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Asia Pacific Stents Market Expected to Boost the Industry at USD 9.4 Billion by 2027

Author : Ronak Bora | Published Date : 2021-09-03 

The Asia Pacific stents market is expected to gain substantial growth momentum over the coming years owing to rising geriatric population and increasing prevalence of cardiovascular diseases. Numerous advancements in healthcare technology are constantly being made, which would greatly contribute towards regional market growth. Stenting technology is in fact flourishing and is mostly chosen over conventional balloon angioplasty. The launch of advanced DES and innovation of bioresorbable scaffolds is a major reason behind the demand.

Surgical interventional methods have experienced a major change with immense advancements in minimally invasive surgical procedures. These procedures can be performed with very less amount of pain and complexities, with smaller incisions, which benefits both the patient and the surgeons for more precise procedures.

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As there are minimal cuts and stiches, the recovery is usually quick, and patients do not have to visit the hospital regularly for follow-up sessions. Subsequently, these parameters are likely to elevate the demand for minimally invasive techniques, bolstering the Asia Pacific stents market expansion. Following are some of the key trends that are expected to shape the regional industry growth:

Growing demand for metal stents

With respect to the material, metal stents segment will exhibit substantial growth of more than 4.6% over the forthcoming time period. It is to be noted that during the stents application in surgical procedure, it is essential to check the material’s hypersensitivity. Metal stents are mostly preferred among patients and surgeons since they are biocompatible to avoid corrosion, radio opaque and immune response.

Application scope of non-vascular stents

In terms of product, in 2020, the non-vascular stents segment accounted for a revenue share of more than $477.3 million. The segment is further expected to register similar growth over the coming time period. These type of stents are utilized for numerous application like oesophageal and bronchial, which includes tracheal and biliary implantations. Stents use minimally invasive techniques for implantation, which is mostly preferred in comparison to an open surgical technique. This Asia Pacific stents market raises the demand of stents usage, accelerating segmental growth.

Availability of cost-effective treatments in hospitals

In terms of end-use, the hospital end-user segment dominated the overall Asia Pacific stents market with a share of around 74% in 2020. The segment will continue to lead the product demand in the coming years. Fully equipped medical facilities as well as infrastructure are increasing the patient preference towards hospitals. With growing investment, numerous government hospitals can offer cost effective treatment, which will positively impact the industry revenue. In addition, availability of skilled healthcare specialists will also play a crucial role in fostering segment growth.

Growing cardiovascular disorders in Australia

On the geographical front, the stents market in Australia is expected to witness a growth at more than 5.4% over the projected time period. Rising adoption of sedentary lifestyles, with no physical activity, and poor dietary practices are resulting in an elevated risk of cardiovascular ailments in the country. Subsequently, rising occurrence of chronic diseases and growing aging population are further creating a more expansive patient population in the region, which will drive the industry growth in Australia.

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Medtronic, Boston Scientific Corporation and Abbott Laboratories among others are some of the key players operating in the Asia Pacific stents market. Industry participants are focusing on numerous business strategies such as new product launches, collaborations, geographic expansion, and mergers to fortify their market position. Citing an instance, OrbusNeich Medical Co. Ltd, in September 2020, announced the introduction of its new Combo Bio-engineered sirolimus eluting stent across China. The approval will further reinforce the firm’s presence in the expanding market and would surge its revenue generation stream.

Table of Contents (ToC) of the report:

Chapter 1.  Methodology

1.1. Definition and forecast parameters

1.1.1.  Definitions

1.1.2.  Methodology and forecast parameters      

1.2. Data sources

1.3. References & sources

1.3.1.  Secondary

1.3.2.  Primary

Chapter 2.  Executive Summary

2.1. Asia Pacific stents market summary, 2016 – 2027

2.1.1.  Country trends

2.1.2.  Product trends

2.1.3.  Material trends

2.1.4.  Type trends

2.1.5.  End-use trends

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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