The bioresorbable vascular scaffold market is expected to exhibit dynamic growth during the forecast period.
The global bioresorbable vascular scaffold market is growing proficiently and is 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 of the permanent metallic endoprosthesis, along with the launch of advanced cardiac stents with integrated solutions, will boost the overall demand in developed nations. Top-quality, improved biomaterials (metal or polymer) are a few of the major factors driving the demand for the bioresorbable vascular scaffold market on a global scale.
The polymer-based stents segment is expected to register higher growth by the end of 2027.
Advancements in polymer bioabsorbable scaffolds, along with developments in the field of metal alloys, will drive market growth. These stents, without any external intervention, prevent restenosis and thrombosis. For example, Marmaris is the first clinically proven coronary resorbable magnesium alloy scaffold released by Biotronik. Advancements in polymer technology, along with biological vascular scaffolds, will enhance the market growth. In July 2016, the U.S. FDA approved the 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, and bypass cardiac surgical procedures will drive market growth on a global scale.
Coronary heart diseases to witness a significant CAGR.
Growing hospital admissions for coronary heart disease and its surgical treatment generated the largest market share in 2018. Moreover, a huge patient pool with cardiovascular-related disorders on a global scale will drive the market’s growth globally. In 2017, according to statistics by the WHO, cardiovascular disease accounted for more than 17.5 million deaths globally, mostly due to heart attack and stroke. Additionally, the increasing prevalence of ischemic heart disease, acute coronary syndrome, and peripheral artery-related conditions will drive the overall demand for the bioresorbable vascular scaffold market. Advancements in synthetic technology, FDA approval for advanced products, and an increasing geriatric and obese population offer a huge advantage in the global stent industry.
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 and combined biological solutions. Mergers and acquisitions, partnerships, and improved R&D on bioresorbable vascular scaffolds will drive market growth in the near future.
Historical and Forecast Period
This study report represents an analysis of each segment from 2017 to 2027, considering 2018 to be the base year. The compound annual growth rate (CAGR) for each of the respective segments is estimated for the forecast period from 2019 to 2027.
Report Scope by Segments
The current report also encompasses qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints, and opportunities that give a better understanding of the overall bioresorbable vascular scaffold market. Additionally, the global report also comprises a graphical representation of the competitive landscape based on their market initiatives and strategies, product portfolios, and business strengths.
Key questions are answered in this report.
- What are the current market trends and dynamics in the bioresorbable vascular scaffold market, and what are the 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 are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and the Middle East and Africa?