The global Bioabsorbable Stents market is anticipated to grow at a CAGR of 11.5% during the forecast period (2021-2027). The key factor driving the growth of the market is the increasingly high rate of obesity in various countries that are giving rise to the risk of heart failure or cardiac arrest among the people. For instance, as per data from the Framingham Heart Study, an increase in Body Mass Index (BMI) of 1 kg/m2 increases the risk of heart failure by 5% in men and 7% in women. Also, according to studies on heart failure, 32%–49% of people suffering from heart failure are obese, while, 31%–40% are overweight. The period of severe obesity is closely related to the growth of heart failure: after 20 years of obesity, the prevalence of heart failure rises by 70%, and after 30 years, it rises by 90%.
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Rising acquisitions, product approval, collaborations among the major players in the market also propel the growth of the market. For instance, in September 2020, Abbott Laboratories Inc announced that the LIFE-BTK clinical trial has officially started to assess the safety and efficacy of the company’s new Esprit BTK Everolimus Eluting Resorbable Scaffold System. This will be the first Investigational Device Exemption (IDE) trial in the US to assess a fully bioresorbable stent to cure blocked arteries below the knees, also known as critical limb ischemia (CLI), in patients with advanced peripheral artery disease (PAD). The device creates a strong scaffold structure and delivers anti-proliferative drugs before dissolving and not disrupting with future interventions, surgery, or imaging.
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Market Coverage
- The market number available for – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
- Segment Covered-
- By Type
- By Application
- By End-User
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Arterical Remodeling Technologies S.A, Reva Medical LLC., B. Braun SE, Biotronik Inc, Kyoto Medical Planning Co.Ltd.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Bioabsorbable Stents Market Report Segment
By Polymer Type
- Poly (L-Lactic Acid) PLLA
- Tyrosine Polycarbonate Polymer
- Poly (Caprolactone) (PCL)
- Poly (Anhydride Ester) Salicylic Acid
By Application
- Coronary Artery Diseases
- Peripheral Artery Diseases
- Others
By End-User
- Hospitals
- Research Centers
- Cardiac Centers
- Others
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