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HEALTHCARE & PHARMACEUTICAL

Bioabsorbable Stents Market Segmentation by Product Type (Bioresorbable Metallic Stents, and Bioresorbable Polymer-Based Stents); by Absorption Rate (Fast Absorption Stents, and Slow Absorption Stents); by Application (Peripheral, and Coronary Artery Diseases); and by End-Users – Global Demand Analysis & Opportunity Outlook 2020-2030

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Extensive insights into the Growth of Bioabsorbable Stents Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS

  • July 27th, 2021: Boston Scientific Corporation, in its second quarter financial announcements, stated that during this quarter, the company enrolled itself in the AGENT IDE trial in the U.S., which was a first randomized study designed to assess safety and effectiveness of plain old balloon angioplasty (POBA) with AGENT Drug Coated Balloon in patients with in-stent restenosis.
  • June 30th, 2021: Abbott announced that it has received approval for one-month DAPT labeling for high bleeding risk (HBR) patients in the U.S. from the U.S. Food and Drug Administration (FDA) for its XIENCE family of stents. Moreover, it has also received European CE Mark approval and FDA approval for XIENCE Skypoint stent, which is a next-generation stent for use in HBR patients.

Global Bioabsorbable Stents Market Highlights Over 2020 - 2030

The global bioabsorbable stents market is estimated to garner a revenue of USD 592.1 Million by the end of 2030 by growing at a CAGR of 7.67% over the forecast period, i.e., 2021 – 2030. Moreover, in the year 2020, the market registered a revenue of USD 284.3 Million. The growth of the market can primarily be attributed to the growing incidences of cardiovascular diseases worldwide, and for the rising need amongst individuals to undergo a surgery to treat the condition. According to the statistics by the World Health Organization (WHO), in the year 2019, close to 17.9 Million people were known to die due to cardiovascular diseases (CVDs). This represented a share of 32% of the total number of deaths caused around the world in that same year. Furthermore, out of the total share of deaths caused due to CVDs, 85% of the deaths were known to be caused due to heart attack and stroke.

Bioabsorbable Stents Market

The growth of the market can also be attributed to the growing healthcare expenditure around the world, followed by the increasing utilization of bioabsorbable stents for other medical applications, such as for preventing urine retention during benign prostatic hyperplasia (BPH), for the management of tracheobronchial obstruction, as well as for its use in the esophagus and gastrointestinal tract as a minimally invasive alternative to surgery. Furthermore, the growing medical device industry, along with the supportive health initiatives of the government of nations worldwide, followed by the surge in the number of FDA approvals of different medical devices, are some of the additional factors expected to drive the market growth in the coming years.

Global Bioabsorbable Stents Market Regional Synopsis

Regionally, the global bioabsorbable stents market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Europe region is anticipated to garner the largest revenue of USD 252.3 Million by the end of 2030, up from a revenue of USD 129.6 Million in 2020. Despite the high prevalence rates of cardiovascular diseases in Europe, the number of deaths in the region has been on a declining trend. This can be attributed to the increasing number of cardiovascular surgeries performed in the region. According to the statistics by the statistical division, Eurostat, of the European Commission, in the year 2018, 10.4 Million in-patients with circulatory system diseases were discharged across the EU. Moreover, the number of transluminal coronary angioplasty surgical operations and procedures performed in Belgium, Germany, Croatia, and Austria increased from 227.0 (per 100,000 inhabitants), 385.9, 265.4, and 276.7 respectively in the year 2014 to 283.2, 419.5, 410.3, and 325.7 respectively in the year 2019.

Transluminal Coronary

The market in the region is further segmented by countries into Germany, UK, France, Italy, Spain, Russia, Netherlands, and the Rest of Europe. Out of these, the market in Germany is expected to generate the largest revenue of USD 42.2 Million by the end of 2030, up from a revenue of USD 21.0 Million in the year 2020. On the other hand, the market in North America is anticipated to generate the second-largest revenue by the end of 2030, and also grow with the highest CAGR of 8.66% during the forecast period. CLICK TO DOWNLOAD SAMPLE REPORT

The study further incorporates Y-O-Y Growth, market opportunities, demand & supply and forecast future opportunity in North America (United States, Canada, Mexico), South America, Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, 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).

Growth Drivers and Challenges Impacting the Growth of the Global Bioabsorbable Stents Market

Growth Drivers

  • Increasing Prevalence of Cardiovascular Diseases (CVDs)
  • Rising Focus of the Government of Nations to Facilitate Advance Healthcare Infrastructure

Challenges

  • Lack of Skilled Professionals for Using Stents
  • Availability of Low-Cost Alternatives

Global Bioabsorbable Stents Market Segmentation Synopsis

The global bioabsorbable stents market is segmented by product type into bioresorbable polymer-based stents, and bioresorbable metallic stents. Out of these, the bioresorbable polymer-based stents segment is expected to generate the largest market revenue by the end of 2030, and also grow with the highest CAGR of 7.50% during the forecast period. By absorption rate, the market is segmented into slow, and fast absorption stents. Out of these, the slow-absorption stents segment registered the largest revenue in the year 2020. By application, the market is segmented into coronary and peripheral artery diseases. Out of these, the coronary artery diseases segment is expected to grow with the highest CAGR during the forecast period and also attain the largest revenue by the end of 2030. Moreover, by end-user, the market is segmented into hospitals, ambulatory surgical centers, cardiac centers, and others. Out of these, the hospitals segment generated the largest revenue of USD 127.4 Million in the year 2020, and is further expected to touch USD 265.2 Million by the end of 2030.

