The global bioabsorbable stents market size was US$ 417.2 million in 2022 and is estimated to reach US$ 952 million by 2031, growing at a compound annual growth rate (CAGR) of 9.6% during the forecast period from 2023 to 2031.
A stent is a medical device used to enlarge blood vessels and keep them from being blocked. It is implanted into a body's internal duct. Bioabsorbable stents, sometimes referred to as bioresorbable stents or naturally dissolving stents, are constructed of substances that are absorbed by the body and work by dilating or widening internal ducts or blood channels to unclog blockages brought on by the buildup of plaque. These devices are made so that the stents disintegrate within the body at predetermined intervals after the medicine has been eluted.
Market Driving Factors
The global market is growing due to the rising frequency of cardiovascular disorders. For instance, a July 2021 article from the World Health Organization estimates that 17.9 million people worldwide pass away from heart disease each year. This amounts to 31% of global fatalities, and heart disease and stroke account for 85% of these fatalities. Due to the high prevalence of cardiovascular diseases and the deaths they cause, there will likely be a greater demand for early diagnosis and treatment, which will broaden the market under study.
The aging population, which is more susceptible to chronic illnesses like heart disease, is expected to increase market demand. In the period between 2015 and 2050, the percentage of people in the world who are 60 or older will nearly double from 12% to 22%, according to the World Health Organization Facts of October 2021. Eighty percent of the world's elderly people will reside in low- and middle-income nations by 2050. Every nation has substantial obstacles in making sure that its social and health systems are ready to benefit from this demographic transformation.
The demand for bioabsorbable stents will increase as the fat population expands. For instance, 39 million children under the age of five were overweight or obese in 2020, according to a report from the World Health Organization that was published in June 2021. In affluent nations where lifestyle-related illnesses like worry, stress, smoking, and drinking are increasingly common, obesity has been rising sharply over the past few decades and is frequently referred to as a global endemic.
However, throughout the projected period, the market will be constrained by strict regulatory constraints, high device costs, and safety concerns.
Segmentation Analysis
By Material Analysis
The Bioresorbable Polymer-Based Stents segment will dominate the market. Both the increased emphasis on creating polymeric stents and the rising number of polymer-based stent approvals across the globe can be linked to the causes.
According to a study titled "Safety and efficacy of the bioabsorbable polymer everolimus-eluting stent versus durable polymer drug-eluting stents in high-risk patients undergoing PCI: TWILIGHT-SYNERGY" published in the Catheterization and Cardiovascular Intervention in May 2020, in high-risk patients undergoing percutaneous coronary intervention (PCI), the safety and efficacy of bioabsorbable poly Therefore, it is projected that the excellent safety and efficacy of polymer-based bioabsorbable stents will spur sector expansion over the projection period.
By End-User Analysis
The hospital segment experienced the highest growth in 2022 and is predicted to take the lead in the near future. This is due to an increase in the incidence of cardiac disorders and the availability of numerous alternatives for treatment methods.
However, the cardiac center segment is anticipated to experience significant bioabsorbable stents market growth during the forecast period. This is due to the rise in coronary artery disease prevalence, the decline in the cost of post-operative cardiac care, and the rise in the life expectancy of patients with cardiac disease.
Regional Analysis
North America dominates the bioabsorbable stents market, and this dominance is likely to continue during the forecast period. Due to the dominance of the leading businesses operating on the international market, North America accounts for the biggest market share for bioabsorbable stents.
In addition, the region is experiencing an aging population, a rise in the prevalence of cardiac disease, and technological improvements. The market for North American bioabsorbable stents has also been driven by other factors, such as a favorable reimbursement picture.
The American Heart Association estimates that roughly 121.5 million adults in the United States had cardiovascular disease in 2019. Additionally, according to the Centers for Disease Control and Prevention, 805,000 Americans have a heart attack each year, and 18.2 million adults in the United States have coronary artery disease as of 2019. The region's market is growing faster thanks to the expanding patient base.
List of Key Players
Segmentation Outline
The global bioabsorbable stents market segmentation focuses on Material, Absorption Rate, Application, End-User, and Region.
