Abbott Laboratories, Biotronik SE & Co., Arterial Remodeling Technologies SA, Amaranth Medical Inc., Elixir Medical Corporation, Kyoto medical planning Co. ltd are some of the prominent players at the forefront of competition in the Absorbable Heart Stent Market and are profiled in MRFR Analysis.
Absorbable Heart Stent – Market Overview
Stents are small expandable tube like devices used to inflate the arteries of the patient in order to prevent blockage. These are called as Heart stent or cardiac stent.
Multibillion absorbable heart stent industry could suffer negative growth, due to life threatening adverse effects associated with absorbable stent. Recently researcher have identified that absorbable heart stent device could increase risk of heart attacks and blood clots. Recent analyses that showed an elevated rate of major adverse cardiac events, specifically heart attack and blood clot, when compared to patients treated with an another alternate stent. Severe adverse effect compelled, The Therapeutic Goods Administration (TGA) to remove the device from the Australian Register of Therapeutic Goods (ARTG).
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Recent warning by FDA on absorbable stent usage, could hurt multibillion absorbable stent industry growth. There was discouraging news on bio absorbable stents today. The US FDA said it was investigating higher risks of stent related thrombosis & other major cardiac events in patients who got the Absorb GT1 bio absorbable vascular scaffold (BVS) stent than in patients who go the approved metallic XIENCE drug-eluting stent. Issuing its warning, the FDA advised physicians to avoid using the stent in small heart vessels and to review the procedures for placing the device.
Abbott discontinues global sales of 1st-generation Absorb stents. Abbott Laboratories, one of the biggest makers of coronary stents, announced halting global sales of their fully absorbable stent-Absorb Bioresorbable Vascular Scaffold (BVS) citing low commercial sales. Once hailed as the next big breakthrough in medical devices, the first-generation Absorb BVS, the first & only fully dissolving heart stent was approved by the US FDA in July 2016 to treat patients with coronary artery disease. In a statement by Abbott posted on its website, said it is discontinuing all sizes of the Absorb bio absorbable vascular scaffold system, the halt includes both the Absorb and Absorb Gt1 Bioresorbable Vascular Scaffold Systems.
Absorbable Heart Stent Market – Competitive Analysis
Abbott could face saviour loss due to recent development against absorbable heart stent. This development could affect entire absorbable heart stent manufacturer. Now company are on process to conduct more trials to check safety profile of absorbable stent. There are many big players in the absorbable heart stent market such as: Abbott Laboratories, Biotronik SE & Co., Arterial Remodeling Technologies SA, Amaranth Medical Inc., Elixir Medical Corporation, Kyoto medical planning Co. ltd
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Absorbable Heart Stent Market – Regional Analysis
Globally, absorbable heart stent market is spread across four regions- Americas, Europe, Asia Pacific and Middle East and Africa. The Americas captures a significant market share owing to high expenditure on the health care especially in the U.S. and Canada. Increase in chronic heart disease and increasing geriatric population suffering from risk factors for heart disease like diabetes and obesity.
Europe is the second largest market in the world due to growing medical devices industry and healthcare penetration. The European market growth is led by countries such as Germany and France. Now European market could suffer loss due to recent development. Abbott pulls troubled absorb stent from European market. Abbott Laboratories has sent a letter to European physicians informing them that the Absorb Bioresorbable Vascular Scaffold (BVS) and Absorb GT1 BVS will only be available for use in clinical registry setting at select sites/institutions.
Asia Pacific region is expected to follow similar trend. India’s drug regulator issued an advisory asking patients and medical professionals to report any adverse events, an expert panel was also formed by drug controller to study these stents. The panel warned against the use of stents that are 2.5mm or narrower. For larger vessels, the regulator has said that the bioresorbable stents may be used, but only in controlled settings.
- Research Methodology
- Market Dynamics
- Market Factor Analysis
- Global Absorbable Heart Stent Market, By Type
- Global Absorbable Heart Stent Market, By End User
- Global Absorbable Heart Stent Market, By Region
- Competitive Landscape
- Company Profile
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