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 2017-2022. Market growth of bioresorbable stents is attributed to the 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. However, factors such as the increasing product withdrawals due to severe complications of these stents may hamper market growth.
This report segments the global bioresorbable stents market into material, absorption rate, applications, end users, and region. On the basis of materials, the global bioresorbable stents market is segmented into bioresorbable polymer-based stents and bioresorbable metallic stents. The bioresorbable polymer-based segment is expected to dominate the market in 2017. The preference for bioresorbable polymer-based stents is rising in the market as companies are increasingly focusing on developing polymeric stents and approvals for polymer-based stents across various regions are driving the market.
Based on end users, the market is segmented into hospitals and cardiac centers. The hospitals segment is expected to dominate the market and grow at the highest CAGR of during the forecast period. The high growth in this segment is attributed to increasing need of surgeries, growing risk of CAD and PAD, and improving reimbursement scenario for the hospitals.
By absorption rate, the global bioresorbable stents market is segmented into slow-absorption stents and fast-absorption stents. In 2017, the slow-absorption stents segment is expected to account for the largest share of the market. The large share of this segment can be attributed to the advantages it offers such as the longer duration of drug release within the artery provided by these stents and the reduced need for stent re-implantation.
In 2017, Europe is expected to dominate the global bioresorbable stents market. Factors such as increasing regulatory approvals for stents which will facilitate their commercialization and rising research activities for development of bioresorbable stents in the region are expected to drive the growth of this regional segment.