Bioabsorbable Stent Trends and Forecast
The future of the global bioabsorbable stent market looks promising with opportunities in the hospital and cardiac center markets. The global bioabsorbable stent market is expected to reach an estimated $2.1 billion by 2030 with a CAGR of 8.5% from 2024 to 2030. The major drivers for this market are rising frequency of cardiac conditions, growing demand for minimally invasive procedure, and rising R&D and infrastructure development for healthcare.
• Lucintel forecasts that coronary will remain the larger segment over the forecast period.
• Within this market, hospital will remain the larger segment over the forecast period.
• North America will remain the largest region over the forecast period due to increasing occurrence of cardiovascular disease among population and the existence of sophisticated healthcare facilities in the region.
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Country Wise Outlook for the Bioabsorbable Stent Market
The bioabsorbable stent industry is witnessing rapid growth on account of advancements in the field of material science and the ever-growing demand for more innovative solutions related to cardiovascular diseases. These stents are absorbed by the body after completing their function and hold essential benefits over the traditional metal stents, which include the occurrence of little risk for late thrombosis along with fewer complications in patients. Recent work in multiple countries helps to reinforce the technologies being developed, changes in regulations, and expanding clinical use, which would place bioabsorbable stents in the therapeutic regimen for coronary artery disease.
• United States: Bioabsorbable stent market in the U.S. is rising considering recent FDA approvals and clinical studies that demonstrate the safety and efficacy of these devices. Major companies are investing huge amounts in research and development to design better stents and materials. In addition, growing awareness among doctors and patients about the benefits of these bioabsorbable stents is fueling their adoption. Furthermore, ongoing clinical research is conducted to evaluate the use of these stents in various coronary applications, which in turn is expanding the market for them.
• China: This is growing in China because of the increasingly rising cases of cardiovascular diseases and the developing health sector. Local companies are teaming with international to ensure that such bioabsorbable products could be produced at a low cost. Improving medical technology, which China's government is trying to do, is also an open window for new products being developed in the markets. With higher awareness and more adoption into hospitals, bioabsorbable stents have now become integral parts of the medical processes in China for the treatment of cardiovascular diseases.
• Germany: Germany leads the market of bioabsorbable stents in Europe with high investment in research and innovation. Clinical studies compare the long-term results of bioabsorbable stents with those of traditional stents. Regulatory bodies are positive and ensure that the new products align with the safety and efficacy requirements. Furthermore, collaborations between research institutions and manufacturers are helping to push for the development of next-generation stents, hence making Germany a stronger contender in this evolving market.
• India: Bioabsorbable stent is increasingly penetrating the markets of India with the spread of awareness about coronary artery diseases and the advancements in medical technology. Local companies are also taking pains to come up with more affordable bioabsorbable stents so that they could reach a large section of the patient population. Regulatory approvals have also become less cumbersome, and the number of new devices coming to the market has increased manifold. It is expected that the bioabsorbable stents would gain a greater proportion of the market share once these technologies catch hold of healthcare facilities and bring in better outcomes for patients with coronary artery diseases.
• Japan: Japan is closing the gap in the market for bioabsorbable stents. Material innovation and manufacturing technology are critical factors in this innovation. The encouraging clinical trial results with a lead over safety and efficacy profile had health-care providers embracing the product. The Japanese health care system welcomes this integration of a new technology, and the industry-academia nexus is encouraging further research. With the increase in age of the people, it creates a demand for better cardiovascular solutions, which in turn is fostering growth for bioabsorbable stents in the country.
Emerging Trends in the Bioabsorbable Stent Market
The bioabsorbable stent market undergoes a lot of emerging trends that are changing the face of its landscape. These trends generally are spurred by advancement in technology, changes in regulatory aspects, and continually evolving needs of patients, which lead to better clinical outcomes and market growth.
• Advancements in Material Science: Improved safety and performance of bioabsorbable stents have been achieved through the development of advanced biocompatible materials. New polymers and coatings are developed with the aim of enhancing the mechanical properties as well as the rate of degradation of such stents, so that clinical results are improved, and there is a higher acceptance by the patients.
• Increased Demand for Minimally Invasive Procedures: Bioabsorbable stents are also to be found along the same lines, echoing the minimally invasive treatment approach favored by many patients due to minimized recovery time and decreased complications; effective solutions to coronary artery disease without the long-term presence of foreign materials to enhance patient care.
• Increasing Emphasis on Clinical Research: In fact, long-term efficacy and safety of bioabsorbable stents can best be proven by the ongoing clinical trials. With more data reported in the literature, such confidence in healthcare providers is likely to build and push the device toward wider clinical use.
