PUNE, India, August 21, 2017 /PRNewswire/ --
According to a new market research report "Bioabsorbable Stent/Bioresorbable Scaffold Market by Material (Polymer/Metal), Absorption Rate (Slow, Fast), Application (Coronary Artery Disease/CAD, Peripheral/PAD) & End User (Hospital, Cardiovascular Center) - Global Forecasts to 2022", published by MarketsandMarkets™, the global 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.
Browse 73 Market Data Tables and 33 Figures spread through 138 Slides and in-depth TOC on "Bioabsorbable Stent/Bioresorbable Scaffold Market"
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The growth of the market is attributed to growing aging population susceptible to coronary and peripheral artery diseases, rising PCI procedures, increasing focus of companies on clinical trials of bioresorbable Stent, increasing adoption of these Stent by physicians and patients, and preference for minimally invasive therapies.
Bioresorbable polymer-based Stent projected to grow at the highest CAGR
Based on material, the market is segmented into bioresorbable polymer-based Stent and bioresorbable metallic Stent. The bioresorbable polymer-based Stent segment is expected to grow at the highest CAGR during the forecast period. The growth of this market is attributed to companies' increasing focus on developing polymeric Stent and approvals being granted for polymer-based Stent across various regions
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Based on applications, the coronary artery diseases are expected to dominate the market in 2017
Based on application, the market is segmented into coronary artery diseases and peripheral artery diseases. In 2017, coronary artery diseases accounted for the largest share of the market. The dominance of this segment is attributed to factors such as increasing aging population prone to coronary artery diseases and the adoption of unhealthy lifestyle habits leading to increased risk of these diseases.
Europe to dominate the market during the forecast period
In 2017, Europe is expected to account for the largest share of the market. The dominance of the European market is attributed to the factors such as increasing regulatory approvals for Stent which will facilitate their commercialization and rising research activities for development of bioresorbable Stent. In 2017, Asia is expected to hold the second largest share of this market.
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Factors such as, increasing industrial development, rising disposable income, burgeoning aging population with changing lifestyle (which have increased the prevalence of CAD), and the higher prevalence of diabetes are important factors to fuel the market growth in this region.
The bioresorbable Stent screening market is a niche market with the presence of several emerging players and few big players. Prominent players in the Bioresorbable Stent Market include Abbott (U.S.), BIOTRONIK SE & Co. KG (Germany), REVA Medical, Inc. (U.S.), Elixir Medical Corporation (U.S.), and Kyoto Medical Planning Co., Ltd. (Japan).
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