Global bioabsorbable stents market is expected to have a CAGR of 44.7% during the forecast period 2016-2023. Bioabsorbable stents are commonly used in the treatment of blocked arteries. They are tiny and expandable mesh tubes that hold arteries open and treat peripheral and coronary artery diseases. Bioabsorbable stents are defined as fully biodegradable stents that are completely absorbed by the human body. The percutaneous coronary intervention, majorly known as angioplasty, is the most effective treatment for peripheral and coronary artery diseases. In this type of procedure, bioabsorbable stents are placed in arteries to keep it open. There is rise in number of angioplasty procedures due to increasing incidence of cardiovascular diseases which expands the global bio absorbable stents market. Some of the key drivers of bioabsorbable stents market are increasing growth of generic population, increasing risk of coronary and peripheral artery diseases for the generic population. Slow adoption rate of bioabsorbable stents in heart related diseases is the key problem faced by the global bioabsorbable stents, which restraints the growth of the global bioabsorbable stents market. Few more restricting factors of the market are stringent government regulation and cost extensive devices which hinder the growth of the global bioabsorbable stents market. Some of the major opportunities for the market are the rising demand from emerging economies, rising healthcare expenditure in the emerging countries and high risk patients. Challenges faced by the global bioabsorbable stents market are availability of substitute, increasing R&D activities for cell transplantation to treat heart diseases and complications with bioabsorbable stents.
Source: OBRC Analysis
The global bioabsorbable stents market is majorly segmented on the basis of absorption rate, drugs, applications, end users, materials. On the basis of absorption rate, market is sub-segmented into:
- Slow absorption stents
- High absorption stents
On the basis of drugs, market is sub segmented into:
- Paclitaxel based drugs
- Limos based drugs
On the basis of application, the market is sub segmented into:
- Coronary artery disease
- Peripheral artery disease
On the basis of end users, market is sub segmented into:
- Hospitals
- Cardiac centers Hospitals
- On the basis of materials, market is sub segmented into:
- Polymeric stents
- Metallic stents
The revenue for the above application and end-user segments are specific to the global bio absorbable stents market. However, the total revenue of these applications and end-users in general has been excluded from the scope of the report. Also the market revenue has been calculated by summing up application, end-user, absorption rate, drugs and material segments.
Geographically, the global bioabsorbable stents market is segmented into:
- North America
- Europe
- Asia Pacific
- Rest of the World
North America has the maximum market share of global bioabsorbable stents market due to rise in awareness about the bioabsorbable stents in the treatment of coronary ailments, rising prevalence of obesity, heart attacks and other cardiac diseases. Dominance of major players in this region is also fueling to the growth of the global bioabsorbable stents market. United States represents the largest market for bioabsorbable stents in North American region, followed by Canada. In European region, Italy, Germany and U.K have the largest market share for the global bio absorbable stents market. Rising awareness regarding obesity related health issues and increasing health care expenditures are enhancing the global bioabsorbable stents market. During the forecast period, Asia Pacific region is expected to have fastest growth rate due to increase in public awareness related to various peripheral and coronary artery diseases in the region. The contributors India, China and Japan are expected to be the fastest growing bioabsorbable stents markets in Asia Pacific. Rest of the world is also growing but not at a faster rate. Slow adoption of bioabsorbable stents and lack of knowledge regarding artery diseases are some factors restraining growth in this region.
On the basis of absorption rate, market is divided into slow and high absorption stents. Slow absorption rate stents has registered maximum market share in 2015 owing to the longer effect of medicines and drugs which are being released within the artery. On the basis of application the coronary artery diseases has been increasing rapidly due to growing prevalence of lifestyle oriented diseases such as obesity, heart attacks, strokes, etc., rising geriatric population base is also pushing coronary artery diseases upward. Due to rising coronary artery diseases application, bio absorbable stents witness huge demand. In end user segment hospitals are the major end users of bioabsorbable stents. Rising healthcare standards and infrastructures in hospitals and rising heart diseases patient’s walk-ins in the hospitals are the major factors enhancing the end user segment of global bioabsorbable stents market. The polymeric bioabsorbable stents are majorly used in cardiovascular devices. The use of bioabsorbable polymer in coating reduces thrombotic events and decreases the need for extending dual anti-platelet therapy. Magnesium and iron are the most commonly used metals to make metallic bioabsorbable stents. The factors determining the biocompatibility of these alloys are their solubility and degradation properties. Magnesium bioabsorbable stents are widely used metallic alloy stents in arteries related diseases, as magnesium is one of the essential elements of human body.
The major market players of the global bio absorbable stents market are:
- ABBOTT LABORATORIES
- AMARANTH MEDICAL INC.
- ARTERIAL REMODELING TECHNOLOGIES
- ARTERIUS LIMITED
- OTHERS
Detailed analysis of these companies provided in this report comprises of overview, SCOT analysis, product portfolio, strategic initiative and strategic analysis.
These companies use various strategies such as merger & acquisition, collaboration, partnership and product launching. Example: on 28th April 2016, Abbott Laboratories announced the acquisition of St. Jude Medical Inc. This acquisition was a way to bulk up Abbott’s medical-devices business to compete against its rivals Medtronic PLC and Boston Scientific Corp. Abbott also aimed to gain a better negotiating position with its hospital customers, which became larger and more powerful in recent years.
Why to buy the report:
This report will:
- Provide you the business strategies adopted by market player such as acquisition that is on 28th April 2016, Abbott Laboratories announced the acquisition of St. Jude Medical Inc.
- Provide in detail the different segments such as application and end-users which affect the global bio absorbable stents market.
- Provide you the patent analysis of global bio absorbable stents market.
- Identify and understand the strengths, opportunities, challenges and threats of bio absorbable stents market
- Provide revenues of major players of the market such as Abbott Laboratories, Johnson & Johnson.
- Provide you various regulatory policies which affect global bio absorbable stents market.
How we are different from others:
At Occams we provide an extensive portfolio which is comprehensive market analysis along with the market size, market share, and market segmentations. Our report on global bio absorbable stents market offers the longest chain of market segmentation covering major market segmentation based on absorption rate, drugs, application ,end users and material. The report tracks the major market trends in the global bio absorbable stents market such as technological advancements and innovative products in the medical field. For each market segments covered in global bio absorbable stents market report, we provide opportunity matrix, and DRO analysis, that enable the clear growth assessment across each market segment. The report discusses competitive landscape of the bio absorbable stents industry, with giving extensive strategy analysis of more than 15 companies. Moreover, the report discusses various models such as 360 degree analysis, See Saw analysis, and Porter five force model and so on. For the high level analysis in the report we provide a comparative analysis of historic and current year data.
Key findings of the global bio absorbable stents market:
- North America held the largest revenue share in 2016.
- Acquisition is the key strategy adopted by the various market players of global bio absorbable stents market.
