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Global Bioabsorbable Stents Market - Segmented by Type of Product, Application, Absorption Rate, End User, and Geography - Growth, Trends, and Forecast (2018 - 2023)

Global Bioabsorbable Stents Market - Segmented by Type of Product, Application, Absorption Rate, End User, and Geography - Growth, Trends, and Forecast (2018 - 2023)

The global bioabsorbable stents market is expected to register a CAGR of 11% during the forecast period (2018 - 2023). Bioabsorbable stents are normally used in the treatment of blocked arteries. These stents are tiny, stretchy mesh tubes that hold arteries open and can help in the treatment of coronary and peripheral artery diseases. Bioabsorbable stents are fully biodegradable stents which will completely disappear over time.

High Prevalence of Cardiovascular Diseases Globally

According to World Health Organization (WHO), cardiovascular diseases are the number one cause of death globally. In 2015, it is estimated that about 17.7 million people died because of cardiovascular diseases and in these deaths, it was estimated that 7.4 million people died because of coronary heart disease and 6.7 million people died of a stroke. Thus, a large number of people are already suffering from these cardiovascular diseases, and with the increase in population the number of people with cardiovascular diseases is expected to rise. This rise in the disease rate is also expected to increase the usage of stents, in turn, it is expected to drive the market during the forecast years. The changing lifestyles, rising obese population, and steep growth in the geriatric population are the major driving factors for the market growth.

High Device Cost

The high cost of the device is a major restraint for the bioabsorbable stents market. The cost of the stent depends on the type, which may cost USD 1800. In addition to the cost of the bioabsorbable stent, other aspects such as the cost of the procedure that can add to the cost of bioabsorbable stent’s usage. The high cost of the device hinders the growth of the market, as surgeons prefer the conventional stents over the bioabsorbable stents due to their difference in cost. Along with the high cost, other factors, such as stringent regulatory policies and safety issues related to bioabsorbable stents are also hindering the growth of the market.

Europe to dominate the Market

Europe has the largest market share in bioabsorbable stents market, followed by North America. Asia-Pacific is expected to have the highest growth rate in the forecast period, due to the increasing awareness among people about the procedure and the products. The US FDA has approved only one product, namely Abbott Absorb, and it is now commercially available in the US. However, several products are being developed, some are in clinical trials and others in various stages of development, which is an indication of a bright future for this market.

Key Developments in the Market

September 2017: Abbott Laboratories halted the global sales of their fully absorbable stent-Absorb Bioresorbable Vascular Scaffold (BVS).
April 2017: Reva Medical has secured a CE mark for its drug-eluting bioresorbable coronary scaffold.


Reasons to Purchase this Report

Current and future bioabsorbable stents market outlook in the developed and emerging markets
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
The segment that is expected to dominate the market
Regions that are expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in Excel)

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1. Introduction
1.1 Market Definition
2. Research Methodology
3. Executive Summary
4. Key Inferences
5. Market Overview
5.1 Current Market Scenario
5.2 Porter's Five Forces Analysis
5.2.1 Bargaining Power of Suppliers
5.2.2 Bargaining Power of Consumers
5.2.3 Threats of New Entrants
5.2.4 Threat of Substitute Product and Services
5.2.5 Competitive Rivalry within the Industry
6. Drivers, Restraints, Opportunities and Challenges Analysis (DROC)
6.1 Market Drivers
6.1.1 High Prevalance of Cardiovascular Diseases Globally
6.1.2 Steep Increase in Aging Population, Especially in Developed Countries
6.1.3 Expanding Base of Obese Population
6.2 Market Restraints
6.2.1 Stringent Regulatory Scenario
6.2.2 High Device Cost
6.2.3 Safety Issues Related to Bioabsorbable Stents
6.3 Opportunities
6.4 Key Challenges
7. Market Segmentation
7.1 Segmentation -by Product Type
7.1.1 Polymer Based Bioabsorbable Stents
7.1.2 Metal Based Bioabsorbable Stents
7.2 Segmentation -by Application
7.2.1 Coronary Artery Disease
7.2.2 Peripheral Artery Disease
7.2.3 Others
7.3 Segmentation -by Absorption Rate
7.3.1 Slow Absorption Rate
7.3.2 Intermediate Absorption Rate
7.3.3 Fast Absorption Rate
7.4 Segmentation -by End User
7.4.1 Hospitals
7.4.2 Ambulatory Surgical Centers
7.4.3 Others
7.5 Segmentation - by Geography
7.5.1 North America United States Canada Mexico
7.5.2 Europe France Germany United Kingdom Italy Spain Rest Of Europe
7.5.3 Asia-Pacific China Japan India Australia & New Zealand South Korea Rest of Asia-Pacific
7.5.4 Middle East & Africa GCC South Africa Rest of the Middle East & Africa
7.5.5 South America Brazil Argentina Rest of South America
8. Competitive Landscape
8.1 Mergers & Acquisition Analysis
8.2 Agreements, Collaborations, and Partnerships
8.3 New Products Launches
9. Key Players
9.1 Abbott Laboratories
9.2 Kyoto Medical Planning Co. Ltd
9.3 Reva Medical
9.4 Elixir Medical Corporation
9.5 Amaranth Medical
9.6 Terumo Corporation
9.7 Arterius Limited
9.8 Biotronik
9.9 Xenogenics Corporation
9.10 Meril Life Sciences Pvt. Ltd.
9.11 Others
10. Future of the Market

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