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3. Medtronic Plc (Ireland) and Abbott Laboratories (US) are Leading Players in the Vascular Stent Market

The vascular stent market is projected to reach USD 15.6 billion by 2029 from USD 11.4 Billion in 2024, at a CAGR 6.5% from 2024 to 2029.

Vascular stents are small, mesh-like tubes inserted into blood vessels to keep them open and preserve blood flow. They are often used to treat conditions like peripheral artery disease, coronary artery disease, and endovascular aortic aneurysm. Stents are made of metal or biodegradable polymers, and they can be coated with drugs to prevent the vessel from narrowing again.

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The cardiac tisssue engineering market is a highly consolidated market and is dominated by key players. The major players operating in this market are Medtronic Plc (Ireland), Abbott Laboratories (US), Boston Scientific Corporation (US), B Braun SE (Germany), Terumo Corporation (Japan), Biotronik SE & Co.KG (Germany), Shanghai Microport Medical (Group) Co., Ltd (China), Meril Life Science Pvt. Ltd (India), Sahajanan Medical Technologies Limited (India), Becton, Dickinson, and Company (US), W.L. Gore & Associates, Inc (US), Cordis Corporation (US), Artivion Inc (US), Stryker Corporation (US), LifeTech Scientific Corporation (China), Translumina (Germany), Lepu Medical Technology (Beijing) Co., Ltd (China), Endologix LLC. (US), Biosensors International Group, Ltd (Singapore), Cook Medical (Indiana), Insitu Technologies Inc (US), iVascular (Spain), OrbusNeich Medical Group Holdings Limited (China), Alvimedica (Turkey), and Elixer medical (US)

MEDTRONIC PLC (IRELAND)

Medtronic Plc is a recognized global leader in medical equipment, providing services to patients, doctors, clinics, and healthcare systems in more than 150 countries. The corporation is divided into four primary business segments: the diabetes operational unit, the medical surgical portfolio, the neurological portfolio, and the cardiovascular portfolio.  Medtronic provides a variety of vascular stents to treat endovascular aortic aneurysms, peripheral illnesses, and coronary artery disease under their portfolios for neurological and cardiovascular conditions. Their substantial R&D expenditure fosters ongoing innovation, delivering state-of-the-art solutions and improving patient outcomes. By consistently launching and receiving FDA approval for a range of vascular stents, Medtronic has solidified its competitive position in the vascular stent industry, demonstrating its commitment on organic growth.

ABBOTT LABORATORIES (US)

Abbott Laboratories is a major player in the healthcare sector, with a focus on product development, manufacture, and sales. The business is divided into four primary business segments: medical device, established pharmaceutical products, diagnostic products, and nutritional products. Abbott provides a range of stents, including carotid stents, Supera Peripheral Stent systems, Xience drug-eluting stents, and peripheral vascular stents, to the vascular stent market through its medical device sector. Direct interactions with wholesalers, hospitals, ambulatory surgery centers, doctor offices, and distributors are all part of their marketing and sales strategy. Abbott has demonstrated its commitment to innovation by its significant investment in research and development, as evidenced by the launch of a bioabsorbable stent. Abbott is at the forefront of the industry, satisfying a wide range of patient needs and establishing new benchmarks in vascular care owing to their dedication to developing technology and broadening their product line.

BOSTON SCIENTIFIC CORPORATION (US)

Boston Scientific Corporation is a global company that develops, manufactures, and distributes medical devices for a wide range of interventional medical specialties. There are two sections to its main business. Medsurg and Cardiovascular. The Cardiovascular segment is further segmented into Cardiology and Peripheral Intervention, where the company services the vascular stent market. Boston Scientific makes money in both domestic and foreign markets. The corporation demonstrated a significant commitment to innovation and technical improvement in 2023 by increasing its R&D spending by USD 91 million, a 7% increase from the previous year. The company remains competitive and adaptable to market demands by offering a wide range of products that cater to different medical needs. Boston Scientific also employs inorganic expansion tactics, such as purchasing businesses that are experts in the production of vascular stents. Through these acquisitions, it broadens its product line and increases its market reach. These calculated moves demonstrate the company's commitment to improving healthcare with cutting-edge technology and all-encompassing market strategies in the vascular stent industry.

Related Reports:

Vascular Stent Market by Technology (Dug-eluting, Covered), Product (Coronary, Peripheral (Carotid, Renal)), MOD (Balloon-expandable, Self-expanding), Material (Metal (PtCr,CoCr), Polymer), End User (Hospitals, Cardiac Center) - Global Forecast to 2029

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