Bioabsorbable Stents Market to receive overwhelming hike USD 248.5 million in Revenues by 2032: Exclusive Report by FMI

The market for bioabsorbable stents was valued at US$ 159.6 million in 2021 and is anticipated to reach US$ 165.4 million by the end of 2022. The market’s sales are anticipated to grow at a CAGR of 4.2% and hit US$ 248.5 Mn in 2032. According to a recent study, the global market for bioabsorbable stents market demand would be dominated by coronary artery stents in 2021, with a market share of over 76.3%.

The growth of the global bioabsorbable stents market is influenced by factors such as rise in cardiovascular surgeries on a global scale, lower treatment cost, and exact stent placement. These factors are reinforced with technological developments, which are again intensifying thereby fueling the growth of the global bioabsorbable stent market.

However, there are certain limiting factors which offer challenge to the growth of the global market, such as possibilities of complications during insertion or post surgery and less awareness about bioabsorbable stents.

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Bioabsorbable stents function like normal medical stents. The main difference between regular stents and bioabsorbable stents is the material which is used in their manufacturing; bioabsorbable stents use material which is easily absorbed in the body.

Europe region is the most lucrative region and dominates the global market. This region is poised to grow at a significant CAGR during the forecast period. North America region is anticipated to show the highest growth rate to register a CAGR of 10.2% throughout the period of forecast of 2017-2022

Hospitals segment by end user shows higher market share of 62.1% and also grows at a higher growth rate during the forecast period. Following this segment, cardiac catheterization labs segment has secured second place with respect to market share and growth rate throughout the forecast period of 2017 to 2022.

Coronary artery disease segment by disease indication is anticipated to grow at a significantly higher growth rate to register a CAGR of 10% and also poised to hold higher market share thereby dominating the global market. This segment is also expected to gain higher BPs by the end of 2022.

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Slow absorption rate segment by absorption rate is poised to register a CAGR of 10.3% throughout the period of forecast of 2017 to 2022 and also portrays dominance by reflecting a higher market share during the forecast period.

The report has also profiled key leading players in the global bioabsorbable stents market, which would remain active through 2022. These include players like Lepu Medical Technology (Beijing) Co., Ltd., Becton Dickinson and Company, Boston Scientific Corporation, Kyoto Medical Planning Co., Ltd., Tepha, Inc., REVA Medical, Inc., Elixir Medical Corporation, BIOTRONIK SE & Co. KG, Amaranth Medical, Inc., and Abbott Laboratories.

Key Market Segments Covered in Bioabsorbable Stents Industry Research

By Stents:

• Coronary Artery Stents
• Peripheral Artery Stents
• Non-vascular Stents
  • Esophageal Stents
  • Billary Stents

By Material:

• Metallic
• Ceramic
• Polymers
  • PGA
  • PLA
  • Co-Polymer

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By Application:

• Cardiovascular
• Orthopedics
• Cosmetic Surgery
• General Surgery
• Cranial
• Others

By End User:

• Hospitals
• Speciality Clinics
• Ambulatory surgical Centers

By Region:

• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• Middle East and Africa (MEA)

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