08th Oct 2020 - The global Bioresorbable Coronary Stents Market size is expected to value at USD 247 million by 2025. The market is subject to witness a substantial growth due to the easy availability of post-approved with and tested lab results for Magmaris, Magnitude and next generation Absorb bioresorbable vascular scaffold (BVS) system.
Early adoption of the bioresorbable devices allows patients to live normal life with regular monitoring of artery. Bioresorbable devices also offers options to undergo an angioplasty in later stages in patient’s life. Globally, the bioresorbable coronary stents industry is predicted to grow at CAGR of 15% in forecast period, providing numerous opportunities for market players to invest for research and development in the market.
The pediatric patient suffering from genetic coronary conditions are targeted audience for fully dissolvable stents that enable normal functioning of vasomotor functions and vessel growth, thus driving the market demand for bioresorbable coronary stents market in recent years. Rising adoption of elective percutaneous coronary intervention or PCI techniques is one of the critical factors responsible for growth of the market.
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Increasing prevalence of cardiovascular diseases, stroke, coronary artery disease and atherosclerosis are giving rise to a growing number of concerns among healthcare professional and governmental agencies considering severity of these diseases. Changing food patterns, unhealthy lifestyles and obesity in urban areas across the globe are major risk factors leading to rise in incidence of stroke conditions, thus, driving the demand for interventional coronary procedures among young population.
Absence of primary guidelines to monitor procedure volumes and high approval rate by government agencies in various regions across the globe are anticipated to fuel the growth of the market. The Absorb bioresorbable vascular scaffold (BVS) is one of the fastest growing segment in the bioresorbable coronary stents industry with highest revenue generation in last couple of years. Though, unfavorable post-approval lab results are significantly hampering the sales of Absorb bioresorbable vascular scaffold (BVS) system due to concerns for safety and operational capability of such fully dissolvable devices. Thus, the rising need for more reliable and tested solutions coupled with post-approval data from governmental regulatory agencies, are opening up market for lesser known stents like Me Res-100 and DESolve in coming years.
The key players in the bioresorbable coronary stents industry are BIOTRONIK Incorporations, Meril Lifesciences Private Limited., Elixir Medical Co., REVA Medical Incorporations, Arterial Remodeling Technologies S.A., Amaranth Medical Incorporations, Microport Scientific Co., and Arterius Limited.
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The bioresorbable coronary stents industry is divided into regional market segment such as North America, Europe, Asia-Pacific, Latin America and Africa. European region has shown major growth in recent years owing to easy accessibility of CE-approved stents, and lack of presence for regular auditing checks, rise in the adoption of latest technologies, and existence well-established healthcare infrastructure.
Asia-Pacific region is predicted to hold major market share in the bioresorbable coronary stents market with massive growth in forecast period. Countries such as India, China and Japan are leading the Asia-Pacific market with rise in the patient pool and increasing investment by industry leaders considering potential opportunities in the region.
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