Bioresorbable Coronary Stents Market to Grow with a CAGR of 10.30% through 2028
Rising prevalence of coronary artery
disease and growing patient preference for minimally invasive procedures are
factors driving the Global Bioresorbable Coronary Stents Market in the forecast
period 2024-2028.
According to TechSci Research report, “Bioresorbable
Coronary Stents Market – Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Global Bioresorbable Coronary
Stents Market stood at USD 450.07 million in 2022 and is anticipated to grow
with a CAGR of 10.30% in the forecast period, 2024-2028. The global healthcare
landscape has witnessed remarkable advancements in medical technology,
particularly in the field of cardiology. One such innovation that has garnered
significant attention is the development of bioresorbable coronary stents.
These groundbreaking medical devices have the potential to revolutionize the
treatment of coronary artery disease (CAD) by offering a promising alternative
to traditional metal stents.
Coronary artery disease is a leading cause of
morbidity and mortality worldwide. The increasing prevalence of CAD, often
linked to factors such as sedentary lifestyles, unhealthy diets, and aging
populations, has created a substantial demand for effective treatment options.
Bioresorbable coronary stents offer a promising solution, as they dissolve over
time, reducing the risk of long-term complications associated with traditional
metal stents.
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Advancements in materials science and medical
technology have played a pivotal role in the development of bioresorbable
coronary stents. The continuous improvement in stent design, manufacturing
techniques, and the development of innovative biomaterials have led to stents
with enhanced structural integrity, radial strength, and resorption profiles.
These technological advancements have boosted the market's growth by increasing
the safety and efficacy of bioresorbable stents.
Regulatory agencies such as the U.S.
Food and Drug Administration (FDA) and the European Medicines Agency (EMA) have
been supportive of innovation in the field of bioresorbable coronary stents.
They have provided clear pathways for the approval and commercialization of
these devices, making it easier for manufacturers to bring their products to
market. This regulatory support has incentivized investment in research and
development within the industry. Patients are increasingly seeking minimally
invasive treatment options for coronary artery disease. Traditional metal
stents, while effective, can lead to long-term complications, including
restenosis and thrombosis. Bioresorbable stents offer a more patient-friendly
alternative, as they are designed to dissolve over time, reducing the need for
ongoing medical intervention and improving overall quality of life.
The global increase in healthcare
expenditure, driven by factors such as population growth, aging demographics,
and improved access to healthcare services, has provided a substantial
financial boost to the medical device industry. This surge in funding has
encouraged research and development efforts in the bioresorbable coronary
stents market, facilitating the introduction of innovative products and
expanding market reach.
The Global Bioresorbable Coronary Stents Market is
segmented into Brand,
End User and company. Based
on End User , the Hospitals & Clinics segment has
emerged as the predominant market leader.
Hospitals
and clinics have the infrastructure and resources necessary for the storage,
handling, and implantation of bioresorbable coronary stents. They can maintain
a sterile environment and provide the required post-operative care. Patients often have a higher level of trust in
hospitals and clinics compared to other healthcare facilities. They are more
likely to follow their healthcare provider's recommendations regarding stent
implantation when the procedure is performed in a hospital or clinic setting.
Based on region, North America segment is expected to
grow during the forecast period. North America, with its large
population and a high prevalence of cardiovascular diseases, represents a
significant market for coronary stents. The region's demographic trends,
including an aging population, contribute to the continued demand for cardiovascular
interventions. Many North
American citizens have health insurance coverage, which can facilitate access
to advanced medical treatments, including bioresorbable coronary stents. This
financial support encourages patients to opt for the latest and most effective
treatment options.
The Asia Pacific region is experiencing rapid market
growth. Clinical research and academic institutions in Asia Pacific have been
active in conducting clinical trials to generate evidence supporting the safety
and efficacy of bioresorbable coronary stents. This evidence helps in gaining
acceptance among healthcare providers and insurers.
Major companies operating in
Global Bioresorbable Coronary Stents Market are:
- Boston Scientific Corporation
- Medtronic plc
- Abbott Laboratories ltd.
- STENTYS S.A.
- Cordis corporation
- Biotronik inc.
- Lepu Medical Technology (Beijing) Co.,
Ltd.
- Cook India Medical Devices Pvt. Ltd
- XTENT Inc.
- Kyoto Medical Planning Co., Ltd
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“The Bioresorbable Coronary Stents Market is poised
for significant growth, driven by a confluence of factors that include the
rising prevalence of CAD, technological advancements, a favorable regulatory
environment, patient preferences, increased healthcare spending, and
collaborative efforts within the industry. As these drivers continue to propel
innovation and market expansion, bioresorbable coronary stents are likely to
become a standard of care in the treatment of coronary artery disease, offering
improved patient outcomes and a brighter future for cardiology patients
worldwide.,” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Bioresorbable Coronary Stents Market By
Brand (Magmaris, Magnitude, MeRes-100, DESolve, Others),
By End User (Hospitals & Clinics, Ambulatory Care Centers, Others), By Region, By Competition Forecast &
Opportunities, 2018-2028F”, has evaluated the future growth potential of Global
Bioresorbable Coronary Stents Market and provides statistics & information
on market size, structure and future market growth. The report intends to
provide cutting-edge market intelligence and help decision makers take sound
investment decisions. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges, and opportunities in
Global Bioresorbable Coronary Stents Market.
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