Carotid Stenting Systems Market to Witness Widespread Expansion During 2018 to 2028
Carotid stenting system is a non-surgical, percutaneous procedure, generally indicated for improving the lumen diameter of carotid arteries patients considered at high risk for strokes or transient ischemic attacks (TIAs). As the procedure of carotid stenting systems is less invasive and better tolerated, they are considered to safe and effective alternative to surgical procedures for the treatment of carotid occlusive disease in patients who are at high surgical risk or inoperable. These factors are likely to augment the development of carotid stenting systems market.
In the recent years, there has been increase in the number of patients with cardiovascular disease such as coronary artery disease and atherosclerosis, primarily due to aging, pollution, smoking, changing lifestyle habits, and others. This has led to surge in the demand for carotid stenting systems and complementing the expansion of its market across the globe. Prevention and treatment methods of carotid occlusive disease are also being in low- and medium-economies which is expected to fuel growth of carotid stenting systems market. These systems lower the risk that usually prevails in conventional surgical treatment. Further, adoption of technological advancement and new innovations to improve the treatment will possibly shape the future of carotid stenting systems market.
Carotid artery stenting (CAS) is an endovascular procedure to treat narrowing of the carotid artery, which reduces the risk of transient ischemic attacks (TIAs) or strokes. It involves the placement of a stent in the carotid artery to treat narrowing of the carotid artery and decreases the risk of stroke. A stent is a metal or plastic tube inserted into the lumen of the carotid artery to avoid its narrowing and thereby keeping the passageway open for blood flow. Carotid stenting is the preferred therapy for patients, who do not want to undergo carotid surgery.
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Carotid Stenting Systems Market: Drivers and Restraints
The increasing graph of cardiac diseases such as atherosclerosis, coronary artery diseases driven by growing risk factors such as high consumption of cholesterol rich foods, sedentary lifestyles, substance abuse, diabetes, obesity and high blood pressure is the key driver for the growth of the global carotid stenting systems market. According to the Centers for Disease Control and Prevention, coronary artery disease (CAD) is the most common heart disease in the U.S. and is the leading cause of deaths, claiming over 370,000 lives annually.
Technological advancement in stents such as drug eluting stents, use of biodegradable, and bio-absorbable materials for stent construction, improvements in stent design such as bifurcated stents and others are driving the growth of the global carotid stenting systems market owing to greater efficiency and efficacy. Improvements in implantation techniques and development of complementary technologies such as real-time diagnostic imaging such as computed tomography, magnetic resonance imaging and others have resulted in greater confidence and concurrent number of stenting procedures performed. Another advancement is the development of stent coatings to combat stent-based trauma, and restenosis.
The restraining factors of the global carotid stenting systems market are high cost of the procedure, risk of infection and stent failure, thrombosis, restenosis or the re-narrowing of the arteries, and lack of of trained manpower and specialty hospitals. The global carotid stenting systems market also faces competition from balloon angioplasty, coronary angioplasty, and carotid endarterectomy.
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Carotid Stenting Systems Market: Segmentation
The global carotid stenting systems market is segmented based on components, route of administration, animal models, clinical indications, study design, and region.
Based on material of construction, the global carotid stenting systems market is divided into the following:
- Bare Metal Stents
- Stainless Steel
- Nickel titanium
- Cobalt Chromium
- Poly- lactide/glycolide acid
Based on configuration, the global carotid stenting systems market is divided into the following:
- Open Cell
- Closed Cell
Based on specialty, the global carotid stenting systems market is divided into the following:
- Bio Absorbable and Biodegradable Stent
- Drug Eluting Stent
- Radioactive stents
Carotid Stenting Systems Market: Overview
The global market for carotid stenting systems is consolidated with a few large players dominating the scene. The market trends include a definite shift in favor of developing regions of Asia Pacific, such as India and China. There is also a strong trend of collaboration between large hospitals and third party payers owing to growing adoption of healthcare insurance.
Carotid Stenting Systems Market: Regional Outlook
The global carotid stenting systems market is classified into regions viz. North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan, Middle East and Africa. North America is expected to account a large share in the global carotid stenting systems market owing to concentration of key market players, consolidation of healthcare, and large research and development expenditure.
The Asia Pacific excluding Japan carotid stenting systems market is expected to grow at a significant CAGR owing to growing healthcare expenditure. China and India are expected to drive a lion’s share of the market growth owing to growing healthcare infrastructure and expenditure. The expanding number of cases owing to growing risk factors is another driver of the market. Europe carotid stenting systems market is expected to be led by Germany, France and the U.K. The Middle East and Africa carotid stenting systems market is expected to be skewed in favor of the gulf economies of Saudi Arabia, Kuwait, and Qatar. The development of large medical complexes such as the King Fahd Hospital in Riyadh, Saudi Arabia, coupled with the large public healthcare share of which is approximately 75 % of the total healthcare expenditure is expected to drive the market for carotid stenting systems in the MEA.
Carotid Stenting Systems Market: Key Players
Examples of some of the major players operating in the global carotid stenting systems market are Abbott Vascular, Boston Scientific Corporation, Cardinal Health Company, Medtronic, Silk Road Medical, InspireMD, Balton Sp. z o. o., etc. Collaboration between players and strategic business partnerships are the strategies that can yield premium.