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May 25, 2021updated 21 Mar 2022 7:26am

Carotid artery bare metal stents avoids declining growth due to APAC regional success

The carotid artery bare metal stents (BMS) market experienced a 2.7% growth in revenue in the Asia-Pacific (APAC) region last year, despite the impacts of the Covid-19 pandemic.

By GlobalData Healthcare

The carotid artery bare metal stents (BMS) market has historically been a rapidly growing market. Like the majority of cardiovascular device markets, this market experienced a major decline last year due to interruptions of procedures from the Covid-19 pandemic. Procedures declined from last March to last May, but according to GlobalData’s analysis, procedure volumes quickly returned to normal in June and remained steady for the rest of the year.

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Medical Device Industry Landscape In Asia-Pacific

GlobalData's APAC Medical Devices Industry Landscape – 2022 free study breaks down the APAC medical devices market by segment and region and includes insights on local and global competitors, pipeline product developments, clinical trials studies, and significant deals in the industry. The APAC medical device industry witnessed significant developments, launches, implementations, and adoption of new medical device technologies in the past decade, however the high cost of devices, regulatory hurdles, reimbursement pressure, and healthcare budget constraints have challenged market expansion across various territories and segments. APAC is the fastest growing regional market for medical device clinical trials, with China and Japan emerging as major clinical trial hotspots. The growth in medical device clinical trials in the APAC region is attributed to an increase in research partnerships between biopharma companies and clinical research organizations (CROs). This report also provides an in-depth analysis of the medical device market's opportunities and challenges, the influence of COVID-19 on the market, and government activities aimed to develop the APAC medical device market.
by GlobalData
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Carotid artery BMS are used to prevent strokes in patients with carotid artery stenosis. Due to the Covid-19 pandemic, procedures were restricted to only symptomatic patients. GlobalData estimates that procedure volumes declined by 40% in the US during the three-month lockdown period last year. At the end of last year, GlobalData estimates that revenue in the market had declined by 2% in the US compared to the 2019 total revenue.

The North America and Asia-Pacific (APAC) regions each make up 40% of the carotid artery BMS market. GlobalData’s analysis suggests that faster market growth and fewer cases of Covid-19 in the APAC region, especially China, led to a 2.7% growth in revenue for the region compared to the 2019 total revenue.

Abbott Laboratories is the market leader in carotid artery BMS, both globally and in the APAC region. The company is expected to maintain its majority market share even with new players joining the playing field. Tel Aviv-based company InspireMD recently announced an agreement with three Chinese partners to assist with regulatory processes in China in exchange for an eight-year exclusive distribution of its CGuard Embolic Prevention System.

Carotid artery BMS products have gained attention due to their success at reducing stroke risk and being a more favourable option than endarterectomies. This market is expected to have rapid growth this year due to the restoration of elective procedures, and will experience both new product approvals and increased financial investments compared to previous years.

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Free Report
img

Medical Device Industry Landscape In Asia-Pacific

GlobalData's APAC Medical Devices Industry Landscape – 2022 free study breaks down the APAC medical devices market by segment and region and includes insights on local and global competitors, pipeline product developments, clinical trials studies, and significant deals in the industry. The APAC medical device industry witnessed significant developments, launches, implementations, and adoption of new medical device technologies in the past decade, however the high cost of devices, regulatory hurdles, reimbursement pressure, and healthcare budget constraints have challenged market expansion across various territories and segments. APAC is the fastest growing regional market for medical device clinical trials, with China and Japan emerging as major clinical trial hotspots. The growth in medical device clinical trials in the APAC region is attributed to an increase in research partnerships between biopharma companies and clinical research organizations (CROs). This report also provides an in-depth analysis of the medical device market's opportunities and challenges, the influence of COVID-19 on the market, and government activities aimed to develop the APAC medical device market.
by GlobalData
Enter your details here to receive your free Report.

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