How Has the Bioabsorbable Stents Market Evolved Historically and What is its Current Size?
The bioabsorbable stents market has seen considerable growth due to a variety of factors.
• The market size of bioabsorbable stents has recently demonstrated significant growth. The market value is set to rise from $0.37 billion in 2024 to $0.41 billion in 2025, marking a compound annual growth rate (CAGR) of 9.9%.
The market expansion during the historical period can be linked to the increasing occurrence of cardiovascular diseases, burgeoning demand for minimally invasive operations, heightened knowledge of bioabsorbable stents, elevated disposable income, and industry investments.
What Is The Projected Growth Of The Bioabsorbable Stents Market Size?
The bioabsorbable stents market is expected to maintain its strong growth trajectory in upcoming years.
• The market for bioabsorbable stents is poised for robust expansion in the foreseeable future. It is projected to reach a valuation of $0.59 billion by 2029, growing at a compound annual growth rate (CAGR) of approximately 9.8%.
The expected growth during the forecast period can be credited to factors such as widened clinical applications, bespoke solutions and global spread, as well as being a more patient-friendly choice. Key trends that will shape the market during the forecast period include improvements in bioabsorbable materials, clinical progress, extensive clinical data and research, development of hybrid stent designs, extended absorption durations, along with collaborations and partnerships.
Which Key Drivers Are Propelling The Bioabsorbable Stents Market's Growth?
The escalating incidence of heart failure is predicted to fuel the expansion of the bioabsorbable stents market. Heart failure, marked by a decrease in the heart muscle's efficiency in pumping blood leading to excess fluid accumulation in the body, can be managed through the use of bioabsorbable stents to improve cardiac performance and alleviate symptoms. For example, as of February 2022, the Heart and Stroke Foundation of Canada, a leading authority on stroke, heart disease, surgeries, and treatments, states that the current count of individuals diagnosed with heart failure is 750,000 with an annual surge of 100,000 new cases of this untreatable condition. Forecasts suggest that by the year 2030, Canadian healthcare expenses associated with heart failure will likely reach $2.8 billion per year. As such, the rising prevalence of heart failure is set to drive the growth of the bioabsorbable stents market in the future.
What Are The Principal Market Segments In The Global Bioabsorbable Stents Industry?
The bioabsorbable stents market covered in this report is segmented –
1) By Product Type: Polymer-Based Bioabsorbable Stents, Metal-Based Bioabsorbable Stents
2) By Absorption Rate: Slow- Absorption Stents, Fast- Absorption Stents
3) By Applications: Coronary Artery Diseases, Peripheral Artery Diseases
Subsegments:
1) By Polymer-Based Bioabsorbable Stents: PLGA (Poly(Lactic-Co-Glycolic Acid)) Stents, PGA (Polyglycolic Acid) Stents, PLLA (Poly(L-Lactic Acid)) Stents, Other Biodegradable Polymer Stents
2) By Metal-Based Bioabsorbable Stents: Magnesium-Based Stents, Iron-Based Stents, Zinc-Based Stents, Other Metal-Based Bioabsorbable Stents
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Which Emerging Market Trends Are Altering The Bioabsorbable Stents Industry?
Many key players in the bioabsorbable stents industry are putting their resources into the research and development of cutting-edge technologies, like the newest generation of bioresorbable cardiac stents, to realize higher profits. This new generation of bioresorbable cardiac stents represents a high-tech medical innovation produced from biodegradable substances that disintegrate gradually after fulfilling their purpose of keeping the artery unblocked. For example, in July 2024, China's MicroPort Scientific Corporation obtained the green light from China's National Medical Products Administration (NMPA) to launch the very first next-generation fully bioresorbable cardiac stent in the world. Crafted by MicroPort Scientific Corporation, Firesorb is engineered to vanish completely within a three-year span, largely diminishing long-term risks like thrombosis. Clinical studies performed on 1,468 individuals reported encouraging outcomes including a minimal thrombosis probability of 0.32% and a four-year target lesion failure rate standing at a mere 4.3%. The stent's innovative slender strut construction and improved endothelial coverage compared to older stent models have won the acclaim of top medical professionals.
Who Are the Key Players In The Bioabsorbable Stents Market?
Major companies operating in the bioabsorbable stents market include:
• Abbott Laboratories
• REVA Medical Inc.
• Elixir Medical Corporation
• Biotronik SE & Co. KG
• Amaranth Medical Inc.
• Zorion Medical Inc.
• Tepha Inc.
• S3V Vascular Technologies
• ICON Interventional Systems Inc.
• Arterius Limited
• Microport Scientific Corporation
• Meril Life Sciences Pvt. Ltd.
• Medlogics Device Corporation
• B. Braun Melsungen AG
• Boston Scientific Corporation
• C.R. Bard Inc.
• Stentys SA
• Terumo Corporation
• OrbusNeich
• Arterial Remodeling Technologies
• Cardionovum GmbH
• Envision Scientific Pvt Ltd.
• Eurocor GmbH
• Hexacath
• Kyoto Medical Planning Co. Ltd.
• Lifetech Scientific (Shenzhen) Co. Ltd.
• Manli Cardiology Limited
• Medtronic Inc.
• QualiMed Innovative Medizinprodukte GmbH
• Sahajanand Medical Technologies Pvt. Ltd.
• Sinomed
• Surmodics Inc.
• Translumina Therapeutics
• Vascular Concepts Limited
• Xenogenics Corporation
What Are The Regional Insights Into The Bioabsorbable Stents Market?
North America was the largest region in the bioabsorbable stents market in 2023. Western Europe was the second-largest region in the bioabsorbable stents market report. The regions covered in the bioabsorbable stents market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
