Global Bioabsorbable Stents
Market Report
2024
Global Bioabsorbable Stents market size was $417.2 Million in 2022 and it is forecasted to reach $996.7 million by 2030. Bioabsorbable Stents Industry's Compound Annual Growth Rate will be 11.5% from 2023 to 2030.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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Global Bioabsorbable Stents market size was $417.2 Million in 2022 and it is forecasted to reach $996.7 million by 2030. Bioabsorbable Stents Industry's Compound Annual Growth Rate will be 11.5% from 2023 to 2030.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Bioabsorbable Stents Market Sales Revenue 2022 | $ 417.2 Million |
Global Bioabsorbable Stents Market Sales Revenue 2030 | $ 996.7 Million |
Global Bioabsorbable Stents Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 11.5% |
Market Split by Material |
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Market Split by Application |
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Market Split by Absorption rate |
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Market Split by End-user |
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Market Split by Biomaterial |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Bioabsorbable Stents Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
The bioabsorbable stents market refers to the global industry that deals with the development, manufacturing, and commercialization of stents made from bioabsorbable materials. Stents are small, tubular devices used to treat narrow or blocked blood vessels by providing support and maintaining their open structure. Traditional stents are typically made of metal, such as stainless steel or cobalt-chromium alloys, but bioabsorbable stents are designed to gradually dissolve and be absorbed by the body over time. Bioabsorbable stents are typically made from materials such as polylactic acid (PLA), polyglycolic acid (PGA), and polycaprolactone (PCL), among others. These materials have properties that allow them to provide temporary scaffolding to the blood vessels, supporting them during the healing process, and then gradually breaking down and being metabolized by the body.
The bioabsorbable stents market encompasses various stakeholders, including medical device manufacturers, healthcare professionals, regulatory authorities, research institutions, and patients. The market focuses on the development of innovative stent designs, advancements in bioabsorbable materials, clinical trials to assess their safety and efficacy, regulatory approvals, and the commercial distribution of these stents worldwide. The primary goal of the bioabsorbable stents market is to provide an alternative treatment option for patients with coronary artery disease and other cardiovascular conditions, offering the potential benefits of reduced long-term complications associated with permanent metallic stents. The market aims to improve patient outcomes, minimize the need for long-term medication, and enhance post-procedural recovery.
Market Dynamics of the Bioabsorbable Stents Market
Bioabsorbable stents, also known as biodegradable stents, are designed to be gradually absorbed by the body over time. Unlike traditional metallic stents, they do not permanently remain in the arteries. This feature reduces the risk of long-term complications such as in-stent restenosis (re-narrowing of the artery) and thrombosis (blood clot formation), which can occur with metallic stents. Clinical studies have shown that bioabsorbable stents can achieve similar short-term outcomes compared to metallic stents in terms of improving blood flow and preventing major adverse cardiac events. Additionally, bioabsorbable stents have demonstrated improved long-term outcomes by allowing the treated artery to regain its natural function and flexibility once the stent is absorbed.
Bioabsorbable stents are typically deployed using minimally invasive techniques, such as percutaneous coronary intervention (PCI) or angioplasty, which involve inserting a catheter through a small incision. As patients and healthcare providers increasingly prefer minimally invasive procedures, the demand for bioabsorbable stents has grown. Cardiovascular diseases, including coronary artery disease and peripheral artery disease, remain a leading cause of mortality and morbidity worldwide. Factors such as sedentary lifestyles, unhealthy diets, and aging populations contribute to the increasing incidence of these diseases. Bioabsorbable stents provide an effective treatment option for these conditions, driving the demand for such devices.
Restraining Factor:
Although bioabsorbable stents have shown promising results in clinical studies, the long-term data on their safety and efficacy is still evolving. Some concerns have been raised regarding the potential for late stent thrombosis and delayed healing in certain patient populations. The limited clinical evidence, especially compared to the extensive data available for metallic stents, can create a level of uncertainty and hesitation among healthcare providers.
Bioabsorbable stents tend to be more expensive than traditional metallic stents. The complex manufacturing processes, specialized materials, and innovative technology involved in creating bioabsorbable stents contribute to their higher cost. This can be a significant restraint, as healthcare systems and patients may be hesitant to bear the additional financial burden associated with these devices.
Bioabsorbable stents may not be readily available or accessible in all healthcare settings. Their adoption and availability can vary geographically, with some regions having limited access to these devices. This may be due to regulatory restrictions, limited distribution networks, or slower adoption rates by healthcare providers. Limited availability can hinder the widespread adoption of bioabsorbable stents and restrict market growth.
