Carotid Artery Stent Market is segmented By Product Type (Self-Expanding Stents, Balloon Expandable Stents, Others), By End User (Hospitals & Clinics,....
Market Driver - Increasing Prevalence of Cardiovascular Diseases such as Stroke and Ischemic Stroke
The carotid artery stent market is expected to gain significant traction in the coming years owing to the rising incidence of cardiovascular diseases across the globe. Among various cardiovascular conditions, the prevalence of ischemic stroke and transient ischemic attack is escalating at an alarming rate. As per WHO, 15 million people suffer from stroke worldwide each year, out of which 5 million people die and another 5 million are permanently disabled.
Ischemic strokes, which are caused due to blockage or narrowing of carotid arteries supplying blood to the brain, account for nearly 87% of total stroke cases. Some of the key risk factors responsible for high ischemic stroke incidence include obesity, physical inactivity, unhealthy diet, smoking, high blood pressure, diabetes, and older age. The risk spikes substantially among individuals with narrowed carotid arteries having 70-99% blockage.
Early detection and treatment of such severe carotid artery stenosis cases are crucial to prevent debilitating and life-threatening ischemic strokes. The global burden of ischemic strokes and carotid artery diseases is expected to escalate going forward. This will certainly fuel the demand for carotid artery interventions including carotid stenting procedures over the forecast period.
Market Driver - Rising Demand for Minimally Invasive Surgical Procedures
Another prominent driver for this market is the rising preference for minimally invasive treatment options among patients and physicians. Traditionally, carotid endarterectomy was the gold standard surgical method to treat severe carotid artery stenosis. However, the procedure required general anesthesia and incision in the neck to access the carotid artery, thereby making it highly invasive in nature.
Post-operative complications associated with carotid endarterectomy drove the demand for minimally invasive alternatives. This has propelled the adoption of innovative endovascular techniques like carotid artery stenting which do not necessitate open surgery.
Carotid stenting is performed under local anesthesia through a small incision in the groin using catheter-based procedures. This translates to shorter hospital stay, quicker recovery time, reduced post-operative pain and lower risk of surgical site infections compared to carotid endarterectomy.
Moreover, stenting can be applied to high-risk patients who are not eligible for open surgery due to comorbidities. The minimally invasive nature and procedural advantages have positioned carotid artery stenting as an attractive alternative especially in elderly population with significant carotid artery obstruction. Hence, the growing demand for minimally traumatic interventions amongst providers as well as patients is serving as a high impact driver for carotid artery stent market.
Market Challenge - High Costs Associated with Surgical Procedures
One of the major challenges faced by the carotid artery stent market is the high costs associated with surgical procedures for treating carotid artery diseases. Carotid endarterectomy surgery is the current standard treatment option which requires significant hospital resources and has a long recovery time for patients. This makes the overall treatment expensive for both patients and the healthcare system.
The costs of surgery include fees for the surgical room, intensive care monitoring, extended hospital stay of usually 4-5 days, rehabilitation and loss of productivity during recovery. Additionally, surgical procedures are also associated with certain risks such as general anesthesia complications and postsurgical infections which can further drive up the costs of treatment.
High medical costs put financial pressure on patients and restrict accessibility to life-saving carotid artery treatments. This challenge of high procedure costs poses a major barrier to the growth of the carotid artery stent market.
Market Opportunity - Technological Advancements, Including the Development of Drug-Eluting Stents
One of the key opportunities for the carotid artery stent market lies in ongoing technological advancements. Multiple new product developments are expanding treatment options available to physicians. Significant research and development activities are focused on introducing innovative stent platform technologies, delivery systems and techniques.
For instance, there is strong ongoing research on developing drug-eluting carotid artery stents that can help reduce issues like restenosis and inflammation. Drug-eluting stents work by slowly releasing antithrombotic or other medications from the stent surface, aiding the healing process after implantation.
The successful development and approval of drug-eluting carotid stents can help minimize post-treatment complications and drive repeat procedures. Such stent innovations are expected to make carotid artery stenting a more viable and reliable alternative to surgery, boosting demand. This emerging opportunity stemming from technological advancements will help spur growth in the carotid artery stent market during the forecast period.