Global Bioabsorbable Stents Market Trends And Strategies
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%. Increasing cardiovascular diseases are expected to drive the growth of the bioabsorbable stents market. However, the risks associated with bioabsorbable stents restrain the growth of the market.
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.
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The global bioabsorbable stents market is further segmented based on type and geography.
By Product Type: Polymer-based Bioabsorbable Stents, Metal-based Bioabsorbable Stents
By Absorption Rate: Slow-absorption stents, Fast-absorption stents
By Applications: Coronary Artery Diseases, Peripheral Artery Diseases.
By Geography: The global bioabsorbable stents market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the European bioabsorbable stents market accounts for the largest share in the global bioabsorbable stents market.
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Trends In The Bioabsorbable Stents Market
The drug-eluting stent (DES) is gaining significant popularity in the bioabsorbable stents market. The drug-eluting stent (DES) device is designed to avoid the regeneration of tissue that would otherwise obstruct the artery; this was a new step forward in the treatment of peripheral artery disease.
Bioabsorbable Stents Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides bioabsorbable stents market overviews, analyzes and forecasts bioabsorbable stents market size and growth for the global bioabsorbable stents market, bioabsorbable stents market share, bioabsorbable stents market players, bioabsorbable stents market size, bioabsorbable stents market segments and geographies, bioabsorbable stents market trends, bioabsorbable stents market drivers and bioabsorbable stents market restraints, bioabsorbable stents market’s leading competitors’ revenues, profiles and market shares. The bioabsorbable stents market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.