United States Venous Stents Market Increasing Prevalence of Venous Diseases and Advancements in Technology Driving Growth
The venous stents market is a growing segment of the medical device industry that focuses on treating venous diseases such as deep vein thrombosis (DVT), chronic venous insufficiency (CVI), and venous reflux disease. Venous stents are small metal mesh tubes that are placed inside a vein to help keep it open and improve blood flow. The market for venous stents is expected to grow significantly in the coming years due to several factors, including an aging population, increasing prevalence of venous diseases, and advancements in technology that have made stenting safer and more effective
Venous stents are metal mesh tubes used to treat chronic blood clots and other diseases. They act as a framework to keep veins open. Typically, surgeons place venous stents in large, important veins like the legs, chest, and abdomen. Both the peripheral and central veins’ vascular walls are supported by these adaptable instruments. The development of numerous efficient technologies for the precise positioning of stents in veins and an increase in key players’ investments in the development of flexible venous stents with potential radial strength are the main factors anticipated to spur demand for venous stents during the projected period.
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Key Takeaways from Market Study
- The global market for venous stent devices is projected to reach US$ 2.44 billion by 2032.
- Germany’s market is predicted to expand at a CAGR of 7% during the forecast period.
- Demand for venous stents in China is expected to rise at an impressive CAGR of 12% during the forecast period.
- Revenue from Wallstent technologies is expected to increase at a high CAGR of 9% during the next 10 years.
Which Challenges are Faced by Venous Stent Manufacturers?
- Product design: Designing a venous stent that can be implanted safely and effectively is a significant challenge. The stent needs to be flexible enough to navigate through the veins, but also strong enough to maintain its shape and provide support to the vessel walls.
- Regulatory compliance: Venous stents are regulated by government agencies such as the FDA in the United States and the European Medicines Agency in Europe. Meeting regulatory requirements can be a lengthy and expensive process, and failure to comply can result in significant fines and damage to a company’s reputation.
- Manufacturing complexity: The production of venous stents is complex and requires specialized equipment and skilled labor. Maintaining quality control and ensuring consistency in production can be challenging.
- Clinical trials: Conducting clinical trials to demonstrate the safety and efficacy of venous stents is an important step in the development process. However, clinical trials can be time-consuming and expensive, and there is no guarantee of success.
- Competition: The venous stent market is highly competitive, with several large players dominating the industry. New entrants must compete with established companies that have significant resources and established market share.
- Cost: Venous stents can be expensive, and reimbursement rates vary depending on the country and the specific healthcare system. Companies must balance the need to make a profit with the need to price their products competitively to remain viable in the market.
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Winning Strategy
To increase their market share, top companies are focusing on developing technologically sophisticated venous stent devices. The technological and functional developments in venous stents boost sales growth.
- The Pulsar-18 T3 peripheral self-expanding stent system from BIOTRONIK was approved by the U.S. Food and Drug Administration (FDA) in July 2021 for a better implantation method during endovascular procedures.
Key Companies Profiled by Fact.MR
- Becton, Dickinson Company
- Boston Scientific Corporation
- Cook Medical LLC
- Gore Medical
- Jotec GmbH
- OptiMed Medizinische Instrumente GmbH
What is Outlook for Venous Stent Sales in the United States?
The market for venous stents in North America is currently dominated by the United States. The larger share is primarily attributable to the existence of large firms and their utilization of cutting-edge medical technologies in the production of stents.
Additionally, one of the main factors boosting sales growth is a well-developed healthcare infrastructure and significant financial investments by the government in the healthcare sector. Another factor that is likely to increase demand for venous stents is the rise in research collaboration agreements and supportive government policies.
- According to the Centers for Disease Control and Prevention in June 2022, 900,000 people in the United States may experience deep vein thrombosis (DVT) or pulmonary embolism (PE) each year.
- A DVT may have long-term consequences (post-thrombotic syndrome), which include edema, pain, discoloration, and scaling in the affected leg, for up to 50% of patients.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global venous stents market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032.
The study divulges essential insights on the market on the basis of application (leg, chest, abdomen, arm), disease indication (chronic deep vein thrombosis, post thrombotic syndrome, May-Thurner syndrome, hemodialysis/arteriovenous fistulae), and technology (Iliac vein stent technologies, Wallstent technologies), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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