Bioresorbable Vascular Scaffold Market Size, Share & Trends Analysis Report By Application (Peripheral Artery, Coronary Artery), By End-use ((Hospitals, Ambulatory Care Centers, Specialty Clinics), By Region, And Segment Forecasts, 2024 - 2030

Bioresorbable Vascular Scaffold Market Size, Share & Trends Analysis Report By Application (Peripheral Artery, Coronary Artery), By End-use ((Hospitals, Ambulatory Care Centers, Specialty Clinics), By Region, And Segment Forecasts, 2024 - 2030

Bioresorbable Vascular Scaffold Market Growth & Trends

The global bioresorbable vascular scaffold market size is expected to reach USD 715.09 million by 2030, expanding at a CAGR of 8.7% from 2024 to 2030, based on a new Grand View Research, Inc. report. The market is experiencing significant growth driven by the increasing prevalence of cardiovascular diseases and the need for effective, minimally invasive treatments. According to the 2024 Heart Disease and Stroke Statistics Update Fact Sheet, cardiovascular disease (CVD) remains a significant public health concern in the U.S., with 931,578 deaths attributed to it as the underlying cause in 2021. The impact of heart disease and stroke is staggering, as they claimed more lives in 2021 than all forms of cancer and chronic lower respiratory disease combined.

The prevalence of CVD is alarmingly high, with 127.9 million US adults (48.6%) having some form of the disease between 2017 and 2020. The economic burden of CVD is also substantial, with direct and indirect costs totaling USD 422.3 billion between 2019 and 2020, including USD 254.3 billion in direct costs and USD 168.0 billion in lost productivity and mortality. These statistics underscore the urgent need for continued research, prevention, and treatment efforts to address the growing burden of cardiovascular disease in the U.S.

In addition to the increasing prevalence of CVD, technological advancements in the bioresorbable vascular scaffold (BVS) and a robust product pipeline are other factors expected to drive the growth of the market during the forecast period. For instance, in April 2024, the US Food and Drug Administration approved an everolimus-eluting bioresorbable scaffold (Esprit BTK) for patients with below-the-knee (BTK) infrapopliteal disease, according to an announcement from manufacturer Abbott. This approval highlights the ongoing development and innovation in the BVS market, providing new treatment options for patients with cardiovascular conditions.

Moreover, the evolution of next-generation bioresorbable vascular scaffolds (BRSs) with enhanced mechanical properties is a significant catalyst driving the global market's expansion. Previous versions of BRSs encountered challenges such as thicker struts and higher crossing profiles, limiting their widespread application. However, the latest BRSs utilize absorbable materials with superior mechanical attributes, enabling the production of thinner struts and reduced crossing profiles, improving deliverability, conformability, and flexibility for complex lesions and smaller vessels.

These advancements have resulted in improved clinical outcomes, including enhanced vessel healing, reduced restenosis rates, and decreased risks of adverse events like stent thrombosis, fostering increased adoption of BRSs worldwide. The growing preference for minimally invasive procedures, an aging population, and the escalating prevalence of cardiovascular diseases globally indicate a promising trajectory for the market on a global scale.

Bioresorbable Vascular Scaffold Market Report Highlights

• The coronary artery segment accounted for a revenue share of 84.59% in 2023. This is due to the high prevalence of coronary artery diseases and the increasing demand for minimally invasive treatments. Additionally, the advancements in bioresorbable scaffold technology have led to improved device performance and patient outcomes, further driving the growth of this segment.
• The hospitals segment held the largest revenue share of over 74.21% in 2023. This is due to the high volume of cardiovascular procedures performed in hospitals and the availability of advanced medical facilities. Additionally, hospitals often serve as referral centers for complex cases, further driving the demand for bioresorbable vascular scaffolds.For instance, in 2023, hospitals in the U.S. performed over 900,000 coronary interventions, according to the American College of Cardiology. This high procedure volume, coupled with the benefits of bioresorbable vascular scaffolds, such as reduced long-term complications and improved patient outcomes, contributes to the hospital segment's leading market share.
• In 2023, North America led the market share, due to the presence of a large patient pool suffering from cardiovascular diseases, a well-established healthcare infrastructure, and a high adoption rate of advanced medical technologies. Additionally, the region is home to several key players in the market, such as Abbott, Boston Scientific Corporation, and Medtronic, which are continuously investing in R&D activities to develop innovative products and expand their market presence.
• Market players are implementing various strategic initiatives to enhance product reach and availability across different geographic regions.

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