Chemicals

Bioabsorbable Stents Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends|Abbott Laboratories, REVA Medical Inc., Elixir Medical Corporation, Biotronik SE & Co. KG, Amaranth Medical Inc

The bioabsorbable stents market size is expected to see strong growth in the next few years. It will grow to $0.55 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The growth in the forecast period can be attributed to expanded clinical indications, customization and personalization, global expansion, patient-friendly option. Major trends in the forecast period include advancements in bioabsorbable materials, clinical advancements, clinical data and research, hybrid stent designs, longer absorption periods, collaborations and partnerships.

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Segmentation & Regional Insights
The bioabsorbable stents market covered in this report is segmented –

1) By Product Type: Polymer-based Bioabsorbable Stents, Metal-based Bioabsorbable Stents
2) By Absorption Rate: Slow- absorption stents, Fast- absorption Stents
3) By Applications: Coronary Artery Diseases, Peripheral Artery Diseases

North America was the largest region in the bioabsorbable stents market in 2023. Western Europe was the second-largest region in the bioabsorbable stents market report. The regions covered in the bioabsorbable stents market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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Major Driver Impacting Market Growth
Increasing cardiovascular diseases is a key factor driving the growth of the bioabsorbable stents market. Cardiovascular disorders are the leading cause of death across the world and 4 out of 5 cardiovascular deaths are caused by strokes and heart attacks. Moreover, one-third of such deaths occur prematurely in people under the age of 70. Bioresorbable stents are built primarily to reduce these risks of late complications, such as scaffold thrombosis or restenosis, that can happen when a conventional metal stent’s rigid metal backbone remains permanently rooted in the diseased vessel. According to the American Heart Association, it is estimated that more than 23.6 million die due to cardiovascular diseases by 2030. Therefore, increasing cardiovascular diseases are expected to drive the bioabsorbable stents industry.

Key Industry Players
Major companies operating in the bioabsorbable stents market include Abbott Laboratories, REVA Medical Inc., Elixir Medical Corporation, Biotronik SE & Co. KG, Amaranth Medical Inc., Zorion Medical Inc., Tepha Inc., S3V Vascular Technologies, ICON Interventional Systems Inc., Arterius Limited, Microport Scientific Corporation, Meril Life Sciences Pvt. Ltd., Medlogics Device Corporation, B. Braun Melsungen AG, Boston Scientific Corporation, C.R. Bard Inc., Stentys SA, Terumo Corporation, OrbusNeich, Arterial Remodeling Technologies, Cardionovum GmbH, Envision Scientific Pvt Ltd., Eurocor GmbH, Hexacath, Kyoto Medical Planning Co. Ltd., Lifetech Scientific (Shenzhen) Co. Ltd., Manli Cardiology Limited, Medtronic Inc., QualiMed Innovative Medizinprodukte GmbH, Sahajanand Medical Technologies Pvt. Ltd., Sinomed, Surmodics Inc., Translumina Therapeutics, Vascular Concepts Limited, Xenogenics Corporation

The bioabsorbable stents market report table of contents includes: