Impact Analysis of Covid-19
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The Global Biodegradable Stents Market, by Product Type (Coronary Stents and Peripheral Stents), By Material Type (Polymer-based Stents and Metallic Stents), by End User (Hospitals, Specialty Clinics, and Ambulatory Surgical Centers) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 278.6 million in 2018, and is projected to exhibit a CAGR of 15.6% over the forecast period (2018 – 2026).
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Biodegradable stents are fully degradable mesh like network that are utilized for the treatment of blockage in arteries or guts or biliary ducts. Moreover, according to the Transcatheter Cardiovascular Therapeutics (TCT) and American College of Cardiology (ACC) the adoption of stents is expected to shift from conventional metallic stents to bioresorbable stents, which is expected to boost the biodegradable stents market growth over the forecast period.
Furthermore, biodegradable stents market is expected to witness significant growth over the forecast period, attributed to increasing number of regulatory approved products in the market. For instance in 2016, Abbott Laboratories received approval for Absorb bioresorbable heart stent in Japan that is indicated for treatment of coronary artery disease. Similarly in 2016, Biotronik received CE approval for its Magmaris, a bioresorbable scaffold. The product offers easier delivery and more strength resisting inward forces once deployed. Additionally, in 2015, Boston Scientific received the FDA approval for Synergy, first bioresorbable stent to unblock clogged arteries via drug elution.
In June 2018, REVA medical, Inc., received CE approval for Fantom Encore Product line, which comprises of third generation coronary bioresorbable scaffold. Moreover, the company is planning to expand its presence in Europe, Middle East, and South America through distribution partnership. Moreover in June 2018, AMG International received CE approval for Archimedes, a biodegradable stent for treatment of obstructive biliary and pancreatic disorders. Such product approvals are expected to boost the market growth over the forecast period.
Browse Market Data 32 Tables and 30 Figures spread through 150 Pages and in-depth TOC on ” Biodegradable Stents Market, by Product Type (Coronary Stents and Peripheral Stents), by Material Type (Polymer-based Stents and Metallic Stents), by End User (Hospitals, Specialty Clinics and Ambulatory Surgical Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Global Forecast to 2026”
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In addition, as of 2017, Abbott was the only company, which had approval for completely bioresorbable stents. This offers wide opportunity for the market players as well as new entrant to come up with new fully degradable biodegradable stents to surpass the market. For instance, according to article published in Springer Healthcare, 2013, REVA and ABSORB are engaged on ongoing clinical trials of completely biodegradable stents.
Key Takeaways of the Biodegradable Stents Market:
- The global biodegradable stents market is expected to exhibit a CAGR of 15.6% over the forecast period (2018-2026), attributed to increasing product launches by key players
- Among product type, coronary stents segment is expected to hold a dominant position in the market, attributed to increasing cases of arteries blockage.
- Among material type, polymer-based stents is expected to hold a dominant position in the market over the forecast period due to increasing number of product launches under polymer-based segment, coupled with rising preference amongst medical professionals
- Key players operating in global biodegradable stents market include Boston Scientific Corporation, Abbott, Kyoto Medical Planning Co., Ltd., QualiMed, Elixir Medical Corporation, ENDOCOR GmbH, BIOTRONIK SE & Co. KG, Amaranth Medical, Inc., and Arterial Remodeling Technologies SA, among others
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