Bioabsorbable Stents Market 360-Degree Research with Current and Future Trends 2022–2030
The global bioabsorbable stents market was valued at US$ 296.48 Mn in 2021 growing at a CAGR of 6.8% over the forecast period (2022–2030). The growing prevalence of cardiovascular diseases, the aging population, and initiatives by market players are the key factors driving the market growth over the forecast period.
Bioresorbable stents (BRS), also known as bioabsorbable or biodegradable stents, are coronary stents that can dissolve entirely in the body. The key benefit and promise of using a BRS are that it will clear out of the body within a few years, potentially reducing the long-term adverse effects found with traditional stents. Bioabsorbable stents may have a role in pediatrics since they allow vascular expansion and do not require surgical removal. This device is gaining popularity in interventional cardiology due to its potential benefits, including a lower risk of stent thrombosis during long-term follow-up, which is one of the most feared consequences of metallic stents. Polylactic acid, a naturally dissolvable substance utilized in medical implants such as dissolving sutures, is employed in the majority of bioresorbable stents. Several companies are investing in the expansion of their operations to strengthen their product portfolio and enhance their businesses in the bioabsorbable stents market. In May 2021, amg International GmbH, a subsidiary company of Dublin, Ireland-based Q3 Medical Devices Limited (Q3), announced that its second fully biodegradable product, the UNITY-B balloon-expandable biodegradable biliary stent (BEBS) for endoscopic application, had achieved CE Mark approval. The UNITY-B Biodegradable implant was created as a biodegradable metallic stent to complement amg’s ARCHIMEDES biodegradable pancreatic biliary stent.
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The growing number of cardiovascular diseases worldwide is one of the significant factors contributing to the bioabsorbable stents market growth. According to the World Health Organization, cardiovascular diseases (CVDs) are the leading cause of death worldwide, resulting in the deaths of 17.9 million people each year. An unhealthy diet, physical inactivity, tobacco use, and harmful alcohol use are the most important behavioral risk factors for heart disease and stroke. Furthermore, rising government assistance and increased research activities are the factors driving market growth over the forecast period. However, several factors, such as a stringent regulatory scenario and high device costs, impede the market growth.
COVID-19, which is caused by a coronavirus strain known as severe acute respiratory syndrome coronavirus 2, has spread throughout the world, threatening the health of billions of people. The COVID-19 pandemic has posed new challenges to all populations worldwide. The treatment of cardiovascular diseases was slightly reduced in the early stages of pandemics, but major companies are now focusing on cardiovascular and other diseases. As a result of this, the global bioabsorbable stents market is expanding to help patients suffering from cardiovascular diseases.
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Global Bioabsorbable Stents Market Report Highlights
- In terms of product, the polymer-based stent segment preserved a sizable market share in 2021. Polymer-based bioabsorbable stents are built of materials that can dissolve or absorb fully in the body. These are utilized in the treatment of both peripheral and coronary artery disease. The majority of bioabsorbable stents are made of polylactic acid, a naturally dissolvable substance. Polymeric stent materials are continuously being researched for the development of innovative bioabsorbable stents with a low risk of restenosis and late stent thrombosis.
- By application, the coronary artery disease segment held a significant share in the market in 2021. This segment’s dominance is due to reasons such as an aging population that is more susceptible to coronary artery disease and the adoption of unhealthy lifestyle behaviors that enhances the risk of coronary artery disease.
- Hospitals captured the largest revenue by end-user in 2021, as hospitals are the primary point of care for the treatment of cardiovascular and orthopedic-related disorders. also, hospitals offer more care to their patients, and treatment costs are often reimbursed, which drives adoption.
- The Asia Pacific region is anticipated to be the fastest-growing region in the bioabsorbable stents market over the forecast period. Some of the major developing countries such as China, and India are contributing to the growth of the Asia Pacific region due to the increasing aging population and rapidly increasing cases of cardiovascular diseases. Participants launched or unveiled new products in the market and have contributed to the market’s revenue. Life Sciences, for instance, announced the introduction of its indigenously researched and manufactured bioresorbable scaffold (BRS) MeRes100 in India in March 2021. Bioresorbable scaffolds are non-permanent mesh tubes that dissolve over time once the previously blocked artery is unblocked during a regular angioplasty treatment. MeRes100 is now being introduced in 16 cities throughout India, including Mumbai, Delhi, Gurugram, Bengaluru, Chennai, Pune, Hyderabad, Ahmedabad, Lucknow, Chandigarh, Mohali, Jaipur, Kochi, Kerala, Nagpur, and Bhubaneswar.
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List of Key Players — Global Bioabsorbable Stents Market:
- Boston Scientific Corporation
- Elixir Medical Corporation
- KYOTO MEDICAL PLANNING Co., Ltd.
- Lepu Medical Technology(Beijing)Co.,Ltd.
- Meril Life Sciences Pvt. Ltd.
- MicroPort Scientific Corporation
- OrbusNeich Medical Company Limited
- Q3 Medical Devices Limited
- REVA Medical, LLC
- S3V Vascular Technologies
- Terumo Corporation
- Other Market Participants
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Global Bioabsorbable Stents Market Segmentation
Absolute Markets Insights has segmented the global bioabsorbable stent market on the basis of product, application, end-user and region:
Global Bioabsorbable Stents Market Product Outlook (Revenue, USD Million, 2015–2030)
- Polymer-Based Stent
- Metal-Based Stent
Global Bioabsorbable Stents Market Application Outlook (Revenue, USD Million, 2015–2030)
- Coronary Artery Disease
- Orthopedic Application
Global Bioabsorbable Stents Market End-User Outlook (Revenue, USD Million, 2015–2030)
- Cardiac Centre
Global Bioabsorbable Stents Regional Outlook (Revenue, USD Million, 2015–2030)
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
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