Key Companies Dominating the Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global bioabsorbable stents market that are included in our report are 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.

Key Reasons to Buy Our Report

  • The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.
  • It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.
  • The report includes detailed company profiles of the major players dominating the market.
  • We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.
  • We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

FREQUENTLY ASKED QUESTIONS

Global Bioabsorbable Stents Market TOC

  1. Market Definition
    1. Definition
    2. Market Segmentation
  2. Assumptions and Acronyms
  3. Research Methodology
    1. Research Process
    2. Primary Research
    3. Secondary Research
  4. Executive Summary – Global Bioabsorbable Stents Market
  5. Industry Value Chain Analysis
  6. Market Dynamics
    1. Market Drivers
    2. Market Trends
  7. Key Market Opportunities
  8. Major Roadblocks for the Market Growth
  9. Regulatory and Standards Landscape
  10. Industry Risk Analysis
  11. Average Pricing Analysis
  12. Industry Growth Outlook
  13. Competitive Landscape
    1. Competitive Positioning
    2. Market Share Analysis, 2020
    3. Company Profiles
      1. Abbott
      2. Elixir Medical Corporation
      3. BIOTRONIK SE & Co KG
      4. Arterius Limited
      5. Boston Scientific Corporation
      6. Meril Life Sciences Pvt. Ltd.
      7. OrbusNeich Medical Company Limited
      8. Lepu Medical Technology (Beijing) Co., Ltd.
  14. Global Bioabsorbable Stents Market 2020-2030
    1. Market Overview
    2. By Value (USD Million)
  15. Global Bioabsorbable Stents Market – Segmentation Analysis 2020-2030
    1. Product Type
      1. Bioresorbable Polymer-Based Stents, 2020-2030F (USD Million)
      2. Bioresorbable Metallic Stents, 2020-2030F (USD Million)
    2. Absorption Rate
      1. Slow Absorption Stents, 2020-2030F (USD Million)
      2. Fast Absorption Stents, 2020-2030F (USD Million)
    3. Application
      1. Coronary Artery Diseases, 2020-2030F (USD Million)
      2. Peripheral Artery Diseases, 2020-2030F (USD Million)
        1. Carotid Artery, 2020-2030F (USD Million)
        2. Aorta Artery, 2020-2030F (USD Million)
    4. End-User
      1. Hospitals, 2020-2030F (USD Million)
      2. Ambulatory Surgical Centers, 2020-2030F (USD Million)
      3. Cardiac Centers, 2020-2030F (USD Million)
      4. Others, 2020-2030F (USD Million)
    5. Region
      1. North America, 2020-2030F (USD Million)
      2. Europe, 2020-2030F (USD Million)
      3. Asia Pacific, 2020-2030F (USD Million)
      4. Latin America, 2020-2030F (USD Million)
      5. Middle East & Africa, 2020-2030F (USD Million)
  16. North America Bioabsorbable Stents Market
    1. Market Overview
    2. Market Value (USD Million)
    3. Market Segmentation by:
    4. Product Type
      1. Bioresorbable Polymer-Based Stents, 2020-2030F (USD Million)
      2. Bioresorbable Metallic Stents, 2020-2030F (USD Million)
    5. Absorption Rate
      1. Slow Absorption Stents, 2020-2030F (USD Million)
      2. Fast Absorption Stents, 2020-2030F (USD Million)
    6. Application
      1. Coronary Artery Diseases, 2020-2030F (USD Million)
      2. Peripheral Artery Diseases, 2020-2030F (USD Million)
        1. Carotid Artery, 2020-2030F (USD Million)
        2. Aorta Artery, 2020-2030F (USD Million)
    7. End-User
      1. Hospitals, 2020-2030F (USD Million)
      2. Ambulatory Surgical Centers, 2020-2030F (USD Million)
      3. Cardiac Centers, 2020-2030F (USD Million)
        1. Others, 2020-2030F (USD Million)
      4. Country
        1. United States
        2. Canada
  17. Europe Bioabsorbable Stents Market
    1. Market Overview
    2. Market Value (USD Million)
    3. Market Segmentation by:
      1. Product Type
      2. Absorption Rate
      3. Application
      4. End-Users
      5. Country
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Russia
        7. Netherlands
        8. Rest of Europe
  18. Asia Pacific Bioabsorbable Stents Market
    1. Market Overview
    2. Market Value (USD Million)
    3. Market Segmentation by:
      1. Product Type
      2. Absorption Rate
      3. Application
      4. End-Users
      5. Country
        1. India
        2. China
        3. Japan
        4. South Korea
        5. Australia
        6. Singapore
        7. Rest of Asia Pacific
  19. Latin America Bioabsorbable Stents Market
    1. Market Overview
    2. Market Value (USD Million)
    3. Market Segmentation by:
      1. Product Type
      2. Absorption Rate
      3. Application
      4. End-Users
      5. Country
        1. Brazil
        2. Argentina
        3. Mexico
        4. Rest of Latin America
  20. Middle East & Africa Bioabsorbable Stents Market
    1. Market Overview
    2. Market Value (USD Million)
    3. Market Segmentation by:
      1. Product Type
      2. Absorption Rate
      3. Application
      4. End-Users
      5. Country
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa

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