2019 Bioabsorbable Stents Market Outlook by Market Size, Business Plans | Growth Rate by Top Key Players and Regions Forecast to 2024

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Bioabsorbable Stents

This “Bioabsorbable Stents Market” report provides a detailed study on market and how it is impacting the industry. The report includes details of emerging trends, growth history, sales channel, manufacturers profiled in business, market share of product, application and regional scope of industry. In addition, the report also mentions opportunities that manufacturers operating in the global Bioabsorbable Stents market can use for expanding their business in untapped market to increase their customer base.

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Market Overview:

  • The global bioabsorbable stents market was valued at USD 112.14 million in 2018, and is estimated to be valued at USD 183.28 million in 2024, witnessing a CAGR of 8.53%. Factors that are driving the market include a high prevalence of cardiovascular diseases, steep increase in the aging population, and the expanding base of the obese population.
  • As per the report of the World Health Organization (WHO), it is seen that the number one cause of death across the world is cardiovascular disease. Furthermore, the WHO has estimated that in 2016, approximately 17.9 million people died due to cardiovascular diseases (CVDs) which represents 31% of the total global deaths, and 85% of these deaths were due to heart attack and stroke. As reported by the Australian Heart Foundation, cardiovascular disease (CVD) is a major cause of death in Australia, with 43,477 deaths being attributed to CVD in Australia in 2017. Cardiovascular disease kills one Australian every 12 minutes. Hence, this global rise in the prevalence of CVD is expected to fuel the market growth.

    Bioabsorbable Stents Market Covers Manufacturers:

  • Boston Scientific Corporation
  • Arterius Limited
  • Elixir Medical Corporation
  • Kyoto Medical Planning Co. Ltd
  • Terumo Corporation
  • Abbott Laboratories Inc.
  • Amaranth Medical
  • Biotronik
  • Meril Life Sciences Pvt. Ltd
  • Reva Medical

    Scope of the Report:

  • According to the report, the polymer-based or metal-based stents dissolve or get absorbed in the body, and are expected to overcome complications and risks associated with metallic stents.

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    Key Market Trends:

    Polymer-based Bioabsorbable Stents Sub-segment is Expected to hold its Highest Market Share in the Product Type Segment

    In the product type segment of the market, polymer-based bioabsorbable stents are believed to have the largest market size and are expected to witness a CAGR of 8.95% in the forecast period.

    Bioabsorbable stents (BAS)/polymer-based bioabsorbable stents are made of the materials that can completely dissolve or be absorbed in the body. These are used both in peripheral and coronary artery disease. Most of the bioabsorbable stents are made of polylactic acid that is a naturally dissolvable material. However, the polymer materials, such as polycarbonates, polyesters, corrodible metals, and bacterial-derived polymers are under investigation for developing the next-generation bioabsorbable stents. The risk of the in-stent restenosis using drug-eluting and metallic stents (DES) has raised the need for bioabsorbable stents. The BAS has a low rate of late-stent thrombosis (LST) and restenosis, which led to the acceptance of BAS for clinical purposes. The product Absorb GT1 Bioresorbable Vascular Scaffold System (BVS) from Abbott was the first absorbable stent for coronary artery disease that received FDA in 2016, and was commercially available in Europe from 2011. However, on September 14, 2017, Abbott announced the end of sales of the Absorb bioresorbable vascular scaffold, due to poor sales and safety concerns, which led to a strong negative impact on the market. However, owing to the increased significance of the same, this sub-segment is expected to register substantial growth in the coming future.

    Europe Dominates the Market and is Expected to do the Same in the Forecast Period

    Europe currently dominates the market for bioabsorbable stents and is expected to continue its stronghold for a few more years. This region is expected to increase its market share in the future, owing to the increased usage of bioabsorbable stents. There is a rise in the usage because the region has a large number of people suffering from cardiovascular diseases and there is a huge demand for technologically advanced treatment options for the same.

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    Target Audience of Bioabsorbable Stents Market:

    • Manufacturer / Potential Investors
    • Traders, Distributors, Wholesalers, Retailers, Importers and Exporters.
    • Association and government bodies.

    Key Reasons to Bioabsorbable Stents Market Report:

    • Analyzing various perspectives of the Bioabsorbable Stents market with the help of Porter’s five forces analysis
    • The End User that is expected to dominate the Bioabsorbable Stents market is analyzed in detail
    • The regions which are expected to witness fastest growth during the forecast period are analyzed and estimated for growth of Bioabsorbable Stents market.
    • Identify the latest developments, market shares and strategies employed by the major market players.
    • Regional analysis of Bioabsorbable Stents market studied, during the forecast period
    • The segments that are expected to dominate the Bioabsorbable Stents market studied.

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