Bioresorbable vascular stents dilate blood vessels without obstruction, which disintegrates in the human body without any external intervention. It stops inflammation which causes thrombosis and stent restenosis and removes the need for postoperative involvement. Bioresorbable stents are better to first and second generation stents because bioresorbable stents reduce the need for double antiplatelet therapy.
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Global Bioresorbable Vascular Scaffold Market: Drivers
Bioresorbable vascular scaffold is used in the treatment of coronary and peripheral arterial obstruction, which is associated with ischemic heart disease, coronary heart disease and other cardiovascular diseases. This is likely to increase the need for bioresorbable vascular scaffolds, which will boost the market. According to the World Health Organization (WHO), cardiovascular disease is the main cause of mortality and morbidity all over the world, representing approximately 17.7 million, representing 31% of all global deaths in 2015, with approximately 6.7 million deaths caused by stroke and 7.4 million coronary heart disease.
Similarly, in 2018, according to the American Heart Association, 92.1 million American adults had some kind of cardiovascular disease or post-stroke consequences. Around 836,546 deaths in the US were caused by cardiovascular disease, accounting for 1 in 3 deaths. Direct and indirect costs for the treatment of cardiovascular disease and stroke in 2018 were estimated at US$329.7 billion, of which US$329.7 billion was spent. This includes both health costs and lost productivity.
The size of the global bioresorbable vascular scaffold market is US$ 147.0 million in 2017, and during the estimated period (2018-2026) it is likely to witness a CAGR of 12.5%.
Global Bioresorbable Vascular Scaffold Market: Market Trends
Furthermore, the introduction of the new bioresorbable vascular scaffold, that helps patients with cardiovascular disease, is driving the growth of the market for bioresorbable vascular scaffolds over a predictable period. For example, the US Food and Drug Administration (FDA) approved Abbott in July 2016 for the Absorb GT1 bioresorbable vascular scaffold (BVS). The product is completely absorbed with time and boosts coronary luminal diameter in patients with ischemic heart disease owing to de novo root coronary artery lesions.
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Although, difficulties such as central nerve damage, pulmonary complications, heart-related complications, equipment malfunction, and catheter-related blood vessel infection are likely to limit the adoption of bioresorbable vascular scaffolds, which hinder market growth.
Global Bioresorbable Vascular Scaffold Market: Regional Analysis
Due to the rapid growth of the geriatric population, increasing incidence of heart disease, coronary and peripheral arterial disease, and the growing number of overweight people in the region, North America is likely to dominate the global bioresorbable vascular scaffold market. According to the World Population Prospects, the number of people aged 80 and over is likely to triple by 2050, from 137 million in 2017, to 425 million in the US in 2050, and this age is likely to double globally, from 962 million in 2017 to 2050. 2.1 billion.
Global Bioresorbable Vascular Scaffold Market: Key Takeaways
Furthermore, key players in the market focus on obtaining formal permissions for new products to lower the burden of bloodstream infections related to the bioresorbable vascular scaffold. For example, Pursuit Vascular, Inc. received U.S. FDA approval in May 2018 for a comprehensive indication of its Clear Guard HD caps to include a reduction in the incidence of central-line related blood flow infection (CLABSI) in haemodialysis patients with a bioresorbable vascular scaffold.
Global Bioresorbable Vascular Scaffold Market: Segmentation
On the basis of Product Type, the Global Bioresorbable Vascular Scaffold Market is segmented into:
- Synthetic
- Biological
On the basis of Material, the Global Bioresorbable Vascular Scaffold Market is segmented into:
- Metal Based BVS
- Polymer Based BVS
On the basis of Application, the Global Bioresorbable Vascular Scaffold Market is segmented into:
- Coronary Artery Stents
- Peripheral Artery Stents
- Others
On the basis of End User, the Global Bioresorbable Vascular Scaffold Market is segmented into:
- Hospitals
- Ambulatory Surgical Centres
- Cardiac Centres
- Others
On the basis of Region, the Global Bioresorbable Vascular Scaffold Market is segmented into:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East
- Africa
Global Bioresorbable Vascular Scaffold Market: Competitive Landscape
Key players performing in the global bioresorbable vascular scaffold market are Theragenics Corporation, C. R. Bard, Inc., W.L. Gore & Associates, MAQUET Holding B.V. & Co. KG (Getinge AB), Stentys SA, Medtronic Plc., B. Braun Melsungen AG, Boston Scientific Corporation, Cook Medical, and Abbott.
𝗕𝘂𝘆 𝗡𝗼𝘄 𝗧𝗼 𝗚𝗲𝘁 𝗙𝗹𝗮𝘁 30% 𝗢𝗳𝗳
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Table of Content
Chapter 1 Industry Overview
1.1 Definition
1.2 Assumptions
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Global Bioresorbable Vascular Scaffold Market Size Analysis from 2021 to 2027
11.6 COVID-19 Outbreak: Bioresorbable Vascular Scaffold Industry Impact
Chapter 2 Global Bioresorbable Vascular Scaffold Competition by Types, Applications, and Top Regions and Countries
2.1 Global Bioresorbable Vascular Scaffold (Volume and Value) by Type
2.3 Global Bioresorbable Vascular Scaffold (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Bioresorbable Vascular Scaffold Sales, Consumption, Export, Import by Regions (2016-2021)
Chapter 5 North America Bioresorbable Vascular Scaffold Market Analysis
Chapter 6 East Asia Bioresorbable Vascular Scaffold Market Analysis
Chapter 7 Europe Bioresorbable Vascular Scaffold Market Analysis
Chapter 8 South Asia Bioresorbable Vascular Scaffold Market Analysis
Chapter 9 Southeast Asia Bioresorbable Vascular Scaffold Market Analysis
Chapter 10 Middle East Bioresorbable Vascular Scaffold Market Analysis
Chapter 11 Africa Bioresorbable Vascular Scaffold Market Analysis
Chapter 12 Oceania Bioresorbable Vascular Scaffold Market Analysis
Chapter 13 South America Bioresorbable Vascular Scaffold Market Analysis
Chapter 14 Company Profiles and Key Figures in Bioresorbable Vascular Scaffold Business
Chapter 15 Global Bioresorbable Vascular Scaffold Market Forecast (2021-2027)
Chapter 16 Conclusions
Research Methodology
Continued….
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