According to the latest report published by Acute Market Reports “Bioabsorbable Stents Market - Growth, Future Prospects and Competitive Analysis, 2021-2029,” the global bioabsorbable stents market was valued at US$ 298.3 Mn in 2020, and is expected to reach US$ 717.5 Mn by 2029, expanding at a CAGR of 10.1% from 2021 to 2029.
Browse the full report Bioabsorbable Stents Market - Growth, Future Prospects and Competitive Analysis, 2021–2029 report at https://www.acutemarketreports.com/report/bioabsorbable-stents-market
Market Insights
Bioabsorbable stents is touted as one of the biggest revolutionary moves in the field of percutaneous coronary intervention. Bioabsorbable stents are absorbed in the body after providing desired support to the blood vessel for a stipulated period of time and thus ensure natural restoration of endothelial functions and properties. Bioabsorbable stents appropriately reduce the risk of complications related to permanent metallic stenting. Bioabsorbable stents also avoid the need for undergoing second procedure for stent removal, thereby facilitating faster recovery. Major factors driving the growth of the global bioabsorbable stents market include factors such as growing prevalence of coronary and peripheral artery diseases, growing life expectancy and increasing burden of chronic diseases on the healthcare system. It is expected the bioabsorbable stents will take over the position of bare metal and drug eluting stents during the upcoming period. With technological innovation, this market will witness significant growth. Conversely, issues in terms of regulatory hurdles, safety and efficacy reporting and costs may hold back the growth of this market.
Based on material type, the global bioabsorbable stents are classified as polymeric bioabsorbable stents and metallic bioabsorbable stents. Materials such as poly-L-lactic acid, polyglycolic acid, polycaprolactone and poly copolymer are mainly used in manufacturing polymeric stents. At present, polymeric stents experience significant position in the global market due to their established advantages over conventional bare metal stents. Optimized polymer composition facilitate targeted drug deliver to higher precision and limit proliferation of smooth muscle cells on the albuminal side and encourage endothelialization. Morepver polymer stents also have higher drug loading capacity and greater MRI and CT compatibility (delivering improved diagnostic interpretations since there is no interaction from metallic elements).
Additionally, metallic bioabsorbable stents are gradually becoming more attractive segment since these devices have the potential to overcome the drawbacks witnessed in the use of biodegradable polymer stents. At present magnesium and iron stents are being studied in humans. Both magnesium and iron bioabsorbable stents is mainly justified due to its known metabolism in humans.
Several magnesium alloys are being studied for adoption in manufacturing bioabsorbable stents. Magnesium alloys have limited ductility as against iron alloys. Improvement in processing technologies may possibly improve ductility of magnesium alloys through methods such as hot melt extrusion. Several investigational studies have been conducted to scrutinize the use of magnesium alloys in bioabsorbable stents.
Iron is also observed to be a promising and among the most studied bioabsorbable stent. However, pure iron as against other metals shows ferromagnetic properties and thus may interfere with MRI/CT observation. This property is altered by alloying iron with manganese thus nullifying the ferromagnetic property along with increasing the stent’s mechanical properties.
Geographically, the global bioabsorbable stents market is cumulative to North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. At present, North America dominates the global bioabsorbable stents market due to growing awareness about the benefits availed from implanting these stents in the treatment of coronary artery diseases. Furthermore, technological advancements in the field and early adoption of innovative treatment solutions in the region also support the dominance of North America on the global front. Additionally, Asia Pacific is expected to witness rapid growth during the forecast period due to growing skills of surgeon, and escalating prevalence of coronary artery and peripheral artery diseases. China, Japan and India are the most prominent markets in Asia Pacific.
The global bioabsorbable stents market is highly competitive and the major market players are entering into strategic and research partnerships to retain or enhance their stronghold in the market. However, the recent move from Abbott Vascular announcing the end of commercial sales of its Absorb bioresorbable vascular scaffold in September 2021 may reflect as a slack in the market competition and overall growth.
