Bioabsorbable Stents Market Overview:
The global bioabsorbable stents market size 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.
Increase in geriatric population, rise in prevalence of cardiovascular disease, surge in percutaneous coronary intervention (PCI) procedure, and rise in adaptation of bioabsorbable stent by patients and physicians are the key factors that drive the growth of the global bioabsorbable stents market. In addition advancement in technology in stents, growth in demand for minimally invasive procedures, and increase in initiative taken by government for development & production of bioabsorbable stents propel the growth of the market. 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. 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. However, high costs of stents procedure and risk associated with the use of bioabsorbable stents are expected to hinder the growth of the market.
Bioabsorbable Stents Market Segmentation
The bioabsorbable stents market is segmented into biomaterial, application, end user, and region. By biomaterial, the market is divided into polymeric stents and metallic stents. By application, the market is bifurcated into coronary artery disease and peripheral artery disease. By end user, the market is classified into hospital and cardiac centers. By region, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Spain, Italy, Russia, and rest of Europe), Asia-Pacific (Japan, China, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
Segment review
By type of biomaterial, the polymeric stents segment dominated the global bioabsorbable stents market in 2019, and is anticipated to continue this trend during the forecast period, due to increase in use of polymeric stents by various companies, physicians, and patients owing to less inflammatory response, complete drug elution, and low risk of associated complications. Research is still conducted on polymeric stent materials for the development of the novel bioabsorbable stents, which possess low risk for restenosis and late-stent thrombosis. However, the metallic stents segment is expected to witness considerable growth during the forecast period. This is attributed to the fact that the metallic stents represent an alternative solution used for the percutaneous nephrostomy procedure.
By Biomaterial
Polymeric Stents segment held a dominant position in 2019 and would continue to maintain the lead over the forecast period.
On the basis of application, the coronary artery disease segment exhibited highest growth in 2019, and is anticipated to lead in the near future. This is attributed to the rise in geriatric population, increase in prevalence of diabetes, change in healthy diet, and lack of proper physical exercise. However, peripheral artery disease segment is expected to witness considerable growth during the forecast period, due to rise in the aging population and increase in prevalence of cardiac disease.
By Application
Coronary Artery Disease segment is projected as one of the most lucrative segment.
On the basis of end user, the hospital segment exhibited highest growth in 2019, and is anticipated to lead in the near future, due to increase in prevalence of cardiac diseases and availability of multiple options for treatment procedures. However, the cardiac centers segment is expected to witness the significant bioabsorbable stents market growth during the forecast period, owing to rise in prevalence of coronary artery disease, decrease in the cost of post-operative cardiac care, and increase in the life expectancy of the patient suffering from cardiac disease.
By End User
Hospital segment segment held a dominant position in 2019 and would continue to maintain the lead over the forecast period.
By region, North America accounted for a major share in the bioabsorbable stents market in 2019, and is expected to maintain its dominance during the forecast period, owing to rise in prevalence of cardiovascular disease, the presence of advanced healthcare infrastructure, increase in number of approval for novel bioabsorbable stents, as well as presence of major market participants. Moreover, increase in the prevalence of coronary artery disease, rise in the coronary artery disease patient pool in hospitals, surge in R&D activities in healthcare sector, and enhancement of healthcare infrastructure and presence of major players operating in the region fuel the growth of the market. However, Asia-Pacific is expected to register the highest CAGR of 6.3% from 2020 to 2027, owing to increase in prevalence of coronary artery disease, rise in awareness regarding bioabsorbable stents, surge in demand for minimally invasive surgery, and increase in adoption of unhealthy lifestyle.
By Region
North America was holding a dominant position in 2019 and would continue to maintain the lead over the analysis period.
The key players operating in the global bioabsorbable stents market include Arterial Remodeling Technologies, Arterius Limited, B. Braun Melsungen AG, Biotronik SE & Co. KG, Boston Scientific Corporation, the Elixir Medical Corporation, Microport Scientific Corporation, Kyoto Medical Planning Co. Ltd., Reva Medical, and Terumo Corporation
Key Benefits For Stakeholders
- The study provides an in-depth analysis of the Bioabsorbable Stents market, and the current trends and future estimations to elucidate the imminent investment pockets.
- It presents a quantitative analysis of the market from 2019 to 2027 to enable stakeholders to capitalize on the prevailing bioabsorbable stents market opportunities.
- Extensive analysis of the market based on procedures and services assists to understand the trends in the bioabsorbable stents industry.
- Key players and their strategies are thoroughly analyzed to understand the competitive outlook of the 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
Bioabsorbable Stents Market Report Highlights
| Aspects | Details |
 By BIOMATERIAL |
|
 By APPLICATION |
|
 By END USE |
|
 By Region |
|
 Key Market Players | BIOTRONIK SE & CO. KG, B. BRAUN MELSUNGEN AG, MICROPORT SCIENTIFIC CORPORATION, ELIXIR MEDICAL CORPORATION, KYOTO MEDICAL PLANNING CO. LTD, REVA MEDICAL, INC., BOSTON SCIENTIFIC CORPORATION, ARTERIAL REMODELING TECHNOLOGIES, TERUMO CORPORATION, ARTERIUS LIMITED |
Analyst Review
The bioabsorbable stents market is expected to witness profitable growth in the future. The market growth is characterized by factors such as increase in prevalence of heart diseases, surge in geriatric population, rise in Percutaneous Coronary Intervention (PCI) procedure, surge in adaptation of bioabsorbable stent by patients and physicians, advancement in technology in stents and growth in demand for minimally invasive procedures. Moreover, the bioabsorbable stents market has gained immense interest in the hospital sectors over the years as the stents are used for the treatment of cardiac diseases such as coronary artery disease and peripheral artery disease.
As per the analysis in the report, the market in North America is projected to register highest growth rate, owing to rise in prevalence of cardiac disorder, growth in demand for minimally invasive procedure, and increase in geriatric population.
In addition, high costs of stents procedure and risks associated with the use of bioabsorbable stents are anticipated to challenge the growth of the market participants during the forecast period. The bioabsorbable stents may produce some side effects like thrombosis or myocardial infarction, which is due to the non-uniform structure of polymer used in the stents. Thus, these concerns regarding the wellbeing of health are anticipated to limit the market growth during the forecast period.
The total market value of global bioabsorbable stents Market is $283.60 million in 2019
The forecast period in the report is from 2020 to 2027
The market value of global bioabsorbable stents Market in 2020 was $211.30 Million
The base year for the report is 2019
Yes, global bioabsorbable stents companies are profiled in the report
The top companies that hold the market share in global bioabsorbable stents market are Arterial Remodeling Technologies, Arterius Limited, B. Braun Melsungen AG, Biotronik SE & Co. KG, Boston Scientific Corporation, the Elixir Medical Corporation, Microport Scientific Corporation, Kyoto Medical Planning Co. Ltd., and Terumo Corporation
The biomaterials is the most inflencing segment growing in the global bioabsorbable stents market report.
The key trends in the global bioabsorbable market are increase Increase in prevalence of heart diseases, surge in percutaneous coronary intervention (PCI) procedure and rise in adaptation of bioabsorbable stent by patients and physician
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