By Material
By Absorption Rate
By Application
By End User
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL BIOABSORBABLE STENTS MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: BIOABSORBABLE STENTS MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL BIOABSORBABLE STENTS MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL BIOABSORBABLE STENTS MARKET, BY MATERIAL
5.1 OVERVIEW
5.2 BIOABSORBABLE POLYMER-BASED STENTS
5.3 BIOABSORBABLE METALLIC STENTS
6 GLOBAL BIOABSORBABLE STENTS MARKET, BY ABSORPTION RATE
6.1 OVERVIEW
6.2 SLOW-ABSORPTION STENTS
6.3 FAST-ABSORPTION STENTS
7 GLOBAL BIOABSORBABLE STENTS MARKET, BY APPLICATION
7.1 OVERVIEW
7.2 CORONARY ARTERY DISEASES
7.3 PERIPHERAL ARTERY DISEASES
8 GLOBAL BIOABSORBABLE STENTS MARKET, BY END USER
8.1 OVERVIEW
8.2 HOSPITALS
8.3 CARDIAC CENTERS
9 GLOBAL BIOABSORBABLE STENTS MARKET, BY GEOGRAPHY
9.1 OVERVIEW
9.2 NORTH AMERICA
9.2.1 NORTH AMERICA MARKET SNAPSHOT
9.2.2 U.S.
9.2.3 CANADA
9.2.4 MEXICO
9.3 EUROPE
9.3.1 EUROPE MARKET SNAPSHOT
9.3.2 WESTERN EUROPE
9.3.2.1 THE UK
9.3.2.2 GERMANY
9.3.2.3 FRANCE
9.3.2.4 ITALY
9.3.2.5 SPAIN
9.3.2.6 REST OF WESTERN EUROPE
9.3.3 EASTERN EUROPE
9.3.3.1 POLAND
9.3.3.2 RUSSIA
9.3.3.3 REST OF EASTERN EUROPE
9.4 ASIA PACIFIC
9.4.1 ASIA PACIFIC MARKET SNAPSHOT
9.4.2 CHINA
9.4.3 JAPAN
9.4.4 INDIA
9.4.5 AUSTRALIA & NEW ZEALAND
9.4.6 ASEAN
9.4.7 REST OF ASIA PACIFIC
9.5 MIDDLE EAST & AFRICA
9.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
9.5.2 UAE
9.5.3 SAUDI ARABIA
9.5.4 SOUTH AFRICA
9.5.5 REST OF MEA
9.6 SOUTH AMERICA
9.6.1 SOUTH AMERICA MARKET SNAPSHOT
9.6.2 BRAZIL
9.6.3 ARGENTINA
9.6.4 REST OF SOUTH AMERICA
10 GLOBAL BIOABSORBABLE STENTS MARKET COMPETITIVE LANDSCAPE
10.1 OVERVIEW
10.2 COMPANY MARKET RANKING
10.3 KEY DEVELOPMENT STRATEGIES
10.4 COMPETITIVE DASHBOARD
10.5 PRODUCT MAPPING
10.6 TOP PLAYER POSITIONING, 2022
10.7 COMPETITIVE HEATMAP
10.8 TOP WINNING STRATEGIES
11 COMPANY PROFILES
11.1 BIOTRONIK
11.1.1 OVERVIEW
11.1.2 FINANCIAL PERFORMANCE
11.1.3 PRODUCT OUTLOOK
11.1.4 KEY DEVELOPMENTS
11.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.2 ABBOTT LABORATORIES
11.2.1 OVERVIEW
11.2.2 FINANCIAL PERFORMANCE
11.2.3 PRODUCT OUTLOOK
11.2.4 KEY DEVELOPMENTS
11.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.3 REVA MEDICAL, INC.
11.3.1 OVERVIEW
11.3.2 FINANCIAL PERFORMANCE
11.3.3 PRODUCT OUTLOOK
11.3.4 KEY DEVELOPMENTS
11.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.4 ELIXIR MEDICAL CORPORATION
11.4.1 OVERVIEW
11.4.2 FINANCIAL PERFORMANCE
11.4.3 PRODUCT OUTLOOK
11.4.4 KEY DEVELOPMENTS
11.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.5 ARTERIAL REMODELLING TECHNOLOGIES S. A.
11.5.1 OVERVIEW
11.5.2 FINANCIAL PERFORMANCE
11.5.3 PRODUCT OUTLOOK
11.5.4 KEY DEVELOPMENTS
11.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.6 KYOTO MEDICAL PLANNING CO. LTD.
11.6.1 OVERVIEW
11.6.2 FINANCIAL PERFORMANCE
11.6.3 PRODUCT OUTLOOK
11.6.4 KEY DEVELOPMENTS
11.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.7 MICROPORT SCIENTIFIC CORPORATION
11.7.1 OVERVIEW
11.7.2 FINANCIAL PERFORMANCE
11.7.3 PRODUCT OUTLOOK
11.7.4 KEY DEVELOPMENTS
11.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.8. ARTERIUS LTD.
11.8.1 OVERVIEW
11.8.2 FINANCIAL PERFORMANCE
11.8.3 PRODUCT OUTLOOK
11.8.4 KEY DEVELOPMENTS
11.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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