A research study titled, “Bioabsorbable Stents Market by Biomaterial, Application, and End User - Global Industry Analysis and Forecast to 2025” published by Crystal Market Research, states that the bioabsorbable stents market is projected to be around $8 billion by 2025.
Cardiovascular disorders majorly affect the geriatric population worldwide. These people are more vulnerable to heart related ailments such as strokes and cardiac arrests. Bioabsorbable stents offer more benefits as compared to traditional stents in applications such as angioplasty and peripheral artery related disorders. Bioabsorbable implants outperform with respect to traditional stents which remain as permanent foreign bodies inside the artery after their intended use. Such prolonged stay may result in mechanical blockages or late restenosis. Therefore, rise in adoption of bioabsorbale stents globally will drive the growth of this market over the forecast period.
Polymeric stents are widely used in treating cardiovascular diseases. By using bioabsorbale polymeric coating, thrombotic event can be considerably reduced. It can also eliminate the need for extended dual anti platelet therapy. Poly-L-Lactic is one of the polymers used in polymeric stents which breaks down the lactic acid into natural metabolites. Later it converts into water and metabolized carbon dioxide. Magnesium bioabsorbable stent is the most widely used metallic stent for management of cardiac diseases. Solubility is one of the major determining factors for using metal alloys in metallic stents.
Coronary artery disease market will exhibit the fastest growth over the forecast period as they have crucial applications in the treatment of coronary artery disorders. These diseases may escalate to heart attacks in certain cases. Peripheral artery diseases can be attributed to narrowing of the peripheral arteries to the arms, legs, and stomach. Atherosclerosis is one of the prime reasons for the induction of peripheral artery diseases. If left untreated, these diseases can lead to gangrene requiring amputation of the body part.
North America held the major share of the bioabsorbale stents market in 2016 with the U.S. representing the largest market, followed by Canada. Sedentary lifestyle habits of people have resulted in rise of cardiovascular disorders in the region. Rising awareness about the utility of bioabsorbale stents for treating coronary diseases along with technological advancements in these stents have contributed to the growth of this regional market. For instance, in 2016, Abbott obtained FDA approval for its Absorb bioabsorbable stent, which is the only fully dissolvable stent approved for the treatment of coronary artery disorders. Asia-Pacific market is anticipated to show a higher growth rate over the forecast period with the improving healthcare infrastructure in emerging nations as well as growing disposable income of people.
The leading companies in bioabsorbale stents market focus on collaborations and agreements to ensure and further enhance their share in the market. Some key players in bioabsorbale stents market are Biotronik, Medtronic plc, Kyoto Medical Planning. Co. Ltd, Reva Medical, Microport Scientific Corporation, Elixir Medical Corporation, Terumo Europe NV, and Boston Scientific corporation.
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Bioabsorbable stents market is expected to reach to $8 billion by 2027. This market growth is primarily attributed to the growing number of cardiovascular surgeries worldwide and offering more benefits when compared with other stents. Moreover, rapidly aging population which is more prone to strokes and needs a stent implant for treatment is set to further drive the market growth.