Venous Stents Market

Venous Stents Market Snapshot

The global venous stents market held a valuation of USD 921.4 Million in 2022, and it is anticipated to expand at a CAGR of 8.4% over the forecasted years. According to a recent study by Future Market Insights, nitinol material is leading the market with a share of about 89.5% in the year 2022, within the global market.

Market Outlook

Data Points	Market Insights
Market Value 2022	USD 921.4 Million
Market Value 2033	USD 2.2 Billion
CAGR 2023 to 2033	8.4%
Market Share of Top 5 Countries	52.6%
Key Market Players	Becton; Dickinson and Company; Cook Group Inc; Boston Scientific Corporation; Medtronic; Koninklijke Philips N.V. (Vesper Medical Inc.); Optimed Medizinische Instrumente GmbH; plus medica GmbH & Co. KG; Abbott Laboratories; Inc.

A venous stent is a metal mesh tube that is placed inside a blocked or narrowed vein to keep it open. It acts as a scaffold to prevent the vein from collapsing and to allow blood to flow through it. Venous stenting is a minimally invasive procedure in which a fine angioplasty catheter is inserted into the affected vein. Using sophisticated imaging technology like venous ultrasound, a physician will carefully guide the angioplasty catheter to the vein's outer limits.

Venous stents are usually placed in larger, central veins such as the legs, chest, and abdomen. Stents are also used in arteries to keep them open after plaque has been removed. Venous stenting is also helpful in reduction of chronic pain, swelling, or helpful in venous ulcer healing in serious cases of existing post-thrombotic syndrome (PTS) after past deep vein thrombosis (DVT).

Sales Analysis of Venous Stents Market from 2018 to 2022 Vs Market Outlook for 2023 to 2033

The global sales of the venous stents are anticipated to rise at a CAGR of 8.4% between 2023 and 2033, owing to prevalence of venous diseases, adoption of minimally invasive procedures, growing ageing population, and increasing awareness about venous stents usage.

The global market holds around 8.5% share of the overall global stents market with a value of around USD 10.8 Billion, in 2022.

The market for venous stents is increasing due to the rising prevalence of various diseases related to the venous, such as chronic venous insufficiency, deep vein thrombosis, phlebitis, varicose and spider veins, and venous stenosis. Such aforementioned disorders require venous stents for treatment purposes, and thus, the rising prevalence of venous disorders among people is driving the market.

Similarly, rising key player’s product development strategies like flexible venous stents with high radial strength are also expanding the market growth. Significant advancement has been made in the design and development of venous stents, including innovations in stent materials, design, and delivery systems. This has resulted in the development of more effective and safer stents, which will boost the demand.

Owing to the above-mentioned factors, the global market is expected to grow at a prominent pace, and reach a valuation of around USD 2.2 Billion during the year 2033.

What are the Key Opportunities for the Manufacturers Operating in the Global Market?

Global cases of chronic cardiovascular diseases are increasing, owing to the world's growing senior population, as older people are more prone to heart-related problems.

According to the WHO in 2019, annually almost 17.9 million deaths happen due to cardiovascular diseases (CVDs) worldwide. Consequently, as the prevalence of CVD among people increases, so does the demand for cardiovascular surgery, which is promoting market expansion.

Obesity is also a substantial global risk factor for a number of heart ailments. The excessive or incorrect deposition of fat within the arterial wall brought on by obesity can lead to coronary heart disease and other health issues. As a result, the increased obesity rate may demand several venous surgeries which indirectly aid the market growth.

According to published article on proximal deep vein thrombosis (DVT) in medical critical care patients in 2022, around 13% to 31% patients are receiving medical critical care due to deep vein thrombosis. As per the article, 5.7% was the prevalence, while at around 10.1% was the incidence proportion for DVT.

The significant growth in patient base which is raising the demand for vein stent surgery is also aiding the market growth.

For instance, according to published article on rising incidences study of post-thrombotic syndrome of upper extremity vein thrombosis in the Journal of Vascular Surgery: Venous and Lymphatic Disorders in 2022, venous thrombosis of upper extremity (UEVT) is responsible to cause PTS of upper extremity (UE-PTS) at about 14.1%. Hence, the market will boost by the increasing chronic symptomatic venous disease cases.

What are the Factors Restraining Demand within the Global Market?

The restraints of the venous stents market include the high cost of venous stent procedures, lack of skilled professionals, and the risk of complications associated with venous stent implantation. The high cost of venous stent procedures is a major restraint for the growth of the venous stent market, as it limits the adoption of these procedures in developing countries. The lack of skilled professionals is also a challenge for the growth of the venous stent market, as it limits the availability of these procedures in certain regions. The risk of complications associated with venous stent implantation, such as stent migration, stent fracture, and stent thrombosis, is also a restraint for the growth of the venous stent market. The venous stent market is highly competitive, with many players operating in the development, manufacturing, and commercialization of venous stents.

