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(IT-NEWSWIRE.COM, June 05, 2020 ) Bioresorbable stents are a relatively novel technology that is expected to cannibalize the markets for bare-metal and drug-eluting stents in the coming years. However, at present, there are various other substitutes available for treating blocked arteries as well as CAD and PAD. For example, coronary artery bypass graft (CABG) is a therapy where blockages in the coronary artery are bypassed, and the blood is directed to flow through a different artery from the leg or the arms. Another substitute—Xenograft—is used in procedures that require replacing damaged or blocked valves. Therapies such as laser ablation are also available, which use a catheter that has a metal or optic tube at the tip of the device to burn away plaque in the arteries.
The global bioabsorbable stents market is expected to reach USD 417.2 million by 2022 from USD 242.4 million in 2017, at a CAGR of 11.5% during the forecast period. Market growth of bioresorbable stents is attributed to the growing aging population susceptible to coronary and peripheral artery diseases, rising PCI procedures, increasing focus of companies on clinical trials of bioresorbable stents, increasing adoption of these stents by physicians and patients, and patients’ preference for minimally invasive therapies.
Strong product pipeline
Companies are increasingly focusing on developing stents that are efficient, can be fully absorbed into the body, and can naturally restore the movement of the artery while healing it. These stents are used for treating CAD and PAD.
This strong pipeline of highly advanced products is expected to play an important role in driving the growth of the bioresorbable stents market during the forecast period.
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Presence of substitutes
Bioresorbable stents are a relatively novel technology that is expected to cannibalize the markets for bare-metal and drug-eluting stents in the coming years. However, at present, there are various other substitutes available for treating blocked arteries as well as CAD and PAD. For example, coronary artery bypass graft (CABG) is a therapy where blockages in the coronary artery are bypassed, and the blood is directed to flow through a different artery from the leg or the arms. According to the Centers for Disease Control and Prevention (CDC), around 395,000 CABG procedures are performed annually in the U.S. alone.
Another substitute—Xenograft—is used in procedures that require replacing damaged or blocked valves. Therapies such as laser ablation are also available, which use a catheter that has a metal or optic tube at the tip of the device to burn away plaque in the arteries.
In addition to these substitutes, patients also have the option to choose from a wide range of stents commercially available in the market. Many of these traditional stents are comparatively lower priced than bioresorbable stents. These substitutes and lower-priced alternatives pose a major challenge to the bioresorbable stents market.
Region Covered in Report
Geographically, the bioabsorbable stents market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). In 2017, Europe is expected to dominate the market, followed by Asia. The dominance of European region is majorly attributed to increasing regulatory approvals for stents which will facilitate their commercialization and rising research activities for development of bioresorbable stents. The market in North America is expected to grow at the highest CAGR during the forecast period. Factors such as increasing prevalence of CAD and PAD, patient preference for minimally invasive therapies, unhealthy lifestyle habits, and huge patient pool are enabling this market to grow in this region.
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Key Players
Some prominent companies in the bioabsorbable stents market include Abbott (US), BIOTRONIK SE & Co. KG (Germany), REVA Medical, Inc. (US), Elixir Medical Corporation (US), and Kyoto Medical Planning Co., Ltd. (Japan).
MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com
Source: EmailWire.Com 
Source: EmailWire.com
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