Global bio-absorbable stent market is set to witness a substantial CAGR of 9.47% in the forecast period of 2019-2026. The report contains data of the base year 2018 and historic year 2017. This rise in market value can be attributed to increasing demand for medical implants.
Bio-absorbable stent market report is helpful in assessing the effectiveness of advertising program and helps identify the causes of consumer resistance. It reveals the nature of demand for the firm’s product to know if the demand for the product is constant or seasonal. The report aids to know how patents, licensing agreements and other legal restrictions affect the manufacture and sale of the firm’s products. The market study of bio-absorbable stent report helps minimize the risks of uncertainties and helps in taking sound decisions. The market analysis and competitor analysis helps the firm in determining the range in terms of sizes, colours, designs, and prices, etc within which its products are to be offered to the consumers.
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Key Market Competitors:
Few of the major competitors currently working in global bio-absorbable stent market are Abbott, REVA Medical, Inc., Elixir Medical Corporation, KYOTO MEDICAL PLANNING Co., Ltd., BIOTRONIK, Amaranth Medical, Inc., Arterial Remodeling Technologies, Meril Life Sciences Pvt. Ltd., Arterius, lepumedical.com, Boston Scientific Corporation, 480 Biomedical, Inc., S3V Vascular Technologies., QualiMed, OrbusNeich, Medtronic, STENTYS SA, Terumo Corporation, MicroPort Scientific Corporation, BD, B. Braun Melsungen AG among others.
Key Developments in the Market:
- In June 2019, Terumo Corporation has formed partnership with Orchestra BioMed to develop and commercialize sirolimus-eluting balloon in both peripheral and coronary cardiovascular interventions. The major focus of this partnership is to develop The Virtue angioplasty system to provide sustainable and bioabsorbable formulation of sirolimus directly into the artery wall. The partnership will help company to increase its product portfolio in global bio-absorbable stent market
- In October 2015, Boston Scientific Corporation has received FDA Approval for bioresorbable polymer stent – the Synergy – to treat coronary artery disease. The product approval will help company to increase its revenue generation as the product is a first bioabsorbable polymer stent
Global bio-absorbable stent market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of bio-absorbable stent market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
- Increasing number of Coronary Artery Disease/Peripheral Artery Disease is expected to drive the growth of the market in the forecast period
- Increasing prevalence of geriatric population is expected to enhance the growth of the market
- Increasing technological advancement in bio-absorbable stent is expected to increase the market growth
- Global rise in acceptance of medical implants acts as a market driver
- Availability of other alternatives is expected to restrain the market growth
- Stringent regulation is expected is another factor restricting the market growth
- Bio-absorbable stent are costly which is expected to restrain the market growth
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Segmentation: Global Bio-Absorbable Stent Market
- Bioresorbable Polymer-Based Stents
- Poly-L-Lactic Acid (PLLA)
- Poly (D, L-Lactide/Glycolide) Copolymer (PDLA)
- Polyglycolic Acid (PGA)
- Bioresorbable Metallic Stents
- Iron Bioabsorbable Stents
- Magnesium Bioabsorbable Stents
- Bioresorbable Natural Material -Based Stents
- Coronary Stents
- Drug-eluting Stents (DES)
- Bare-metal Coronary Stents
- Bioabsorbable Stents
- Peripheral Stents
- Iliac Stents
- Femoral-popliteal Stents
- Renal & Related Stents
- Carotid Stents
- Stent-related Implants
- Synthetic Grafts
- Vena Cava Filters
- Coronary Artery Disease
- Peripheral Artery Disease
By Absorption Rate
- Slow-Absorption Stents
- Fast-Absorption Stents
By End User
- Cardiac Centers
- Specially clinics/ Clinics
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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