Current Trends on Bioabsorbable Stents:
Manufacturers and researchers are continuing to focus on enhancing the clinical outcomes of bioabsorbable stents. This includes refining the stent design, optimizing drug delivery mechanisms, and developing better strategies to promote vessel healing and minimize the risk of complications such as late stent thrombosis. Innovations in bioabsorbable materials are ongoing to improve the mechanical properties and performance of stents. Researchers are exploring new materials and composite structures that offer better radial strength, flexibility, and controlled degradation rates, ensuring optimal stent performance during the healing process.
Researchers are investigating the potential of combining bioabsorbable stents with other therapies to further enhance their efficacy. For example, drug-eluting bioabsorbable stents can be used in conjunction with bioactive coatings or local drug delivery systems to improve drug release kinetics and promote vessel healing. The concept of personalized medicine is gaining attention in the field of bioabsorbable stents. Tailoring stent selection and treatment strategies based on individual patient characteristics, such as vessel size, lesion complexity, and patient comorbidities, can optimize outcomes and reduce complications. While bioabsorbable stents have primarily been used in coronary artery disease, there is growing interest in their application in peripheral artery disease. Peripheral bioabsorbable stents could provide an alternative to metallic stents in treating narrowed arteries in the legs, improving long-term outcomes and minimizing the need for re-interventions.
Impact of the COVID-19 Pandemic on the Bioabsorbable Stents Market:
The pandemic led to disruptions in global supply chains, affecting the production and distribution of medical devices, including bioabsorbable stents. Restrictions on international trade, closure of manufacturing facilities, and logistical challenges disrupted the supply chain, leading to delays in product availability and potential shortages.
During the height of the pandemic, many hospitals and healthcare facilities had to prioritize resources for COVID-19 patients, resulting in the postponement or cancellation of non-urgent or elective procedures, including those involving bioabsorbable stent implantation. This significantly impacted the demand for bioabsorbable stents and resulted in a decline in procedural volumes. Fear of contracting the virus and restrictions on movement led to a decrease in patient visits to hospitals and clinics for routine check-ups and follow-ups. This reduction in patient flow contributed to a decline in the number of bioabsorbable stent procedures being performed.
The economic impact of the pandemic affected healthcare systems and patients alike. Hospitals faced financial challenges due to increased expenditures and reduced revenue from elective procedures. Additionally, patients may have faced financial constraints, resulting in a decrease in the demand for bioabsorbable stents and other medical interventions. The pandemic necessitated a shift in healthcare resources toward COVID-19 research, diagnosis, and treatment. This diverted attention and resources away from other medical areas, including the development and adoption of bioabsorbable stents.
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Competitive Landscape includes company profiling of the key manufacturers listed below. It also provides the key developments such as new product launches, expansion, mergers & acquisitions, partnerships, agreements, joint ventures, business overview, key strategies and financial analysis associated with the key players. Strategy implemented to overcome the COVID-19 Impact will be discussed in the report scope. Key players Financials includes Revenue (USD Million), Gross Margin (%) and Market Share (%) (2019- 2023), S.W.O.T Analysis, (To read more request the sample pages Or speak to analyst/author directly).
Top Companies Market Share in Bioabsorbable Stents Industry: (In no particular order of Rank)
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North America held the largest revenue market share in 2022:
North America has a significant market share throughout the forecast period. Due to the rising prevalence of cardiovascular disease, the presence of sophisticated healthcare infrastructure, the rise in the number of novel bioabsorbable stents receiving approval, and the presence of significant market players, North America accounted for a sizable portion of the global market for bioabsorbable stents and is predicted to maintain its dominance during the forecast period. Further factors driving the market's expansion include rising coronary artery disease prevalence, an increase in the number of hospitals with patients who have the condition, a surge in R&D activities in the healthcare industry, improvements to the system's infrastructure, and the presence of significant players who do business in the area.
The current report Scope analyzes Bioabsorbable Stents Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
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Global Bioabsorbable Stents Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Bioabsorbable Stents Industry growth. Bioabsorbable Stents market has been segmented with the help of its Material, Application Absorption rate, and others. Bioabsorbable Stents market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
Based on present and future trends, the market size is estimated from 2019 to 2031. Moreover, study also provides quantitative and qualitative analysis of each type to understand the driving factors for the fastest growing type segment for Bioabsorbable Stents market.
Material of Bioabsorbable Stents analyzed in this report are as follows:
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In 2022, the coronary artery diseases segment accounted for the largest market share:
The market is divided into coronary artery diseases and peripheral artery disorders based on application. The largest portion of the market was accounted for by coronary artery diseases. The aging population's greater susceptibility to coronary artery disease and the adoption of poor lifestyle behaviors that raise risk are some of the factors responsible for this segment's dominance. Coronary artery disease (CAD) refers to the narrowing or blockage of the coronary arteries, which are responsible for supplying oxygen-rich blood to the heart muscle. It is a common form of heart disease and can lead to serious complications such as heart attacks and heart failure.
