The global bioabsorbable stentsmarket size reached US$ 379.1 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 620.2 Million by 2028, exhibiting a growth rate (CAGR) of 8% during 2023-2028.
Bioabsorbable stents (BRS) are coated with an antiproliferative drug or gene that dissolves over time to restore vessel patency and permit remodeling while retaining recoil. It helps in regulating blood flow at branch points and limiting the amount of blood to areas of the vascular network while maintaining the flow at low perfusion. It also improves lesion imaging with cardiac computed tomography (CT) and magnetic resonance imaging (MRI). In addition, it leaves no residual scaffold, reduces vessel irritation and inflammation, and facilitates repeat treatments to the same site. As a result, BRS finds extensive applications in hospitals and cardiac centers across the globe.
Bioabsorbable Stents Market Trends:
The growing prevalence of cardiovascular diseases due to an unhealthy diet, physical inactivity, and excessive consumption of tobacco and alcohol represents one of the factors driving the market. Moreover, there is a rise in the utilization of percutaneous coronary intervention (PCI) procedures to open a blocked artery for carrying oxygen-rich blood through the body. This, along with the expanding healthcare industry, is contributing to the growth of the market. Besides this, the increasing awareness among the masses about the benefits of bioabsorbable stents is offering lucrative growth opportunities to industry investors. In addition, the growing demand for minimally invasive procedures due to less postoperative pain, fewer operative and postoperative complications, shortened hospital stay, and faster recovery times is positively influencing the market. Apart from this, key market players are extensively investing in research and development (R&D) activities to introduce SLENDER integrated delivery system (IDS) fixed-wire and DIRECT RX bioabsorbable rapid-exchange drug-eluting stent (DES) systems to treat coronary artery disease. They are also focusing on developing polymer-based stents, which is expected to bolster the growth of the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global bioabsorbable stentsmarket report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on biomaterial, absorption rate, application and end user.
The competitive landscape of the industry has also been examined along with the profiles of the key players being Abbott Laboratories, Arterius Limited, B. Braun SE, Biotronik SE & Co. KG, Boston Scientific Corporation, Elixir Medical Corporation, Kyoto Medical Planning Co. Ltd., Lepu Medical Technology (Beijing) Co. Ltd., Meril Life Sciences Pvt. Ltd., Reva Medical LLC and Terumo Corporation.
Base Year of the Analysis
Biomaterial, Absorption Rate, Application, End User, Region
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Abbott Laboratories, Arterius Limited, B. Braun SE, Biotronik SE & Co. KG, Boston Scientific Corporation, Elixir Medical Corporation, Kyoto Medical Planning Co. Ltd., Lepu Medical Technology (Beijing) Co. Ltd., Meril Life Sciences Pvt. Ltd., Reva Medical LLC and Terumo Corporation
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Key Questions Answered in This Report
The global bioabsorbable stents market was valued at US$ 379.1 Million in 2022.
We expect the global bioabsorbable stents market to exhibit a CAGR of 8% during 2023-2028.
The rising prevalence of cardiovascular diseases, along with the increasing adoption of bioabsorbable stents in hospitals, as they facilitate repeat treatments to the same site, is primarily driving the global bioabsorbable stents market.
The sudden outbreak of the COVID-19 pandemic had led to the postponement of numerous elective cardiological treatment procedures to reduce the risk of the coronavirus infection upon hospital visits or interaction with healthcare professionals or medical equipment, thereby negatively impacting the global market for bioabsorbable stents.
Based on the biomaterial, the global bioabsorbable stents market has been divided into polymer-based bioabsorbable stents and metal-based bioabsorbable stents, where polymer-based bioabsorbable stents exhibit a clear dominance in the market.
Based on the absorption rate, the global bioabsorbable stents market can be categorized into slow-absorption stents and fast-absorption stents. Currently, slow-absorption stents hold the majority of the total market share.
Based on the application, the global bioabsorbable stents market has been segregated into coronary artery disease and peripheral artery disease, where coronary artery disease currently exhibits a clear dominance in the market.
Based on the end user, the global bioabsorbable stents market can be bifurcated into hospitals and cardiac centers. Currently, hospitals account for the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global bioabsorbable stents market include Abbott Laboratories, Arterius Limited, B. Braun SE, Biotronik SE & Co. KG, Boston Scientific Corporation, Elixir Medical Corporation, Kyoto Medical Planning Co. Ltd., Lepu Medical Technology (Beijing) Co. Ltd., Meril Life Sciences Pvt. Ltd., Reva Medical LLC, and Terumo Corporation.
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