What is the best Biodegradable Stents Market now a days?
The latest market report published by Credence Research, Inc. “Global Biodegradable Stents Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2017 – 2025,” the Biodegradable Stents market was valued at USD 591.0 Mn in 2016, and is expected to reach USD 6,310.5 Mn by 2025, expanding at a CAGR of 29.5% from 2017 to 2025.
Coronary artery disease (CAD) is one of the prominent causes of death in the world. Globally so many research studies were carried out on pathogenesis of atherosclerosis and the development of ischemic heart disease still there are several questions that are unanswered. According to market experts, about 70% of the risk factors associated with the CAD cases are addressed by the classic factors while the other 30% of the CAD events do not clarify any relationship with the existing classical factors. According to World Health Organization (WHO) reports, cardiovascular diseases are the number one cause of death globally more people die annually from cardio vascular diseases than from any other cause, by 2030 more than 23.0 million people are anticipated to die annually from cardiovascular diseases. It was also observed that rising prevalence of cardiovascular disease, low cost of treatment, and exact stent placement play key role in attracting the patients towards biodegradable stents.
Bio-degradable polymer based stents (BDS) have several advantages over permanent metallic stents, with optimized polymer composition it facilitates more targeted drug delivery, limiting smooth muscle cell proliferation on the abluminal side, and simultaneously encouraging endothelialization on the luminal side. It was also observed that stents made of complete polymer may have a higher drug loading capacity. However, high risks of impediments associated with biodegradable stents, and high selling price also affects the market growth. In addition, limitations of biodegradable stents are long-term endothelial dysfunction, delayed re-endothelialization, thrombogenicity, chronic inflammatory local reactions, permanent physical irritation, disparities in mechanical behavior between stented/non-stented vessel areas, inability to adapt to growth in young patients, and non-permissive characteristics for later surgical revascularization.
In terms of geography, the global biodegradable market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. Europe accounted for the largest share in the global biodegradable stents market in year 2016 due to key market drivers such as increased healthcare expenditure, growing of aged population and increase in cardiac patients and fast adoption rate from in hospitals. Asia-Pacific was anticipated to be the fastest growing market during the forecast period 2017 – 2025 due to rising prevalence of coronary and peripheral artery diseases, increasing early diagnosis of cardiac diseases, and high awareness associated with modern technology and accessibility. In addition, high incidence of diabetes and hypertension across Asia-Pacific are also expected to rise the demand for biodegradable stents in the near future.
Market Competition Assessment:
The biodegradable stents market is observed as the most diversified and competitive market comprising large number of players. The market is dominated by several players, depending on their major competencies. The key players in this market are Abbott Laboratories, Arterius Ltd., Boston Scientific, Inc., Biotronik, Kyoto Medical Corporation, Elixir Medical Corporation, Biosensors International, Terumo Europe NV, Ella CS, Arterial Remodeling Technologies SA, SMT (Part of Sahajanand Group of Companies), and Others.
Key Market Movements:
– Increasing sedentary lifestyle is fueling the obese population
– Rising demand for minimally invasive biodegradable Stents
– Rising incidences of coronary and peripheral artery diseases
– Increasing applications of the biodegradable stents beyond coronary and peripheral artery treatment