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What Are the Projected Expansion Rates of the Iliac Stent Market for the Next Decade?
In the last few years, the iliac stent market has seen substantial growth. It is predicted to increase from $1.02 billion in 2024 to $1.09 billion in 2025 with a compound annual growth rate (CAGR) of 7.2%. The growth experienced in the historical period can be credited to the expansion of the worldwide healthcare industry, a heightened awareness around minimally invasive procedures, increasing demand for stenting procedures, a rise in the occurrence of iliac artery conditions, and improved healthcare facilities.
In the coming years, the iliac stent market is projected to witness significant growth, escalating to $1.43 billion in 2029 with a compound annual growth rate (CAGR) of 6.9%. This surge during the forecast period can be credited to the increasing occurrence of peripheral artery diseases, a growing elderly population, a rise in angioplasty procedures, the need for less invasive procedures, and an increased rate of diabetes. The forecast period also sees major trends like technological upgrades in iliac stents, a growing number of product approvals, advances in medical technology, widening distribution networks, and the adoption of iliac stents in outpatient venues.
Which Macro and Microeconomic Factors Are Accelerating the Growth of the Iliac Stent Market?
The forecasted growth of the iliac stent market can be attributed to the rising incidence of peripheral artery diseases. Characterized by the constriction or blockage of arteries outside the cardiac and cerebral regions, peripheral artery disease (PAD) has been on the rise due to factors such as smoking, an elderly population, hypertension, and diabetes. A highly successful and minimally invasive treatment for PAD patients is iliac stenting, which promotes better blood circulation, alleviates symptoms, and hinders complications. The Society For Cardiovascular Angiography And Interventions, based in the US, reported in July 2023 that each year, between 8-10 million Americans suffer from PAD, and by the year 2050, this figure is anticipated to reach 19 million. Thus, the growing instances of PAD are giving impetus to the iliac stent market.
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Which Companies Are Redefining the Future of the Iliac Stent Market?
Major companies operating in the iliac stent market are:
• Cardinal Health Inc._x000D_
• Abbott Laboratories_x000D_
• Medtronic Plc_x000D_
• Becton_x000D_
• Dickinson and Company_x000D_
What Trends Are Poised to Drive the Future Success of the Iliac Stent Market?
Leading firms within the iliac stent sector, are working on groundbreaking products such as iCast, with the goal of enhancing patient outcomes and lowering complication risks. The iCast-covered stent system exhibits a novel strategy for the treatment of iliac artery occlusive disease, delivering improved functionality and diminished risks compared to standard bare-metal stents. For instance, in October 2023, Getinge, a healthcare establishment based in Sweden, publicized the commercial accessibility of the iCast-covered stent system in the USA, intended for the treatment of iliac arterial occlusive disease and approved by the Food and Drug Administration (FDA). This approval highlights Getinge’s dedication to delivering premium products and support to U.S. clinicians and medical facilities as they strive to manage this serious ailment.
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Which Market Segments Are Driving Strategic Growth and Trends in the Iliac Stent Market?
The iliac stent market covered in this report is segmented –
1) By Type: Self-Expandable Stents, Balloon-Expandable Stents, Other Types
2) By Artery Lesions: Common Iliac Artery Lesions, Severe Calcified Lesions, Complete Obstructive Lesions
3) By End-Users: Hospitals, Outpatient Facilities, Other End-Users
Subsegments:
1) By Self-Expandable Stents: Nitinol Self-Expandable Stents, Polymer-Coated Self-Expandable Stents
2) By Balloon-Expandable Stents: Bare-Metal Balloon-Expandable Stents, Drug-Eluting Balloon-Expandable Stents
3) By Other Types: Covered Stents, Hybrid Stents
What Are the Leading Regions in the Iliac Stent Market Expansion?
North America was the largest region in the iliac stent market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the iliac stent market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
How Is the Iliac Stent Market Classified and Defined in Market Analysis?
Iliac stents are specialized medical devices designed to treat atherosclerosis in the iliac arteries, which are located in the pelvic region. These stents are deployed through minimally invasive procedures such as angioplasty to expand and support narrowed or blocked arteries.
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