The global bioabsorbable stents market was valued at $283.60 million in 2019, and is projected to reach $308.90 million by 2027, registering a CAGR of 5.6% from 2020 to 2027.A stent is a medical device which is inserted into the internal duct of the body for expanding the blood vessels and preventing the vessels from blockage. Bioabsorbable stents, also known as bioresorbable stents or naturally-dissolving stents, are made up of materials that get absorbed in the body and act by expanding the vessels or internal duct for clearing the blockage caused due to the deposition of plague. These devices are designed in such a way that after eluting the drug, the stents gets dissolved within the body at certain interval of time.
Growth of the global bioabsorbable stents market is majorly driven by increase in prevalence of heart diseases, rise in geriatric population, surge in percutaneous coronary intervention (PCI) procedure, rise in adaptation of bioabsorbable stent by patients and physician, advancement in technology in stents, and growth in demand for minimally invasive procedures. For instance, according to the Centers for Disease Control and Prevention (CDC), the global wide prevalence of coronary heart diseases in 2017 was around 18.2 million individuals and approximately 2 in 10 people died due to coronary heart disease. Moreover, Arterius Limited, in April 2019, collaborated with Translational Biomedical Research Centre for the development of new bioabsorbable stents to get accurate and reliable results. As per data published by the European Cardiovascular Disease, it was reported that each year, 3.9 million people die due to cardiovascular diseases in Europe and 1.8 million deaths occurred in the European Union. Hence, increase in incidences of heart disease (mostly coronary and peripheral heart disease) is expected to propel the demand for bioabsorbable stents, which, in turn, fosters the market growth. In addition, the unhealthy diet habits and lack of physical activities are gaining traction across the globe, owing to rise in prevalence or cardiovascular diseases and availability of percutaneous coronary intervention (PCI) procedure. For instance, in April 2021, the MicroPort Scientific Corporation launched Castor Branched Stent-Graft system, which has its application for the treatment of aortic arch repair by minimally invasive surgical procedure. As per the latest data by interventional cardiology procedural analysis, in 2020, it was found that around 965,000 angioplasties procedure was performed each year in the U.S.Further, in March 2021, Elixir Medical Corporation, a developer of drug-eluting cardiovascular devices, announced the result of the INFINITY SWEDEHEART randomized controlled trial (RCT) of DynamX Coronary Bioadaptor system. The result states that dynamx Coronary bioadaptor has no target of myocardial infarction or thrombosis through 24 months. Rise in demand for minimally invasive surgical procedure, advancement in technology for innovation of novel bioabsorbable stents and increase in adoption of percutaneous coronary intervention procedure drive the growth of the global market.
Moreover, high costs of stents procedure and risk associated with the use of bioabsorbable stents are anticipated to restrain the market growth during the forecast period. In some cases, due to high risk many players are forced to withdraw their devices from the market, which in turn decreases their revenue for bioabsorbable stents. For instance, in 2017, Abbott and Boston Scientific has withdrawn their products due to high risk factors. Researchers are still working on the drawback of Absorb which develops myocardial infraction and thick strut and aim to develop a novel bioabsorbable stent by overcoming the risk associated with it. Thus, growth in adoption of new technology and rise in activities of R&D in healthcare sector are expected to provide an opportunity for the bioabsorbable stents market growth.
The bioabsorbable stents market is segmented on the basis of biomaterial, application, end user, and region. On the basis of biomaterial, the market is divided into polymeric stents and metallic stents. On the basis of application, the market is bifurcated into coronary artery disease and peripheral artery disease. On the basis of end user, the market is classified into hospital and cardiac centers. On the basis of region, the bioabsorbable stents market is analysed across North America, Europe, Asia-Pacific, and LAMEA.
