Bioabsorbable stents function like normal medical stents. The main difference between regular stents and bioabsorbable stents is the material which is used in their manufacturing; bioabsorbable stents use material which is easily absorbed in the body.
The growth of the global bioabsorbable stents market is influenced by factors such as rise in cardiovascular surgeries on a global scale, lower treatment cost, and exact stent placement. These factors are reinforced with technological developments, which are again intensifying thereby fuelling the growth of the global bioabsorbable stent market. However, there are certain limiting factors which offer challenge to the growth of the global market, such as possibilities of complications during insertion or post surgery and less awareness about bioabsorbable stents.
The global bioabsorbable stents market is poised to reach a value of around US$ 350 Mn by the end of 2022 and is anticipated to grow at a robust CAGR during the period of forecast of 2017 to 2022.
Forecast Highlights on Global Bioabsorbable Stents Market
By product type, polymeric stents segment is expected to dominate the global market. As of 2017 statistics, this segment reflected a higher market share of 57.6% thus portraying dominance and is expected to continue to dominate the global market throughout the forecast period; Polymeric-coated metallic stents product segment is anticipated to reflect the highest growth rate to register an exponential CAGR of 12.2% throughout the period of forecast 2017-2022. This segment is also poised to gain the highest BPS by the end of 2022; Europe region is the most lucrative region and dominates the global market. This region is poised to grow at a significant CAGR during the forecast period. North America region is anticipated to show the highest growth rate to register a CAGR of 10.2% throughout the period of forecast of 2017-2022
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Hospitals segment by end user shows higher market share of 62.1% and also grows at a higher growth rate during the forecast period. Following this segment, cardiac catheterization labs segment has secured second place with respect to market share and growth rate throughout the forecast period of 2017 to 2022; Coronary artery disease segment by disease indication is anticipated to grow at a significantly higher growth rate to register a CAGR of 10% and also poised to hold higher market share thereby dominating the global market. This segment is also expected to gain higher BPs by the end of 2022; Slow absorption rate segment by absorption rate is poised to register a CAGR of 10.3% throughout the period of forecast of 2017 to 2022 and also portrays dominance by reflecting a higher market share during the forecast period
The report has also profiled key leading players in the global bioabsorbable stents market, which would remain active through 2022. These include players like Lepu Medical Technology (Beijing) Co., Ltd., Becton Dickinson and Company, Boston Scientific Corporation, Kyoto Medical Planning Co., Ltd., Tepha, Inc., REVA Medical, Inc., Elixir Medical Corporation, BIOTRONIK SE & Co. KG, Amaranth Medical, Inc., and Abbott Laboratories.