The recall of numerous venous devices from the market is another factor hindering the market growth. Recently, recalls of many product was motivated by recent documentation of unanticipated unfavorable patient effects.

For instance, 7,000 venture catheters were recalled by vascular solutions Inc. in 2017 because the catheter tip contained excess material that could have split during operations and led to blood clots.

Country-wise Insights

What Makes the USA a Large Market for Venous Stents?

The USA led the global market with value share of around 32.8% in 2022 due to rising prevalence of deep vein thrombosis.

Annually 900,000 individuals are affected by Deep vein thrombosis (DVT) or pulmonary embolism (PE) affects in the United States, according to the Centre for Disease Control and Prevention in June 2022.

Therefore, the demand for venous stents is increasing as a result of the rising number of DVT procedures performed nationwide.

The growing healthcare expenditure in theUSA is driving demand for venous stents as more patients seek treatment for venous diseases.

According to the Centers for Medicare and Medicaid Services, healthcare expenditure in the USA is projected to reach USD 6.2 Trillion by 2028, up from USD 3.6 Trillion in 2018.

What Is the Outlook of Germany in the Global Market?

Germany held market share of around 4.4% in the global market 2022 and it is expected to expand further due to high prevalence of venous diseases.

The venous stents market in Germany is primarily driven by the increasing incidence of venous diseases and disorders. These conditions often require medical intervention, including the use of venous stents, to prevent serious complications such as pulmonary embolism or venous ulcers.

According to published article on venous diseases epidemiologic study in Germany on 19,104 workers in the Vascular Health and Risk Management journal 2021, active venous therapy is clearly indicated in 22.3% of the adult working population in Germany.

What is the Scenario of China within the Global Market Space?

China holds a market share of 6.3% in 2022 in the global market. Increased interventional cardiology and peripheral vascular operations, as well as rising acceptance of technology developments in an effort to minimize treatment duration for high-risk patients, are the primary growth factors for this market.

According to the Cetas healthcare system in Beijing, around 45% of peripheral treatments, 50% of PAD operations, and 30% atherectomy procedures were performed between 2019 and 2022.

Chinese regulatory approvals also confirm the quality and smooth market penetration for stents. For example, National Medical Products Administration (NMPA) regulatory services include strategy, registration, type testing, product technical requirement, and check clinical evaluation report.

What Makes India a Highly Lucrative Market for the Global Market?

India held a market share of around 3.6% in the global market 2022. The venous stents market in India is expected to grow significantly in the coming years, driven by the increasing availability of venous stents from global manufacturers. Many international companies are expanding their presence in India, either through partnerships or acquisitions of local companies, to tap into the growing demand for medical devices.

Category-wise Insights

Which Material is Driving the Global Market Expansion?

Nitinol material is holding the market share of 89.5% in the global market 2022 because of its benefits over other materials and availability of reimbursement.

Nitinol stents are a type of self-expanding stent made from a nickel-titanium alloy that can withstand the high pressures and forces in the veins. The use of Nitinol stents has become increasingly popular in the treatment of venous diseases due to their flexibility, durability, and ability to maintain the shape of the vein after implantation. Such advantages of the product in surgical procedures are expected to drive the adoption of Nitinol stents.

Which Indication is Largely of Concern within the Global Market?

Chronic Deep Vein Thrombosis (DVT) has a market share of 41.6% in the global market 2022. The prevalence of chronic DVT is increasing due to factors such as aging, obesity, sedentary lifestyles, and an increase in the number of patients undergoing surgery or cancer treatment.

For example, according to Centers for Disease Control and Prevention data 2023, every year, Chronic DVT or pulmonary embolism affects nearly 900,000 people in America, while causes death of more than 60,000 individuals.

Which Stent Design is Popular within the Global Market?

Open cell stent design has a market share of 88.1% in the global market 2022. In recent years, stents have been used more frequently in the treatment of venous disorders. Open-cell stents are made up of a mesh-like structure that allows for greater flexibility and conformability to the shape of the vein. This type of stent design has larger and more widely spaced struts compared to closed-cell stents, which can improve blood flow and reduce the risk of stent migration or fracture.

One of the advantages of open-cell stent design is that it allows for better coverage of longer lesions or areas of the vein with irregular shapes. Open-cell stents can also be compressed to a smaller profile for easier delivery through narrow or tortuous vessels.

Which Introducer Size is Largely of Concern within the Global Market?

Introducer size (F) 9 has a market share of 45.4% in the global market 2022. Introducer size 9 is an important in the venous stents market. An introducer is a device that is used to insert a stent into a blood vessel. The size of the introducer is an important consideration in venous stenting procedures, as it can impact the safety and efficacy of the procedure.

Introducer size 9 refers to an introducer with an outer diameter of 9 French (3 millimeters), which is a common size used in venous stenting procedures. Its advantage is like introducer size 9 is large enough to accommodate larger stents, which can be necessary in cases where the stenosis (narrowing) in the vein is severe.

