Bioabsorbable Stents Market: Global Industry Analysis and Forecast to 2015 to 2021
New York, NY -- (SBWIRE) -- 02/28/2019 -- Stents are commonly used in the treatment of blocked arteries. They are tiny and expandable mesh tubes that hold arteries open and help treat coronary and peripheral artery diseases. Bioabsorbable stents are defined as fully biodegradable stents that completely disappear overtime.
Bioabsorbable stents can be broadly classified into two main types: polymeric bioabsorbable stents and metallic alloy bioabsorbable stents. Polymeric bioabsorbable stents are widely used in cardiovascular devices. Polymers used in bioabsorbable stents are Poly-L-Lactic acid (PLLA), Poly (D, L-lactide/glycolide) copolymer (PDLA), Polyglycolic Acid (PGA), and polycaprolactone. Usage of bioabsorbable polymer coating reduces the need for extended dual anti-platelet therapy and reduces thrombotic events. Poly-L-Lactic acid is widely used in medicine and breaks down lactic acid into natural metabolites in the human body. After that, Poly-L-Lactic acid enters into Krebs cycle and metabolized carbon dioxide and water.
Iron and magnesium are the most frequently used metal alloys used to make metallic bioabsorbable stents. Factors that determine the biocompatibility of these metal alloys are their solubility and degradation products. Magnesium bioabsorbable stents are the most commonly used metallic alloy stents in disease management as magnesium is an essential element of the human body. It induces rapid endothelialization and lowers thrombogenicity. Magnesium bioabsorbable stents have a lower degradation time of about 2 – 3 months compared to iron-based bioabsorbale stents.
Geographically, North America dominates the global bioabsorbable stents market owing to the increased awareness about the important role played by bioabsorbable stents in the treatment of coronary ailments in the region. In addition, technological advancements in bioabsorbable stents products is also supporting in the growth of this market in North America. The U.S. represents the largest market for bioabsorbable stents, followed by Canada, in North America. In Europe, Germany, Italy, the U.K., and France holds major shares of the bioabsorbable stents market. However, Asia is expected to exhibit a high growth rate in the next five years in the global bioabsorbable stents market given the increasing public awareness about various coronary and peripheral artery diseases in the region. Japan, China, and India are expected to be the fastest growing bioabsorbable stents markets in Asia.
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In recent times, increasing prevalence of coronary and peripheral artery diseases is the key driver of the global bioabsorbable stents market. Bioabsorbable stents avoid stent-in-stent procedures. They also eliminate the need for dual anti-platelet therapies and treat coronary artery diseases more effectively. Accurate stent placement and low cost treatment also attract patients to adopt bioabsorbable stents for disease management.
However, slow adoption rate of stents in disease management is the key restraint faced by the global bioabsorbable stents market. High risks of complications associated with bioabsorbable stents and high selling price also hampers the market growth. In addition, inadequate reimbursement policies and presence of substitutes are some of the major challenges faced by the global bioabsorbable stents market. Rising number of product launches and increasing mergers and acquisitions between key players are key trends of this market.
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Major companies operating in the global bioabsorbable stents market are Abbott Laboratories, Arterial Remodeling Technologies SA, Amaranth Medical, Inc., BIOTRONIK SE & Co. KG, REVA Medical, Inc., Kyoto Medical Planning, Co., Ltd., and Elixir Medical Corporation.