The Global Bioabsorbable Stent Market is estimated at USD XX billion in 2017 and projected to reach USD XX billion by 2022, growing at a CAGR of XX% during the forecast period.
According to WHO, cardiovascular diseases is the number one cause of death, globally, killing around 17.5 million in 2012, representing 31% of all global deaths. Of these, an estimated 7.4 million were due to coronary heart disease and 6.7 million due to stroke. More than 75% of the deaths were from the middle-income and low-income countries; wherein, the birth rate is higher, hence a higher population growth rate. Thus, a huge population already suffering from cardiovascular diseases and a trend towards an increase in this population base, are major driving factors for this market.
Changing lifestyle in emerging economies, such as India, is again contributing to a rise in cardiovascular diseases. The number of obese people and the population at a higher risk of obesity is also increasing. In 2014, more than 1.9 billion adults, 18 years and older, were overweight. Of these, over 600 million were obese. This population base is more susceptible to heart diseases, and if not checked, a very high percentage of these obese people may be affected by cardiovascular diseases.
The highest number of deaths caused by cardiovascular diseases, of which approximately 50% are due to coronary heart disease, changing lifestyles, increasing obese population and steep growth in the geriatric population are the major driving factors for the growth of the market. Bioabsorbable stent, as the name suggests, can be disintegrated by human body without any external intervention. Hence, it eliminates the need for post-treatment intervention and also prevents potential inflammation that can lead to late-stent thrombosis and restenosis. This procedural advantage is also attracting healthcare providers, as well as the payers.
Stringent regulatory scenario, due to which only a few products have been approved till now, is hindering the growth of this market. Also, high device cost, certain drawbacks of using polymer – such as recoil after expansion, stent thickness causing maneuverability and crossing issues, difficulty in visualizing a non-metallic stent on fluoroscopy, and stents not crimping firmly on delivery balloons, are hindering the growth of the market.
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The global bioabsorbable stent market can be segmented based on
Currently, Europe is the largest market, globally, followed by North America. APAC is expected to have the highest growth rate in the coming years, due to increasing awareness about the procedure and products. The global bioabsorbable stent market can be segmented by the product type (polymer based bioabsorbable stents and metal based bioabsorbable stents), application (coronary artery disease, peripheral artery disease and others), end-user (hospitals, cardiac center and research) and by geography (North America, Europe, Asia-Pacific, the Middle East and Africa, and Latin America).
The global market for bioabsorbable stent market is still in its infancy, with very few products reaching the market. Europe represents the largest market, but due to the stringent regulatory scenario of the US FDA, only one product, Abbott Absorb, is commercially available in the USA. However, many products are in the pipeline, some in clinical and others in the developmental phase, which is an indication of a bright future for this market.
Some of the key players in the global market are:-
Kyoto Medical Planning Co. Ltd
Elixir Medical Corporation
Meril Life Sciences
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Market analysis for the bioabsorbable stent market, with region specific assessments and competition analysis.
Market definition along with the identification of key drivers, restraints opportunities and challenges.
Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale.
Extensively researched competitive landscape section with company profiles of key players with the analysis of their current strategic interests and key financial information.
Identification and analysis of the macro and micro factors that affect the global bioabsorbable stent market.
Insights of the market in the regions that have the highest potential for growth and also identify the markets that are still untapped.