Bioabsorbable Stents Global Market Report 2023

NEW YORK, Feb. 8, 2023 /PRNewswire/ -- Major players in the bioabsorbable stents market are Abbott Laboratories, Reva Medical, Elixir Medical Corporation, Biotronik SE & Co. KG, Amaranth Medical Inc., Zorion Medical, Tepha, Inc., S3V Vascular Technologies, ICON Interventional Systems, and Arterius Limited.

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The global bioabsorbable stents market is expected to grow from $0.29 billion in 2021 to $0.31 billion in 2022 at a compound annual growth rate (CAGR) of 8.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The bioabsorbable stents market is expected to grow to $0.45 billion in 2026 at a CAGR of 9.5%.

The bioabsorbable stents market consists of sales of polymer-based bioabsorbable stents and metal-based bioabsorbable stents.Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.

The value of goods in this market includes related services sold by the creators of the goods.

Bioabsorbable stents are tubes inserted into blood vessels to unblock passageways and dissolve in the body after a period of time.

North America was the largest region in the bioabsorbable stents market in 2022.Western Europe was the second largest region in the bioabsorbable stents market.

The regions covered in bioabsorbable stents market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The main products of bioabsorbable stents are polymer-based bioabsorbable stents and metal-based bioabsorbable stents.Bioresorbable stents (BRS) or vascular scaffolds are coronary stents that can fully dissolve in the body.

It is also segmented by absorption rate into slow-absorption stents and fast-absorption that are used in various applications such as coronary artery diseases, and peripheral artery diseases.

Increasing cardiovascular diseases is a key factor driving the growth of the bioabsorbable stents market.Cardiovascular disorders are the leading cause of death across the world and 4 out of 5 cardiovascular deaths are caused by strokes and heart attacks.

Moreover, one-third of such deaths occur prematurely in people under the age of 70.Bioresorbable stents are built primarily to reduce these risks of late complications, such as scaffold thrombosis or restenosis, that can happen when a conventional metal stent's rigid metal backbone remains permanently rooted in the diseased vessel.

According to the American Heart Association, it is estimated that more than 23.6 million die due to cardiovascular diseases by 2030. Therefore, increasing cardiovascular diseases are expected to drive the growth of the bioabsorbable stents market.

The risks associated with bioabsorbable stents restrain the growth of the market.The high risks with stents force companies to withdraw their devices from the market reducing the revenues from bioabsorbable stents.

For instance, Abbott had to withdraw its product Absorb and Boston Scientific terminated their Renuvia scaffold development program as the devices showed a high risk of myocardial infarction and thrombosis. This was due to the non-uniform structure of the polymer used in the stents that makes the device susceptible to large deformation and causes flow disruption.

The drug-eluting stent (DES) is gaining significant popularity in the bioabsorbable stents market.The drug-eluting stent (DES) device was designed to avoid the regeneration of tissue that would otherwise obstruct the artery and this was a new step forward in the treatment of peripheral artery disease.

Boston Scientific launched its self-expanding drug-eluting stent (DES) peripheral artery disease (PAD) scheme which helped the company to expand its PAD portfolio.

The countries covered in the bioabsorbable stents market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).

The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.

The bioabsorbable stents market research report is one of a series of new reports that provides bioabsorbable stents market statistics, including bioabsorbable stents industry global market size, regional shares, competitors with a bioabsorbable stents market share, detailed bioabsorbable stents market segments, market trends and opportunities, and any further data you may need to thrive in the bioabsorbable stents industry. This bioabsorbable stents market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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