Tag Archives: Biodegradable Stents Market

Biodegradable Stents Market: An insight on the important factors and trends influencing the market

The global biodegradable stents market, in terms of its competitive landscape, is expected to continue showing a consolidated nature over the coming years. The companies Biotronik, Boston Scientific, Inc., and Abbott Laboratories, led the global biodegradable stents market in 2015, through a wide array of diverse products and a generally high reliability quotient. The above three names held a whopping 61.5% of the global biodegradable stents market in 2015, thanks to their infallible research and development efforts. Their expansion strategies have also allowed them to retain their leadership in the global biodegradable stents market. Meanwhile, over the coming years, the market is expected to show a greater deal of investment in the more sophisticated products and technologies.

As stated in a research report recently published by Transparency Market Research, the global biodegradable stents market is expected to expand at a CAGR of 30.1% within a forecast period from 2016 to 2024. The market was valued at US$18 mn in 2015 and is expected to rise till US$1.7 bn by the end of 2024.

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CVD Count Rises, Spurs Demand of All Types of Stents

The CDC had stated that nearly 370,000 people have died of coronary heart disease in the U.S. alone, per year. “The global biodegradable stents market has been expanding at an extremely swift pace within this context of growing CVD patients, and not just in developed economies, but emerging ones as well. The demand for biodegradable stents – which was till now considered a relatively niche branch – is witnessing an even greater upsurge in demand. Biodegradable stents are being considered a highly rated option due to the fact that they are easier to implement and get completely absorbed into body fluids, which makes it highly convenient for patients as well,” states a TMR analyst.

The global biodegradable stents market is one of the markets related to the overall stenting procedures in the world that as a whole is witnessing an extremely high rate growth in demand. The demand and preference for stenting procedures is also expected to surpass conventional bypass surgeries due to their relative ease of use, further giving the global biodegradable stents market scope of growth. In comparison to bypass procedures, stenting procedures are faster, cheaper, and allow the patient to heal faster and lead a much healthier life during recovery.

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 German Demand for Stenting Procedures Puts Europe Ahead in Global Biodegradable Stents Market

In terms of geography, the global biodegradable stents market is distributed into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. The report states that Europe is expected to arise as the dominant region in the global biodegradable stents market over the coming years. Europe is expected to surge at a CAGR of 27.2% from 2016 to 2024 in the global biodegradable stents market, a growth rate primarily attributed to the high demand and government support shown for the market in Germany.

Unaffordability of Biodegradable Stents Dissuades Patients

Although the global biodegradable stents market is showing a high growth rate, it is currently being restrained by the high cost of the most product offerings. As a result, the rewards of using biodegradable stents are getting overlooked. The high pricing of these stents is expected to restrain the overall market’s growth in the coming years. Furthermore, the slow adoption rate of these stents in regions and countries where medical awareness is relatively low is also hampering the progress of the global biodegradable stents market.

The information presented in this review is based on a Transparency Market Research report, titled, “Biodegradable Stents Market (Stent Type – Coronary Artery Stent and Peripheral Artery Stents; Material – Polymer Based and Metal Based; End Users – Hospitals, Cardiac Catheterization Laboratories, and Ambulatory Surgery Centers) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024.”

 

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Biodegradable Stents Market: Overview, Trends, Region-wise Outlook up to 2024

Global Biodegradable Stents Market: Snapshot

The biodegradable stents are used for treating cardiovascular conditions pertaining to the coronary artery. These stents are also known as bioabsorbable or bioresorbable vascular scaffolds and are surgically placed in the coronary artery for eluting the drug that is administered for vascular restoration and the polymer coating. The biggest advantage of these stents is that they get entirely absorbed in the vessels over a period of time, reducing the risk of complications or infections. This advantage is the primary reason for the growth of the global biodegradable stents market. According to the research report, the global biodegradable stents market was valued at US$18 mn in 2015 and is expected to reach US$1.7 bn by 2024, as the market progresses at a CAGR of 30.1% between 2016 and 2024.

Read Full Report: http://www.transparencymarketresearch.com/biodegradable-stents-market.html

Advantages of Biodegradable Stents Keep the Sentiment in Global Market Positive

As compared to predecessors of biodegradable stents, the newer technology has significantly reduced the risk of thrombosis, in in-stent restenosis, dual anti-platelet therapy, and second surgery for removal of the stent. These factors have played a pivotal role in shaping the trajectory of the global market in a positive direction over the past few years. The efficiency of biodegradable stents has won the market numerous consumers in the recent past. Thus, several patients and cardiologists have shown a keen interest in the uptake of biodegradable stents in the treatment of coronary and peripheral artery diseases.

The two type of stents available in the global market are the coronary artery stents and peripheral artery stents. Of these, the coronary artery stents held a dominant share in the global market in 2015. The segment is expected to continue its dominance in the coming years due to the exponentially rising number of deaths due to cardiovascular diseases. The high prevalence of coronary artery diseases across the globe around the world, rising preference of cardiologists towards percutaneous coronary intervention procedures, and increasing uptake of use of stents are expected to make a significant contribution to the soaring revenue of this segment in the forecast period.

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Asia Pacific Paces Ahead due to Vast Unmet Medical Needs

In terms of geography, the global biodegradable market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. Europe held a lion’s share in the global biodegradable stents market in 2015. Asia Pacific closely followed as the developing nations of the region are showing keen interest in uptake of newer technologies. These regions are expected to show continued progress in the overall market due to high adoption rate of biodegradable stents due to quick approvals from regulatory bodies. Furthermore, high incidence of diabetes and hypertension across Asia Pacific are also expected to spike the demand for biodegradable stents as patients suffering from these conditions are highly susceptible to cardiovascular diseases. The report indicates that North America biodegradable stents market will also show considerable progress with recent approvals from the U.S. FDA.

The key players operating in the global biodegradable stents market are Abbott Laboratories, Boston Scientific, Inc., Kyoto Medical Planning, Biotronik, Elixir Medical Corporation, Sahajanand Medical Technologies, and Terumo Europe NV. The competitive landscape in the global biodegradable stents market is likely to remain consolidated all throughout 2016 and 2024 as major players will hold a dominant share.

 

Demand for Biodegradable Stents Market has increased as these stents significantly reduce the risks of adverse thrombotic events

Global Biodegradable Stents Market: Snapshot

The biodegradable stents are used for treating cardiovascular conditions pertaining to the coronary artery. These stents are also known as bioabsorbable or bioresorbable vascular scaffolds and are surgically placed in the coronary artery for eluting the drug that is administered for vascular restoration and the polymer coating. The biggest advantage of these stents is that they get entirely absorbed in the vessels over a period of time, reducing the risk of complications or infections. This advantage is the primary reason for the growth of the global biodegradable stents market. According to the research report, the global biodegradable stents market was valued at US$18 mn in 2015 and is expected to reach US$1.7 bn by 2024, as the market progresses at a CAGR of 30.1% between 2016 and 2024.

Read Full Report: http://www.transparencymarketresearch.com/biodegradable-stents-market.html

Advantages of Biodegradable Stents Keep the Sentiment in Global Market Positive

As compared to predecessors of biodegradable stents, the newer technology has significantly reduced the risk of thrombosis, in in-stent restenosis, dual anti-platelet therapy, and second surgery for removal of the stent. These factors have played a pivotal role in shaping the trajectory of the global market in a positive direction over the past few years. The efficiency of biodegradable stents has won the market numerous consumers in the recent past. Thus, several patients and cardiologists have shown a keen interest in the uptake of biodegradable stents in the treatment of coronary and peripheral artery diseases.

The two type of stents available in the global market are the coronary artery stents and peripheral artery stents. Of these, the coronary artery stents held a dominant share in the global market in 2015. The segment is expected to continue its dominance in the coming years due to the exponentially rising number of deaths due to cardiovascular diseases. The high prevalence of coronary artery diseases across the globe around the world, rising preference of cardiologists towards percutaneous coronary intervention procedures, and increasing uptake of use of stents are expected to make a significant contribution to the soaring revenue of this segment in the forecast period.

