PUBLISHER: Grand View Research | PRODUCT CODE: 1553553
PUBLISHER: Grand View Research | PRODUCT CODE: 1553553
The global covered stent market size was estimated at USD 1.13 billion in 2023 and is projected to grow at a CAGR of 4.1% from 2024 to 2030. The market's growth is driven by the increasing prevalence of vascular diseases, advancements in covered stent technology, greater awareness and diagnosis, and the expanding range of applications and indications. In April 2024, the American Heart Association, Inc. reported that the global prevalence of lower extremity peripheral artery disease (PAD), affecting between 116 and 230 million people, is a major factor driving the increased demand for covered stents. This high prevalence underscores the urgent need for effective vascular interventions, positioning covered stents as a critical solution for managing PAD and enhancing patient care worldwide.
Technological advancements in covered stents are propelling the market growth. A February 2023 article by MDPI highlights that covered stents are now being designed with advanced biocompatible polymers, such as polytetrafluoroethylene (PTFE). These materials serve as barriers to prevent tissue ingrowth, significantly reducing the risk of restenosis. Additionally, they are particularly effective in sealing off exposed inflammatory surfaces, which may help inhibit the development of neointimal hyperplasia.
Moreover, in November 2023, 3D printing technology is revolutionizing the creation of personalized covered stents tailored to match the unique anatomical structures of individual patients. This approach allows the production of stents with customized dimensions and mechanical properties, improving their performance and integration within the vascular system. Furthermore, the latest generations of covered stents incorporate drug-eluting capabilities, enabling localized delivery of anti-proliferative drugs to mitigate the risk of restenosis further. Ongoing research is exploring the sequential release of multiple drugs to optimize healing processes and minimize complications.
The superior efficacy of covered stents is a key driver of market growth. An article published by Elsevier Ltd. in April 2024 highlights the advantages of covered stents over bare-metal stents in treating chronic mesenteric ischemia. A study conducted across six centers in the Netherlands found that covered stents had significantly better long-term patency, with 81% maintaining primary patency at 24 months, compared to just 49% for bare-metal stents. This enhanced performance underscores the increasing preference for covered stents, fueling their adoption in vascular procedures.
Increased awareness and diagnosis are key factors driving market growth. According to a Yale School of Medicine article published in September 2023, September has been designated as National Peripheral Artery Disease (PAD) Awareness Month. This initiative aims to raise public awareness about PAD by educating people on its risk factors, symptoms, and the importance of early diagnosis. Throughout the month, various organizations conduct outreach efforts, provide educational materials, and encourage at-risk individuals to undergo vascular screenings. The primary goal is to emphasize the importance of early detection and treatment to prevent serious complications associated with PAD.
Additionally, international surveys conducted in March 2021 assessed public awareness of PAD in various countries, revealing that 57% of participants were unfamiliar with the condition, highlighting a significant knowledge gap. The surveys also identified variations in awareness between countries and across age groups, underscoring the need for targeted awareness initiatives. These findings aim to assist healthcare providers and policymakers in developing more effective educational campaigns to address the current shortcomings in PAD awareness.
Global Covered Stent Market Report Segmentation
This report forecasts revenue growth at global, regional & country levels and provides an analysis of the industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global covered stent market report based on product, end use, and region: