Global Bioabsorbable Stents Market was valued US$ 281.01 Mn in 2019 and is expected to reach US$ XX Mn by 2026, at a CAGR of XX% during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
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The bioabsorbable stents are the devices inserted into the blood vessel and other internal vessels to check a blockage. These stents are made up of materials may be absorbed or dissolved in the body.
The major driving factors of the global bioabsorbable stents market are increasing in the incidence of cardiac diseases, the risk of coronary artery & peripheral artery diseases in the elderly population, and number of heart failure and diabetes cases. Additionally, strong product pipelines, rising technological advancements, and increasing diabetic population are also drives the market growth. Rising demand from emerging economies as well as target high-risk patients is a key opportunity for bioabsorbable stents market growth. Further, rising healthcare expenditure in the emerging countries are also a major opportunity for bioabsorbable stents market.
Some challenges of the global bioabsorbable stents market are the availability of substitute, increasing R&D activities for the cell transplantation to treat the heart, a stringent guideline for authorization of devices, and growing competition among vendors. Slow adoption rate, stringent government regulations, and the high cost of devices are hampering the global bioabsorbable stents market growth.
The bioabsorbable stents market is segmented into absorption rates, drugs, applications, end users, materials, and region. The bio absorbable stents market based on absorption rates includes slow absorption stents and fast absorption stents. In terms of the drugs, the bioabsorbable stents market is classified into paclitaxel, and limus based drugs. Based on the bioabsorbable stents market, applications segment is divided into coronary artery disease and peripheral artery disease.
In terms of an end users, bioabsorbable stents market is categorized into hospitals and cardiac centers. Further, bioabsorbable stents market based on materials includes polymeric stents and metallic stents. Based on regions, the global bioabsorbable stents market is divided into five main regions are America, Europe, Asia-pacific, Latin America and Middle East & Africa. By end use, the hospital segment dominated the market during in terms of revenue and will continue to lead until the end of the forecast period due to the advanced medical infrastructure and trained professionals to cater to the needs of people, which are not usually seen in cardiac centers and small clinics.
In terms of material, polymeric bioabsorbable stents are widely used in cardiovascular devices. Polymers used in bioabsorbable stents are Poly-L-Lactic acid, Poly copolymer, Polyglycolic Acid, and polycaprolactone. Polymeric stents market is anticipated to grow at a faster rate. Usage of bioabsorbable polymer coating reduces the need for extended dual antiplatelet therapy and reduces thrombotic events. Poly-L-Lactic acid is widely used in medicine and breaks down lactic acid into natural metabolites in the human body.
Based on application, the coronary artery diseases accounted for XX % largest share of the market, due to the increasing population prone to coronary artery diseases and the adoption of unhealthy lifestyle habits leading to increased risk of these diseases.
Geographically, The Asia-Pacific market is anticipated to the fastest-growing region for the bioabsorbable stent market, due to the growing population of the geriatric people as well as the increasing awareness among people about the procedure and the products in the region. Rapidly developing healthcare infrastructure, medical tourism, and a growing geriatric population is some of the major factors that are driving the growth of the bioabsorbable stents market in the region.
The key players operating in the global bioabsorbable stents market are 480 Biomedical, Abbott, Amaranth Medical Inc., Arterial Remodeling Technologies, Arterius Limited, BIOTRONIK, Boston Scientific Corporation, Elixir Medical Corporation, HangZhou HuaAn Biotechnology Co., Ltd, KYOTO MEDICAL PLANNING Co. Ltd., LEPU MEDICAL TECHNOLOGY CO. LTD., Lifetech Scientific (Shenzhen) Co. Ltd, Manli Cardiology Ltd., Meril Life Sciences Pvt. Ltd., ORBUSNEICH, QualiMed, REVA Medical Inc., S3V Vascular Technologies, SMT, TEPHA INC, and Zorion Medical Inc.
The objective of the report is to present comprehensive analysis of Global Bioabsorbable Stents Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers. The report also helps in understanding Global Bioabsorbable Stents Market dynamics, structure by analyzing the market segments, and project the Global Bioabsorbable Stents Market size. Clear representation of competitive analysis of key players by Global Bioabsorbable Stents type , price, financial position, product portfolio, growth strategies, and regional presence in the Global Bioabsorbable Stents Market make the report investor’s guide.
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Global Bioabsorbable Stents Market, by Absorption rates:
• Slow absorption stents
• Fast absorption stents
Global Bioabsorbable Stents Market, by Drugs:
• Limus based drugs
Global Bioabsorbable Stents Market, by Applications:
• Coronary artery disease
• Peripheral artery disease
Global Bioabsorbable Stents Market by End-users:
• Cardiac centers
Global Bioabsorbable Stents Market by Materials:
• Polymeric Stents
• Metallic Stents
Global Bioabsorbable Stents Market, by Region:
• North America
• Middle East & Africa
• Asia Pacific
• Latin America
The Key Players Operating In the Global Bioabsorbable Stents Market:
• 480 Biomedical
• Amaranth Medical Inc.
• Arterial Remodeling Technologies
• Arterius Limited
• Boston Scientific Corporation
• Elixir Medical Corporation
• HangZhou HuaAn Biotechnology Co., Ltd
• KYOTO MEDICAL PLANNING Co. Ltd.
• LEPU MEDICAL TECHNOLOGY CO. LTD.
• Lifetech Scientific (Shenzhen) Co. Ltd
• Manli Cardiology Ltd.
• Meril Life Sciences Pvt. Ltd.
• REVA Medical Inc.
• S3V Vascular Technologies
• TEPHA INC
• Zorion Medical Inc
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