About Bioabsorbable Stents
A stent is a small mesh tube (mesh-like material with space in it) that is used to treat blockages in the arteries in the heart. The stent plays an important role in the medical field of cardiology. These devices are generally made of metal or plastic tubing that is attached to the lumen of an anatomical vessel to keep it open for blood flow. Arteries of the heart are made up of blood vessels that carry blood from the heart to other parts of the body. Stents are placed in the artery to clear blockages in the heart during a surgical procedure called percutaneous coronary intervention. Stents help keep the arteries open and reduce the risk of heart attacks. Traditionally, stents are made of metal mesh and remain in the body permanently until they are removed by surgery. Today bioabsorbable stents, also known as biodegradable stents, are made of materials that dissolve or absorb in the body. Bioabsorbable stents (BAS) / bioabsorbable polymer-based stents are made of materials that can be completely dissolved or absorbed by the body. These are used for both peripheral and coronary heart diseases. Most bioabsorbable stents are made from polylactic acid, a naturally soluble material. However, the polymer materials such as polycarbonates, polyesters, corrodible metals, and bacteria-derived polymers are being studied to develop the next generation bioabsorbable stents. The risk of in-stent restenosis with drug-eluting and metallic stents (DES) has increased the need for bioabsorbable stents. BAS has a comparatively low rate of late stent thrombosis (LST) as well as restenosis, which has thereby led to the acceptance of BAS for clinical purposes.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Bioabsorbable Stents market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Abbott Vascular (United States), Boston Scientific (United States), BIOTRONIK SE & Co. KG (Germany), REVA Medical, Inc. (United States), Kyoto Medical Planning Co., Ltd (Japan), Arterial Remodeling Technologies (France), Arterius Limited (United Kingdom), Terumo Corporation (Japan), Amaranth Medical, Inc. (United States) and ELLA - CS, s.r.o. (Czech Republic) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Meril Life Sciences Pvt. Ltd. (India) and Lepu Medical Technology Co., Ltd. (China).
Segmentation Overview
AMA Research has segmented the market of Global Bioabsorbable Stents market by Type (Bioresorbable Polymer-Based Stents [Poly-L-Lactic Acid, Polyglycolic Acid, Polycaprolactone] and Bioresorbable Metallic Stents [Magnesium, Iron]), Application (Coronary Artery Diseases and Peripheral Artery Diseases) and Region.
On the basis of geography, the market of Bioabsorbable Stents has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Absorption Rate, the sub-segment i.e. Slow- Absorption Stents will boost the Bioabsorbable Stents market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Hospitals will boost the Bioabsorbable Stents market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Preference for Minimally Invasive Surgical Procedures and Increasingly Focusing On Developing Stents That Are Efficient, Can Be Fully Absorbed Into the Body, and Can Naturally Restore the Movement of the Artery
Market Growth Drivers:
A High Prevalence of Cardiovascular Diseases, Steep Increase in the Aging Population, The Expanding Base of the Obese Population, Rising PCI Procedures and The Increased Usage of Bioabsorbable Stents
Challenges:
Safety Issues Related To Bioabsorbable Stents and Various Other Substitutes Available For Treating Blocked Arteries
Restraints:
Stringent Regulatory Scenario and High Device Cost
Opportunities:
Rising Demand for Technologically Advanced Treatment Options and Growing Development of Health Care Infrastructure Along With Increase in Health Care Spending
In 2016, Abbott had received approval from the Ministry of Health, Labor and Welfare (MHLW) in Japan for its product- Absorb bioresorbable heart stent
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Providers of Bioabsorbable Stents, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End-Use Industry
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.