During the forecast period from 2022 to 2032, the bioabsorbable stents market in the United States is expected to continue to lead the world with the highest Compound Annual Growth Rate (CAGR) of 9%. Because of the rising incidence of cardiovascular illnesses and its sophisticated healthcare system, the US has emerged as the market leader for bioabsorbable stents worldwide. With significant players in the bioabsorbable stents market operating domestically and an increasing number of new bioabsorbable stents being approved, the US market is expected to reach a value of US$360.6 million by 2032.
Up until 2032, the market for bioabsorbable stents is projected to grow at a consistent Compound Annual Growth Rate (CAGR) of 9.6%. According to projections, the market share of bioabsorbable stents is expected to grow from its estimated $372 million in 2021 to about $1 billion by 2032.
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:- https://www.factmr.com/connectus/sample?flag=S&rep_id=7375
Bioabsorbable stents are a novel treatment that has the potential to completely change the way cardiovascular disorders are treated, and the field of heart health and medical interventions is changing dramatically. These incredible medical innovations are quickly becoming well-known and have the potential to influence interventional cardiology in the future.
What Does the Future Hold for the Global Bioabsorbable Stents Market?
The global bioabsorbable stents market has experienced rapid growth due to the increasing preference among physicians and healthcare professionals for bioabsorbable stents over traditional options.
Key Drivers for Market Growth
The market for bioabsorbable metal and polymer stents is primarily driven by the growing prevalence of coronary artery and peripheral artery diseases, affecting both older and younger populations. According to the Centers for Disease Control and Prevention (CDC), over 18.2 million people globally were affected by coronary heart disease in 2017, with approximately 20% of those individuals dying from the condition.
The market is also fueled by an increase in percutaneous coronary intervention (PCI) procedures and rising demand for minimally invasive treatments. Bioabsorbable stents are gaining popularity due to their advantages, such as promoting vascular remodeling and improving endothelial function over time.
Government initiatives supporting the research and development of bioabsorbable stents, along with technological advancements and new product launches, are further boosting the market. These factors are expected to continue driving the adoption and growth of bioabsorbable stents, making them a promising solution for heart patients worldwide.
Competitive Landscape of the Bioabsorbable Stents Market
The global bioabsorbable stents market is highly competitive, with key players such as BIOTRONIK, Abbott Laboratories, REVA Medical, Inc., Elixir Medical Corporation, and others leading the sector. While large firms dominate the market share and sales, mid-size and smaller companies are gaining ground by offering new, cost-effective products through technological advancements and innovations.
Collaborations and mergers are common strategies for expanding market reach. For example, Abbott Laboratories acquired St. Jude Medical in 2017, solidifying its leadership in the medical device market.
Key Segments
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By Material :
- Bioabsorbable polymer based stents
- Bioabsosbable metallic stents
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By Absorption Rate :
- Slow- absorption stents
- Fast- absorption stents
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By Application :
- Coronary Artery Diseases
- Peripheral Artery Diseases
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By End User :
- Hospitals
- Cardiac Centers
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By Region :
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa (MEA)
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