NEW YORK, Aug. 28, 2017 /PRNewswire/ -- The global bioresorbable stents market is expected to reach USD 417.2 million by 2022 from USD 223.6 million in 2016, at a CAGR of 11.5% during the forecast period. Growing aging population susceptible to coronary and peripheral artery diseases, rising PCI procedures, increasing focus of companies on clinical trials of bioresorbable stents, increasing adoption of these stents by physicians and patients, and patients' preference for minimally invasive therapies are factors that are expected to drive the market growth in future. However, the presence of substitutes may restrain the market growth for bioresorbable stents to some extent.
"The coronary artery diseases segment is expected to grow at the highest CAGR during the forecast period"
Based on application, the market is segmented into coronary artery diseases and peripheral artery diseases. In 2017, coronary artery diseases are expected to grow at the highest CAGR during the forecast period. This positive growth is attributed to factors such as rising aging population prone to coronary artery diseases and the adoption of unhealthy lifestyle habits leading to increased risk of these diseases.
"Hospitals to dominate the global bioresorbable stents market in 2017"
Based on end users, the market is segmented into hospitals and cardiac centers. The hospitals segment is expected to dominate the market. The dominance of this segment is attributed to the increasing need of surgeries, growing risk of CAD and PAD, and improved reimbursement scenario for hospitals.
"North America to witness high growth during the forecast period"
In 2017, Europe is expected to account for the largest share of the global bioresorbable stents market. The dominance of European region is attributed to factors like increasing regulatory approvals for stents which will facilitate their commercialization and rising research activities for development of bioresorbable stents. Also, North America is expected to register the highest CAGR during the forecast period. The high growth in this regional segment is attributed to the increasing prevalence of CAD and PAD, patient preference for minimally invasive therapies, unhealthy lifestyle habits, and huge patient pool are enabling this market to grow in this region.
The primary interviews conducted for this report can be categorized as follows:
• By Company Type: Tier 1 – 30%; Tier 2 - 45%; Tier 3 - 25%.
• By Designation (Supply Side): C-level- 25%; D-level- 30%; Others- 45%.
• By Region: North America–45%; Europe-35%; Asia-12%; RoW-8%.
List of companies profiled in the report:
• REVA Medical, Inc.
• Elixir Medical Corporation
• KYOTO MEDICAL PLANNING Co., Ltd.
• Amaranth Medical, Inc.
• Arterial Remodeling Technologies
• Meril Life Sciences
• Arterius Limited
• Lepu Medical Technology Co., Ltd.
• Boston Scientific Corporation
• 480 Biomedical
• S3V Vascular Technologies
The report provides an overview of the global bioresorbable stents market. It aims at estimating the market size and future growth potential of this market across different segments such as material, absorption rate, application, end users, and region. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, recent developments, and key market strategies.
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