Bioresorbable Stents Market to Grow at a CAGR of 2.6% During the Forecast Period 2020-2025

January 4, 2021
Blessy

Bioresorbable Stents Market size is valued at $ 31,779 thousand in 2019, and is estimated to reach $36,489 thousand by 2025, growing at CAGR of 2.6% during the forecast period of 2020-2025. The Bioresorbable Stents Market growth rate is attributed to the high prevalence of cardiovascular diseases, steep increase in the aging population, and the expanding base of the obese population coupled with busy lifestyle, unhealthy foods and less physical activity increase the chances of having cardiovascular disease and foster the market growth. The devices are generally made of metallic or plastic tubes used for the treatment of blockades of the arteries in the heart. Traditionally, stents are made of metal mesh and remain in the body permanently until they are removed through surgical intervention. But nowadays, bioresorbable stents, also known as biodegradable stents, are made of materials which get dissolved or absorbed in the body. A bioresorbable stent has no permanent implant. It gets gradually resorbed and benignly cleared from the body.

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By Geography – Segment Analysis

Europe is the major region dominating the bioresorbable stents market with revenue of $13,030 thousand in 2019 and is estimated to grow at a CAGR of 2.5% during the forecast period of 2020-2025 to generate revenue of $14.851 thousand in 2025. There is a rise in the usage owing to the region has a large number of people suffering from cardiovascular diseases and thereby posing a huge demand for technologically advanced treatment options for the same.

Drivers – Bioresorbable Stents Market

Increasing prevalence of coronary artery diseases and peripheral artery diseases

Bioresorbable Stents Industry Outlook: Bioresorbable Stents Market top 10 companies are Biotronik, Meril Life Sciences Pvt. Ltd., Arterius, Elixir Medical Corporation, Terumo Corporation, Abbott Laboratories, REVA Medical, Kyoto Medical Planning Co. Ltd, and others.

Key Takeaways

Europe dominated the Bioresorbable Stents Market with a share of 41% in the year 2019.

The factors such as increasing priority for improvement of health in developing countries, growing opportunities of percutaneous coronary intervention procedures are amongst the major factor projected to impel growth of Bioresorbable Stents Market.

Increased need for bioabsorbable stents globally is owing to patients with bioabsorbable stents experience much less discomfort owing to the less invasive procedure, significant increase in population with a cholesterol-rich diet coupled with increase in the population of smokers and are the key factors owing to the growth in the segment during forecast period 2020-2025.

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