A research study titled, “Bioabsorbable Stents Market by Biomaterial, Application, and End User - Global Industry Analysis and Forecast to 2025” published by Crystal Market Research, states that the bioabsorbable stents market is projected to be around $8 billion by 2025.
Cardiovascular disorders majorly affect the geriatric population worldwide. These people are more vulnerable to heart related ailments such as strokes and cardiac arrests. Bioabsorbable stents offer more benefits as compared to traditional stents in applications such as angioplasty and peripheral artery related disorders. Bioabsorbable implants outperform with respect to traditional stents which remain as permanent foreign bodies inside the artery after their intended use. Such prolonged stay may result in mechanical blockages or late restenosis. Therefore, rise in adoption of bioabsorbable stents globally will drive the growth of this market over the forecast period.
Polymeric stents are widely used in treating cardiovascular diseases. By using bioabsorbable polymeric coating, thrombotic event can be considerably reduced. It can also eliminate the need for extended dual anti platelet therapy. Poly-L-Lactic is one of the polymers used in polymeric stents which breaks down the lactic acid into natural metabolites. Later it converts into water and metabolized carbon dioxide. Magnesium bioabsorbable stent is the most widely used metallic stent for management of cardiac diseases. Solubility is one of the major determining factors for using metal alloys in metallic stents.
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Coronary artery disease market will exhibit the fastest growth over the forecast period as they have crucial applications in the treatment of coronary artery disorders. These diseases may escalate to heart attacks in certain cases. Peripheral artery diseases can be attributed to narrowing of the peripheral arteries to the arms, legs, and stomach. Atherosclerosis is one of the prime reasons for the induction of peripheral artery diseases. If left untreated, these diseases can lead to gangrene requiring amputation of the body part.
North America held the major share of the bioabsorbable stents market in 2016 with the U.S. representing the largest market, followed by Canada. Sedentary lifestyle habits of people have resulted in rise of cardiovascular disorders in the region. Rising awareness about the utility of bioabsorbable stents for treating coronary diseases along with technological advancements in these stents have contributed to the growth of this regional market. For instance, in 2016, Abbott obtained FDA approval for its Absorb bioabsorbable stent, which is the only fully dissolvable stent approved for the treatment of coronary artery disorders. Asia-Pacific market is anticipated to show a higher growth rate over the forecast period with the improving healthcare infrastructure in emerging nations as well as growing disposable income of people.
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The leading companies in bioabsorbable stents market focus on collaborations and agreements to ensure and further enhance their share in the market. Some key players in bioabsorbable stents market are Biotronik, Medtronic plc, Kyoto Medical Planning. Co. Ltd, Reva Medical, Microport Scientific Corporation, Elixir Medical Corporation, Terumo Europe NV, and Boston Scientific corporation.
Key Findings of the Research Study:
· Polymeric bioabsorbable stents are widely used in treating cardiovascular diseases which can reduce the chances of thrombotic events.
· Coronary artery disease market is a promising segment expected to show high growth rate from 2017 to 2025, as bioabsorbable stents play crucial role in the treatment of coronary artery diseases.
· North America was the largest bioabsorbable stents market for in 2016, due to consistent technological advancements in these stents due to developed healthcare infrastructure.
· Asia-Pacific market will exhibit a high CAGR during the forecast period, due to presence of high unmet medical needs, rising disposable income of patients, and the constantly improving healthcare infrastructure.
· Japan accounted for the major share of the Asia-Pacific market in 2016, while China is projected to be the fastest growing country over the forecast period.
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About Crystal Market Research
Crystal Market Research is a U.S. based market research and business intelligence company. Crystal offers one stop solution for market research, business intelligence, and consulting services to help clients make more informed decisions. It provides both syndicated as well as customized research studies for its customers spread across the globe. The company offers market intelligence reports across a broad range of industries including healthcare, chemicals & materials, technology, automotive, and energy.
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