Bioabsorbable Stents Market by End-user and Geography - Forecast and Analysis 2021-2025

The bioabsorbable stents market share is expected to increase by USD 126.13 million from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 7.11%.

This bioabsorbable stents market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers bioabsorbable stents market segmentation by end-user (hospitals and ambulatory surgical centers), material (polymeric stents and metallic stents), and geography (North America, Europe, Asia, and ROW). The bioabsorbable stents market report also offers information on several market vendors, including Abbott Laboratories, B. Braun Melsungen AG, Boston Scientific Corp., Elixir Medical Corp., Kyoto Medical Design Co. Ltd., Lifetech Scientific (Shenzhen) Co. Ltd., Medtronic Plc, MicroPort Scientific Corp., Tepha Inc., and Terumo Corp. among others.

What will the Bioabsorbable Stents Market Size be During the Forecast Period?

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Bioabsorbable Stents Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a positive impact on the market growth during and post-COVID-19 era. The increasing prevalence of cads is notably driving the bioabsorbable stents market growth, although factors such as stringent regulation for approval of devices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the bioabsorbable stents industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Bioabsorbable Stents Market Driver

One of the key factors driving the bioabsorbable stents market is the increasing prevalence of CADs. There has been a rise in the incidence of cardiac diseases globally, with cardiac arrest being the leading cause of death among individuals aged 60 years and above. According to World Health Organization (WHO), cardiac disorders account for over 17.9 million deaths every year. Hypertension is the most common reason for heart failure, which is caused due to a rise in blood pressure in the arteries. This is an important risk factor for various CVDs like heart failure, stroke, CAD, and PVD. These health risk factors are attributed to unhealthy dietary habits, increased stress, and lack of physical activity. Also, people suffering from lifestyle-related diseases like obesity and depression need to undergo regular blood pressure checks. Therefore, the growing number of patients with CHD would increase the demand for bioabsorbable stents.

Key Bioabsorbable Stents Market Trend

The advent of metallic stents is another factor supporting the bioabsorbable stents market growth in the forecast period. The advances in vascular surgery have brought great focus on development and newer ways to solve difficult clinical problems. The usage of new alloys like magnesium and zinc led to the design and manufacture of advanced bioabsorbable stents. These alloys increase the biocompatibility and flexibility of stents. Moreover, the launch of stents made of biodegradable polymer is accelerating the market growth because this material reduces the rate of restenosis and prevents re-clogging. For instance, Biosensors International's BioMatrix Flex stent system offers a distinctive combination of Biolimus A9 (BA9), an anti-restenosis drug, with a biodegradable poly-lactic acid polymer coated onto an advanced, highly flexible stent platform designed for enhanced deliverability of the stent. Therefore, the development of new alloys in the manufacture of stents is expected to lead to an increase in the adoption of bioabsorbable stents in the treatment of CADs and PADs.

Key Bioabsorbable Stents Market Challenge

Stringent regulation for the approval of devices will be a major challenge for the bioabsorbable stents market during the forecast period. Regulatory authorities have enforced a stringent regulatory framework and labeling requirements for medical devices. These devices are always considered high risk and undergo safety examination to demonstrate efficacy before they are granted approval. The FDA might delay or reject devices, which do not demonstrate the required safety. Therefore, a vast proportion of the devices in the market do not yet have FDA approval but are still in the process of attaining them. It may take several years for the devices to satisfy the requirements of the regulatory agencies. Moreover, failure to comply with such laws and regulations could have an adverse effect on the growth of the market. However, obtaining these approvals is time-consuming. Some devices undergo rigorous clinical testing before their approval, and sometimes an extensive agency review process is followed for medical devices. Therefore, there are very few products in the market which affect the growth of the market.

This bioabsorbable stents market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global bioabsorbable stents market as a part of the global healthcare supplies market that primarily covers manufacturers of medical products, including all categories of supplies such as consumables and disposables like safety needles, syringes, and catheters. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the bioabsorbable stents market during the forecast period.

Who are the Major Bioabsorbable Stents Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

• Abbott Laboratories
• B. Braun Melsungen AG
• Boston Scientific Corp.
• Elixir Medical Corp.
• Kyoto Medical Design Co. Ltd.
• Lifetech Scientific (Shenzhen) Co. Ltd.
• Medtronic Plc
• MicroPort Scientific Corp.
• Tepha Inc.
• Terumo Corp.

 

This statistical study of the bioabsorbable stents market encompasses successful business strategies deployed by the key vendors. The bioabsorbable stents market is fragmented and the vendors are deploying growth strategies such as new product development with advanced technologies to compete in the market.

Product Insights and News

• Abbott Laboratories - The company offers absorb GT1 bioresorbable vascular scaffold.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The bioabsorbable stents market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Bioabsorbable Stents Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the bioabsorbable stents market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global healthcare supplies market includes the following core components:

• Inputs
• Inbound logistics
• Operations
• Outbound logistics
• Marketing and sales
• Service
• Support activities
• Innovation

The report has further elucidated other innovative approaches being followed by service providers to ensure a sustainable market presence.

 

Which are the Key Regions for Bioabsorbable Stents Market?

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41% of the market’s growth will originate from North America during the forecast period. US and Canada are the key markets for the bioabsorbable stents market in North America. Market growth in this region will be faster than the growth of the market in other regions.

The presence of local and global players in the market will facilitate the bioabsorbable stents market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the outbreak of COVID-19 impacted the operation of many industries in the region. The US was one of the most affected countries by the pandemic in North America in 2020. Due to the restricted movement of people and priority for COVID-19 treatment, the number of PAD and CAD-related surgeries declined in the region. Similarly, due to the increased focus of pharmaceutical companies on the R&D of COVID-19 treatment, the clinical trials for bioabsorbable stents were affected in 2020. However, the above-mentioned impacts are expected to be short-term. For example, all the medical services for CAD and PAD have been resumed in most of the countries in the region after the lifting of lockdowns. Therefore, such factors are expected to drive the growth of the market in focus during the forecast period.

What are the Revenue-generating End-User Segments in the Bioabsorbable Stents Market?

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The bioabsorbable stents market share growth by the segments. The hospital segment will be significant during the forecast period. The advanced medical infrastructure and trained professionals cater to the needs of people. There is a rise in the use of bioabsorbable stents due to the increase in the number of cardiovascular procedures carried out at hospitals.

This report provides an accurate prediction of the contribution of all the segments to the growth of the bioabsorbable stents market size and actionable market insights on post COVID-19 impact on each segment.

 

Bioabsorbable Stents Market Scope
Report Coverage	Details
Page number	120
Base year	2020
Forecast period	2021-2025
Growth momentum & CAGR	Accelerate at a CAGR of 7.11%
Market growth 2021-2025	$ 126.13 million
Market structure	Fragmented
YoY growth (%)	6.20
Regional analysis	North America, Europe, Asia, and ROW
Performing market contribution	North America at 41%
Key consumer countries	US, Canada, Germany, UK, and Japan
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Abbott Laboratories, B. Braun Melsungen AG, Boston Scientific Corp., Elixir Medical Corp., Kyoto Medical Design Co. Ltd., Lifetech Scientific (Shenzhen) Co. Ltd., Medtronic Plc, MicroPort Scientific Corp., Tepha Inc., and Terumo Corp.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Bioabsorbable Stents Market Report?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive bioabsorbable stents market growth during the next five years
• Precise estimation of the bioabsorbable stents market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the bioabsorbable stents industry across North America, Europe, Asia, and ROW
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of bioabsorbable stents market vendors

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