Growth of the global bioabsorbable stents market is majorly driven by increase in prevalence of heart diseases, rise in geriatric population, surge in percutaneous coronary intervention (PCI) procedure, rise in adaptation of bioabsorbable stent by patients and physician, advancement in technology in stents, and growth in demand for minimally invasive procedures. For instance, according to the Centers for Disease Control and Prevention (CDC), the global wide prevalence of coronary heart diseases in 2017 was around 18.2 million individuals and approximately 2 in 10 people died due to coronary heart disease. Moreover, Arterius Limited, in April 2019, collaborated with Translational Biomedical Research Centre for the development of new bioabsorbable stents to get accurate and reliable results. As per data published by the European Cardiovascular Disease, it was reported that each year, 3.9 million people die due to cardiovascular diseases in Europe and 1.8 million deaths occurred in the European Union. Hence, increase in incidences of heart disease (mostly coronary and peripheral heart disease) is expected to propel the demand for bioabsorbable stents, which, in turn, fosters the market growth. In addition, the unhealthy diet habits and lack of physical activities are gaining traction across the globe, owing to rise in prevalence or cardiovascular diseases and availability of percutaneous coronary intervention (PCI) procedure. For instance, in April 2021, the MicroPort Scientific Corporation launched Castor Branched Stent-Graft system, which has its application for the treatment of aortic arch repair by minimally invasive surgical procedure. As per the latest data by interventional cardiology procedural analysis, in 2020, it was found that around 965,000 angioplasties procedure was performed each year in the U.S.Further, in March 2021, Elixir Medical Corporation, a developer of drug-eluting cardiovascular devices, announced the result of the INFINITY SWEDEHEART randomized controlled trial (RCT) of DynamX Coronary Bioadaptor system. The result states that dynamx Coronary bioadaptor has no target of myocardial infarction or thrombosis through 24 months. Rise in demand for minimally invasive surgical procedure, advancement in technology for innovation of novel bioabsorbable stents and increase in adoption of percutaneous coronary intervention procedure drive the growth of the global market.
Moreover, high costs of stents procedure and risk associated with the use of bioabsorbable stents are anticipated to restrain the market growth during the forecast period. In some cases, due to high risk many players are forced to withdraw their devices from the market, which in turn decreases their revenue for bioabsorbable stents. For instance, in 2017, Abbott and Boston Scientific has withdrawn their products due to high risk factors. Researchers are still working on the drawback of Absorb which develops myocardial infraction and thick strut and aim to develop a novel bioabsorbable stent by overcoming the risk associated with it. Thus, growth in adoption of new technology and rise in activities of R&D in healthcare sector are expected to provide an opportunity for the bioabsorbable stents market growth.
The bioabsorbable stents market is segmented on the basis of biomaterial, application, end user, and region. On the basis of biomaterial, the market is divided into polymeric stents and metallic stents. On the basis of application, the market is bifurcated into coronary artery disease and peripheral artery disease. On the basis of end user, the market is classified into hospital and cardiac centers. On the basis of region, the bioabsorbable stents market is analysed across North America, Europe, Asia-Pacific, and LAMEA.
Key Benefits for Stakeholders
- The report provides an in-depth analysis of the global bioabsorbable stents market size along with the current trends and future estimations to elucidate the imminent investment pockets.
- It offers market analysis from 2020 to 2027, which is expected to enable the stakeholders to capitalize on the prevailing opportunities in the market.
- A comprehensive analysis on region assists to understand the regional market and facilitate the strategic business planning and determine prevailing opportunities.
- The profiles and growth strategies of the
KEY PLAYERS
are thoroughly analyzed to understand the competitive outlook of the global bioabsorbable stents market.
Key Market Segments
By Biomaterial
- Polymeric Stents
- Metallic Stents
By Application
- Coronary Artery Disease
- Peripheral Artery Disease
By End-User
- Hospital
- Cardiac Centers
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Arabia
- South Africa
- Rest of LAMEA
Key market players
- Arterial Remodeling Technologies
- Arterius Limited
- B. Braun Melsungen AG
- Biotronik SE & Co. KG
- Boston Scientific Corporation
- Elixir Medical Corporation
- Microport Scientific Corporation
- Kyoto Medical Planning Co. Ltd.
- Reva Medical, Inc.
- Terumo Corporation
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET LANDSCAPE
CHAPTER 4: BIOABSORBABLE STENTS MARKET, BY BIOMATERIAL
CHAPTER 5: BIOABSORBABLE STENTS MARKET, BY APPLICATION
CHAPTER 6: BIOABSORBABLE STENTS MARKET, BY END USE
CHAPTER 7: BIOABSORBABLE STENTS MARKET, BY REGION
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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