BIOABSORBABLE STENTS MARKET
Overview:
Bioabsorbable stents are tube-like devices that are inserted into blood vessels to expand it in order to prevent the blockage. These devices are also known as bioresorbable stents or biodegradable stents. The conventional stents are made of metal, however, novel bioabsorbable stents are developed from soluble substances. Using traditional metal stents restricts the vessel movement of the patient, as it stays for a long period in the body. Bioabsorbable stents offer advantages over traditional drug eluting stents (DES) such as reduced risk of potential inflammation, late stent thrombosis and restenosis. The vessel is restored to its original state of vasodilatation and vasoconstriction when the bioabsorbable stent dissolves.
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Drivers:
Rise in the number of cardiovascular diseases cases across the world is expected to propel growth of the global bioabsorbable stents market. Moreover, increasing prevalence of late stent thrombosis and restenosis is also expected to fuel growth of the bioabsorbable stent market. For instance, in 2008, according to American Heart Association (AHS), late stent thrombosis was responsible for 45% of mortality rate.
Furthermore, factors such as increasing aged population who are at high risk of cardiovascular diseases and stroke that needs stent implants, growing inclination towards the use of bioabsorbable stents, and technological development in stent are also expected to boost growth of the global bioabsorbable stents market.
Similarly, increasing chronic diseases that require stents, caused due to immobility, unhealthy life choices and change in lifestyle are expected to support growth of the bioabsorbable stents market.
Restraints:
Factors such as high cost of stents, strict government policies and guidelines are expected to hunder growth of the global bioabsorbable stents market.
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Market taxonomy:
The global bioabsorbable stents market is divided into diseases type, material, absorption rate, end users and region
By disease type:
- Coronary artery disease
- Peripheral artery disease
By material:
- Polymer
- Metal
- Iron
- Magnesium
By absorption rate:
- Slow absorption rate
- Fast absorption rate
By end-users:
- Cardiac centers
- Hospitals
- Ambulatory surgical centers
Regional analysis:
The global bioabsorbable stents market is regionally divided into North America, Europe, Latin America, Middle East, Asia Pacific, and Africa.
Among regions, North America is expected to witness strong growth in the bioabsorbable stents market, owing to increasing cases of cardiovascular diseases. For instance, in 2015, the World Health Organization (WHO) estimated cardiovascular disease caused 31% of deaths in the U.S.
Moreover, Asia Pacific is witnessing robust growth in the bioabsorbable stents market due to increasing awareness regarding the bioabsorbable stents in the region.
Key players:
Major players functioning in the bioabsorbable stents market are Abbott laboratories, Reva Medical Incorporated, Amaranth Medical Incorporated, Microsoft scientific corporation, STENTYS SA, Biotronik, Elixir Medical Corporation, Kyoto Medical Planning Cooperative Limited, and Boston Scientific Co.
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