Bioabsorbable Stents Market Analysis
Bioabsorbable Stents Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026
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
On the basis of material, the bioabsorbable stents market is segmented into
On the basis of absorption rate, the bioabsorbable stents market is segmented into
On the basis of end-users, the bioabsorbable stents market is segmented into
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.