"Bioresorbable vascular scaffold market to exhibit dynamic growth during the forecast period"
The global bioresorbable vascular scaffold market is growing proficiently, expected to grow at a CAGR of 10.3%. Worldwide, the increasing prevalence of coronary heart-related disorders and other cardiovascular disorders will drive the growth of the market. Increasing awareness about new bioabsorbable technology to overcome the limitations by permanent metallic endoprosthesis along with the launch of advanced cardiac stents with integrated solutions will boost the overall demand in the developed nations. Top-quality improved biomaterials (metal or polymer) are few of the major factors driving the demand of bioresorbable vascular scaffold market on a global scale.
Market Synopsis
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"Polymer based stents segment expected to register higher growth by the end of 2027"
Advancement in polymer bioabsorbable scaffolds along with the development in the field of metal alloys will drive the market growth. These stents, without any external intervention prevent restenosis and thrombosis. For e.g. Magmaris, it is the first clinically proven coronary resorbable magnesium alloy scaffold, released by Biotronik. Advancement in polymer technology along with biological vascular scaffolds will enhance market growth. In July 2016, the U.S FDA approved Absorb GT1 bioresorbable vascular scaffold system (BVS) made from a polymer called poly (L-lactide). New product development, rising hospital admissions for ischemic heart disease along with by-pass cardiac surgical procedures will drive the market growth on a global scale.
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"Coronary heart diseases to witness a significant CAGR"
Growing hospital admissions for coronary heart disease and its surgical treatment generated maximum market share in 2018. Moreover, huge patient pool with cardiovascular-related disorders on a global scale will drive the market growth globally. In 2017, according to statistics by WHO, cardiovascular disease accounted for more than 17.5 million deaths globally, majorly due to heart attack and stroke. Additionally, the increasing prevalence for ischemic heart disease, acute coronary syndrome, and peripheral artery related conditions will drive the overall demand for bioresorbable vascular scaffold market. Advancement in synthetic technology, FDA approval for advanced products, and increasing geriatric and obese population offers a huge advantage in the global stent industry.
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"Increased research and development with strong product pipelines in the developed regions"
Major players in the bioresorbable vascular scaffold market are Cook Medical, Medtronic, plc., Abbott Laboratories, Stentys SA, C. R. Bard, Inc., MAQUET Holding B.V. & Co. KG, Boston Scientific Corporation, Terumo Corporation, W.L. Gore & Associates, Boston Scientific Corporation, AngioDynamics, Inc., Vygon Ltd. and others. Major enterprises are developing new stents with advanced mesh technologies with combined biological solutions. Merger and acquisitions, partnerships and improved R&D on bioresorbable vascular scaffolds will drive the market growth in the near future.
Historical & Forecast Period
This study report represents analysis for each segment from 2017 to 2027 considering 2018 to be the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period from 2019 to 2027.
Report Scope by Segments
Market Segmentation
| ATTRIBUTE |
DETAILS |
| Research Period |
2017-2027 |
| Base Year |
2018 |
| Forecast Period |
2019-2027 |
| Historical Year |
2017 |
| Unit |
USD Million |
| Segmentation |
Material Type (2017–2027; US$ Mn)
• Polymer Based Stents
• Metallic Stents
|
|
Disease Indication (2017–2027; US$ Mn)
• Coronary Heart Disease
• Peripheral Artery Disease
• Other Cardiovascular Diseases
|
|
End User Segment (2017–2027; US$ Mn)
• Hospitals
• Specialty Clinics
• Ambulatory Surgical Centers
|
|
Geography Segment (2017–2027; US$ Mn)
• North America (U.S., Rest of North America)
• Europe (U.K., Germany, France, Rest of Europe)
• Asia Pacific (Japan, China, India, Rest of Asia Pacific)
• Rest of the World (Middle East & Africa, Latin America)
|
The current report also comprehends qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints and opportunities that gives a better market understanding of the overall bioresorbable vascular scaffold market. Additionally, the global report also comprises graphical representation of competitive landscape based on their market initiatives and strategies, product portfolio and business strengths.
Key questions answered in this report
- What are the current market trends and dynamics in the bioresorbable vascular scaffold market and valuable opportunities for emerging players?
- Which segment accounts for the fastest CAGR during the forecast period?
- Which material type segment holds a larger market share and why?
- Are low and middle-income economies investing in the bioresorbable vascular scaffold market?
- What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America and Middle East & Africa?
