InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the “Global Iliac Stent Market- (Type (Self-expandable Stents, Balloon-expandable Stents and Others), By Artery Lesions (Common Iliac Artery Lesions, Severe Calcified Lesion and Complete Obstructive Lesions), By End-use (Hospitals, Outpatient Facilities and Others)) Trends, Industry Competition Analysis, Revenue and Forecast To 2031.”
According to the latest research by InsightAce Analytic, the Global Iliac Stent Market is valued at US$ 1.02 Bn in 2023, and it is expected to reach US$ 1.61 Bn by 2031, with a CAGR of 6.07% during the forecast period of 2024-2031.
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An iliac stent, a small tube implant made of steel mesh, is designed to be inserted into the iliac artery, one of the main pelvic arteries that supplies blood to the lower extremities. In patients with cardiovascular issues, including atherosclerosis, the primary objective of iliac stent insertion is to relieve constriction or obstruction of the iliac artery. The rising demand for iliac stents is because of prominent factors contributing to the market’s expansion, including rising knowledge of minimally invasive procedures as a viable treatment option, an uptick in peripheral artery disorders, and improved medical technology. The market for iliac stents is expanding because new designs and materials are always being developed, which improves patient outcomes. The rising awareness among patients and healthcare providers of the benefits of iliac stenting compared to alternative therapy is another element propelling the market. However, strict regulatory regulations and there are alternative therapy alternatives for cardiovascular disorders to restrict market growth. In addition, the market is expected to be driven by several factors, including an aging population more likely to suffer from peripheral diseases, more healthcare funding, qualified medical personnel, pharmaceutical corporations looking to expand into new markets, and more patient awareness.
List of Prominent Players in the Iliac Stent Market:
• BD
• Abbott
• Boston Scientific Corporation
• W. L. Gore & Associates, Inc.
• Medtronic
• Cook
• Terumo Corporation
• iVascular
• Getinge AB
• Biotronik SE & Co KG
Market Dynamics:
Drivers-
The worldwide stent industry fuels the growing demand for the iliac stent market due to several factors, such as the rising need for less invasive surgical treatments, innovations in medical technology, and the worldwide epidemic of cardiovascular disorders, the main forces propelling the iliac stent market. Moreover, a large portion of the market share is attributable to self-expandable stents, which have demonstrated encouraging outcomes in treating external iliac artery disorders. In addition, key companies’ strategic activities, including developing and approving new products and growing awareness of peripheral artery disorders, are driving forces behind the market’s expansion.
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Challenges:
The prime challenge is the accessibility of alternative treatment, strict regulatory bodies, and difficulties during the angioplasty procedure, which is predicted to slow the growth of the iliac stent market. The availability of alternative treatment alternatives for cardiovascular disorders poses a significant obstacle to the growth of the iliac stent market. Despite the market’s promise, this could discourage patients and healthcare providers from opting for stent insertion. The possibility of unavailable products may also hinder market expansion recalls and difficulties during the stenting procedure. Also, the difficulty is the need for stents to be approved by strict regulatory bodies, which could delay the release of revolutionary new stent technologies.
Regional Trends:
The North American iliac stent market is anticipated to register a major market share in revenue. It is projected to grow at a high CAGR in the near future because of increased illness prevalence, growing public awareness, vigorous government initiatives, rapid technological development, and infrastructural upgrades in the healthcare industry-furthermore, the existence of significant businesses producing iliac stents in this region. In addition, the aging population and the rising incidence of peripheral artery disease drive the need for iliac stents in the US. Besides, Europe had a substantial market share because of a rise in vascular procedures and improvements in medical technology. Government initiatives and the growing popularity of endovascular procedures are key factors driving market development.
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.
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Segmentation of Iliac Stent Market-
Iliac Stent Market-By Type
• Self-expandable Stents
• Balloon-expandable Stents
• Others
Iliac Stent Market-By Artery Lesions
• Common Iliac Artery Lesions
• Severe Calcified Lesions
• Complete Obstructive Lesions
Iliac Stent Market-By End-Use
• Hospitals
• Outpatient Facilities
• Others
Iliac Stent Market-By Region
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa
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