Global Biodegradable Stents Market: Overview
Stents are extensively used for treating blocked arteries. These tiny and expandable mesh tubes help to keep the arteries open. Metallic stents are the most commonly used stents for the treatment of coronary and peripheral artery diseases. However, these stents have limitations such as the risk of stent thrombosis or a mismatch between the stent and the size of the vessel. While stent thrombosis requires prolonged anti-platelet therapy, the mismatch of a stent with the vessel size leads to a smaller lumen after stent implantation. Furthermore, metallic stents interfere with modern imaging technologies such as multi-slice computerized tomography (MSCT) and magnetic resonance imaging (MRI). As a result, the demand for biodegradable stents has increased as these stents significantly reduce the risks of adverse thrombotic events and completely degrade after a certain period.
On the basis of material, the global biodegradable stents market can be segmented into metallic alloy and polymeric biodegradable stents. Magnesium and iron are commonly used in the manufacture of metallic alloy biodegradable stents. The biocompatibility of the metallic alloy biodegradable stents depends on numerous factors. Biodegradable stents made of magnesium are gaining popularity as they have lower degradation time. Polymeric biodegradable stents are usually made of Poly D, L-lactide/glycolide copolymer (PDLA), Poly-L-Lactic acid (PLLA), polycaprolactone, and Polyglycolic Acid(PGA).
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Global Biodegradable Stents Market: Trends
The growing prevalence of peripheral and coronary artery diseases has boosted the demand for biodegradable stents. According to the World Health Organization (WHO), cardiovascular diseases such as peripheral arterial disease, coronary heart disease, deep vein thrombosis, and congenital heart disease are the primary cause of natural death across the globe. In 2012, an estimated 17.5 million people died from cardiovascular diseases, which translates to 31% of all global deaths. Of these deaths, about 7.4 million were due to coronary heart disease. The rising popularity of biodegradable stents for cardiovascular disease management has propelled the growth of the global biodegradable stents market. Biodegradable stents eliminate the need for dual anti-platelet therapies and treat coronary artery diseases effectively.
The slow adoption rate of stents is the major hindrance in the expansion of the global biodegradable stents market. Furthermore, there are drawbacks associated with the implantation of biodegradable stents. For example, the strength of polymeric biodegradable stents is lower compared to conventional metallic stents. Unfavorable reimbursement policies have also been detrimental to the growth of the market. The global biodegradable stents market has a significant opportunity to grow with extensive research and development activities being carried out by key market players.
Global Biodegradable Stents Market: Region-wise Outlook
The global biodegradable stents market has been segmented into four key regions: Europe, Asia Pacific, North America, and Rest of the World. The growing adoption of biodegradable stents for the treatment of coronary ailments has boosted the growth of the market across North America. The U.S. and Canada are driving the demand for biodegradable stents in North America. In Europe, the U.K., France, Italy, and Germany are contributing significantly to the growth of the market.
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During the forecast horizon, Asia Pacific is anticipated to emerge as a potential market for biodegradable stents due to the growing prevalence of various coronary and peripheral heart diseases in the region. India, China, and Japan are the prominent markets for biodegradable stents in this region.
Some of the key players in the global biodegradable stents market are Arterial Remodeling Technologies SA, American Medical Systems Inc., Boston Scientific Corporation, Cedars-Sinai Medical Center, Cordis Corporation, Bristol-Myers Squibb Company, Abbott Laboratories, Amaranth Medical Inc., Kyoto Medical Planning Co. Ltd., REVA Medical Inc., BIOTRONIK SE & Co. KG, Tepha Inc., Xenogenics Corporation, Eurocor GmbH, and Elixir Medical Corporation.
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