Global Fast-Absorption Bioabsorbable Stents Market Size By Application,By Material, By End User, By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Fast- absorption Bioabsorbable Stents Market Size And Forecast
Fast- absorption Bioabsorbable Stents Market size was valued at USD 375.8 Million in 2023 and is projected to reach USD 560.7 Million by 2030, growing at a CAGR of 6.4% during the forecast period 2024-2030.
Global Fast- absorption Bioabsorbable Stents Market Drivers
The market drivers for the Fast- absorption Bioabsorbable Stents Market can be influenced by various factors. These may include
Technological DevelopmentsFast-absorption bioabsorbable stents with enhanced qualities, including quicker absorption rates, better mechanical performance, and a lower risk of problems, have been made possible by developments in material science and medical device technology.
Decreased Long-Term ComplicationsBecause bioabsorbable stents are absorbed by the body gradually, they do not require long-term dual antiplatelet treatment (DAPT) and do not have the same risk of restenosis and late stent thrombosis as permanent metallic stents.
Growing Prevalence of Cardiovascular disordersTo meet the needs of the expanding patient population, there is a growing need for novel stent technologies due to the rising prevalence of cardiovascular disorders, including hypertension, peripheral artery disease, and coronary artery disease.
Ageing PopulationAs the world’s population ages, cardiovascular problems are becoming more common, which is driving up demand for minimally invasive treatments like bioabsorbable stents.
Regulatory InitiativesThe development and licencing of bioabsorbable stents have been aided by regulatory bodies like the FDA and the European Medicines Agency (EMA), which have created a favourable regulatory climate for the market’s expansion.
Patient Preference for Minimally Invasive TreatmentsWhen compared to open procedures, patients are becoming more and more in favour of minimally invasive treatment choices that provide shorter recovery periods and a lower risk of problems.
Potential for Lower Healthcare expendituresBy reducing the need for recurrent procedures and related consequences, bioabsorbable stents have the potential to lower long-term healthcare expenditures, while potentially having higher upfront costs than typical metallic stents.
Growing Knowledge and Adoption by Medical ProfessionalsAs bioabsorbable stents become more widely used as a preferred treatment choice for patients who qualify, medical professionals are starting to recognise the advantages of these devices.
Global Fast- absorption Bioabsorbable Stents Market Restraints
Several factors can act as restraints or challenges for the Fast- absorption Bioabsorbable Stents Market. These may include
CostCompared to conventional metallic stents, theion of fast-absorption bioabsorbable stents is frequently more expensive. This increased expense can be a major deterrent, especially in areas with tight healthcare budgets or where patients would have to pay some of the bill out of pocket.
Low Clinical dataIn comparison to traditional metallic stents, the long-term clinical data for the safety and effectiveness of fast-absorption bioabsorbable stents may still be inadequate, despite encouraging early findings. These emerging technologies may cause physicians and patients to hesitate in their adoption due to a lack of solid facts.
Technical DifficultiesCreating bioabsorbable stents that absorb quickly and completely while maintaining ideal mechanical characteristics, such as enough radial strength and flexibility, and preventing side effects is a challenging task. It might also be concerning when patients’ absorption rates vary.
Obstacles related to regulationsThe approval procedures for stents and other medical devices can be onerous and time-consuming. Market introduction for fast-absorption bioabsorbable stents may be delayed if comprehensive clinical trials and proof of safety and efficacy are needed to get clearances.
Physician Knowledge and TrainingCompared to traditional metallic stents, fast-absorption bioabsorbable stents may require more training for physicians to correctly implant and manage. Market penetration may be hampered by resistance to implementing new methods or tools because of a comfort level with current procedures.
Competitive LandscapeEstablished firms hold a dominant position in the highly competitive stent industry. To effectively compete with existing goods, a new technology such as fast-absorption bioabsorbable stents requires a substantial investment in research, development, and marketing.
Patient Acceptance and SelectionCompared to traditional stents, patient acceptance requirements for fast-absorption bioabsorbable stents may be more stringent. The long-term durability and established track record of metallic stents may be preferred by certain patients and clinicians over the apparent advantages of bioabsorbable ones.
ComplicationsFast-absorbing bioabsorbable stents, like any medical device, have the potential to cause problems including restenosis, thrombosis, or damage to blood vessels. Market acceptability depends on addressing these concerns and making sure that patients are chosen and managed appropriately.
Global Fast- absorption Bioabsorbable Stents Market Segmentation Analysis
The Global Fast- absorption Bioabsorbable Stents Market is Segmented on the basis of By Application, By Material, By End User and Geography.
By Application
Coronary Artery Disease (CAD)With a large market share, coronary artery disease (CAD) is the most popular use for fast-absorption bioabsorbable stents. Stents are used to maintain the arteries providing blood to the heart open and enhance blood flow when CAD narrows them.
Peripheral Artery Disease (PAD)The ailment known as peripheral artery disease (PAD) causes the arteries in the arms and legs to narrow. Fast-absorption bioabsorbable stents are being utilised more often to treat PAD because they may be more advantageous than conventional metallic stents.
Additional UsesThe use of fast-absorption bioabsorbable stents is being studied for additional uses, including tracheal stenosis, ureteral strictures, and biliary tract strictures.
By Material
PolymersThe most popular material utilised in fast-absorption bioabsorbable stents is polymer. They may be made to decompose at various speeds and have high biocompatibility.
MetalsMetals like iron or magnesium are used to make some fast-absorbable bioabsorbable stents. Compared to polymer stents, these stents provide superior strength and support, but they could break down more quickly.
By End User
HospitalsBecause they have access to a wide range of treatment choices and highly qualified personnel, hospitals are the largest end-user of fast-absorbable bioabsorbable stents.
Ambulatory surgery centersThe need for fast-absorption bioabsorbable stents is being driven by these facilities’ growing availability of minimally invasive treatments, such as stent implantation
By Geography
North AmericaMarket conditions and demand in the United States, Canada, and Mexico.
EuropeAnalysis of the Fast- absorption Bioabsorbable Stents Market in European countries.
Asia-PacificFocusing on countries like China, India, Japan, South Korea, and others.
Middle East and AfricaExamining market dynamics in the Middle East and African regions.
Latin AmericaCovering market trends and developments in countries across Latin America.
Key Players
The major players in the Fast- absorption Bioabsorbable Stents Market are
Abbott Laboratories
Boston Scientific Corporation
Medtronic plc
REVA Medical
Biotronik SE & Co. KG
Kyoto Medical Planning Co.
Elixir Medical Corporation
Amaranth Medical
Arterial Remodeling Technologies
Tepha
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2020-2030
BASE YEAR
2023
FORECAST PERIOD
2024-2030
HISTORICAL PERIOD
2020-2022
UNIT
Value (USD Million)
KEY COMPANIES PROFILED
Abbott Laboratories, Boston Scientific Corporation, Medtronic plc, REVA Medical, Biotronik SE & Co. KG, Kyoto Medical Planning Co., Elixir Medical Corporation, Amaranth Medical, Arterial Remodeling Technologies, Tepha
SEGMENTS COVERED
Application, Material, End User, And Geography.
CUSTOMIZATION SCOPE
Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope
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