Bioabsorbable Stents Market Set for Rapid Growth, to reach Value around US$ 253.9 million by 2033
Zion Market Research has published a new report titled “Bioabsorbable Stents Market by Material (Polymer Based Stents and Metallic Stents), by Absorption Rate (Slow- Absorption Stents, and Fast- Absorption Stents), by Application (Coronary Artery Diseases, and Peripheral Artery Diseases), and by End User (Hospitals, Cardiac Centers, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast.
According to The global bioabsorbable stents market size is estimated to clock a valuation of US$ 253.9 million by 2033. Our pharmaceutical experts opine that bioabsorbable stent suppliers can expect a CAGR of 4% through 2033, with a present valuation of US$ 171.8 million in 2023.
Bioabsorbable stents are special type of stents which dissolve or reabsorb within patient body. These stent are implanted in the lumen of a blood vessel to keep the lumens passage open. Bioabsorbable stents are commonly used for the treatment related to abnormalities in the heart like blocked blood vessels. Moreover, these can also be inserted in gall bladder to allow the passage of bile especially in patients suffering from gall bladder cancer. These are also implanted in the in the ureter to prevent obstruction of urine flow from kidney and in the esophagus so as to allow the passage of food in patients suffering from esophageal cancer.
Unhealthy eating habits and lack of necessary physical activities has become a leading cause for the development of cardiovascular diseases. Besides, rising geriatric population base that is more vulnerable to strokes also require stent implant for their treatment, along with the growing adoption rate of these devices, and risk of restenosis in patients undergoing angioplasty are some of the other factors propelling market growth of bioabsorbable stents. Likely, the disappearance of these stents from the treatment site adds several advantages like facilitation of repeat treatments and reduction in late-stent thrombosis. Particularly in pediatrics surgeries bioabsorbable stents do not require surgical removal and also facilitate vessels growth thus further boosting market growth.
The market for bioabsorbable stents is segmented based on absorption rate, material, end user, application, and regions. On the basis of material type the market is segmented into polymer based stents, and metallic stents. The segment for polymer based stent held major share of the market and is also likely to grow at high CAGR in the forecast period as many companies in this market are focusing on the development of polymeric stents. Besides polymer-based stents are getting approvals in various countries. On the basis of absorption rate the market is segmented into fast- absorption stents and slow-absorption stents. The segment for fast-absorption stents is likely to show high growth rate in the forecast period.
On the basis of application the market is segmented into coronary, and peripheral artery diseases. The segment for coronary artery diseases segment held major share of the market in 2018. Unhealthy lifestyle habits and rising geriatric population base are more prone to coronary artery diseases which have propelled the market for this disease segment. Based on end user the market is segmented into hospitals, cardiac centers, and others. The segment for hospitals held major share of the market in 2018 and is also likely to grow at high CAGR in the forecast period owing to rising risk of CAD and PAD, along with improving reimbursement scenario and the rising need of surgeries in the hospitals. Regional segmentation includes the current and forecast demand for Asia Pacific, North America, Latin America, Europe, and Middle East & Africa with its further bifurcation into major countries. Europe and North America held major share of the market due to growing geriatric population base and increased awareness about treatment of coronary ailments. Besides, as per Epidemiological projections, approx. 25 Mn people in these regions suffer from peripheral artery disease.
Some of the players included in bioabsorbable stents market are -
- Abbott Laboratories
- STENTYS SA
- Medtronic Plc
- Microport Scientific Corporation
- Biotronik SE & Co. KG
- B. Braun Melsungen AG
- Terumo Corporation
- Elixir Medical Corporation
- Boston Scientific Corporation
- C.R. Bard
The report segments the bioabsorbable stents market as follows:
Global Bioabsorbable Stents Market: Material Segment Analysis
- Polymer Based Stents
- Metallic Stents
Global Bioabsorbable Stents Market: Absorption Rate Segment Analysis
- Slow- Absorption Stents
- Fast- Absorption Stents
Global Bioabsorbable Stents Market: Application Segment Analysis
- Coronary Artery Diseases
- Peripheral Artery Diseases
Global Bioabsorbable Stents Market: End User Segment Analysis
- Hospitals
- Cardiac Centers
- Others
Global Bioabsorbable Stents Market: Regional Segment Analysis
- North AmericaU.S.
- EuropeUKFranceGermany
- Asia PacificChinaJapanIndia
- Latin AmericaBrazil
- Middle East and Africa
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