Drug-Eluting Bioabsorbable Stents Market

Drug-Eluting Bioabsorbable Stents Market drivers of growth
analysed in a new research report: Global Market Insights Inc.
Global Drug-Eluting Bioabsorbable Stents Market size is driven by the increasing
geriatric population, rising obesity rate and associated risk factors, and development
of technologically advanced devices. As per UN estimates, the global population
above 60 years is expected to double by 2050. Rising geriatric population will
accelerate the demand for drug-eluting bioabsorbable stents over the forecast period.
The obese population is susceptible to chronic diseases such as coronary heart
diseases, diabetes, and high BP, strongly influencing the business growth.
Furthermore, the rise in the number of cardiac surgeries is playing a vital role in
attracting the patients toward drug eluting bioabsorbable stents. Drug-eluting stents
with bioabsorbable polymer coating reduce the incidence of vessel revascularization
and coronary restenosis, making it a better option over the traditional bare metallic
stents. It is another prominent factor fueling the demand for these stents. On the other
hand, high purchase cost of these devices is a major factor impeding market growth.
Further, risk factors post DES implantation, such as chronic wall inflammation and
endothelial dysfunction leading to stent thrombosis, are restraining the market size.
Drug eluting bioabsorbable stents market is segmented based on product, material,
application, end-user, and region. By product type, the market is segmented into
serolimus and paclitaxel drug-eluting stents. Sirolimus drug eluting stents with
biodegradable polymer coating is expected to lead the market due to its advantages
such as reduced incidence of Target Vessel Failure (TVF) and Major Adverse Cardiac
Events (MACE). Paclitaxel stents segment will show a healthy growth rate over the
coming years.
Based on the material, the industry is bifurcated into metallic and polymerbased drug
eluting stents. Polymer based stents with biodegradable poly lactide coating will be
naturally absorbed and metabolized in the body. This factor should boost the demand
for polymeric stents over metallic stents.
Based on the application, the market is categorized into coronary artery diseases and
peripheral artery diseases. The coronary segment is leading the market and will
continue to witness a tremendous growth in the future due to the growing elderly
patient pool, increasing prevalence of obesity, escalating number of deaths due to
cardiac diseases, and increasing coronary interventions procedures.
Rising incidence of peripheral artery disease propels the demand for peripheral drug
eluting stents. Rising geriatric population and technological innovations in this field are
factors responsible for the increased demand for peripheral stents. However, the high
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cost of devices and complications associated with stents will hamper this segment’s
growth.
By end-user, the market is segmented into hospitals and cardiac centers. The hospital
segment dominates the market in terms of revenue and will continue to lead in the
future. This is attributed to established medical infrastructure along with highly skilled
and trained professionals to cater to the needs of patients suffering from coronary and
peripheral artery diseases.
Europe dominates the drug eluting bioabsorbable stents market followed by North
America. Increasing aged population, established healthcare infrastructure, and rising
awareness among patients for these devices in developed countries, such as
Germany, the UK, and France, will accelerate the market size.
U.S. drug eluting bioabsorbable stents market will witness a significant growth over
the coming years. Increasing prevalence of coronary artery diseases, sedentary
lifestyle, and growing elderly population base will fuel the demand for drug eluting
stents. Giant players, such as Abbott and Biosensors International, are developing
innovative bioabsorbable stents to reduce the complications post percutaneous
coronary intervention procedures.
APAC is poised to be the fastest growing drug eluting bioabsorbable stents market
over the forecast timeline. Developing economies, such as India, China, and Japan,
will witness a tremendous growth owing to the increasing elderly patient pool, rising
prevalence of obesity leading to cardiac diseases, and rising government initiatives.
These factors will fuel bioabsorbable stents’ demand in the future.
Some of the prominent players in this market include Medtronic, B.Braun Melsungen,
Abbott Laboratories, Boston Scientific Corporation, Medtronic, Biosensors
International, and Terumo Corporation. To expand the product portfolio and capture
higher market share, these players are focusing on unique growth strategies such as
acquisitions, mergers, and new product launches.
Some of the other notable industry vendors are MicroPort Scientific Corporation,
Alvimedica, Biotronik, Elixir Medical Corporation, and Innovative Health Technologies.
These players are adopting collaborations and geographic expansion growth
strategies to enhance their manufacturing capabilities as well as increasing their
presence across the globe.
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