Major players in the bioabsorbable stents market are Abbott Laboratories, REVA Medical, Elixir Medical Corporation, Biotronik SE & Co. KG, Amaranth Medical Inc. , Zorion Medical, Tepha, Inc. , S3V Vascular Technologies, ICON Interventional Systems, and Arterius Limited.
New York, July 30, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Bioabsorbable Stents Global Market Report 2020-30: Covid 19 Growth and Change" - https://www.reportlinker.com/p05948405/?utm_source=GNW
The global bioabsorbable stents market is expected to decline from $296.9 million in 2019 to $294.75 million in 2020 at a compound annual growth rate (CAGR) of -0.73%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The outbreak also restricted or postponed the non-emergency treatments for cardiovascular diseases impacting the market revenue. The market is then expected to recover and reach $408.92 million in 2023 at a CAGR of 11.53%.
The bioabsorbable stents market consists of sales of bioabsorbable stents and related services. Bioabsorbable stents, also known as Bioresorbable stents (BRS) or vascular scaffolds are coronary stents that can fully dissolve in the body. These biodegradable stents are used in percutaneous coronary intervention (PCI) procedures for providing structural support to the treated vessels and prevent acute recoil & restenosis. Bioabsorbable stents are commonly used in the treatment of heart diseases.
Europe was the largest region in the bioabsorbable market in 2019.
The drug-eluting stent (DES) is gaining significant popularity in the bioabsorbable stents market. The drug-eluting stent (DES) device designed to avoid the regeneration of tissue that would otherwise obstruct the artery and this was a new step forward in the treatment of peripheral artery disease. In 2018, Boston Scientific launched its self-expanding drug-eluting stent (DES) peripheral artery disease (PAD) scheme which helped the company to expand its PAD portfolio. In 2018, around 13 million stents were sold worldwide. According to a study published in the Journal of Cardiothoracic Surgery in January 2020, DES is safer than bioresorbable vascular stents for coronary revascularization.
The bioabsorbable stents market covered in this report is segmented by product type into polymer-based bioabsorbable stents; metal-based bioabsorbable stents. It is also segmented by absorption rate into slow- absorption stents; fast- absorption stents and by applications into coronary artery diseases; peripheral artery diseases.
The risks associated with bioabsorbable stents restrain the growth of the market. The high risks with stents force companies to withdraw their devices from the market reducing the revenues from bioabsorbable stents. For instance, in 2017, Abbott had to withdraw its product Absorb and Boston Scientific terminated their Renuvia scaffold development program as the devices showed a high risk of myocardial infarction and thrombosis. This was due to the non-uniform structure of the polymer used in the stents that makes the device susceptible to large deformation and causes flow disruption.
Increasing cardiovascular diseases is a key factor driving the growth of the bioabsorbable stents market. Cardiovascular disorders are the leading cause of death across the world and 4 out of 5 cardiovascular deaths are caused by strokes and heart attacks. Moreover, one-third of such deaths occur prematurely in people under the age of 70. Bioresorbable stents are built primarily to reduce these risks of late complications, such as scaffold thrombosis or restenosis, that can happen when a conventional metal stent’s rigid metal backbone remains permanently rooted in the diseased vessel. According to the American Heart Association, it is estimated that more than 23.6 million die due to cardiovascular diseases by 2030. Therefore, increasing cardiovascular diseases are expected to drive the growth of the bioabsorbable stents market.
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