- Alvimedica
- B. Braun SE
- Becton, Dickinson and Company
- Biotronik SE & Co KG
- Boston Scientific Corporation
- Cook Medical
- Getinge AB
- iVascular
- Medtronic Plc
- Terumo Corporation
- W. L. Gore & Associates, Inc.
Market Segmentation:
The iliac stent market is segmented based on type, artery lesions, and end-use. Based on type, the market is segmented into self-expandable stents, balloon-expandable stents, and others. By artery lesions, the market is segmented into common iliac artery lesions, severe calcified lesions, and complete obstructive lesions. By end-use, the market is segmented into hospitals, outpatient facilities, and others.
Based on the Type, The Self-Expandable Stents Segment is Accounted as a Major Contributor to the Iliac Stent Market
The self-expandable stents iliac stent market is expected to hold a significant global market share in 2022 because a self-expandable stent can widen and retain open the constricted or obstructed iliac arteries, allowing blood to flow freely to the lower extremities again. Leg pain, cramps, and numbness, signs of iliac artery occlusive disease, will go away with this. Additionally, the long-term patency of the treated artery can be better maintained using self-expandable iliac stents because they are made from robust materials. Positive results from long-term clinical studies are also likely to boost healthcare practitioners’ confidence.
Common Iliac Artery Lesions Segment to Witness Growth at a Rapid Rate
The common iliac artery lesions segment is projected to grow rapidly in the global iliac stent market because a common iliac artery lesion is an abnormality or condition affecting the arteries that branch off the aorta and provide blood to the lower extremities and pelvis. The iliac arteries can develop various diseases, including atherosclerosis, stenosis, aneurysms, dissection, etc. Because obesity and high cholesterol both lead to plaque development, which restricts or clogs the artery lumen, the rising number of patients with these disorders is likely to increase the demand for iliac stents in this segment.
In the Region, The North American Iliac Stent Market Holds a Significant Revenue Share
The North American iliac stent market is anticipated to register the highest market share in revenue in the near future. This can be attributed to drivers driving market expansion, including rising disease awareness, increased research and development for novel medicines, and the prevalence of arterial diseases. In addition, Asia Pacific is projected to fastest growing region in the markets because several factors are propelling the iliac stents market in this area, including the rising prevalence of cardiovascular disease in developing nations like China and India and the aging population in industrialized nations. Furthermore, the rising need for less intrusive treatments, the improvement of healthcare facilities, the expansion of insurance policies, and the growing public knowledge of peripheral artery disease all contribute to this industry's growth.
Recent Developments:
- In January 2024, Abbott announced the launch of NavitorTM, their next-generation transcatheter aortic valve implantation (TAVI) system. This minimally invasive technology will now be accessible to patients in India who suffer from severe aortic stenosis and are deemed to be at high or extreme risk for surgery. The Navitor TAVI system is the newest offering from the company’s extensive structural heart transcatheter portfolio, providing patients and doctors with less invasive alternatives for treating heart disorders.
- In February 2024, BD and the world’s foremost manufacturer of laboratory automation technology, Hamilton, announced a partnership to create robotics-compatible reagent kits and automated applications that allow larger-scale single-cell multi-omics experiments to be conducted with more precision and less room for human error.
Iliac Stent Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 1.02 Bn |
|
Revenue Forecast In 2031 |
USD 1.61 Bn |
|
Growth Rate CAGR |
CAGR of 6.07% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Type, By Artery Lesions, By End-user and By Region |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
|
Competitive Landscape |
BD, Abbott, Boston Scientific Corporation, W. L. Gore & Associates, Inc., Medtronic, Cook, Terumo Corporation, iVascular, Getinge AB and Biotronik SE & Co KG |
|
Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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