Bioresorbable Vascular Scaffold Market
Bioresorbable vascular scaffold (BVS) is a nonmetallic mesh tube, which is used to treat blocked arteries. It is similar to a stent but gradually dissolves once the blocked artery starts functioning naturally again, enabling the artery to return to its natural state. The scaffold disappears in around 12-24 months and supports the vessel until it gain its full function. BVS is designed to help open up a blocked artery in the heart and restore blood flow to the heart muscle. It is used by patients who are suffering from different types of cardiovascular diseases. Some of the commonly used BVS for cardiac procedures include Poly-L-Lactide (PLLA) bioresorbable scaffold, metallic bioresorbable scaffold, and hybrid bioresorbable scaffold.
Market Dynamics
Increasing demand for bioresorbable vascular scaffold owing to high prevalence of coronary heart disease, ischemic heart disease, and other cardiovascular diseases is expected to drive market growth. According to American Heart Association Council, in 2015, cardiovascular disease was the leading cause of death in the world, accounting for over 17.9 million deaths per year globally, and this number is expected to increase to over 23.6 million by 2030. From the same source, cardiovascular diseases accounted for nearly 836,546 deaths in the U.S. in 2015, which is about 1 of every 3 deaths.
Moreover, key players are opting for different strategies such as new product launches, FDA approvals, partnerships, and collaborations to increase its foothold in the market. For instance, in July 2016, Abbott received the U.S. Food and Drug Administration approval for Absorb bioresorbable heart stent. This device is first-of-its-kind medical device with fully dissolving heart stents. This device will be available to treat people with coronary artery disease in the U.S.
However, preference for vascular graft devices for angioplasty and coronary artery diseases is one of the major factors restraining growth of the global bioresorbable vascular scaffold market. Furthermore, stringent regulatory scenario has also obstructed growth of the market.
Key features of the study
Market Segmentation
Table of Contents
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