• Regulatory Support for Innovation: The global regulatory bodies have been showing a trend of growing support for the innovativeness with medical technologies, thereby speeding up the approval and adoption of bioabsorbable stents. This climate challenges manufacturers to make investments into research and development, ultimately trickling down to patient benefit as part of more effective treatments available.
• Expansion into Emerging Markets: With increasing awareness related to cardiovascular diseases in emerging markets, there is immense scope for bioabsorbable stents. The emerging markets will be targeted to establish market presence as the health care infrastructure develops and patient needs increase in these markets.
All these developments in the bioabsorbable stent market pave the way for innovation, better patient outcomes, and widespread acceptance across various healthcare structures. These factors will have a major impact on its course of growth in the future as the market moves forward.
Recent Developments in the Bioabsorbable Stent Market
The bioabsorbable stent market is seeing significant innovations that are making it increase its appeal towards cardiovascular treatment. Recent developments have been on material, clinical outcomes, and regulatory support and can thus form a potential growth opportunity in the sector.
• Material Innovations: Bioabsorbable stents have lately been innovated with new biodegradable polymer innovations and more engineering of them for enhanced mechanical properties. The new inventions are in line with an improved performance of the stent during deployment to ensure adequate vessel support for improved patient outcomes.
• Advanced Delivery Systems: New delivery technologies are also focused on making the entry of bioabsorbable stents as easy as possible. It is also important to avoid procedural complications and increase overall success rates with stent placements, so that procedures become safer and faster.
• Studies on Long-term Outcomes: The major research interest now focuses on long-term follow-up for patients who undergo implantation with bioabsorbable stents than with the traditionally used metal stents. With ongoing positive reports from such studies, this is enhancing the confidence of clinicians to bring them into clinical practice.
• Stronger Regulatory Frameworks: More defined entry routes for regulatory approval of bioabsorbable stents are leading manufacturers to channel more efforts into innovation. Bringing forward innovative stent technologies will happen much quicker with such support.
• Partnerships with Healthcare Providers: The need for training and education programs is gaining prominence as the bioabsorbable stents are increasingly felt. Their training and education must be provided so that clinicians are well-acquainted with advantages and techniques of these stents.
Such developments are driving this market for bioabsorbable stents that incorporate technologies that make the patient safer and more appealing to healthcare providers to incorporate into practice. These trends give bright outlooks for the future of bioabsorbable stents.
Strategic Growth Opportunities for Bioabsorbable Stent Market
The market for bioabsorbable stents offers many strategic growth opportunities through new technologies, an increase in cardiovascular disease prevalence, and shifting patient needs. These will continue to drive further opportunities to increase market access and enhance patient care.
• Cardiovascular Disease Treatment: Rising incidence of cardiovascular diseases worldwide points towards bioabsorbable stents. Its effectiveness in treatment of coronary artery disease positions well for capture of a significant share of this fast-growing market, garnering the fruits of increased patient demand.
• Entry into the Emerging Markets: The growth potential for bioabsorbable stents is rather huge in the emerging markets whose healthcare infrastructures are being upgraded. Manufacturers will target some of the largest patient bases in regions where the demand for complex cardiovascular treatment options is growing.
• Next-Generation Stent Development: Advances in R&D are setting up new generations of bioabsorbable stents with superior features. The best modes of innovations would be enhanced drug-eluting capabilities and better material properties, which would drive market growth and patient adoption.
• Integration with Digital Health Technologies: The integration of bioabsorbable stents with digital health technologies, such as remote monitoring and telehealth, may open new ways for managing the patient. This development would improve post-operative care and compliance of patients to treatment outcomes.
• Partnership with Healthcare Providers: As the producers of stents collaborate with healthcare providers, the latter would know them better and even adopt them more. Since there is collaboration of joint programs for training and education, all stakeholders would get their bioabsorbable stents optimally used in clinical settings.
These growth opportunities govern the market for bioabsorbable stents by expanding applications, easy access to advanced treatments, and optimization of patient care. This all has a profound effect on the future of cardiovascular treatment as these trends continue to develop.
Bioabsorbable Stent Market Driver and Challenges
Vast drivers and challenges drive the course of the bioabsorbable stent market. They significantly set the perspective of market participants in embracing changes within this space.
The factors responsible for driving the bioabsorbable stent market include:
1. Rising Prevalence of Cardiovascular Diseases: There is an alarming rate of people in the world affected by cardiovascular diseases. As a result, there is a heightened requirement for more novel treatments. Bioabsorbable stents are an exciting prospect that suits the needs of different patients seeking less invasive interventions for coronary artery diseases.
