The bioabsorbable stents market consists of sales of bioabsorbable stents and related services. Bioabsorbable stents, also known as Bioresorbable stents (BRS) or vascular scaffolds are coronary stents that can fully dissolve in the body. These biodegradable stents are used in percutaneous coronary intervention (PCI) procedures for providing structural support to the treated vessels and prevent acute recoil & restenosis. Bioabsorbable stents are commonly used in the treatment of heart diseases.
The global bioabsorbable stents market is expected to decline from $296.9 million in 2019 to $294.75 million in 2020 at a compound annual growth rate (CAGR) of -0.73%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The outbreak also restricted or postponed the non-emergency treatments for cardiovascular diseases impacting the market revenue. The market is then expected to recover and reach $408.92 million in 2023 at a CAGR of 11.53%.
