New York, United States, June 21, 2022 (GLOBE NEWSWIRE) -- Bioabsorbable stents are a specific form of a stent that can disintegrate or reabsorb within the body of the patient. Stents come in a variety of sizes, shapes, and materials. These are employed in various therapeutic situations, including esophageal cancer, gall bladder cancer, and cancers of the abdomen and gastrointestinal system. The bioabsorbable stents assist in the restoration of blood flow and provide support to the blood vessel during the healing process. Furthermore, these stents reabsorb or disappear from the treated location on their own after a few days, which offers advantages such as less late-stent thrombosis.
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Rising Geriatric Population and Advanced Technologies Propel the Market
Heart disease is the leading cause of death and morbidity worldwide. Three-quarters of deaths from heart disorders occur in low to middle nations. The rise in the global elderly population is also a significant driver driving the global bioabsorbable stent market, as older people are more prone to cardiovascular disease. Since aging causes changes in the blood vessels present in the heart, people over the age of 65 are more likely to acquire coronary artery disease than younger people. As a result, the rising frequency of heart illness, combined with an aging population, is driving up the need for bioabsorbable stents.
Physicians employ the latest devices to perform cardiac surgery on patients, such as percutaneous coronary intervention (PCI) operations. Several newer technologies are gaining traction and being utilized by various healthcare practitioners. With the help of bioabsorbable stents, correct blood flow will be restored, and blood will gradually be reabsorbed in the body, allowing for natural restoration of vascular function and repair of artery walls. Bioabsorbable stents decrease the risk of many procedures such as acute and sub-acute elastic recoil, intimal hyperplasia and adverse vascular remodeling, and balloon angioplasty coronary dissections. As a result of these technological breakthroughs in bioabsorbable stents, the market is projected to expand.
Need for Non-Invasive Approach and Improving Health Infrastructure Spur the Market
The global market is expected to develop due to the rising need for minimally invasive surgical procedures and increased usage of percutaneous coronary intervention procedures. A minimally invasive surgical procedure is one in which a little incision replaces a large hole. Percutaneous coronary intervention is a minimally invasive surgical treatment in which angioplasty is performed, and bioabsorbable stents are implanted in the patient's body. Furthermore, by 2026, the incidence of percutaneous coronary intervention (PCI) treatments is anticipated to reach one million. As a result, the demand for percutaneous coronary intervention (PCI), a less invasive technique, is booming.
The global market is growing due to an increase in investment and activity in R&D by various medical fields to discover and develop new solutions for bioabsorbable stents with precision and rapid response. Investment in the R&D sector is a venture strategy for generating unique products and long-term company and development growth. According to the United Nations Educational, Scientific, and Cultural Organization (UNESCO) data, global R&D investment has surpassed USD 1.7 trillion, with around ten countries accounting for 80% of the total. The market is expected to rise during the projected period due to government regulations governing the design and deployment of sophisticated stents, including bioabsorbable stents.
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Regional Analysis of the Global Bioabsorbable Stents Market
North America is anticipated to hold the largest market share of USD 153 million by 2030 at a CAGR of 5.7% during the forecast period. Developments in technology and research in North America for bioabsorbable stents and an increase in the proportion of elderly patients with coronary artery disease and pulmonary disease will increase the market for bioabsorbable stents in the years to come. Asia-Pacific is the second contributor to the bioabsorbable stents market because of an increase in the number of people leading sedentary lifestyles, an increase in the prevalence of coronary artery disease, and progress made in the healthcare industry. Asia-Pacific is anticipated to be worth USD 120 million at a CAGR of 6.7% during the forecast period.
