Global Drug-Eluting Bioabsorbable Stents Market is Anticipate to Reach at a CAGR of 9.36% during the forecast period 2020-2027
A new research report published by Fior Markets with the title Drug-Eluting Bioabsorbable Stents Market by Product (Serolimus, Paclitaxel, Sirolimus, Everolimus, Zotarolimus and Others), Material Type (Polymer and Metallic), Applications, End-user, Region and Global Forecast 2020-2027.
The global drug-eluting bioabsorbable stents market is expected to grow from USD 393.31 million in 2019 to USD 579.87 million by 2027, at a CAGR of 9.36% during the forecast period 2020-2027. Europe dominates the market in terms of market share. The region has a high number of the aged population who suffer from cardiac diseases, which has increased the demand for drug-eluting bioabsorbable stents. Also, the availability of skilled professionals and advanced healthcare facilities has contributed significantly to the market. However, Asia-Pacific is expected to register the highest growth rate during the forecast period. The growing obese population has led to the emergence of cardiac diseases, which propelled the market growth in the region. Also, the supportive initiatives by the government have helped the market to expand further.
NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
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Key players of the drug-eluting bioabsorbable stents market are B.Braun Melsungen, Abbott Laboratories, Medtronic, Biosensors International, Boston Scientific Corporation, Alvimedica, Elixir Medical Corporation, Innovative Health Technologies, Terumo Corporation, MicroPort Scientific Corporation, Biotronik and others.
The product segment includes serolimus, paclitaxel, sirolimus, everolimus, zotarolimus and others. The sirolimus accounts for the majority of the market shares. Sirolimus has proven to be more effective than the other alternatives as it reduces the chances of repeated vessel revascularization and reduces major adverse cardiac events and target vessel failures. The material type segment includes polymer and metallic. Out of the two segments, polymer-based stents holds significant market shares. The polymer gets readily absorbed in the arteries, which eases up the process and thus prevents restenosis. The application segment includes coronary artery diseases and peripheral artery diseases. The coronary segment constitutes the majority of the market shares. The increasing patient population and the rising incidence of obesity have resulted in market growth. The end-user segment includes hospitals, ambulatory surgical centers and cardiac centers. Hospitals account for major market shares. Hospitals have the availability of proper infrastructure, which is why the higher number of patients visit hospitals for the treatment of cardiac diseases as compared to the other segments.
Drug-eluting bioabsorbable stents have been approved by the FDA and are found safe and efficient than the traditional metal stents. It minimizes the incidence of plaque build-up and increases the blood flow of the heart, which lowers the chances of a heart attack. The bioabsorbable polymer coating elutes the antiproliferative drugs, which helps to prevent restenosis after the process of stent implantation and inhibits intimal proliferation. The increase in the geriatric population around the world is suffering from many chronic diseases, which have led to the market growth of drug-eluting bioabsorbable stents. Also, the demand for drug-eluting bioabsorbable stents has increased from the last few years owing to the efficiency of the process in the treatment of coronary artery diseases.
About the report:
The global drug-eluting bioabsorbable stents market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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