Despite the advent of conventional stents as a major breakthrough in the treatment of peripheral artery disease and coronary artery diseases, these devices permanently remain in the body. Issues with implantation of conventional stents include but are not limited to mechanical blockages, malposition, and late restenosis and so on. A key prediction for interventional cardiology coming out form cardiologists and respective associations is that bioabsorbable stents will eventually replace the conventional bare metal stents. Though dissolving stents have certain drawbacks against metallic stents, it is expected that these challenges will soon be resolved with rapid technological advances. This growth will be further substantiated with growth in clinical data reporting the benefits of bioresorable stents outweighing the current drawbacks.

The purpose of this research study titled ‘Bioabsorbable Stents Market - Growth, Future Prospects, and Competitive Analysis, 2021 – 2029’ is to provide investors, developers, company executives and industry participants with in-depth analysis to allow them to take strategic initiatives and decisions related to the prospects in the global bioabsorbable stents market. This report presents and analyzes the major trends prevalent in the global bioabsorbable stents market and the market size and forecast.

This report categorizes the global bioabsorbable stents market in terms of material, applications, end-users, and geographical distribution. Polymeric and metallic is the basic segmentation of the global bioabsorbable stents market in terms of materials. Based on application types, the global bioabsorbable stents market is categorized into coronary artery diseases and peripheral artery diseases. Additionally, hospitals and ambulatory surgical centers are the end-users considered for the purpose of this study. Market size and forecast for each mentioned segment for the period 2019-2029 is presented in the report along with respective CAGRs for the forecast duration 2021-2029.

The market size and forecast of each considered geographical market is presented for the period 2019-2029 along with CAGRs for the forecast period 2021-2029 in this study and are further cross-sectional presented in terms of material, application, end-user and constituent region/country level markets.

This report also includes qualitative assessment factors such as market dynamics (drivers, restraints and opportunities) to have a good understanding of the current and anticipated trends in the global bioabsorbable stents market. Competition assessment tools such as Porter’s five forces model, market attractiveness assessment and competitive landscape analysis by key players are also demonstrated in the study. Furthermore, this report concludes with profiling of key market players currently enjoying prominent position in the global bioabsorbable stents market. The key players profiled in this report are Abbott Laboratories, Arterial Remodeling Technologies, Arterius Limited, B. Braun Melsungen AG, Boston Scientific Corporation, C.R. Bard, Inc., Elixir Medical Corporation, Kyoto Medical Planning, Co., Ltd., Medtronic plc, Microport Scientific Corporation, REVA Medical, Inc., STENTYS SA and Terumo Corporation.

Coronary artery disease is one of the prime causes of death worldwide. Percutaneous transluminal coronary angioplasty is the major mechanical intervention used for treating coronary artery disease. Restenosis is a result of vascular expression of the response to injury. Recoiling of arteries during the healing process that is a primary factor responsible for restenosis post angioplasty. Stents offer mechanical scaffolding to the vessel thus eliminating restenosis and vessel recoil. However, continuing the pressure from the stent against the vessel may result in neointimal tissue proliferation due to the stent and thus initiate the recurrence of luminal narrowing due to restenosis. Coronary intervention with bioabsorbable stents has developed renewed interest due to the fact that the need for mechanical support to the healing artery is temporary and prolonged implantation results in disadvantages associated with permanent metallic prosthesis. Stents are beneficial in improving immediate treatment outcomes including the reducing acute vessel occlusion after percutaneous intervention by scaffolding. Scaffolds reduce restenosis by prevention of negative remodeling. The potential advantages of having bioabsorbable stents in the treated site include reduction in the incidence of late stent thrombosis, improving lesion imaging with MRI/CT, ease in performing repeat treatments at the same site, vasomotion restoration and so on. Therefore bioabsorbable stents in coronary artery diseases have a significant role in treating pediatric patients as they allow vessel growth and avoiding future surgical procedure for stent removal.

Between hospitals and ambulatory surgical centers, hospitals currently enjoy the dominant position in the bioabsorbable stents market, worldwide. Availability of wide range of procedure options, higher quality care and greater patient footfall are the key factors contributing to the dominance of this segment. Also, hospitals are a more viable option for patients that exhibit a wide range of health status. Conversely, it is expected that the trend on preferring procedures being performed in ambulatory surgical centers will pick pace during the forecast period. Factors such as reduced care time in the facility, lower infection rates, reduced procedure cost and offered convenience to patients will drive the growth of this segment. Procedures in ambulatory centers take about 20% to 25% lesser time as against hospitals, thus exhibiting the potential that such organizations can provide more procedures and thus generate more revenue. Reduced hospital stays also leads to saving significant amount of money to insurance providers and patients alike. Further improvements in the nature of minimally invasive surgical technologies will add to growing the prominence of ambulatory surgical centers in the market.

Geographically, the global bioabsorbable stents market is cumulative to North America, Europe, Asia Pacific, Middle East and Africa and Latin America. 

North America is the current leader in the global bioabsorbable stents market in terms of both procedure rate and revenue. Early introduction of breakthrough products in the U.S. market, greater awareness between both patients and physicians, evolved reimbursement scenario and healthcare system are the key factors supporting the dominance of North America market. Higher prevalence of coronary artery diseases and peripheral artery diseases also prominently contribute to higher demand for bioabsorbable stents in North America and Europe markets. Additionally, it is expected that Asia Pacific market will witness the fastest growth during the forecast period. Exponential growth in patient pool with chronic peripheral vascular and cardiac diseases, large population base, increasing patient preference for availing safer minimally invasive procedures and improving disposable incomes along with rapid evolution of healthcare infrastructure will play a key role in driving the growth of Asia Pacific bioabsorbable stents market. In addition, hike in the number of ambulatory surgical centers being established along with growing awareness about the associated benefits will also facilitate the growth of bioabsorbable stents market in Asia Pacific.

Polymeric bioabsorbable stents are currently experiencing higher demand in treating cardiovascular diseases. Polymers such as poly-L-lactic acid, polyglycolic acid and polycaprolactone are conventionally used in production of polymer-based stents. Among these, poly-L-lactic acid is most commonly used in medicine and it breaks down lactic acid into natural metabolites, thus enhancing the absorption characteristics of the implant. Use of bioabsorbable polymer coating is generating wide acceptance due to its potential in reducing the need for dual anti-platelet therapies and avoiding the risk of thrombosis. It is also expected that metallic bioabsorbable will witness growth in demand through the forecast period. Iron and magnesium are the prime metals used for making metallic bioabsorbable stents. Higher malleability of iron and magnesium alloys, better understanding of iron’s properties and mechanism in the body in terms of solubility and degradation process and improving awareness are the key factors supporting the rapid growth of metallic bioabsorbable stents segment. Magnesium-based bioabsorbable stents are most commonly used alloy stents because magnesium is an essential element for the human body. Magnesium allows rapid endothelialization and reduced thrombogenicity; in addition, magnesium alloy stents also have reduced degradation time as against iron alloy bioabsorbable stents.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Bioabsorbable Stents market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Bioabsorbable Stents market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Bioabsorbable Stents market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Bioabsorbable Stents market?
• Which is the largest regional market for Bioabsorbable Stents market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Bioabsorbable Stents market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Bioabsorbable Stents market worldwide?