Bioabsorbable Stents Market Size Worth $469.8 Million By 2025 | CAGR: 10.8%
Published Date : 23 / 07 / 18 | Report Format: PDF
The global bioabsorbable stents market is expected to grow at growth rate of 10.8% to reach USD 469.8 million by 2025.
The bioabsorbable stent is a medical device, used in the interventional management of coronary artery disorder. This therapeutic modality is considered to be the next step in stent evolution and presents a novel approach in the treatment and management of heart disorders. The bioabsorbable stent is made of polylactide and is designed to restore blood flow to the heart. It offers a faster degradation rate and absorbed in the body with minimal or no complications. This product provides temporal support to the vessel before being reabsorbed or degraded by the body, promoting restoration of vasomotion and vessel healing. Due to this fact, research activities to develop new stents based on bioresorbable scaffold technologies is increasing over the last couple of years.
This bioabsorbable vascular scaffold offers a new and effective approach for the treatment of coronary artery disease. Rising incidences of cardiovascular disorders are expected to boost the demand for this product globally. According to the World Health Organizations (WHO), cardiovascular disorder is one of the leading cause of death worldwide. Such factors would, in turn, boost the demand for this product, driving the industry growth. Other factors such as favorable government initiatives, technological advancements and rising number of companies investing in this market support the industry growth. On contrary, recent trial results for ABSORB III study and first bioabsorbable sent being pulled off the market in September 2017 has slow down the growth of this industry to some extent. In addition, the cost this product is almost twice as compared to the other drug-eluting stents which is one of the restraining factors for this market.
- Currently, polymer-based and metallic alloy-based bioabsorbable stents are in practice. The former contains a polymer such as Polycaprolactone, Polyglycolic Acid (PGA), Poly-L-Lactic acid (PLLA), Poly (D, L-lactide) copolymer (PDLA). A large number of clinical data is available for polymeric stents and has demonstrated its effectiveness over the metallic stents.
- Polymeric stents are the largest product segment, captured over 80% revenue share in 2017. The growth of this segment is attributed to the faster rate of degradation with minimal complications.
- Depending upon applications, the industry is categorized as peripheral artery disease and coronary artery disease. As per the various research studies, over 50% of cases of peripheral artery disease population have coronary artery disease, and thus it complements the strong growth of coronary artery disease applications for this industry.
- Regionally, it is noted that this industry in North America and Asia-Pacific is still underpenetrated
- The market in North America opened up late in 2015 after the U.S. FDA approval of Boston Scientific’s Synergy stent. Also, regulatory approval of Abbott’s Absorb stent by U.S. FDA (July 2016) has now assured significant growth of this industry in the future period.
- Companies namely Boston Scientific Corporation, Kyoto Medical Planning, and Abbott account for more than 70% of the industry share.
- Boston Scientific’s Synergy, Abbotts’ Absorb, and Kyoto Medical Planning’s Remedy were the top products in 2016
- Biotronik and Reva Medical, Inc. are considered to be the emerging players owing to the strong product pipeline
- In addition, Medtronic, a big player in global stents market is expected to enter into bioabsorbable stents market thus giving a stiff competition to the current key leaders
KEY BENEFITS OF THE REPORT:
- Understanding of the strategies that are being adopted by the key players in this market to stay competitive
- Extensive analysis of the key players dominating the competitive landscape of this market
- In-depth analysis of the key factors are propelling the growth of the global market
- Detailed analysis of the geographic region that will witness the strongest growth
- Granular analysis of the current market scenario and the expected market grow
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY MATERIALS
- Polymeric Stents
- Metallic Stents
MARKET, BY APPLICATION
- Coronary Artery Disease
- Peripheral Artery Disease
MARKET, BY END USERS
- Cardiac Care
MARKET, BY REGION
- North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Rest of the World
- Middle East and Africa
- Latin America
We strive to become one of the trusted partner of our client by offering value added services and concrete research data.
Tailor Made Solutions
From single reports and data downloads to enterprise subscriptions to custom consultancy, we can base our precise solutions round our client’s exact needs.
Our analyst aims to provide research studies in quickest turnaround time and in a much cost effective manner.
Data Accuracy And Reliability
We utilize a mix of primary, secondary research, and machine learning algorithms to generate accurate and comprehensive data about market size and revenue forecasts.
We offer most competitive pricing policy across the research industry
Why Choose Us
We devise research report with quality data:
Combined with an in-depth knowledge of the current industry and a sharp analytical mind, AnalystView serve our customer accurate research in accordance with a constantly evolving industry.
We work with businesses just like yours:
AnalystView committed to making a positive difference for our clients. This means whatever you demand, chances are we already have experience something similar.