The Global bioabsorbable stents market is advancing to achieve USD 1.8 billion by 2021 from USD 0.315 billion by 2016, at a CAGR of 41.64%
According to the report Global bioabsorbable stents market, published by Market Data Forecast, the Market is advancing to achieve USD 1.8 billion by 2021 from USD 0.315 billion by 2016, at a CAGR of 41.64% in the course of forecast period. Stents are generally utilized as a part of the treatment of blocked arteries.
They are small and expandable work tubes that hold arteries open and help treat peripheral and coronary artery diseases. Bioabsorbable stents are characterized as completely biodegradable stents that totally vanishes overtime.
A stent is a metallic or a polymer tube embedded into the lumen of any vein or a duct so as to keep the entry open. Numerous stents for various clinical conditions are accessible in the market.
A stent embed is the most normally utilized one, for the treatment of cardiac abnormalities, for example, blocked blood vessels. Stents are embedded in the esophagus to permit the entry of food and drinks in patients experiencing esophageal cancer.
They can also be used in kidneys, abdominal & gastrointestinal tract for various purposes. Using of bioabsorbable stents instead of permanent metallic stents eliminates the need to undergo second surgery to remove the metallic stents.
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Increment in cardiovascular surgeries is due to rise in danger of cardiovascular issue among the people suffering from obesity. As per WHO reports, cardio vascular problems are the main source of death than any other health issues, further it is expected that by 2030 more than 23 million individuals may die due to Cardio vascular diseases.
Thus, aging population and increase in the cardiovascular diseases are the key driving factors for the growth of the market. Positive outcomes of surgeries with bioabsorbable stents and Post-surgery reports also account for the development of market.
However, there are many regulatory, technological, safety-efficacy and also cost related issues which market has to deal with before reaching its full potential.
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The market is segmented into different categories based on material, absorption rate, application and end user. Based on material, bioabsorbable stents can be divided into two types.
They are polymer stents, and metallic stents. Polymer stents are expected to grow at a higher CGAR compared to metallic stents.
Based on absorption rate, market is segmented into slow absorption rate stents and high absorption rate stents. In 2016, market for slow absorption stents is predicted to be on the higher side.
By application, bioabsorbable stents are categorized as coronary artery disease and peripheral artery disease. Coronary artery disease is expected to have larger share than peripheral artery disease.
On the basis of end user, market can be segmented into hospitals and cardiac centers. The market is dominated by hospitals.
By region, market can be segmented as North America, Asia-Pacific, Latin America, Europe and Middle East and Africa. On the basis of geography, the highest market share holder is Europe, followed by North America.
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Some of the major players in global market of bioabsorbable stents are Elixir Medical Corporation, Arteries Limited, Amaranth Medical Inc, Abbott Laboratories, Arterial Remodeling Technologies S.A, Biotronik, Kyoto Medical Planning Co Ltd., Reva Medical Inc, Tepha.Inc, SMT, Xenogenics Corporation
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