The peripheral vascular stents market in India is expected to grow at a compound annual growth rate (CAGR) of 6% between 2021 and 2030, driven by the growing prevalence of peripheral artery disease (PAD), improved diagnosis and increased availability of treatment, forecasts GlobalData, a leading data and analytics company.

GlobalData’s latest report, ‘Peripheral Vascular Stents (Cardiovascular) – Global Market Analysis and Forecast Model (COVID-19 Market Impact)’, reveals that Boston Scientific Corp, Abbott Laboratories, Becton Dickinson and Co, and Medtronic Plc are the major players in Indian peripheral vascular stents market, together accounting for more than 60% of the market in 2021.

Anusha Kaushik, Medical Devices Analyst at GlobalData, comments: “The market in India is mainly driven by the increase in risk factors and comorbidities such as hypertension, obesity, diabetes, and increased usage of tobacco. These comorbidities have led to the growing prevalence of PAD in the general population. As the healthcare infrastructure improves in India, the detection of PAD in lower extremities is expected to increase significantly.”

Bare metal stents and drug eluting stents accounted for more than 80% of the Indian market in 2021, as they have better clinical trial results. The demand for peripheral vascular stenting will increase in the coming years as they are less invasive, require less recovery time, have less risk of infection, and are widely being used in clinical practice.

Kaushik concludes: “Resurge in COVID-19 cases along with concerns on new variants is expected to result in lower growth for the peripheral vascular stents market in first half of 2022. Backlog of cases should also result in procedure volumes surge in second half of 2022. As focus on diagnosis improves, the number of PAD cases are expected to increase significantly in the coming years. Once more doctors become trained and experienced with peripheral vascular stenting, there can be a significant uptick in the procedure volumes in the future.”