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(Medical-NewsWire.com, August 06, 2018 ) Market Overview:
Bioabsorbable Stents Market was valued at USD 630.3 Million in 2018 and it is expected to rise up to USD 3644.4 Million with a CAGR of 41.64% by the year 2023. Stents are commonly used in treatment of blocked arteries, usually they are small and expandable mesh tubes that hold arteries open and help treat coronary and peripheral artery diseases. A stent embed is the most normally utilized one, for the treatment of cardiac abnormalities, for example, blocked blood vessels. Stents are embedded in the esophagus to permit the entry of food and drinks in patients experiencing esophageal cancer.
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Factors affecting market growth:
• Increment in cardiovascular surgeries among people who is suffering from obesity. (+)
• As per WHO reports, cardio vascular problems are the main source of death. And it expected to reach 23 Million Individuals by 2030. (+)
• Increase in cardiovascular diseases and aging people. (+)
• Increased focus of companies on clinical trials of bioresorbable stents. (+)
• High cost of stent implant procedures. (-)
• Stringent Government regulations for approval of stents are restraining factor. (-)
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Market Segmentation
The Global Bioabsorbable Stents Market is segmented on the basis of
Material
• Polymer Stents
• Metallic Stents
Absorption
• Slow Absorption stents
• High Absorption stents
Application
• Coronary Artery Disease
• Peripheral Artery Disease
End User
• Hospitals
• Cardiac centers
Polymer Stents are expected to grow at a higher CAGR to metallic stents. In the year 2018, slow absorption rate stents are predicted to be on higher side. Coronary artery disease is expected to have the largest share of the market.
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Key players:
Some of the major players in global market of bioabsorbable stents are Elixir Medical Corporation, Arteries Limited, Amaranth Medical Inc, Abbott Laboratories, Arterial Remodeling Technologies S. A, Biotronik, Kyoto Medical Planning Co Ltd., Reva Medical Inc, Tepha.Inc, SMT, Xenogenics Corporation
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