Research Nester published a report titled “Bioabsorbable Stents Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global bioabsorbable stents market in terms of market segmentation by product type, absorption rate, application, end-users, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global bioabsorbable stents market is anticipated to grow with a CAGR of 7.67% over the forecast period, i.e., 2021 – 2030. The market is segmented by end-users into hospitals, ambulatory surgical centers, cardiac centers, and others, out of which, the hospitals segment is expected to generate the largest revenue of USD 265.2 Million by the end of 2030, up from a revenue of USD 127.4 Million in the year 2020. Moreover, the segment is also expected to grow with the second-highest CAGR of 7.66% during the forecast period.
The global bioabsorbable stents market is estimated to garner a revenue of USD 592.1 Million by the end of 2030, up from a revenue of USD 284.3 Million in the year 2020. Rising use of stents for surgeries related to cardiovascular diseases, followed by the growing advancements in medical device industry, and the rising focus of the government of nations worldwide to develop the healthcare infrastructure, backed by the rising healthcare expenditure are some of the major factors expected to drive the market growth in the coming years.
Geographically, the global bioabsorbable stents market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region, out of which, the market in Europe region is anticipated to garner the largest revenue of USD 252.3 Million by the end of 2030. Moreover, in the year 2020, the market in the region registered a revenue of USD 129.6 Million. Amongst the countries in the region, the market in Germany is expected to generate the largest revenue of USD 42.2 Million by the end of 2030.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Increasing Use of Stents for Cardiovascular Surgeries
Around 17.9 Million people in the year 2019 died due to cardiovascular diseases (CVDs), according to the statistics by the World Health Organization (WHO). Moreover, the statistics also stated that the total deaths caused due to CVDs in the year 2019 represented a share of 32% of total number of deaths registered in the same year.
Backed by the rising concern for the increasing deaths caused due to CVDs, the awareness for the treatment of the disease has increased massively. Moreover, with the increasing advancements in healthcare and the rising use of medical devices in the healthcare industry, the use of stents for treating CVDs has witnessed a massive growth. This, as a result, is driving the need for stents amongst the healthcare providers, which in turn, is expected to drive the market growth in the coming years.
However, the lack of skilled professionals for using stents and the availability of low-cost alternatives are expected to operate as key restraint to the growth of global bioabsorbable stents market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global bioabsorbable stents market which includes company profiling of Abbott, Elixir Medical Corporation, BIOTRONIK SE & Co KG, Arterius Limited, Boston Scientific Corporation, Meril Life Sciences Pvt. Ltd., OrbusNeich Medical Company Limited, Lepu Medical Technology (Beijing) Co., Ltd., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global bioabsorbable stents market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.