Biodegradable Stents Market Analysis | 2022-2028

Market Insights

The biodegradable stents market was estimated at USD 316.41 million in 2021 and is likely to grow at a CAGR of 9.24% during 2022-2028 to reach USD 589.37 million by 2028.

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Market Dynamics

Introduction

Biodegradable stents are innovative medical devices designed to provide temporary support to narrowed or blocked blood vessels, allowing them to remain open during the healing process. Unlike traditional metal stents, biodegradable stents are made from materials such as polylactic acid or magnesium alloys that gradually dissolve or are absorbed by the body over time. This eliminates the long-term risks associated with permanent implants, such as inflammation or restenosis. Primarily used in cardiovascular and gastrointestinal procedures, these stents offer a promising solution for improving patient outcomes, reducing complications, and enhancing the natural recovery process in minimally invasive medical interventions.

COVID-19 Impact

The COVID-19 outbreak moderately affected the growth of the biodegradable stents market. With the surge in COVID-19 cases, healthcare professionals across geographies were focusing on treating corona-infected patients and other essential healthcare services. Additionally, the number of people visiting hospitals for non-emergency medical issues declined due to fear of infection.

Market Dynamics

The rise in the geriatric population, surge in percutaneous coronary intervention (PCI) procedure, growing prevalence of cardiovascular disease, and an increase in adaptation of bioabsorbable stents by patients and physicians are some of the major factors boosting the market growth. Moreover, strong growth in demand for minimally invasive procedures, advancement in technology in stents, and rise in the initiative taken by the government for the development & production of bioabsorbable stents further augment the industry growth.

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Key Players

The following are the key players in the biodegradable stents market:

• Boston Scientific Corporation (US)
• Arterius Limited (UK)
• Elixir Medical Corporation (US)
• Kyoto Medical Planning Co. Ltd (Japan)
• Terumo Corporation (Japan)
• Abbott Laboratories Inc. (US)
• Amaranth Medical (US)
• Biotronik (Germany)
• Meril Life Sciences Pvt. Ltd (India)
• Reva Medical (US)

Note: The above list does not necessarily include all the top players in the market.

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Segment Analysis

By Biomaterial Type

"Polymeric stents segment accounted for a substantial market share in 2021"

Based on biomaterial, the market has been classified into polymeric stents and metallic stents. The polymeric stents segment accounted for a substantial market share in 2021. This is mainly ascribed to an increase in the usage of polymeric stents by several physicians, companies, and patients due to less inflammatory response, and low risk of associated complications. Also, research is still conducted on polymeric stent materials for the development of the novel bioabsorbable stents, which possess a low risk for restenosis and late-stent thrombosis, which further bolsters the segment growth.

Regional Analysis

"North America accounted for the largest share in 2021 and is projected to continue its dominance during the review period"

The market in North America accounted for the largest share in 2021 and is projected to continue its dominance during the review period. This is mainly attributed to the surge in prevalence of cardiovascular disease, rise in the number of approval for novel bioabsorbable stents, the large presence of advanced healthcare infrastructure, as well as presence of major market participants. In addition, the surge in R&D activities in the healthcare sector and enhancement of healthcare infrastructure, and presence of major players operating in the region, which further proliferates the regional growth.

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Research Methodology

• This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s biodegradable stents market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market

The biodegradable stents market is segmented into the following categories:

By Biomaterial Type

• Polymeric Stents
• Metallic Stents

By Application Type

• Coronary Artery Disease
• Peripheral Artery Disease

By End-User Type

• Hospital
• Cardiac Centers

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, India, Australia, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Saudi Arabia, Brazil, and Others)

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Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].