Bioabsorbable Stents Market Size & Share, by Product (Bioresorbable Metallic Stents, Bioresorbable Polymer-Based Stents); Absorption Rate (Fast Absorption Stents, Slow Absorption Stents); Application (Peripheral, Coronary Artery Diseases) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 3612
  • Published Date: Sep 19, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Bioabsorbable Stents Market size was valued at USD 432.14 million in 2023 and is poised to cross USD 1.41 billion by the end of 2036, expanding at more than 9.5% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of bioabsorbable stents is estimated at USD 464.98 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.

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 bioabsorbable stents market growth in the coming years.


Bioabsorbable Stents Market
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Bioabsorbable Stents Sector: Growth Drivers and Challenges

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

Bioabsorbable Stents Market: Key Insights

Base Year

2023

Forecast Year

2024–2036

CAGR

9.5%

Base Year Market Size (2023)

USD 432.14 million

Forecast Year Market Size (2036)

USD 1.41 billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Bioabsorbable Stents Segmentation

The 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 bioabsorbable stents 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.

Our in-depth analysis of the global market includes the following segments:

           Product

  • Bioresorbable Metallic Stents
  • Bioresorbable Polymer-Based Stents

            Absorption Rate

  • Fast Absorption Stents
  • Slow Absorption Stents

 

 

            Application

  • Peripheral,
  • Coronary Artery Diseases

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Bioabsorbable Stents Industry - Regional Synopsis

The bioabsorbable stents 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. 

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Companies Dominating the Bioabsorbable Stents Landscape

    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
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis 
    • 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.

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.

Author Credits:  Radhika Pawar


  • Report ID: 3612
  • Published Date: Sep 19, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The increasing prevalence of cardiovascular diseases (cvds) and the rising focus of the government of nations to facilitate advance healthcare infrastructure are some of the major factors anticipated to drive the market growth.

The market is anticipated to attain a CAGR of 7.67% over the forecast period, i.e., 2021 – 2030.

The lack of skilled professionals for using stents and the availability of low-cost alternatives are estimated to hamper the market growth.

The market in Europe region is anticipated to garner the largest revenue of USD 252.3 Million by the end of 2030 and display significant business opportunities for market growth.

The major players in the market are Abbott, Elixir Medical Corporation, BIOTRONIK SE & Co KG, Arterius Limited, Boston Scientific Corporation, Meril Life Sciences Pvt. Ltd., and others.
Bioabsorbable Stents Market Report Scope
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