The Global Biodegradable Stents Market, by Product Type (Coronary Stents and Peripheral Stents), by Material Type (Polymer-based Stents and Metallic Stents), by End User (Hospitals, Specialty Clinics, and Ambulatory Surgical Centers) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 278.6 million in 2018, and is projected to exhibit a CAGR of 15.6% over the forecast period (2018 – 2026) as highlighted in a new report published by Coherent Market Insights.
Biodegradable stents are fully degradable mesh like network used for the treatment of blockage in arteries or guts or biliary ducts. According to Transcatheter Cardiovascular Therapeutics (TCT) and American College of Cardiology (ACC) the adoption of stents is expected to shift from conventional metallic stents to bioresorbable stents, boosting the biodegradable stents market growth.
Biodegradable stents market is expected to gain trajectory growth, owing to increasing number of approved products in market. For instance in 2016, Abbott Laboratories received approval for Absorb bioresorbable heart stent in Japan indicated for treatment of coronary artery disease. In same year, Biotronik received CE approval for Magmaris, a bioresorbable scaffold. The product offers easier delivery and more strength resisting inward forces once deployed. In 2015, Boston Scientific received FDA approval for Synergy, first bioresorbable stent to unblock clogged arteries via drug elution. In June 2018, REVA medical, Inc., received CE approval for Fantom Encore Product line, which comprises of third generation coronary bioresorbable scaffold. Furthermore, company is also planning to expand its presence in Europe, Middle East, and South America via distribution partnership. In same month, AMG International received CE approval for Archimedes, a biodegradable stent for treatment of obstructive biliary and pancreatic disorders. Such recent product approval are expected to boost the market growth in near future.
Browse Market Data 32 Tables and 30 Figures spread through 150 Pages and in-depth TOC on " Biodegradable Stents Market, by Product Type (Coronary Stents and Peripheral Stents), by Material Type (Polymer-based Stents and Metallic Stents), by End User (Hospitals, Specialty Clinics and Ambulatory Surgical Centers) and by Region - Global Forecast to 2026”
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As of 2017, Abbott was the only company which has approval for completely bioresorbable stents. This offers wide opportunity for the market players as well as new entrant to come up with new fully degradable biodegradable stents to surpass the market. For instance, according to article published in Springer Healthcare, 2013, REVA and ABSORB are the ongoing clinical trials of completely biodegradable stents.
Key Takeaways of the Biodegradable Stents Market:
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