The bioresorbable scaffolds market is witnessing significant growth owing to advancements in medical technology and the increasing prevalence of cardiovascular diseases. Bioresorbable scaffolds are temporary implants used to treat coronary artery diseases, gradually dissolving over time while allowing the vessel to heal naturally. This market is segmented into material type, application, end-user, and region.
The market's material type segment includes polymer-based and metal-based scaffolds. Polymer-based scaffolds dominate the market due to their biocompatibility and gradual resorption properties. Cardiovascular diseases, orthopedic disorders, and others comprise the application segment, with cardiovascular diseases leading the demand due to a high incidence rate.
Hospitals, ambulatory surgical centers, and specialized clinics constitute the end-user segment. The rising number of hospital admissions for cardiac interventions drives the demand for bioresorbable scaffolds. Geographically, North America commands a significant market share due to well-established healthcare infrastructure and increasing cardiovascular disease cases. Europe follows with a strong focus on research and development, while the Asia-Pacific region is witnessing growth due to the rise in healthcare investments and the aging population.
Factors driving the market include the growing elderly population, demand for minimally invasive procedures, and technological advancements. However, challenges like high costs and the need for skilled professionals hinder market growth. With ongoing research to enhance scaffold properties and efficacy, the bioresorbable scaffolds market is anticipated to expand in the coming years.
US Bioresorbable Scaffolds Market is poised to grow at a sustainable CAGR for the next forecast year.
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Global Bioresorbable Scaffolds Market Segmental Analysis
The bioresorbable scaffolds market is segmented by type, material, application, end-user, and region. Based on type the market is segmented as, Drug Eluting Coronary Scaffolds, Sirolimus-Eluting Device, Everolimus-Eluting Device, Novolimus-Eluting Device, and Paclitaxel-Eluting Device. Based on material, the market is segmented as, Absorbable Magnesium Stent (AMS), Polymeric Scaffold, Polycarbonate Scaffold, and Others. Based on application the market is segmented as, Peripheral vascular intervention, Regulation of blood flow, Others. Based on end-user the market is segmented as, Hospitals, Clinics, Others. Based on Region the market is segmented as, North America, Europe, Asia Pacific, and Latin America.
Bioresorbable Scaffolds Market Analysis By Application
As of 2022, the coronary artery/vascular stent segment held a significant revenue share of over 96.0%. This dominance is attributed to the utilization of bioresorbable vascular scaffolds for the treatment of coronary and peripheral artery blockages associated with cardiovascular disorders such as coronary heart disease and ischemic heart disease. The prevalent cases of these cardiovascular conditions drive the demand for bioresorbable vascular scaffolds, leading to the substantial growth of this segment.
The European Heart Network's data highlights the severity of cardiovascular disease (CVD), causing approximately 1.8 million deaths in the European Union and 3.9 million deaths across Europe annually. CVD accounts for 37% of all deaths in the EU and 45% of all deaths in Europe. Conversely, the peripheral artery/vascular stents segment is expected to experience growth at a notable Compound Annual Growth Rate (CAGR). In August 2018, Reva Medical achieved CE mark clearance for its Motiv bioresorbable scaffold designed for treating below-the-knee peripheral artery disease. This achievement marked a significant milestone as Motiv became the first drug-eluting bioresorbable scaffold in this application.
Bioresorbable Scaffolds Market Analysis By End User
As of 2022, hospitals commanded a significant revenue share of over 98.0%. Hospitals play a vital role within the broader healthcare system, acting as a cornerstone for medical services and driving research and innovation. This prompts corporations to channel considerable efforts into revenue generation and marketing strategies aimed at promoting their products and services within hospital settings. The preference for hospitals stems from their ability to offer superior patient care, thus contributing to their substantial growth.
The aging population's increasing size underscores the necessity for frequent and accessible healthcare services. As individuals grow older, their immune systems weaken, rendering them more vulnerable to various illnesses and conditions. This heightened demand for medical care further accentuates the role of hospitals. Additionally, the well-established healthcare infrastructure in the region, characterized by adequate hospital beds, advanced equipment, and heightened government investments, is poised to accelerate the expansion of hospital services.
