The global bioabsorbable stents market is expected to reach USD 2.4 billion by 2021 from USD 0.4 billion by 2016, at a CAGR of 42.5% during the forecast period. The major driving factors are the increasing focus of the companies on clinical trials of bioabsorbable stents, increasing aging population, technological advancements, and patients’ preference for minimally invasive therapies. However, factors such as the high prices of these stents may hamper the growth of the market.
Europe is the largest regional market for bioabsorbable stents, accounting for 60% of the total market in 2016. The North American market is expected to grow at the highest CAGR of 46.1% during the forecast period, due to the increase in aging population, unhealthy lifestyle habits, and the strong healthcare infrastructure in this market.
Traditionally, bare metal stents were used for the treatment of coronary and peripheral artery diseases. Due to various complications, such as stent thrombosis and the increased risk of restenos is, these stents were replaced by drug-eluting stents, which in turn were succeeded by bioabsorbable stents. Bioabsorbable stents have overcome the complexities and disadvantages of drug-eluting stents. They restore the normal ability of the artery to contract & relax, improve abnormal endothelial function, and permit remodeling of the vessel.
Apart from the comprehensive regional analysis, and market sizing, the report also provides a competitive landscape that covers growth strategies adopted by industry players over the last three years. The company profiles comprise basic views on key players and their product portfolios, developments, and strategies adopted. The above-mentioned market research data, current market sizes, and forecast of future trends will help key players and new entrants make informed decisions regarding product offerings, geographical focus, change in strategic approach, R&D investments, and levels of output in order to remain successful.
Reasons to Buy the Report:
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help firms, garner a greater market share. Firms purchasing the report can use any one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the bioabsorbable stents market. The report analyzes the bioabsorbable stent market by material, absorption rate, application, end user, and region
- Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and new product launches in the bioabsorbable stent market
- Competitive Assessment: In-depth assessment of market strategies, geographical and business segments, and product portfolios of the leading players in the bioabsorbable stent market
- Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the market for bioabsorbable stent market across geographies
- Market Diversification: Exhaustive information about new products and services, untapped geographies, recent developments, and investments in the bioabsorbable stent market