The bioabsorbable stents market is expected to expand at a moderate 9.6% CAGR through 2032. The market for bioabsorbable stents is expected to exceed $1 billion by 2032, up from $372 million in 2021.
The significant advantage of these stents lies in their ability to naturally dissolve within the body over a specific timeframe. This characteristic has established them as the preferred treatment option, driving the growth potential of the bioabsorbable stents market in the healthcare sector. The global bioabsorbable stents market research report provides an extensive analysis of the industry, covering the period from 2015 to 2021, and outlines promising growth opportunities for the years ahead, spanning from 2022 to 2032.
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Bioabsorbable Stents Market Overview
The bioabsorbable stents market is a dynamic sector within the broader medical device industry. Bioabsorbable stents, also known as biodegradable stents or scaffold stents, are medical implants used primarily in the treatment of coronary artery disease (CAD). Unlike traditional metal stents, which remain in the body indefinitely, bioabsorbable stents are designed to gradually dissolve over time, leaving behind a healed artery.
These stents are typically made from biocompatible materials, such as polylactic acid (PLA) or polyglycolic acid (PGA), which the body can safely absorb. This revolutionary approach offers several advantages over permanent metal stents, including reduced risk of long-term complications and improved vascular function.
Bioabsorbable Stents Market Recent Developments
The bioabsorbable stents market has witnessed several noteworthy developments in recent years, driven by ongoing research and innovation in the field of interventional cardiology. Some of these developments include:
- FDA Approvals: Regulatory approvals from the U.S. Food and Drug Administration (FDA) for bioabsorbable stent systems have marked significant milestones. These approvals have expanded the availability of bioabsorbable stents to a broader patient population.
- Clinical Trials: Ongoing clinical trials are evaluating the safety and efficacy of bioabsorbable stents in various patient groups. These trials aim to provide valuable data on long-term outcomes, helping refine treatment guidelines.
- Technological Advancements: Innovations in stent design and materials are enhancing the performance of bioabsorbable stents. These advancements aim to improve deliverability, radial strength, and overall procedural success rates.
- Global Expansion: Bioabsorbable stents are becoming increasingly accessible worldwide. Manufacturers are working to secure approvals and expand their market presence in different regions, catering to a more extensive patient base.
Bioabsorbable Stents Market Demand
The demand for bioabsorbable stents is driven by several factors:
- Growing Cardiovascular Disease Burden: With the rising prevalence of cardiovascular diseases, there is an increased demand for effective treatment options. Bioabsorbable stents offer a promising alternative to conventional treatments.
- Patient Preference: Many patients prefer bioabsorbable stents over metal stents due to their temporary nature. This preference is particularly strong among younger patients who want to avoid lifelong reliance on metallic implants.
- Reduced Long-term Risks: Bioabsorbable stents eliminate the long-term risks associated with permanent metallic stents, such as in-stent restenosis and late thrombosis. Patients and physicians are increasingly seeking solutions that minimize these risks.
- Advancements in Medical Imaging: The integration of advanced imaging technologies, such as intravascular ultrasound (IVUS) and optical coherence tomography (OCT), has improved stent placement accuracy, further driving demand for bioabsorbable stents.
Competitive Landscape for the Bioabsorbable Stents Market
In the fiercely competitive global bioabsorbable stents market, several prominent players vie for dominance, including BIOTRONIK, Abbott Laboratories, REVA Medical, Inc., Elixir Medical Corporation, Arterial Remodelling Technologies S. A., Kyoto Medical Planning Co. Ltd., Microport Scientific Corporation, and Arterius Ltd., among others.
This market landscape is characterized by a handful of major players currently holding significant market share and sales of bioabsorbable stents. However, it’s noteworthy that mid-sized and smaller enterprises are making significant strides to expand their market presence. They achieve this by introducing new cost-effective products, leveraging technological advancements, and driving product innovations.
Collaborations and mergers represent highly favored strategies among bioabsorbable stents market players seeking to expand their business footprint and access new markets. A notable example is Abbott Laboratories’ acquisition of St. Jude Medical, Inc. in 2017, a move that propelled Abbott Laboratories into a leadership position in the medical devices industry. These strategic alliances and consolidations reflect the dynamic nature of the bioabsorbable stents market as companies strive for growth and innovation.
- By Material :
- Bioabsorbable polymer based stents
- Bioabsosbable metallic stents
- By Absorption Rate :
- Slow- absorption stents
- Fast- absorption stents
- By Application :
- Coronary Artery Diseases
- Peripheral Artery Diseases
- By End User :
- Cardiac Centers
- By Region :
- North America
- Latin America
- Asia Pacific
- Middle East and Africa (MEA)
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The bioabsorbable stents market is undergoing rapid growth and transformation, driven by advancements in medical technology, patient preferences, and a growing burden of cardiovascular disease. With ongoing research and innovation, bioabsorbable stents are poised to play a pivotal role in the future of interventional cardiology, offering safer and more effective treatment options for patients worldwide.
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