Among other healthcare facilities, coronary artery disease (CAD) and peripheral artery disease (PAD) centers, as well as ambulatory surgery centers, also contribute to the market landscape. Ambulatory surgery centers offer a convenient and cost-effective alternative to hospitals, delivering equivalent quality care to patients. The trend of increased outpatient admissions is driven by the adoption of advanced medical techniques that make treatments more affordable and efficient. The incorporation of innovative surgical procedures within such centers allows for procedures to be performed without the need for hospitalization, thus supporting the growth of this segment.
Drug Eluting Coronary ScaffoldsSirolimus-Eluting DeviceEverolimus-Eluting DeviceNovolimus-Eluting Device
|
Segment Name |
Size |
|
Drug Eluting Coronary Scaffolds |
1,000 |
|
Sirolimus-Eluting Device |
900 |
|
Everolimus-Eluting Device |
800 |
|
Novolimus-Eluting Device |
700 |
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Global Bioresorbable Scaffolds Market Regional Insights
The dominance of the global bioresorbable scaffolds market stands with North America, attributed to several factors such as a significant population affected with cardiovascular diseases, a multitude of prominent companies operating in the region, and an increasing elderly demographic. Moreover, the rise in obesity and diabetes cases, sedentary lifestyles, heightened stress levels, and desk-bound routines have collectively propelled market growth. Following the Americas, Europe holds the second-largest market share, trailed by the Asia Pacific region. Notably, Asia Pacific stands out as the rapidly growing market due to its swift technological advancements and a substantial patient pool grappling with various vascular disorders. On the other hand, the Middle East & Africa region accounts for the least share in the global bioresorbable scaffolds market.
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Global Bioresorbable Scaffolds Market Dynamics
Bioresorbable Scaffolds Market Drivers
Cardiovascular Diseases Prevalence:
- The escalating prevalence of cardiovascular diseases, such as coronary artery disease and peripheral artery disease, is a major driver for the bioresorbable scaffolds market. These conditions necessitate advanced treatments to restore blood flow, creating a demand for innovative solutions like bioresorbable scaffolds.
Minimally Invasive Procedures:
- The preference for minimally invasive procedures is driving the adoption of bioresorbable scaffolds. These scaffolds provide a viable alternative to traditional metallic stents, offering reduced invasiveness and faster recovery times for patients.
Bioresorbable Scaffolds Market Restraints
Limited Clinical Evidence:
- The bioresorbable scaffolds market faces a challenge in terms of limited long-term clinical evidence. The outcomes of bioresorbable scaffold implants compared to traditional stents need further evaluation to establish their efficacy and safety conclusively.
Complex Manufacturing Process:
- The intricate manufacturing process of bioresorbable scaffolds contributes to their higher costs. Moreover, any quality control issues in production can impact the reliability of these devices..
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Global Bioresorbable Scaffolds Market Competitive Landscape
The competitive landscape of the bioresorbable scaffolds market encompasses comprehensive insights into each competitor. These insights encompass various aspects, including an overview of the company, its financial standing, revenue generation, market potential, research and development investments, novel market strategies, global reach, production facilities, capacities, strengths, weaknesses, product launches, breadth of offerings, and dominant applications. Notably, the information provided pertains solely to the strategic direction of these companies in the context of the bioresorbable scaffolds market.
Bioresorbable Scaffolds Market Top Player’s Company Profile
- Abbott
- Medtronic
- Boston Scientific Corporation
- Biotronik
- Elixir Medical Corporation
- REVA Medical
- Amaranth Medical
- Kyoto Medical Planning
- Xenogenics Corporation
- Braun
- Cardinal Health
- Lombard Medical
- Translumina
- MicroPort Scientific Corporation
- TERUMO CORPORATION
Bioresorbable Scaffolds Market Recent Developments
- In April 2023, Arterius announced that it appointed Gerard Harper as Chief Financial Officer. Arterius is a leading U.K.-based company that is developing innovative medical devices including next-generation bioresorbable peripheral stents. Gerard would help Arterius to develop and drive the commercial strategy for the successful launch of a suite of innovative technologies in its current pipeline.
Global Bioresorbable Scaffolds Key Market Trends
Growing Geriatric Population:
- Increasing elderly population requires frequent healthcare services, driving the demand for bioresorbable scaffolds as older individuals are more susceptible to cardiovascular diseases.
Dominance of Coronary Artery/Vascular Stents:
- Coronary artery/vascular stents segment holds a significant revenue share due to its use in treating coronary heart disease and other cardiovascular disorders, contributing to industry growth..
