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(Medical-NewsWire.com, November 18, 2017 ) The global bioabsorbable stents market is likely to grow at a steady pace through 2022 owing to rising preference among healthcare professionals and end-users. The global bioabsorbable stents market is likely reach US$ 350 Bn by 2022, on account of broader trends in the healthcare industry. Increase in cardiovascular surgeries and lower treatment cost are likely to have an impact on the global bioabsorbable stents market. These insights are according to a research report added to the repository of Market Research Reports Search Engine (MRRSE). The report is titled “Global Bioabsorbable Stents Market: Industry analysis (2012-2016) and Opportunity Analysis (2017-2022)”.
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According to the report, as bioabsorbable stents are easily absorbed in the body, there is growing preference among healthcare providers. However, concerns about the side effects of inserting bioabsorbable stents during surgery can pose challenges to wider adoption. These factors will continue to drive and put brakes on the global bioabsorbable stents market during the forecast period.
According to the report, polymeric stents are likely to remain the preferred product type during the forecast period. This segment currently accounts for nearly 60% revenue share of the market, and higher preference for these stents is likely to continue during the forecast period. While polymeric stents are likely to remain the largest segment in terms of revenues, demand for polymeric-coated metallic stents is expected to grow at a high CAGR during the forecast period.
North America and Europe are among the leading markets for bioabsorbable stents globally. These end-users in these countries are likely to show market preference for bioabsorbable stents during the forecast period. The bioabsorbable stents market in North America is likely to grow at over 10% CAGR through 2022, according to the report.
Demand for bioabsorbable stents is pervasive in hospitals and cardiac catheterization labs. Hospitals currently account for a large revenue share of the global market. Demand for bioabsorbable stents from the hospitals segment is likely to remain stable during the forecast period. The hospitals segment is likely to account for over 60% revenue share of the global market by end-user type.
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Use of bioabsorbable stents in treating and managing coronary artery disease is growing, and this trend is likely to continue during the forecast period. According to the report, this segment is projected to grow at over 10% CAGR and hold significant market share throughout the forecast period.
The leading companies in the market include Lepu Medical Technology (Beijing) Co., Ltd., Elixir Medical Corporation, Boston Scientific Corporation, BIOTRONIK SE & Co. KG, Kyoto Medical Planning Co., Ltd., REVA Medical, Inc., Becton Dickinson and Company, Tepha, Inc., Amaranth Medical, Inc., and Abbott Laboratories.
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