Global absorbable heart stents market is estimated to increase at a substantial rate of 12.02% between 2023 and 2031, reaching US$ 822.7 million in revenue by 2031 from US$ 307.1 million in 2022. This is due to the increasing incidence of coronary artery disease, the growing use of minimally invasive techniques, and the aging of the population.
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As more and more patients explore less intrusive ways to treat their heart diseases, the demand for absorbable heart stents is increasing quickly. The substance used to create absorbable stents degrades over time, leaving behind healthy tissue. Due to its ability to prevent complications and remove the need for additional surgeries, this kind of stent is growing in popularity.
The growing need for absorbable heart stents is due to various additional considerations, such as their potential to lessen atherosclerosis and enhance patient outcomes. Even more, advantages will probably find as these gadgets are the subject of greater research. Absorbable heart stents are currently a desirable alternative for many patients having cardiac operations due to these important considerations. Patients are increasingly adopting minimally invasive procedures that have a shorter recovery period and fewer side effects. Traditional cardiac stents, which need long-term drug use and may result in issues including blood clots, can be replaced with absorbable heart stents.
Asia Pacific is likely to be the largest region recording a market share of more than 35%. Due to the availability of cutting-edge technology and benevolent reimbursement rules, the area produced revenues of US$ 111.82 million in 2021. The need for medical equipment and treatments is increasing as the Asia Pacific region’s economy continues to expand quickly. Since they can naturally dissolve over time in the body, absorbable cardiac stents are one of these technologies that are gaining popularity.
As patients become more knowledgeable about absorbable stents, Europe and North America are also likely to experience significant growth. With a roughly 25% market share, the United States dominates the market for absorbable cardiac stents. Due to the high frequency of cardiovascular illnesses in the area, stent treatments are needed by a sizable patient population. With an estimated 655,000 fatalities each year, the American Heart Association lists cardiovascular disease as the country’s biggest cause of death. Similar to the United States, Canada has the cardiovascular disease as the second-leading cause of mortality, responsible for about 20% of all fatalities.
In terms of Material
Polymer stents are the market leader in the world for absorbable cardiac stents. By 2030, the market is likely to be worth more than US$ 480 million. Heart stents composed of biodegradable polymers are now available thanks to recent developments in the manufacturing of medical devices. These devices have minimal long-term side effects because they are made to be permanently implanted in the body and slowly decay over time.
In terms of Absorption Rate
The fast absorption rate segment is likely to record a revenue share of over 70% share of the global absorbable heart stent industry. Heart stents designed for quick breakdown are called fast-absorption biopolymers. These biopolymers, which have undergone significant research and have shown great biocompatibility and biodegradability in clinical studies, include polylactic acid (PLA), polyglycolic acid (PGA), and polycaprolactone (PCL). An easier production procedure compared to typical metal stents supports segmental growth.
In terms of End-User
The hospitals and clinics segment is leading the global market, which is also expanding at a CAGR of 12.25%. Absorbable heart stents are now being used in hospitals and clinics all around the world in an effort to better care for people with heart diseases. These stents don’t require surgery to remove because the substance used to make them progressively degrades over time. Absorbable stents are hoped to significantly progress the treatment of heart disease and enhance the quality of life for many patients.
In terms of the Application
The coronary artery disease segment dominates the absorbable heart stent segment. By 2030, it is likely to bring in $530 million in income. Absorbable heart stents are in high demand for both therapeutic and preventive uses owing to the increased prevalence of CAD. The market is expanding due to the rising demand for minimally invasive procedures.
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Many well-known players are working in the extremely competitive market for absorbable cardiac stents. Over 80% of the market’s revenue is held by the top 10 companies, demonstrating the dominance of well-established competitors. Boston Scientific Corporation is the market’s second-largest competitor after Abbott. Each business is well-established in the market, and they each have a sizable product line and network of distributors.
These businesses in the market for absorbable heart stents concentrate on research and development to create novel products. They also participate in strategic alliances and partnerships to increase their exposure and market share. Additionally, they spend a lot of money on marketing and advertising to promote their brand and draw in new customers.
In Nov 2022, Absorbable magnesium alloy coronary stents, which leave no metal residue in the body, were implanted for the first time by a surgical team in China.
In Sept 2022, In order to assess the security and efficiency of the business’s brand-new Esprit BTK Everolimus Eluting Resorbable Scaffold System, Abbott has begun the LIFE-BTK clinical research. This is the first Investigational Device Exemption (IDE) trial in the United States to test a totally bioresorbable stent for the treatment of critical limb ischemia (CLI), or blocked arteries below the knees, in patients with the severe peripheral arterial disease (PAD).
Top Leading Companies
- Abbott Laboratories
- Arterial Remodeling Technologies
- B. Braun Melsungen AG
- Boston Scientific Corporation
- Elixir Medical Corporation
- Kyoto Medical Planning
- Meril Life Sciences Pvt. Ltd
- Reva MedicalTerumo Medical Corporation
- Lepu Medical Technology Co.
- Other Prominent Players
- Metallic Stents
- Polymer Stents
By Absorption Rate
- Slow absorption rate
- Fast absorption rate
- Coronary Artery Disease
- Peripheral Artery Disease
By End User
- Hospitals & Clinics
- Cardiovascular Centers
- Research Institutes & Organizations
- North America
- The U.S.
- The U.K.
- Rest of Europe
- Asia Pacific
- South Korea
- Australia & New Zealand
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
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