Global Bio absorbable market was valued approximately USD 400 million in 2016, is anticipated to grow 4250 million by 2025. The growth is primarily driven by the increasing risk of coronary artery and peripheral artery diseases. Moreover, there is a huge growth in both public and private funding in bioabsorbable stents. A significant growth opportunity is observed due to strong product pipelines which are expected to launch in coming years.
Material:
§ Polymer-Based
§ Metallic
Absorption Rate:
§ Adult Stem Cell Kits
§ Slow-Absorption
§ Fast-Absorption
Application:
§ Coronary Artery Disease
§ Peripheral Artery Disease
End User:
§ Hospitals
§ Cardiac Centers
Regions:
§ North America
o U.S.
o Canada
§ Europe
o UK
o Germany
o France
§ Asia Pacific
o China
o India
o Japan
§ Rest of the World
Among application segment, the coronary artery diseases application is growing at a rapid pace. The industry growth is attributed to growing prevalence of lifestyle-oriented diseases such as obesity, heart attacks, strokes, and others, rising geriatric population base is also pushing coronary artery diseases upward. Due to rising coronary artery diseases application, bioabsorbable stents are witnessing huge demand.
The regional market of the Bioabsorbable stent is dominated by North America region. The region has witnessed a significant rise in awareness levels for the use of bioabsorbable stents in the treatment of coronary ailments. Also, the rising prevalence of obesity, heart attacks, and other cardiac diseases is another key reason for the adoption of bioabsorbable stents. Asia Pacific is expected to grow at the highest CAGR during the forecast period. Increasing research spending and government support from Major countries such as India, China, and Japan have attributed to the market growth.
The report discusses the key market players in the bioabsorbable stent market, which include, Abbott Laboratories, Amaranth Medical Inc., REVA Medical, Inc., BIOTRONIK, Arterius Limited, Boston Scientific Corp., Elixir Medical Corporation, Johnson & Johnson, and others. These companies have adopted collaboration, mergers, and expansion as the most preferred strategies to increase their product portfolio and expand their respective market presence.