One of the treatment options for CAD is the use of stents. Stents are small, expandable mesh-like tubes that are inserted into the affected coronary arteries to help keep them open. Traditional stents are typically made of metal (usually stainless steel) and provide structural support to the artery walls. Bioabsorbable stents, also known as bioresorbable or biodegradable stents, are newer types of stents that offer several advantages over traditional metal stents. These stents are designed to gradually dissolve and be absorbed by the body over time, leaving behind only the healed artery.
The main advantage of bioabsorbable stents is that they eliminate the long-term presence of a permanent implant in the artery. Metal stents can cause complications such as late stent thrombosis (blood clot formation) and in-stent restenosis (re-narrowing of the artery) due to the body's reaction to foreign material. Bioabsorbable stents, on the other hand, avoid these issues by eventually disappearing, allowing the artery to return to its natural state. Bioabsorbable stents are typically made from a special type of polymer that is biocompatible and biodegradable. The most commonly used polymer is polylactic acid (PLA) or its copolymer poly-L-lactic acid (PLLA). These materials have been extensively studied and approved for medical use.
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Research Associate at Cognitive Market Research
Anushka Gore is a seasoned market researcher specializing in the dynamic landscape of the Pharmaceutical industry. With a keen analytical mind and a deep passion for healthcare advancements, she has dedicated herself unraveling the intricate market trends and consumer behaviors that shape the future of medical technologies and services.
Anushka Gore is a seasoned market researcher specializing in the dynamic landscape of the medical devices & consumables industry. She has dedicated herself unraveling the intricate market trends and consumer behaviors that shape the future of medical technologies and services. Her expertise in Market Research and business intelligence has equipped her with the skills necessary to analyze complex information and provide strategic recommendations.
In her current role, Anushka is a highly motivated and detail-oriented research analyst with a passion for uncovering valuable insights from data. She thrives in dynamic environments where her analytical abilities and research expertise can contribute to informed decision-making for businesses. Her collaborative approach facilitated effective communication of insights, fostering a data-driven culture within the organization.Anushka remains an invaluable asset in the dynamic landscape of market research.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Bioabsorbable Stents Market is witnessing significant growth in the near future.
In 2023, the Bioresorbable polymer-based stents segment accounted for noticeable share of global Bioabsorbable Stents Market and is projected to experience significant growth in the near future.
The Coronary Artery Diseases segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Boston Scientific Corporation , Medtronic Plc and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Material | Bioresorbable polymer-based stents, Bioresorbable metallic stents, By Absorption Rate, Slow-absorption stents, Fast-absorption stents |
Application | Coronary Artery Diseases, Peripheral Artery Diseases |
Absorption rate | Slow-absorption stents, Fast-absorption stents |
End-user | Hospitals, Cardiac Centers |
Biomaterial | Polymeric Stents, Metallic Stents |
List of Competitors | Boston Scientific Corporation, Meril Life Sciences Pvt. Ltd., Medtronic Plc, Smith & Nephew Plc, Stryker Corporation, Wright Medical Group, KLS Martin, BIOTRONIK Ltd, Syntellix AG, Q3 Medical Devices Limited., JW Medical Systems LTD, ORBUSNEICH MEDICAL, Abbott Vascular |
This chapter will help you gain GLOBAL Market Analysis of Bioabsorbable Stents. Further deep in this chapter, you will be able to review Global Bioabsorbable Stents Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
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Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Material Analysis 2019 -2031, will provide market size split by Material. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Material Analysis 2019 -2031
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Chapter 11 Market Split by Application Analysis 2019 -2031
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Chapter 12 Market Split by Absorption rate Analysis 2019 -2031
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Chapter 13 Market Split by End-user Analysis 2019 -2031
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Chapter 14 Market Split by Biomaterial Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Bioabsorbable Stents market
Chapter 15 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Bioresorbable polymer-based stents have a significant impact on Bioabsorbable Stents market? |
What are the key factors affecting the Bioresorbable polymer-based stents and Bioresorbable metallic stents of Bioabsorbable Stents Market? |
What is the CAGR/Growth Rate of Coronary Artery Diseases during the forecast period? |
By type, which segment accounted for largest share of the global Bioabsorbable Stents Market? |
Which region is expected to dominate the global Bioabsorbable Stents Market within the forecast period? |
Segmentation Level Customization |
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