Seattle, WA -- (SBWIRE) -- 10/04/2019 -- Biodegradable stents are medical devices made up of bio-absorbable material such as polymer or metal used to achieve normal flow of blood or other bloodily fluids in case of clogged or narrowed vessels. The report delivers concise and clear in-depth analysis of market size and market growth under the scope product type, material type, and end users. Furthermore, report tracks the recent product launches, and trends driving the biodegradable stents market. However, report also focuses on the factors which are hindering the global biodegradable stents market growth.
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Market Dynamics
Factors such as increasing product launches with biodegradable material or technologically advanced form such as completely degradable stents and increasing incidences of cardiac coronary artery disease are driving the biodegradable stents market growth. For instance, in 2016, Biotronik SE & Co. received CE approval for Magmaris, which is first clinically-proven magnesium scaffold based bioresorbable stents for the treatment of coronary artery disease. Moreover, the pipeline product are aiding to the biodegradable stents market growth over the forecast period. For instance, Scitech Produtos Medicos Ltda is conducting clinical trials for Inspiron stents and biomatrix flex stents for the coronary artery disease, which as on April 2018, was in phase 4 trial. However, the drawbacks associated with polymer such as expansion and recoiling of stents, are expected to restrain the biodegradable stents market growth.
Increasing risk of cardiovascular disease is driving the biodegradable stents market growth
High risk of developing cardiovascular disease is expected to fuel the biodegradable stents market growth over the forecast period. For instance, according to American Heart Association, cardiovascular disease is a leading cause of death worldwide, owning for more than 17.3 million deaths per year in 2013, comprising around 31% and number is expected to grow to more than 23.6 million by 2030.
Moreover, as per American Heart Association's Heart Disease and Stroke Statistics 2017, 39.7% of American adults suffer from high cholesterol, which is projecting them towards higher
risk of arterial blockage. Furthermore, sedentary lifestyle and increasing proportion of obesity and geriatric population is also expected to drive growth of the biodegradable stents market.
Biodegradable stents market regional outlook - Asia Pacific to be the fastest growing market
The regional biodegradable stents market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa by Coherent Market Insights. Europe holds dominant position in biodegradable stents market, owing to presence of large number of approved products in the region. On the other hand, the market in North America is expected to experience growth gradually once there approved products sail through successfully in the market. Moreover, there is increasing prevalence of cardiac blockage due to sedentary lifestyle in the region. For instance, according to Center for Disease Control and Prevention (CDC), the three major factor leading to heart disease are high blood pressure, high cholesterol, and smoking, which has prevalence of 47% of the American population attributing to the disease prone population. However, biodegradable stents market in Asia Pacific is expected to witness significant growth, owing increasing medical tourism and increasing adoption of biodegradable stents. Moreover, emerging economies such as India and China offers wide opportunity for the market players, which is fuelling growth of the regional biodegradable stents market.
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The key players dominating the global biodegradable stents market
Major players operating in biodegradable stents market include Boston Scientific Corporation, Abbott, Kyoto Medical Planning Co., Ltd., QualiMed, Elixir Medical Corporation, ENDOCOR GmbH, BIOTRONIK SE & Co. KG, Amaranth Medical, Inc., and Arterial Remodeling Technologies SA.
The global biodegradable stents market growth is also driven by the inorganic strategies of the market players. For instance, in 2015, Cardinal Health acquired Cordis, a subsidiary of Johnson & Johnson, for US$ 1.9 billion. The acquisition will roll on the Cordis's S.M.A.R.T., vascular stents system.
Detailed Segmentation:
Global Biodegradable Stents Market, By Product Type:
Coronary Stents
Peripheral Stents
Global Biodegradable Stents Market, By Material Type:
Polymer-based Stents
Metallic Stents
Global Biodegradable Stents Market, By End Users:
Hospitals
Specialty Clinics
Ambulatory Surgical Centers
Global Biodegradable Stents Market, By Region:
North America
Europe
Asia Pacific
Latin America
Middle East
Africa
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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.