The global Bioabsorbable Stents market is anticipated to increase at a 4.2, % CAGR to reach value ~US$ 248.5 Mn in 2032
Bioabsorbable stents are generally used in the treatment process of blocked arteries. The Bioabsorbable stent is a very tiny mesh tube that helps in treatment of coronary artery illness. It is a mesh tube that keeps the arteries open to help the treatment. The Bioabsorbable stents have the feature of dissolving with time and slowly disappear in time. The Bioabsorbable stent market size is growing owing to the increased aging population which are prone to coronary and cardiovascular diseases.
Another factor influencing growth of Bioabsorbable Stents market size is the rise in demand for Percutaneous Coronary Intervention procedures across the globe. This procedure is commonly known as angioplasty with stent. There has been considerable growth in the segment owing to increased awareness among people who are aware of the symptoms that might lead to cardiovascular diseases. Furthermore, there has been an increase in the income of people and they are able to afford the treatments. The Bioabsorbable Stents market trends indicate rise owing to increased preference by surgeons along with the growing preference from the patient’s side too. It is preferred by patients owing to its minimal invasive therapy feature.
Recent study and research by the World Health Organization (WHO) have indicated that cardiovascular disease is the main reason for sudden deaths globally. There is a large number of people that already have some stage of cardiovascular diseases and are being treated for the same. This is mainly owing to the current lifestyle and eating habits of people. With the growing population there is an increased trend in Bioabsorbable Stents market share.
However, there is a high cost involved in the equipment’s and devices involved in the process. Apart from the device cost there are other factors like high costs of stent’s usage are factors hampering the growth of Bioabsorbable Stents market size. Owing to the increased cost of Bioabsorbable stents many surgeons prefer using low cost stents that is also one of the reasons effecting the market growth. Also, the fact that there are, various strict rules and regulations when it comes to permissions and usage of Bioabsorbable stents is impacting the overall market growth.
Based on region the Global Bioabsorbable Stents Market is divided as North America, Europe, Asia and Pacific and Latin America. Among these the region of Europe contributes maximum to Bioabsorbable Stents market share, owing to the increased usage by doctors and preference by the patients. Europe is closely followed by North-Amercia, followed by regions of Asia-Pacific. Growth in Asia-Pacific is due to awareness and increased spending power owing to the growing income of the population.
Bioabsorbable Stents Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2032||~US$ 248.5 Mn|
|Growth Rate||CAGR of 4.2% during 2021-2032|
|Segment Covered||Type, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Abbott (US), BIOTRONIK SE & Co. KG (Germany), REVA Medical, Inc. (US), Elixir Medical Corporation (US), Arterial Remodeling Technologies (France), and Kyoto Medical Planning Co., Ltd. (Japan).|
Key players of Global Bioabsorbable Stents Market are Boston Scientific Corporation, Microport Scientific Corporation, Biotronik SE & Co. KG, Abbott Laboratories, B. Braun Melsungen AG, and many others. Some of these leading companies have collaborated to strengthen their market position.
• Bioresorbable polymer based stents
• Bioresorbable metallic stents
By Absorption Rate
• Slow- absorption stents
• Fast- absorption stents
• Coronary Artery Diseases
• Peripheral Artery Diseases
By End User
• Cardiac Centers
The various segments of Global Bioabsorbable Stents Market are
- North America
- Asia and Pacific
- Latin America