Bioabsorbable Stents Market Segmentation:
Application Segment Analysis
The coronary artery disease (CAD) effectively dominated the bioabsorbable stents market with an expected revenue share of 75.8% by the end of 2037. The segment’s growth is effectively fueled by the superior clinical outcomes of bioresorbable scaffolds, along with an increase in the prevalence of CAD. Besides, the World Health Organization (WHO) has estimated that approximately 18.5 million CAD deaths take place yearly, which has increased the market demand. The EU and the U.S. effectively lead the adoption, with Medicare covering almost 50% of CAD-based bioabsorbable stent procedures, thereby suitable for the segment’s growth.
End user Segment Analysis
The hospitals segment is expected to hold a market share of 67.5% in the bioabsorbable stents market by the end of the forecast period due to established reimbursement pathways and conducting complicated PCI procedures. As per the CDC report, more than 1.4 million coronary interventions are performed every year in the U.S.-based hospitals, and as stated in the CMS report, these infrastructures readily benefit from Medicare’s coverage of 85% of inpatient bioabsorbable stent procedures in comparison to only 48% in outpatient environments. Besides, the transition toward value-specific care is escalating the adoption, since hospitals have identified that bioabsorbable stents tend to reduce 20% of readmissions within a month, thus denoting a positive impact on the market.
Our in-depth analysis of the bioabsorbable stents market includes the following segments:
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