The bioabsorbable stents market in Europe is expected to witness steady growth, with a value of USD 40 million in 2021. The growing incidence of coronary artery disease and peripheral vascular disease, as well as the adoption of unhealthy lifestyle choices, the increase in the geriatric population, the increase in the number of approvals for bioabsorbable stents, the presence of advanced healthcare infrastructure, and the surge in the number of approvals for bioabsorbable stents, are all major factors driving the market forward. LAMEA has the lowest market. In 2021, the market revenue was valued at USD 18 million, with Brazil being their major contributor. Firms' extensive Research and development spending resulted in technological breakthroughs, which boosted the multi-functionality, simplicity of use, and scalability of bioabsorbable stents, resulting in market expansion.
Key Highlights
- The global bioabsorbable stents market was valued at USD 216 million in 2021. It is anticipated to generate USD 365 million by 2030, growing at a CAGR of 5.95% during the forecast period (2022–2030).
- Based on the types of biomaterials used, the two subsegments are polymeric stent and metallic stent. The polymeric stent is the major shareholder in the global bioabsorbable stents market. It is projected to generate USD 194 million at a CAGR of 5.4% by 2030.
- Application-wise, the most significant share of the market is held by coronary artery disease. The global market for coronary artery disease is projected to generate USD 278 million at a CAGR of 6.7% by 2030.
- The bioabsorbable stents market is segmented as hospitals and cardiac centers based on the end-users. The global market for the hospital is projected to generate USD 330 million at a CAGR of 6.2% by 2030.
- Geographically, the market is divided into North America, Europe, Asia-Pacific, and LAMEA. The market in North America is expected to be valued at USD 153 million at a CAGR of 5.7% during the forecast period.
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Competitive Players in the Global Bioabsorbable Stents Market
The key players in the Global Bioabsorbable Stents Market are
- Arterial Remodeling Technologies
- Arterius Limited
- B. Braun Melsungen AG
- Biotronik SE & Co.KG, Boston Scientific Corporation
- Elixir Medical Corporation
- Kyoto Medical Planning Co. Ltd
- Microport Scientific Corporation
- Reva Medical Inc.
- Terumo Corporation.
Global Bioabsorbable Stents Market: Segmentation
By Biomaterial
- Polymeric Stents
- Metallic Stents
By Application
- Coronary Artery Disease
- Peripheral Artery Disease
By End-User
- Hospitals
- Cardiac Centers
By Regions
- North America
- Europe
- Asia-Pacific
- LAMEA
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TABLE OF CONTENT
1 Introduction
1.1 Market Definition
1.2 Market Scope
2 Research Methodology
2.1 Primary Research
2.2 Research Methodology
2.3 Assumptions & Exclusions
2.4 Secondary Data Sources
3 Executive Summary
4 Market Overview
4.1 Report Segmentation & Scope
4.2 Value Chain Analysis: Bioabsorbable Stents Market
4.2.1 Vendor Matrix
4.3 Key Market Trends
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Environment & Regulatory Landscape