Download exclusive Sample of this report: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=12464

Asia Pacific Paces Ahead due to Vast Unmet Medical Needs

In terms of geography, the global biodegradable market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. Europe held a lion’s share in the global biodegradable stents market in 2015. Asia Pacific closely followed as the developing nations of the region are showing keen interest in uptake of newer technologies. These regions are expected to show continued progress in the overall market due to high adoption rate of biodegradable stents due to quick approvals from regulatory bodies. Furthermore, high incidence of diabetes and hypertension across Asia Pacific are also expected to spike the demand for biodegradable stents as patients suffering from these conditions are highly susceptible to cardiovascular diseases. The report indicates that North America biodegradable stents market will also show considerable progress with recent approvals from the U.S. FDA.

The key players operating in the global biodegradable stents market are Abbott Laboratories, Boston Scientific, Inc., Kyoto Medical Planning, Biotronik, Elixir Medical Corporation, Sahajanand Medical Technologies, and Terumo Europe NV. The competitive landscape in the global biodegradable stents market is likely to remain consolidated all throughout 2016 and 2024 as major players will hold a dominant share.

 

Biodegradable Stents Market grows with rising popularity of biodegradable stents for cardiovascular disease management

The competitive landscape in the global biodegradable stents market is quite consolidated as major players in the market hold a massive chunk. In 2015, Abbott Laboratories, Boston Scientific, Inc., and Biotronik led the pack with a 61.5% share in the global market. The unwavering focus of these companies on expanding their business in newer territories has enabled them to dominate the global market. In the coming years, the players are expected to invest in advanced and sophisticated products to offer better products to the overall healthcare industry.

According to the research report, the global biodegradable stents market is anticipated to be worth US$1.7 bn by 2024 as compared to US$18 mn in 2015. During the forecast years of 2016 and 2024, the global market is expected to expand at a CAGR of 30.1%.

Europe Emerges as Leading Regional Market Backed by German Demand

The two types of stents available in the global biodegradable stents market are coronary artery stents and peripheral artery stents. Of these, the coronary artery stents are expected to progress at a CAGR of 30.9% during the forecast period. The high incidence of coronary artery diseases is expected to drive this segment in the coming years.

Read Full Report: http://www.transparencymarketresearch.com/biodegradable-stents-market.html

In terms of regions the global market is divided into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. The report indicates that Europe will emerge as the dominant segment in the global market in the coming years. This regional market is expected to surge at a CAGR of 27.2% during the forecast period. Germany will lead the Europe biodegradable stents market in the coming few years.

Rise in Cardiovascular Diseases Spikes Demand for Biodegradable Stents

The Centers of Disease Control and Prevention (CDC) states that coronary artery diseases are responsible for 370,000 deaths across the U.S. every years. The global biodegradable stents market has been growing against the backdrop of high incidence of cardiovascular diseases, which are related to coronary artery diseases. The market is also being driven by the high prevalence of chronic conditions and rising geriatric population, which is prone to cardiovascular disorders. “The growing preference for stenting procedures for treating coronary artery diseases over bypass surgeries is also anticipated to boost the sales in the global market,” estimates the lead author of this research report. This trend is likely to be a key trend in the market as stenting reduces complications, assures better success rate, fastens recovery time, and costs less.

Bare metal stents (BMS) and drug eluting stents (DES) continue to remain in the artery long after it has eluted the drug. This can lead to thrombosis, in-stent restenosis, and other complications, which can require surgical removal of the stent. Thus, use of biodegradable stents are remarkable safer as they get completely absorbed in the artery soon after the drug is eluted. This factor has won the biodegradable stents incredible traction over the past few years.

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Unaffordability of Biodegradable Stents Dissuades Patients

Although the global biodegradable stents has a noteworthy CAGR, the market is likely to suffer due to the high cost of the products. Thus, the advantages of biodegradable stents are getting stymied due to their unaffordability. The premium pricing of these stents is expected to restrain the overall market’s growth in the coming years. Furthermore, the slow adoption rate of these stents in regions and countries where medical awareness is relatively low is also hampering the progress of the global market.

This review is based on Transparency Market Research’s report, titled “Biodegradable Stents Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024.”

Biodegradable Stents Market grows with growing prevalence of peripheral and coronary artery diseases

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.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.