Bioabsorbable Stents Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Bioabsorbable Stents Market is segmented by Product Type (Polymer-based Bioabsorbable Stents, Metal-based Bioabsorbable Stents), Application, Absorption Rate, End User, and Geography

Market Snapshot

artificial organs market
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: North America
Largest Market: Europe
CAGR: 7.33 %

Need a report that reflects how COVID-19 has impacted this market and its growth?

Market Overview

The global bioabsorbable stents market is expected to grow with a CAGR of 8.53% during the forecasted period. Factors that are driving the market include a high prevalence of cardiovascular diseases, steep increase in the aging population, and the expanding base of the obese population.  

As per the report of the World Health Organization (WHO), it is seen that the number one cause of death across the world is cardiovascular disease. Furthermore, the WHO has estimated that in 2016, approximately 17.9 million people died due to cardiovascular diseases (CVDs) which represents 31% of the total global deaths, and 85% of these deaths were due to heart attack and stroke. As reported by the Australian Heart Foundation, cardiovascular disease (CVD) is a major cause of death in Australia, with 43,477 deaths being attributed to CVD in Australia in 2017. Cardiovascular disease kills one Australian every 12 minutes. Hence, this global rise in the prevalence of CVD is expected to fuel the market growth.

Scope of the Report

According to the report, the polymer-based or metal-based stents dissolve or get absorbed in the body, and are expected to overcome complications and risks associated with metallic stents.

Report scope can be customized per your requirements. Click here.

Key Market Trends

Polymer-based Bioabsorbable Stents Sub-segment is Expected to hold its Highest Market Share in the Product Type Segment

In the product type segment of the market, polymer-based bioabsorbable stents are believed to have the largest market size and are expected to witness a CAGR of 8.95% in the forecast period.

Bioabsorbable stents (BAS)/polymer-based bioabsorbable stents are made of the materials that can completely dissolve or be absorbed in the body. These are used both in peripheral and coronary artery disease. Most of the bioabsorbable stents are made of polylactic acid that is a naturally dissolvable material. However, the polymer materials, such as polycarbonates, polyesters, corrodible metals, and bacterial-derived polymers are under investigation for developing the next-generation bioabsorbable stents. The risk of the in-stent restenosis using drug-eluting and metallic stents (DES) has raised the need for bioabsorbable stents. The BAS has a low rate of late-stent thrombosis (LST) and restenosis, which led to the acceptance of BAS for clinical purposes. The product Absorb GT1 Bioresorbable Vascular Scaffold System (BVS) from Abbott was the first absorbable stent for coronary artery disease that received FDA in 2016, and was commercially available in Europe from 2011. However, on September 14, 2017, Abbott announced the end of sales of the Absorb bioresorbable vascular scaffold, due to poor sales and safety concerns, which led to a strong negative impact on the market. However, owing to the increased significance of the same, this sub-segment is expected to register substantial growth in the coming future.

Bioabsorbable Stents-1

Europe Dominates the Market and is Expected to do the Same in the Forecast Period

Europe currently dominates the market for bioabsorbable stents and is expected to continue its stronghold for a few more years. This region is expected to increase its market share in the future, owing to the increased usage of bioabsorbable stents. There is a rise in the usage because the region has a large number of people suffering from cardiovascular diseases and there is a huge demand for technologically advanced treatment options for the same.

Bioabsorbable Stents-2

Competitive Landscape

The bioabsorbable stents market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. However, with technological advancements and product innovations, mid-size to smaller companies are increasing their market presence by introducing new products at affordable prices. Companies, like Boston Scientific Corporation, Arterius Limited, Elixir Medical Corporation, Kyoto Medical Planning Co. Ltd, and Terumo Corporation, hold the substantial share in the market.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Introduction to Market Drivers and Restraints

    3. 4.3 Market Drivers

      1. 4.3.1 High Prevalence of Cardiovascular Diseases Globally

      2. 4.3.2 Steep Increase in Aging Population

      3. 4.3.3 Expanding Base of Obese Population

    4. 4.4 Market Restraints

      1. 4.4.1 Stringent Regulatory Scenario

      2. 4.4.2 High Device Cost

      3. 4.4.3 Safety Issues Related to Bioabsorbable Stents

    5. 4.5 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.5.1 Threat of New Entrants

      2. 4.5.2 Bargaining Power of Buyers/Consumers

      3. 4.5.3 Bargaining Power of Suppliers

      4. 4.5.4 Threat of Substitute Products

      5. 4.5.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product

      1. 5.1.1 Polymer-based Bioabsorbable Stents

      2. 5.1.2 Metal-based Bioabsorbable Stents

    2. 5.2 By Application

      1. 5.2.1 Coronary Artery Disease

      2. 5.2.2 Peripheral Artery Disease

    3. 5.3 By Absorption Rate

      1. 5.3.1 Slow Absorption Rate

      2. 5.3.2 Fast Absorption Rate

    4. 5.4 By End User

      1. 5.4.1 Hospitals

      2. 5.4.2 Other End Users

    5. 5.5 Geography

      1. 5.5.1 North America

        1. 5.5.1.1 United States

        2. 5.5.1.2 Canada

        3. 5.5.1.3 Mexico

      2. 5.5.2 Europe

        1. 5.5.2.1 Germany

        2. 5.5.2.2 United Kingdom

        3. 5.5.2.3 France

        4. 5.5.2.4 Italy

        5. 5.5.2.5 Spain

        6. 5.5.2.6 Rest of Europe

      3. 5.5.3 Asia-Pacific

        1. 5.5.3.1 China

        2. 5.5.3.2 Japan

        3. 5.5.3.3 India

        4. 5.5.3.4 Australia

        5. 5.5.3.5 South Korea

        6. 5.5.3.6 Rest of Asia-Pacific

      4. 5.5.4 Middle East & Africa

        1. 5.5.4.1 GCC

        2. 5.5.4.2 South Africa

        3. 5.5.4.3 Rest of Middle East & Africa

      5. 5.5.5 South America

        1. 5.5.5.1 Brazil

        2. 5.5.5.2 Argentina

        3. 5.5.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Boston Scientific Corporation

      2. 6.1.2 Arterius Limited

      3. 6.1.3 Elixir Medical Corporation

      4. 6.1.4 Kyoto Medical Planning Co. Ltd

      5. 6.1.5 Terumo Corporation

      6. 6.1.6 Abbott Laboratories Inc.

      7. 6.1.7 Amaranth Medical

      8. 6.1.8 Biotronik

      9. 6.1.9 Meril Life Sciences Pvt. Ltd

      10. 6.1.10 Reva Medical

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Competitive Landscape covers- Business Overview, Financials, Products and Strategies, and Recent Developments

You can also purchase parts of this report. Do you want to check out a section wise price list?

Frequently Asked Questions

The Bioabsorbable Stents Market market is studied from 2018 - 2026.

The Bioabsorbable Stents Market is growing at a CAGR of 7.33% over the next 5 years.

North America is growing at the highest CAGR over 2021- 2026.

Europe holds highest share in 2020.

Boston Scientific Corporation, Arterius Limited, Elixir Medical Corporation, Kyoto Medical Planning Co. Ltd, Terumo Corporation are the major companies operating in Bioabsorbable Stents Market.

80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please enter a valid email id!

Please enter a valid message!