Bioabsorbable Stents Market Overview:
The Bioabsorbable Stents Market is expected to reach USD 417.2 million by 2022 from USD 242.4 million in 2017, at a CAGR of 11.5% during the forecast period. Market growth of bioresorbable stents is attributed to the growing aging population susceptible to coronary and peripheral artery diseases, rising PCI procedures, increasing focus of companies on clinical trials of bioresorbable stents, increasing adoption of these stents by physicians and patients, and patients’ preference for minimally invasive therapies.
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Strong product pipeline
Companies are increasingly focusing on developing stents that are efficient, can be fully absorbed into the body, and can naturally restore the movement of the artery while healing it. These stents are used for treating CAD and PAD.
This strong pipeline of highly advanced products is expected to play an important role in driving the growth of the bioresorbable stents market during the forecast period.
Major Market Developments:
In 2016, Abbott received Received approval from the Ministry of Health, Labor and Welfare (MHLW) in Japan for its Absorb bioresorbable heart stent.
In 2017, Reva Medical received CE approval for Fantom, a drug-eluting bioresorbable coronary scaffold
In 2015, Abbott received CE mark approval for Absorb GT1, which is the world’s first fully bioresorbable stent system. This approval helped the company to market this product in Europe, thus expanding its customer base.
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Market Segmentation:
By Material
Bioresorbable polymer based stents
Bioresorbable metallic stents
By Absorption Rate
Slow- absorption stents
Fast- absorption stents
By Applications
Coronary Artery Diseases
Peripheral Artery Diseases
By End User
Hospitals
Cardiac Centers
Key Players:
The bioabsorbable stent market comprises of a fewer number of players. Prominent players in the bioabsorbable stent market include Abbott (U.S.), Elixir Medical Corporation (U.S.), Kyoto Medical Co. LTD. (Japan), Reva Medical Inc. (U.S.), Arterial Remodeling Technologies (France), Tepha Inc. (U.S.), Meril Life Sciences Pvt. Ltd. (India) among others.
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