Industry Trend Analysis
Bioabsorbable stents market is expected to reach to $8 billion by 2025. This market growth is primarily attributed to the growing number of cardiovascular surgeries worldwide and offering more benefits when compared with other stents. Moreover, rapidly aging population which is more prone to strokes and needs a stent implant for treatment is set to further drive the market growth. While these stents are currently used in typical blockage cases, experts believe that market will disrupt once these stents are evolved to last longer and applied in more complicated procedures. The potential also lies in the peripheral artery problems where traditional stents have not shown promising results. Also, patients undergoing angioplasty have a high risk of restenosis where bioabsorbale stents prove to be helpful. Increase adoption rate of these devices will further drive this market. However, high complication risk and slow adoption for disease management can slow down the bioabsorbable stents market.
Product Outlook and Trend Analysis
Polymeric stents have wide applications in cardiovascular devices. Different types of polymers that are used in these stents are polyglycolic acid, polycaprolactone and poly-L-lactic acid. In metallic stents, magnesium bioabsorbable stents are the most commonly used stents in disease management. These have a considerably lower degradation time as compared to other types of metallic stents.
Application Outlook and Trend Analysis
Coronary artery disease market is expected to have the highest growth rate during the forecast period. These are used for treating coronary artery disease which could lead to a cardiac arrest. Peripheral artery diseases arise when arteries in the limbs are narrowed which reduces the flow of blood through the limbs leading to leg pain and skin ulcers. Diabetes is one of the prime causes for peripheral artery diseases.
Regional Outlook and Trend Analysis
North America dominates the global market for bioabsorbable stents due to the rising awareness about the benefits of using bioabsorbable stents for treating coronary ailments. Also, advanced technological innovations in these types of stents are also driving the market growth in this region. In Europe, Germany, Italy, France and UK hold the major share for bioabsorbable stents market.
Asia-Pacific market is expected to witness a high growth rate over the forecast period. Rising awareness about different coronary diseases and rapid adoption of bioabsorbable stents will drive this market growth substantially.
The bioabsorbable stents market is dominated by a few large global players as it requires advanced infrastructure and heavy capital investments. Some of the key players in this market include, Abbott Laboratories Inc., Boston Scientific Corporation, Terumo Europe NV, Biotronik, Elixir Medical Corporation, Medtronic plc, Microport Scientific Corporation, Reva Medical, Inc, Arterial Remodeling Technologies, and Kyoto Medical Planning. Co. Ltd.
Increasing risk of cardiovascular diseases in obese people and increase in cardiovascular surgeries propose a huge scope for bioabsorbable stents market. These stents eliminate the need for dual anti-platelet therapies and increase the efficiency of treatment of coronary artery related disorders. Rising awareness in developing nations will also fuel the market growth over the forecast period. Technological advancements to increase the utility of these stents will improve the value proposition of bioabsorbable stents.
Bioabsorbable Stents Market Segmentation
Peripheral Artery Disease
Coronary Artery Disease
By End User:
Rest of Europe
Rest of Asia Pacific
Rest of the World
United Arab Emirates
Some of the key questions answered by the report are:
What was the market size in 2016 and forecast from 2017 to 2025?
What will be the industry market growth from 2017 to 2025?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?