Bioabsorbable Stents Market 2022 Recent Developments, Segmented Data, and Analysis of Commercial Operation Data by 2030
According to the Market Statsville Group (MSG), the global bioabsorbable stents market size was estimated at 228.5 million USD in 2021 and should reach 352.5 million USD by 2030, save a 5.6% CAGR from 2022 to 2030. The growth of the global bioabsorbable stents market is primarily driven by an increase in the prevalence of heart disease, increase in geriatric population, increase in percutaneous coronary intervention (PCI) procedure, increase in stent fitting bioabsorbable by patients and physicians, the advancement of stent technology, and the growth in demand for minimally invasive procedures. For example, according to the Centers for Disease Control and Prevention (CDC), the global prevalence of coronary heart disease in 2017 was approximately 18.2 million individuals, and approximately 2 in 10 people died from coronary heart disease. .
Hence, an increase in the incidence of heart disease (primarily coronary and peripheral heart disease) is expected to propel the demand for bioabsorbable stents, which in turn will drive the market growth. Additionally, unhealthy eating habits and lack of physical activities are gaining ground worldwide, due to the increasing prevalence of cardiovascular diseases and the availability of percutaneous coronary intervention (PCI) procedures.
Additionally, the high costs of the stent procedure and the risk associated with the use of bioabsorbable stents are expected to restrain the market growth over the forecast period. In some cases, due to the fact that many high-risk players are forced to withdraw their devices from the market, which decreases their revenue for bioabsorbable stents.
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Global Bioabsorbable Stents Market Definition
A stent is a medical device inserted into the internal duct of the body to dilate blood vessels and prevent vessels from becoming blocked. Bioabsorbable stentsalso known as bioabsorbable stents or naturally dissolving stents, are made of materials that are absorbed by the body and work by dilating the vessels or internal duct to remove blockage caused by plague deposition.
Global Bioabsorbable Stents Market Dynamics
Drivers: Increase in demand for the minimally invasive procedure
Rising demand for minimally invasive surgical procedures and increasing adoption of percutaneous coronary intervention procedures are driving the growth of the global market. Minimally invasive surgery is a surgical process in which a small incision is made in place of a large opening. Percutaneous coronary intervention is a minimally invasive surgical procedure in which a surgeon performs angioplasty and implants bioabsorbable stents into the patient’s body. For example, in April 2021, the MicroPort Scientific Corporation launched the Castor Branched Stent-Graft System, which has its application for the treatment of aortic arch repair through a minimally invasive surgical procedure.
Constraints: Risk associated with bioabsorbable stents
Occasionally, bioabsorbable stents may produce side effects. Companies involved in the production of bioresorbable stents are being forced to withdraw their product due to the high risk associated with the device. For example, in 2017, Abbott removed Absorb globally, due to its risk of myocardial infarction and thick spacer.
The risk is due to the non-uniform structure of the polymer, which has been used in the stents and which has caused disturbance in the flow of the device. Hence, these risk concerns may negatively impact the growth of the market over the forecast period.
Opportunities: Increase in R&D and technological advances
Intertwined with the concepts of emerging technologies with the ramping up of R&D investments, treatments for coronary heart disease and peripheral arterial disease offer high precision and provide precise answers. The concept of bioresorbable stents has emerged over the past 20 years. However, there are still many challenges when developing a bioabsorbable stent with radial strength for an appropriate duration, and reabsorption should produce no inflammatory response. After the first bioabsorbable stent was withdrawn from the market in 2017, Abbott continued its research. In 2020, he proposed the launch of the Esprit BTK bioabsorbable stents used to resist vessel recoil and provide a drug delivery system.
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Segmentation of the global bioabsorbable stents market
The study categorizes the bioabsorbable stents market based on biomaterial, application, end users, and region..
By Biomaterials Perspectives (RevenueUSD million, 2017–2030)
- Polymer stents
- metal stents
By Outlook app (Revenue, USD million, 2017–2030)
- coronary artery disease
- Peripheral artery disease
From End User Perspectives (Revenue, USD million, 2017–2030)
Outlook by region (Revenue, USD million, 2017–2030)
- North America
- the Netherlands
- Czech Republic
- The rest of Europe
- Asia Pacific
- South Korea
- The Philippines
- Australia and New Zealand
- Rest of Asia-Pacific
- South America
- Rest of South America
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- South Africa
- North Africa
- Rest of MEA
Polymer stents, by biomaterial, held the largest market share
In 2021, polymer stents held the largest market share of 65% in the global bioabsorbable stents market. Polymer stents use polymeric materials such as poly-L-lactic acid, polyglycolic acid, polycarbonate, polyesters, polymers derived from bacteria, and polycaprolactone, which completely dissolve and are absorbed by the body.
Polymer stents are one of the newest and most common methods for percutaneous coronary intervention (PCI) procedures. The biodegradable polymer shows promising results in different medical applications. The polymers are incorporated into the stents and act as a drug coating delivery vehicle. Poly-L-lactic acid (PLLA) was the first polymeric material used to make bioabsorbable stents. Polymer stents are one of the newest and standard methods for the percutaneous coronary intervention (PCI) procedure. The biodegradable polymer shows promising results in different medical applications. The polymers are incorporated into the stents and act as a drug coating delivery vehicle. Poly-L-lactic acid (PLLA) was the first polymeric material used to make bioabsorbable stents.
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Asia Pacific represents the highest CAGR over the forecast period
On the basis of regions, the global bioabsorbable stents market has been segmented into North America, Asia–Pacific, Europe, South America, Middle East and Africa. Globally, Asia Pacific is estimated to hold the highest CAGR of 6.3% in the global bioabsorbable stents market during the forecast period. Asia-Pacific is expected to witness considerable market growth over the forecast period owing to an increase in prevalence of coronary heart disease, increase in adoption of sedentary lifestyle and development of the health sector. For example, according to the United Nations Population Fund (UNFPA), the geriatric population in Asia-Pacific is expected to triple to 1.3 billion by 2050.
An increase in the prevalence of coronary heart disease, increase in the geriatric population, and a surge in the development of the healthcare sector are the major factors contributing significantly to the growth of the market. According to Statista, in 2018, it was reported that 28% of men and 19% of women suffered from high blood pressure in Japan. According to data published in Medicine, 47% of patients with high blood pressure have also been diagnosed with coronary heart disease.
Key Market Players in Global Bioabsorbable Stents Market
The best winning strategies are analyzed by thoroughly studying the major Bioresorbable Stents market players. A comprehensive analysis of recent developments and growth charts of various companies has helped us to understand their growth strategies and potential effect on the market. Companies are rated based on annual reports, SEC filings, and press releases.
The main competitors of the bioresorbable stent on the market are:
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