Venous Stents Market to Reach $2.44B by 2032

According to Fact.MR, a market research and competitive intelligence company, the global venous stents market is now valued at $1.08 billion and is expected to grow at an 8.5% CAGR between 2022 and 2032.

Venous stents are metal mesh tubes used to treat chronic blood clots and other medical disorders. They act as a support structure, keeping veins open. Surgeons often implant venous stents in bigger, main veins such as the legs, chest, and belly.

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They are adaptable tools that help support the vascular walls of both peripheral and central veins. The development of numerous effective technologies for the accurate positioning of stents in veins, as well as an increase in key players' investments in the advancement of flexible venous stents with potential radial strength, are expected to boost demand for venous stents over the forecast period.

North America now leads the global venous stents market. Europe is the market leader in venous stent sales, followed by North America. The large number of patients who require venous stent implantation due to various heart-related illnesses is expected to drive venous stent sales in Europe.

Furthermore, the region's market is expected to expand due to the existence of multiple leading venous stent manufacturers as well as a thriving healthcare industry.

Asia Pacific is another rapidly growing area in the venous stent industry. Several nations in the region have raised their investments in healthcare infrastructure and treatment standards, which is driving the industry forward.

Which Challenges are Faced by Venous Stent Manufacturers?

Strict regulations and policies for medical device approvals by regulatory bodies are expected to slow down stent production.

Recent reports of unintended adverse patient outcomes have led to the recall of several venous procedure devices from the market.

For example, in 2017, Vascular Solutions Inc. recalled around 7,000 units of their venture catheters due to extra material at the catheter tip that could have caused it to split during surgeries, potentially leading to blood clots.

To avoid such issues during trials, leading medical device manufacturers thoroughly examine and test each product in the lab. This process reduces the effective shelf life of critical surgical tools, limiting the long-term growth potential of venous stents.

Country-wise Analysis

The United States currently leads the North American venous stents market. The dominance is mainly due to the presence of major companies that leverage advanced medical technologies to produce stents.

Additionally, the country's well-developed healthcare infrastructure and substantial government investments in healthcare are key drivers of venous stent market growth. Supportive government policies and increasing research collaboration agreements further contribute to rising demand for venous stents.

According to the Centers for Disease Control and Prevention (CDC) in June 2022, deep vein thrombosis (DVT) or pulmonary embolism (PE) affects 900,000 individuals annually in the United States. Around 30% to 50% of those with DVT may experience long-term effects such as edema, pain, discoloration, and scaling in the affected leg (post-thrombotic syndrome).

The rising senior population, combined with an increase in cardiovascular illnesses in European countries such as the United Kingdom, Germany, and Italy, is likely to drive up venous stent sales.

According to the Max Planck Institute, CVDs are the leading cause of death in Germany, with over 1 million people living with the condition.
Sales of venous stents in Germany are expected to grow at a CAGR of 7% over the forecast period. Thus, increased prevalence of cardiovascular diseases in European countries are projected to boost demand for venous stents.