2. Technological Advancements: Continuous innovations in materials and manufacturing processes make bioabsorbable stents more effective. Increasingly positive results for patients have led to providers' adoption, which further expands the market.
3. Growing Demand for Minimally Invasive Procedures: Patients increasingly demand minimally invasive treatments that result in shorter recovery times and fewer complications. Bioabsorbable stents fit the bill and appeal to both patients and clinicians.
Challenges in the bioabsorbable stent market are:
1. High Pricing: Pricing is one reason for not adopting bioabsorbable stents, as they happen to be very costly, especially in price-sensitive markets. Manufacturers must come up with ways of reducing the costs without losing quality for better access.
2. Sparse Clinical Data: The fact that clinical trials are still ongoing limits the long term data on the efficacy and safety of these bioabsorbable stents above the traditional ones, limiting clinician confidence in these devices. Wider acceptance would result from sufficient data.
3. Competition from Traditional Stents: This will be because of established efficacy and familiarity among the healthcare providers, and this is the reason why traditional metal stents will dominate the market. But bioabsorbable stents face competition in this market.
The developments and the growth of the market of bioabsorbable stents would be determined by the drivers and the challenges it faces. Working on the drivers while facing the challenges posed by it will be very important for pushing this cutting-edge technology.
List of Bioabsorbable Stent Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. Through these strategies bioabsorbable stent companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the bioabsorbable stent companies profiled in this report include-
• B. Braun Melsungen
• Arterial Remodeling Technologies
• Biotronik
• Arterius
• Elixir Medical
• Reva Medical
• Terumo
• Microport Scientific
• Kyoto Medical Planning
• Boston Scientific
Bioabsorbable Stent by Segment
The study includes a forecast for the global bioabsorbable stent by biomaterial, application, end use, and region.
Bioabsorbable Stent Market by Biomaterial [Analysis by Value from 2018 to 2030]:
• Polymeric Stents
• Metallic Stents
Bioabsorbable Stent Market by Application [Analysis by Value from 2018 to 2030]:
• Coronary Artery Disease
• Peripheral Artery Disease
Bioabsorbable Stent Market by End Use [Analysis by Value from 2018 to 2030]:
• Hospitals
• Cardiac Centers
• Others
Bioabsorbable Stent Market by Region [Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
Bioabsorbable Stent Market Insights
• Lucintel forecasts that coronary will remain the larger segment over the forecast period.
• Within this market, hospital will remain the larger segment over the forecast period.
• North America will remain the largest region over the forecast period due to increasing occurrence of cardiovascular disease among population and the existence of sophisticated healthcare facilities in the region.
Features of the Global Bioabsorbable Stent Market
Market Size Estimates: Bioabsorbable stent market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Bioabsorbable stent market size by biomaterial, application, end use, and region in terms of value ($B).
Regional Analysis: Bioabsorbable stent market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different biomaterials, applications, end uses, and regions for the bioabsorbable stent market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the bioabsorbable stent market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
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FAQ
Q1. What is the bioabsorbable stent market size?
Answer: The global bioabsorbable stent market is expected to reach an estimated $2.1 billion by 2030.
Q2. What is the growth forecast for bioabsorbable stent market?
Answer: The global bioabsorbable stent market is expected to grow with a CAGR of 8.5% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the bioabsorbable stent market?
Answer: The major drivers for this market are rising frequency of cardiac conditions, growing demand for minimally invasive procedure, and rising R&D and infrastructure development for healthcare.
Q4. What are the major segments for bioabsorbable stent market?
Answer: The future of the bioabsorbable stent market looks promising with opportunities in the hospital and cardiac center markets.
Q5. Who are the key bioabsorbable stent market companies?
Answer: Some of the key bioabsorbable stent companies are as follows:
• B. Braun Melsungen
• Arterial Remodeling Technologies
• Biotronik
• Arterius
• Elixir Medical
• Reva Medical
• Terumo
• Microport Scientific
• Kyoto Medical Planning
• Boston Scientific
Q6. Which bioabsorbable stent market segment will be the largest in future?
Answer: Lucintel forecasts that coronary will remain the larger segment over the forecast period.
Q7. In bioabsorbable stent market, which region is expected to be the largest in next 5 years?
Answer: North America will remain the largest region over the forecast period due to increasing occurrence of cardiovascular disease among population and the existence of sophisticated healthcare facilities in the region.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the bioabsorbable stent market by biomaterial (polymeric stents and metallic stents), application (coronary artery disease and peripheral artery disease), end use (hospitals, cardiac centers, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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