The global biodegradable stents market is anticipated to be worth US$1.7 bn by 2024 as compared to US$18 mn in 2015. During the forecast years of 2016 and 2024, the global market is expected to expand at a CAGR of 30.1%.
Albany, NY -- (SBWIRE) -- 03/02/2017 -- In recent times, increasing prevalence of coronary and peripheral artery diseases has become a key driver of the rapidly increasing global biodegradable stents market. Also, the effectiveness of biodegradable stents has won the market several consumers in the recent past. Consequently, numerous patients and cardiologists have shown a strong interest in the uptake of biodegradable stents in the cure of coronary and peripheral artery diseases. This has been observed by a fresh study published to the online archive of Market Research Hub (MRH). The study is entitled as "Biodegradable Stents Market Global Industry Analysis Report" Forecast 2016-2024 which provides an in-depth analysis of the global market along with the details of key players gaining momentum in this market.
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According to the study findings, the global biodegradable stents market is expected to grasp value of US$1.7 billion by 2024, as the market rapidly progresses at a noteworthy CAGR of 30.1% between 2016 and 2024. There are several reasons present behind this growth, some of them are:
The biodegradable stents have arisen as a perfect replacement to the standard Drug Eluting Stents, also having a permanent polymer coating over them.
Biodegradable stents easily get entirely absorbed in the vessels over a period of time, also reducing the risk of complications or infections.
The market is also being driven by the high prevalence of chronic conditions and mounting aged population, which is prone to cardiovascular disorders.
First of all, the report presents a detailed market overview of biodegradable stents market. This section comprises qualitative analysis, by considering the factors shaping the market drivers, opportunities and restraints, together with porter's five forces and market attractiveness analysis. In terms of geography, the global biodegradable market is segmented into North America, Latin America, Asia-Pacific, Europe and Middle East & Africa. Amongst, the report indicates that Europe will emerge as the dominant segment in the global market in the coming years. Also, North American market will show substantial progress with recent approvals from U.S. FDA.
The two types of stents available in the global biodegradable stents market are coronary artery stents and peripheral artery stents. Of these, the coronary artery stents are expected to progress at a CAGR of 30.9% during the forecast period. Moreover, the market has been segmented by material or by its end-user;
By material, it covers:
End-users are Cardiac Catheterization Laboratories, Hospitals and Ambulatory Surgery Centers.
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At the end, the report determines with the profiles of chief players in the global biodegradable stents market such as Terumo Europe NV, Boston Scientific, Inc., Abbott Laboratories, Biotronik, Sahajanand Medical technologies, Elixir Medical Corporation and Kyoto Medical Planning.
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