According to a latest market research report “Resorbable Vascular Scaffold Market (Material Type – Metal Based BVS, and Polymer Based BVS; Application – Coronary Artery Stents, and Peripheral Artery Stents; End User – Hospitals, Ambulatory Surgical Centers, and Cardiac Centers): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025.” The global Resorbable Vascular Scaffold market was worth USD 121.09 Million in 2017 and is expected to reach over USD 313.89 Million by 2025 with a CAGR of 15.13% during the forecast period from 2019 to 2025.
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Heart-related disorder is rising with tremendous rate globally, and new innovation in treatments are getting more attention owing to disadvantages with conventional procedures. The bioresorbable vascular scaffold is designed to restore the function of the blocked artery in the heart and restore blood flow to the heart muscle.
Rising heart-related disease globally is the major driver for the growth of the resorbable vascular scaffold market. According to WHO cardiovascular disease is the major cause of death every year, failure of the heart mainly caused by a blockage in the arteries. The resorbable vascular scaffold is a non-metallic, non-permanent, mesh tube structure that is used to remove or clear cholesterol and fatty deposits in the narrowed artery. Bioresorbable Vascular Scaffold (BVS) is similar in appearance to a stent but dissolves after the artery starts to work with its normal way.
Moreover, the increase in smoking habit, and unhealthy food intake habits are increasing the cardiovascular disease. Furthermore, rising awareness of heart diseases all over the globe by initiatives taken by the government and private sectors are rising the demand of resorbable vascular scaffold market. However, high cost associated with implant and treatment cost can hinder the growth of the market. On the other hand, government funding for research and improvement in reimbursement policies can provide better opportunities for the market.
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Polymer-Based Bioresorbable Vascular Scaffold held a Huge Market Share of Over 70% in the Global Bioresorbable Vascular Scaffold Market
Global resorbable vascular scaffold market segment by material type, application, and by end user. Material segment further sub-segmented into metal-based BVS and Polymer based BVS. Among them, polymer-based bioresorbable vascular scaffold held a huge market share of over 70% in the global bioresorbable vascular scaffold market. By application segment classified into coronary artery stents and peripheral artery stents. Coronary Artery stents occupy around 75% of the market share in the global bioresorbable vascular scaffold market. End-user segment bifurcated into hospitals, ambulatory surgical centres, and cardiac centres.
Region Wise Performance of “Resorbable Vascular Scaffold Market”
Geographically, resorbable vascular scaffold market categorized into North America, Europe, Asia-Pacific and RoW. North America dominates the region in the forecast period followed. According to the Centers for Disease Control and Prevention, heart disease causes around 610,000 deaths in the U.S. each year. Europe region is anticipated to grow with significant rate owing to increase in geriatric population, change in lifestyle, technological advancements in the healthcare sector. Resorbable vascular scaffold market in the Asia Pacific region expected to grow with the healthy rate in the forecast period, factors such as changing food habitat and rising alcohol consumption in young generation are responding to the increasing prevalence of cardiovascular diseases such as coronary heart disease in this region.
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Major Key Players of “Resorbable Vascular Scaffold Market”
Key players in the market include Abbott Laboratories (U.S), Medtronic (U.S.), Biotronik SE & Co. KG (Germany), REVA Medical, Inc. (U.S.), Boston Scientific Corporation (U.S.), Biosensors International Group, Ltd. (Singapore), Svelte Medical Systems, Inc. (U.S.), Stentys SA (France), Kyoto Medical, Elixir Medical, and others.
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