Increasing prevalence of coronary artery diseases and peripheral artery diseases is anticipated to drive the Bioresorbable Stents Market during the forecast period 2019-2025.Bioresorbable Stents Market size is valued at $ 31,779 thousand in 2019, and is estimated to reach $36,489 thousand by 2025, growing at CAGR of 2.6% during the forecast period of 2020-2025.
The bioresorbable stents market is growing at a significant rate as the population is increasing rapidly with a cholesterol-rich diet and the smoking habits of people since the last decade. The increase in the population of smokers is analyzed to add up the risk of atherosclerosis along with hypercholesterolemia. These habits and lifestyle changes are estimated to increase the risk of Cardiovascular Diseases (CVDs) and Peripheral Artery Disease (PAD) which is set to drive the bioresorbable stent market in the future as a significant share of the population with CVDs and PAD would require coronary and peripheral angioplasty to re-open the blocked arteries.
Bioabsorbable stents utilize biodegradable polymers, which naturally deplete in the body over time. As the polymer degrades, the drug contained within is released. The main advantage of bioabsorbable stents is that after the drug is released, there is little or nothing of the original stent remaining, thereby decreasing the incidence of late stent thrombosis. New developments in drug-eluting stents, such as biodegradable materials and bifurcated stents, are expected to prompt an increase in market value. The new advancements like Arterial Remodeling Technologies (ART) is developing a bioresorbable stent based on a lactic acid polymer. Stents made from this polymer have been shown to trigger only a minimal response from the artery they support, limiting the amount of restenosis. The bioresorbable stent is made from material that can dissolve or be absorbed into the body. These stents are designed to stay within the body releasing medicine and healing the artery, before dissolving and leaving no permanent implant.
Europe holds a major share of bioresorbable stents market owing to trends of minimally invasive interventional procedure as an alternative to bypass surgery, increasing average disposable income of the population and rising government investments and funds on healthcare facilities in developing countries such as Germany, U.K., France, Italy Spain and others and others. The recent outbreak of the novel coronavirus (COVID-19 pandemic), people in European countries with underlying heart conditions are more likely to show symptoms of the infection or to have a more severe infection than others, as is the case with flu and other infections. Hence, government is putting focus on the safety and treatment of those patients. Cardiovascular deaths account for the top cause of total deaths among urban and rural residents. For every 5 deaths, 2 were caused by CVD. The mortality rate of cardiovascular disease still ranks first in death by disease, making it higher than the death rate caused by tumors and other diseases. This has catered a high priority need of innovative coronary stents in the market. The coronary stent market in U.K. has grown at a terrific rate due to rise in number of coronary angioplasties which have resulted from a surge in cardiovascular diseases (CVDs) in Germany, Italy, France and others are set to avail new growth opportunity to bioresorbable stents market during 2019-2025
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Bioresorbable Stents Market Growth Drivers:
- Increasing demand for non-invasive procedure and biodegradable property of the stents:
The increasing need for bioabsorbable stents globally has increased as the patients with bioabsorbable stents experience much less discomfort owing to the less invasive procedure, also, they recover much faster when compared to patients who undergo coronary artery bypass surgery (CABG). According to WHO, CVDs are the number 1 cause of death globally and it is estimated that 17.9 million deaths are attributed to CVDs each year representing 31% of death globally owed towards driving the market’s growth. The clinical outcomes utilizing revascularization and aggressive drug evaluation trial did not show benefits for cardiovascular outcomes or mortality but did find a modest improvement in the quality of life after the demonstration of percutaneous coronary intervention also contribute abetting the growth of the market.
- Adoption of Advanced Technology For Health Benefits:
The demand for bioresorbable stents is increasing for improvement of health in developing countries owing to treat diseases such as those affecting the heart and blood vessels of elderly and middle-aged patients. Healthcare delivery in the developing countries is undergoing considerable change, with an increasing focus on quality and value of care, defined as safe, effective, patient-centered, timely, efficient, and equitable.
- Arterius collaborated with University of Bristol’s Translational Biomedical Research Centre to develop a smart bioresorbable stent for severe peripheral vascular disease.
The Major Players in this Market Include
The major companies in the bioresorbable stents market include Biotronik, Meril Lifesciences Pvt Ltd, Arterius Limited, Elixir Medical Corporation, and Perumo Corporation. In 2020, Biotronik launched Next-Generation Drug Eluting Stent System in the CE region.
Although there has been product withdrawals and low demand for the product, companies are conducting research and development for the perfecting the medical device. Health professionals are rooting for the come back of bioresorbable stents with effective condition curing methods. There are the major factors set to buoy the bioresorbable stents market during 2019-2025.
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