The global bioabsorbable stents market is expected to reach USD 2.4 Billion by 2021 from USD 0.4 Billion by 2016, at a CAGR of 42.5% during the forecast period. The major driving factors are the increasing focus of the companies on clinical trials of bioabsorbable stents, increasing aging population, technological advancements, and patients' preference for minimally invasive therapies. However, factors such as the high prices of these stents may hamper the growth of the market.
Based on material, the market is segmented into polymer stents, and metallic stents. The polymeric stents segment is expected to grow at the highest CAGR. This is attributed to the various facts such as polymer-based bioabsorbable stents comprise PLLA polymers that are naturally biodegradable. These stents have a polymer coating of poly-D,L-lactide, which enables the controlled release of various drugs.
By absorption rate, the market is sub-segmented into slow absorbable stents and fast absorbable stents. In 2016, slow absorbable stents is expected to account for the largest share of the absorption rate. The slow rate of absorption enables the longer duration of drug release within the arteries. This ensures efficient healing. These factors may enable the market to witness significant growth in the future.
Based on application, the market is segmented into coronary artery disease and peripheral artery disease. In 2016, the coronary artery disease segment is expected to grow at the highest CAGR during the forecast period. The high growth of this segment is attributed to the factors such as increasing focus of companies towards developing bioabsorbable stents that can be used in coronary procedures and growing patient preference for minimally invasive surgical procedures.
Based on end user, the market is segmented into hospitals and cardiac centers. The hospital segment is expected to dominate the market and grow at the highest CAGR during the forecast period. The high growth of this segment is attributed to the increasing patient pool and the rise in CAD and PAD prevalence, and initiatives and support programs to provide cost-effective and quality treatments to patients will enhance the affordability of a number of medical devices, including bioabsorbable stents.
- Abbott Laboratories
- Amaranth Medical, Inc.
- Arterial Remodeling Technologies S.A.
- Arterius Limited
- Elixir Medical Corporation
- Kyoto Medical Planning Co., Ltd.
- Meril Life Sciences
- Reva Medical, Inc.
- Tepha, Inc.
- Xenogenics Corporation
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Regulatory Scenario
7 Bioabsorbable Stents Market, Pipeline Products
8 Bioabsorbable Stents Market, by Material
9 Bioabsorbable Stents Market, by Absorption Rate
10 Bioabsorbable Stents Market, by Drug
11 Bioabsorbable Stents Market, by Application
12 Bioabsorbable Stents Market, by End User
13 Bioabsorbable Stents Market, by Region
14 Competitive Landscape
15 Company Profiles
For more information about this report visit http://www.researchandmarkets.com/research/6p8nwv/bioabsorbable
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SOURCE Research and Markets