Global Bioabsorbable Stents Industry: Key Statistics and Insights in 2024-2032
Summary:
- The global bioabsorbable stents market size reached USD 409.4 Million in 2023.
- The market is expected to reach USD 764.2 Million by 2032, exhibiting a growth rate (CAGR) of 7% during 2024-2032.
- North America leads the market, accounting for the largest bioabsorbable stents market share.
- Polymer-based bioabsorbable stents account for the majority of the market share in the biomaterial segment.
- Slow-absorption stents hold the largest share in the bioabsorbable stents industry.
- Coronary artery disease holds the biggest market share due to the high prevalence of this condition, necessitating advanced treatments like bioabsorbable stents.
- Hospitals represent the leading end user segment.
- The increasing prevalence of cardiovascular diseases driver of the bioabsorbable stents market.
- Advancements in stent technology and the rising awareness and preference for less invasive procedures are reshaping the bioabsorbable stents market.
Industry Trends and Drivers:
- Increasing prevalence of cardiovascular diseases:
With heart disease remaining a leading cause of death worldwide, there is a high need for advanced treatment options. Traditional metal stents, while effective, pose risks like long-term inflammation, thrombosis, and restenosis. Bioabsorbable stents offer a modern alternative by providing the necessary support to reopen blocked arteries but gradually dissolve over time, minimizing the risks associated with permanent implants. This feature is particularly appealing to both patients and healthcare providers who are seeking safer, less invasive treatment solutions. The increasing cases of heart disease, driven by factors like aging populations, sedentary lifestyles, and unhealthy diets, is catalyzing the demand for bioabsorbable stents.
- Advancements in stent technology:
Manufacturers are making notable investments in research and development (R&D) to create next-generation bioabsorbable stents that offer superior performance compared to earlier models. These advancements include improvements in the flexibility, durability, and drug-eluting capabilities of the stents, which are designed to provide better arterial support and reduce complications, such as restenosis and thrombosis. The newer bioabsorbable stents are made from biodegradable materials that dissolve naturally within the body after their job of maintaining blood flow is complete. This eliminates the need for a permanent implant and reduces the risks of long-term complications. Additionally, the introduction of faster-absorbing and more effective stents is making healthcare providers more confident in recommending them.
- Growing awareness and preference for minimally invasive (MI) procedures:
Patients and healthcare providers are becoming more educated about the benefits of minimally invasive (MI) procedures, which is leading to the adoption of bioabsorbable stents. Unlike traditional metal stents, bioabsorbable stents allow for quicker recovery times, reduced scarring, and a lower risk of long-term complications. These factors are particularly attractive to patients who are looking for safer, less intrusive treatment options. Additionally, healthcare systems are focusing on cost-effective treatments that reduce the need for repeat interventions, long hospital stays, or extensive follow-up care. Bioabsorbable stents, with their ability to gradually dissolve after the artery has healed, reduce the likelihood of further complications, making them a preferred choice for doctors and patients alike.
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Bioabsorbable Stents Market Report Segmentation:
Breakup By Biomaterial:
- Polymer-based Bioabsorbable Stents
- Metal-based Bioabsorbable Stents
Polymer-based bioabsorbable stents exhibit a clear dominance in the market accredited to their superior flexibility and biocompatibility, which minimize the risk of arterial irritation and promote better healing.
Breakup By Absorption Rate:
- Slow-Absorption Stents
- Fast-Absorption Stents
Slow-absorption stents represent the largest segment, as they provide prolonged support to the artery, reducing the likelihood of vessel recoil and late thrombosis.
Breakup By Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
North America dominates the market owing to the existence of an advanced healthcare infrastructure and the presence of leading device manufacturers in the region.
Top Bioabsorbable Stents Market Leaders:
The bioabsorbable stents market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies. Some of the key players in the market are:
- Abbott Laboratories
- Arterius Limited
- B. Braun SE
- Biotronik SE & Co. KG
- Boston Scientific Corporation
- Elixir Medical Corporation
- Kyoto Medical Planning Co. Ltd.
- Lepu Medical Technology (Beijing) Co. Ltd.
- Meril Life Sciences Pvt. Ltd.
- Reva Medical LLC
- Terumo Corporation
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