4.6 Forecast Factors & Relevance of Impact
4.7 Macro-Economic & Geopolitical Scenario
4.8 Parent Market Overview
4.9 Technology Landscape
4.10 Market Share Analysis
4.11 Potential Venture Analysis
4.12 Regional Price Trends
4.13 Raw Material Trends
4.14 Cost Structure Analysis
4.14.1 Labor Cost
4.14.2 Consumables
4.14.3 Maintenance Cost
4.15 Covid-19 Impact Analysis:
4.15.1 Pre and Post Covid-19 Market Scenario Analysis
4.15.2 Market Recovery Timeline and Challenge
4.15.3 Measures Taken by Top Players
4.15.4 Quarterly Market Revenue and Growth Forecast till 2021
4.15.4.1 North America
4.15.4.2 Europe
4.15.4.3 Asia-Pacific
4.15.4.4 Central and South America and the Caribbean
4.15.4.5 The Middle East and Africa
5 Biomaterial Overview
5.1 Introduction
5.1.1 Market Size & Forecast (Value & Volume)
5.2 Polymeric Stents
5.2.1 Market Size & Forecast (Value & Volume)
5.3 Metallic Stents
5.3.1 Market Size & Forecast (Value & Volume)
6 Application Overview
6.1 Introduction
6.1.1 Market Size & Forecast (Value & Volume)
6.2 Coronary Artery Disease
6.2.1 Market Size & Forecast (Value & Volume)
6.3 Peripheral Artery Disease
6.3.1 Market Size & Forecast (Value & Volume)
7 End User Overview
7.1 Introduction
7.1.1 Market Size & Forecast (Value & Volume)
7.2 Hospitals
7.2.1 Market Size & Forecast (Value & Volume)
7.3 Cardiac Centers
7.3.1 Market Size & Forecast (Value & Volume)
8 Regional Overview
8.1 Introduction
8.1.1 Market Size & Forecast (Value & Volume)
8.2 North America
8.2.1 Economic Overview
8.2.2 Market Scenario
8.2.3 U.S.
8.2.4 Canada
8.2.5 Mexico
8.3 Central and South America and the Caribbean
8.3.1 Economic Overview
8.3.2 Market Scenario
8.3.3 Brazil
8.3.4 Argentina
8.3.5 Colombia
8.3.6 Rest of Central and South America and the Caribbean
8.4 Europe
8.4.1 Economic Overview
8.4.2 Market Scenario
8.4.3 Germany
8.4.4 France
8.4.5 The U.K.
8.4.6 Italy
8.4.7 The Rest Of Europe
8.5 Asia-Pacific (APAC)
8.5.1 Economic Overview
8.5.2 Market Scenario
8.5.3 China
8.5.4 Japan
8.5.5 India
8.5.6 Australia
8.5.7 South Korea
8.5.8 Rest Of APAC
8.6 Middle East
8.6.1 Economic Overview
8.6.2 Market Scenario
8.6.3 South Arabia
8.6.4 The UAE
8.6.5 Qatar
8.6.6 Oman
8.6.7 Turkey
8.6.8 The Rest Of Middle East
8.7 Africa
8.7.1 Economic Overview
8.7.2 Market Scenario
8.7.3 Nigeria
8.7.4 South Africa
8.7.5 The Rest Of Africa
9 Competitive Landscape — Manufacturers & Suppliers
9.1 Competition Dashboard
9.2 Industry Structure
9.3 Arterial Remodeling Technologies
9.3.1 Business Overview
9.3.2 Financial Performance
9.3.3 Recent Developments
9.3.4 Portfolio
9.4 Arterius Limited
9.5 B. Braun Melsungen AG
9.6 Biotronik SE & Co.KG
9.7 Boston Scientific Corporation
9.8 Elixir Medical Corporation
9.9 Kyoto Medical Planning Co. Ltd
9.10 Microport Scientific Corporation
9.11 Reva Medical Inc.
9.12 Terumo Corporation
10 Conclusion & Recommendation
11 Acronyms & Abbreviations
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Market News
- In April 2021, MicroPort launched the Castor Branched Stent-Graft system in Italy, which is used for aortic arch repair by minimally invasive treatment.
- In March 2021, B Braun collaborated with Infrared to accelerate the clinical trial of SeQurnt Pleases Rex and utilize both It resources for clinical expertise and financial resources.
- In March 2021, Elixir Medical announced the INFINITY SWEDEHEART randomized controlled trial (RCT) of the DynamX Coronary Bioadaptor system, the first coronary artery implant to adopt vessel physiology.
- In September 2020, Terumo launched the TREO abdominal stent graft system to increase its product portfolio to treat a patient suffering from abdominal aortic aneurysms.
- In June 2020, BIOTRONIK was awarded a group purchasing contract from Vizient to enhance and access biotronik vascular intervention solutions like bare-metal stents, increasing its business segments.
News Media
Biodegradable Stents Market: Future of Angioplasty
High Prevalence of Chronic Diseases is Surge Demand of Occlusion Devices Market
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