PUBLISHER: Grand View Research | PRODUCT CODE: 1446554
PUBLISHER: Grand View Research | PRODUCT CODE: 1446554
The globall iliac stent market size is expected to reach USD 1.53 billion by 2030, projected to grow at a CAGR of 5.8% from 2024 to 2030, based on a new report by Grand View Research, Inc. The market is expected to grow due to factors such as the increasing prevalence of peripheral artery diseases, growing advancements in medical technology, and expanding awareness about minimally invasive procedures as an effective treatment option for cardiovascular diseases.
The industry's growth is driven by new product development and aligned procedures with enhanced patency. For instance, self-expanding stents have demonstrated exceptional results in the treatment of external iliac artery. Furthermore, the growing prevalence of peripheral artery disease (PAD) is expected to propel iliac stents market growth. According to an article by the Institute for Health Metrics and Evaluation in October 2023, the global prevalence of PAD was pegged at 1.52% or nearly 113 million people. Additionally, NCBI's article in 2022 projected the annual incidence of PAD to be nearly 10 million.
An increase in strategic initiatives amongst the key players of iliac stents is anticipated to propel growth. For instance, in January 2024, Zylox-Tonbridge Medical Technology Co., Ltd. received marketing approval from the National Medical Products Administration (NMPA) for its peripheral venous stent system. Furthermore, in October 2023, Getinge AB announced the commercial availability of its product, iCast covered stent system to treat iliac arterial occlusive disease in the U.S.