Which End User Benefits More from the Sales within the Market?

Hospitals held a market share of 34.9% in the global market 2022. Hospitals are important end users for venous stents procedures because of availability of skilled healthcare professionals, and easy adoption of advanced technology in the hospital.

Rising incidence of chronic diseases being a major factor driving this growth. While there are no specific search results for hospital trends and drivers in the venous stents market, it can be inferred that the increasing prevalence of chronic diseases and the aging population are likely to drive demand for venous stents in hospitals. The development of new and innovative venous stents is also expected to further drive market growth.

Competitive Landscape

The key players in the market are actively working to improve their positions through product approvals, partnerships, acquisitions, launches, collaborations, and agreements with both existing and up-and-coming market participants. A manufacturer's chances of capturing a sizable market share significantly increases by acquisitions and partnerships.

A few examples of strategies acquired by the key players

• In May 2022, Becton Dickinson relaunched its Venovo venous stent in the USA market following a recall in May 2021.
• In December 2021, Vesper Medical, a US-based manufacturer of medical technology and peripheral vascular devices, has been acquired by Philips. With the new acquisition, Philip will be able to treat deep vein disease with a wider range of advanced venous stents.

Similarly, recent developments related to companies manufacturing venous stents have been tracked by the team at Future Market Insights. These are available in the full report.

Report Scope as Per Venous Stents Market Analysis

Attribute	Details
Historical Data Available for	2018 to 2022
Forecast Period	2023 to 2033
Market Analysis	USD Million for Value, and Units for Volume
Key Regions Covered	North America; Latin America; East Asia; South Asia & Pacific; Western Europe; Eastern Europe; Central Asia; Russia & Belarus; Balkan & Baltic Countries and Middle East & Africa
Key Countries Covered	The USA, Canada, Brazil, Mexico, Argentina, the United kingdom, Germany, Italy, Russia, Spain, France, Benelux, Nordics, Poland, Hungary, Romania, Czech Republic, India, Thailand, Indonesia, Malaysia, Philippines, Vietnam, Japan, China, South Korea, Australia & New Zealand, Kingdom of Saudi Arabia, Northern Africa, Türkiye, GCC Countries and South Africa
Key Market Segments Covered	Material, Indication, Stent Design, Introducer Size, End User, and Region
Key Companies Profiled	Becton, Dickinson and Company; Cook Group Inc.; Boston Scientific Corporation; Medtronic; Koninklijke Philips N.V. (Vesper Medical Inc.); Optimed Medizinische Instrumente GmbH; plus medica GmbH & Co. KG; Abbott Laboratories, Inc.
Report Coverage	Market Forecast, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, Strategic Growth Initiatives
Pricing	Available upon Request

Key Market Segments Covered in the Venous Stents Industry Research

Material:

• Nitinol
• Elgiloy

Indication:

• Chronic Deep Vein Thrombosis
• Post-Thrombotic Syndrome (PTS)
• May-Thurner’s Syndrome (MTS)
• Pelvic Congestion Syndrome (PCS)
• Others

Stent Design:

• Braided
• Open Cell
• Closed Cell
• Hybrid

Introducer Size:

• Size 6
• Size 7
• Size 8
• Size 9
• Size 10

End User:

• Hospital
• Ambulatory Surgery Centers
• Specialty Clinics
• Cardiac Catheterization Labs

Region:

• North America
• Latin America
• East Asia
• South Asia & Pacific
• Western Europe
• Eastern Europe
• Central Asia
• Russia & Belarus
• Balkan & Baltic Countries
• Middle East and Africa

Frequently Asked Questions

What is the global market size reported by FMI for 2022?

The global market is worth USD 921.4 Million for 2022, and is set to expand 2.4X over the next ten years.

What is global market estimated to reach in 2023?

The global market estimates for 2023 is around USD 990.5 Million.

What is the global market valuation expected for 2033?

The global market is set to reach USD 2.2 Billion by end of 2033.

What value CAGR did the global market exhibit over the last 4 years?

The global market exhibited a value CAGR of 6.9% in the last 4 years.

What is the projected CAGR for the global market from 2023 to 2033?

The global market is set to expand at a CAGR of 8.4% between 2023 and 2033.

Which material has garnered significant value share in 2022?

Nitinol material held a significant share of 89.5% in 2022 globally.

Which stent design will expanded rapidly over the forecast period?

Hybrid stent design will expanded rapidly with at a CAGR of 11.3% between 2023 and 2033.

What are the trends driving the demand outlook of the global market?

Rising prevalence of venous diseases, adoption of minimally invasive procedures, growing ageing population, and increasing awareness about venous stents usage are the key trends of the market.

Which region dominated the global venous stents market?

North American region dominated the global market with USA contributing around USD 301.9 Million in 2022

Which end user holds a large market share in the global market?

Hospitals held a market share of around 34.9% in the global market 2022.