The rising in incidence rate of peripheral artery disease is the primary factor driving the growth of the lower limb arterial stents market. Rapid technological advancement and the wide acceptance of this treatment among patients are also expected to fuel the growth of the lower limb arterial stents market over the forecast period. Moreover, the change in lifestyle pattern is also responsible for the robust growth of the Lower Limb Arterial Stents Market.
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A lower limb arterial stent is a metal scaffold permanently implanted in an artery to keep the artery open treat patients suffering from Peripheral Artery Disease (PAD). Peripheral artery disease is a progressive disease caused by the accumulation of plaques in the arterial system. Peripheral artery disease affects three major segments – aortic-iliac, femoropopliteal and infra-popliteal arteries. According to National Health and Nutrition Examination Survey (NHANES), the prevalence of PAD is 14.5% among individuals of 70 years or above. It was reported that about 50% of all peripheral artery disease cases are caused by smoking. Atherosclerosis is a severe disease that affects lower limb blood vessels and other arteries of the body. It is generally caused due to the deposition of fat and cholesterol within the blood vessel, which leads to the thickening of blood vessel wall. It was found that the risk of heart diseases is six times higher in patients with severe peripheral artery disease. The thickened blood vessel wall becomes narrow, which is responsible for blockage. To remove this blockage from the artery, a thin guide wire called stent is inserted through a catheter into the blocked arteries. The metal stent is often placed within the artery to keep the artery from narrowing.
On the other hand, various alternative treatment options and the high cost of surgery degrade the growth of the lower limb arterial stents market. Also, the lack of awareness among patients also hinders the growth of lower limb arterial stents market.
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The global lower limb arterial stents market is expected to show significant growth over the forecast period due to the increasing incidences of peripheral artery disease, due to lifestyle changes and rise in geriatric population. Recently, drug-eluting stents have been developed, which release small amounts of medication periodically to reduce hyperplasia. Rapid technological advancements and the higher adoption of this treatment increase the market share of lower limb arterial stents. Among product types, balloon expandable stents hold the largest market share in lower limb arterial stents as they are more preferred by surgeons.
On the basis of geography, the lower limb arterial stents market can be classified in seven key regions viz. North America, Latin America, Europe, CIS & Russia, Asia-Pacific excluding Japan, Japan, Middle East and Africa. North America is expected to dominate the global lower limb arterial stents market, due to a rise in geriatric population and increasing incidences of peripheral artery disease. Additionally, unhealthy lifestyles also increase the prevalence of peripheral artery disease in this region. North America Lower Limb Arterial Stents market is followed by Europe, due to the higher adoption of this treatment and technological advancements in this region. Asia Pacific Lower Limb Arterial Stents market is expected to grow at a higher rate in the lower limb arterial stent market, due to the increasing awareness among patients and better healthcare facilities. The Middle East and Africa Lower Limb Arterial Stents market exhibits delayed growth due to poor healthcare facilities and lack of awareness among patients.
Some of the key players operating across the value chain of the lower limb arterial stents market include Boston Scientific Corporation, Cordis Corporation, Abbott Vascular, Inc., W.L. Gore & Associates, Becton, Dickinson and Company, Medtronic plc, Cook Medical Inc. and others.
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Lower Limb Arterial Stents Market Growth in the Coming Years 2018 to 2028
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