The global bifurcation lesions market is expected to reach USD 2.8 billion by 2025, growing at a CAGR of 5.6%, according to a new report by Grand View Research, Inc. Technological developments and supportive government initiatives for reimbursement are likely to drive the market during the forecast period.
Increasing geriatric population and unhealthy lifestyle are responsible for growth in incidence of cardiovascular disorders. Furthermore, increase in approval & commercialization of innovative devices and expected entry of new devices for treatment of bifurcation lesions in the coming years are likely to drive the market.
In addition, rising affordability, increase in demand for minimally invasive procedures, and growing medical tourism are also boosting demand for bifurcation lesions procedures across the globe. According to various studies, procedures for coronary bifurcation lesions comprise approximately 20% of total percutaneous coronary interventions.
Acrylics are expected to emerge as the fastest growing adhesives, with over 4% CAGR owing to its excellent bonding strength along with humid and impact resistance. The segment is expected to witness growth owing to increasing passenger cars sales in emerging economies.
Body-in-white is expected to witness high growth rate over the forecast period owing to the increasing popularity of high performance adhesion solutions in vehicles, which helps in reducing overall weight, thereby saving the fuel consumption.
As per OICA statistics, passenger car sales grew by about 4.5% from 2015 to 2016; this rise may be attributed to rising disposable income in emerging economies, renewed production levels in recovering developed markets and technological advancements at the OEM level. Passenger car segment is thus likely to remain dominant for both.
Greater China is expected to remain the industry's high growth region from 2017 to 2021, owing to a spurt in automobile production levels and encouraging conditions such as low labor costs, high population and geographical proximity to emerging markets.
The industry is fragmented with few major players catering to the global market. Key participants include Bostik, BASF, Evonik Industries, AkzoNobel, Henkel, 3M Inc., Avery Dennison, DSM, Franklin Adhesives & Sealants, H.B. Fuller Co. and others.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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