Bioabsorbable Stents Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026

  • To Be Published : Jul 2019 |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Bioabsorbable stents are the new advancements in the stents technology also termed as bioresorbable stents or biodegradable stents. It is the device which is inserted into the blood vessel or internal duct to expand the blood vessel preventing its blockage. Traditionally the stents used are of metal type, the new bioabsorbable stents are made up of soluble materials. The traditional metal stents used to remain in the body for longer period or permanently restricting the vessel motion of patient implanted with the stent. The advantages of bioabsorbable stents over the conventional drug eluting stents (DES) are that they eliminate the risk of potential inflammation, late stent thrombosis, and restenosis. Once the bioabsorbable stent is dissolved, it restores the vessel to a natural state of vasodilatation and vasoconstriction.

The rising prevalence of late stent thrombosis is propelling the growth of bioabsorbable stents market

The increase in prevalence of cardiovascular diseases globally is the major driving factor for the growth of bioabsorbable stents market. Additionally, increase in risk of late stent thrombosis, and restenosis due to use of conventional drug eluting stents is stimulating the use of new advanced biodegradable stents which degrades after a period. According to American Heart Association (AHS) in 2008, the mortality rate due to late stents thrombosis was around 45%. The other factors contributing to the growth of bioabsorbable stents market includes, increase in number of geriatric population who are more prone to strokes and cardiovascular diseases requiring stents implant, technological up gradation in stents, and rising adoption rate of bioabsorbable stents. Lack of exercises, unhealthy habits, and change in lifestyle are some of the factors leading to chronic diseases and may require the stents implantation for treatment, contributing to the growth of bioabsorbable stents market. However, stringent government policies and regulations, and high cost of this stents are the restraints which might hamper the growth of bioabsorbable stents market.

Magnesium bioabsorbable stents are most widely used stents in disease management due to its high solubility

The global bioabsorbable stents market is segmented by diseases type, by material, by absorption rate, by end users and by region

 On the basis of disease type, the bioabsorbable stents market is segmented into

  • Coronary artery disease
  • Peripheral artery disease

On the basis of material, the bioabsorbable stents market is segmented into

  • Polymer
  • Metal
  • Iron
  • Magnesium

On the basis of absorption rate, the bioabsorbable stents market is segmented into

  • Slow absorption rate
  • Fast absorption rate

On the basis of end-users, the bioabsorbable stents market is segmented into

  • Cardiac centers
  • Hospitals
  • Ambulatory surgical centers

Rising number of patient population with cardiovascular diseases is contributing to the domination of North America in bioabsorbable stents market

Regional segmentation of bioabsorbable stents market by Coherent Market Insights comprises of North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America dominates the bioabsorbable stents market due to the rising prevalence of cardiovascular diseases in this region. For instance, the data given by World Health Organization (WHO) shows that in 2015, 31% of deaths in United States were due to cardiovascular diseases. Whereas growing awareness about the bioabsorbable stents in Asia Pacific is helping to propel the growth of bioabsorbable stents market in this region.

The industry players are collaborating with other companies to hold the maximum share in bioabsorbable stents market

Key industry players operating the bioabsorbable stents market includes STENTYS SA, Abbott laboratories, Biotronik, Elixir Medical Corporation, Reva Medical Incorporated, Kyoto Medical Planning Cooperative Limited, Amaranth Medical Incorporated, Boston Scientific Co., and Microsoft scientific corporation. The major industry players are adopting the strategies such as agreements and collaborations with other companies to hold the major share in the bioabsorbable stents market. For instance, the acquisition of STENTYS SA and Cappella Peel Away Inc. in 2014. That helped STENTYS SA Company to enhance the drug delivery system of stents. The mergers and acquisitions in the bioabsorbable market by players helping the healthcare system.

Research Methodology

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  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
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Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.
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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
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  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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