Bioabsorbable Stents Market Global Report 2020-30: Covid 19 Growth And Change

The Business Research Company’s Bioabsorbable Stents Market Global Industry Analysis 2020-30: Covid 19 Growth And Change

LONDON, GREATER LONDON, UK, August 11, 2020 /EINPresswire.com/ -- The drug-eluting stent (DES) is gaining significant popularity in the bioabsorbable stents market. The drug-eluting stent (DES) device is designed to avoid the regeneration of tissue that would otherwise obstruct the artery, and this was a new step forward in the treatment of peripheral artery disease. In 2018, Boston Scientific launched its self-expanding drug-eluting stent (DES) peripheral artery disease (PAD) scheme which helped the company to expand its PAD portfolio. In 2018, around 13 million stents were sold worldwide. According to a study published in the Journal of Cardiothoracic Surgery in January 2020, DES is safer than bioresorbable vascular stents for coronary revascularization.

The global bioabsorbable stents market size is expected to decline from $296.9 million in 2019 to $294.75 million in 2020 at a compound annual growth rate (CAGR) of -0.73%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The outbreak also restricted or postponed non-emergency treatments for cardiovascular diseases, thus impacting the market revenue. The global bioabsorbable stents market is then expected to recover and reach $408.92 million in 2023 at a CAGR of 11.53%.

Increasing cardiovascular disease cases is a key factor driving the bioabsorbable stents market growth. Cardiovascular disorders are a leading cause of death across the world, and 4 out of 5 cardiovascular deaths are caused by strokes and heart attacks. Moreover, one-third of such deaths occur prematurely in people under the age of 70. Bioresorbable stents are built primarily to reduce these risks of late complications, such as scaffold thrombosis or restenosis, that can happen when a conventional metal stent’s rigid metal backbone remains permanently rooted in the diseased vessel. According to the American Heart Association, it is estimated that more than 23.6 million people will die due to cardiovascular diseases by 2030. Therefore, increasing cardiovascular diseases are expected to drive the bioabsorbable stents market growth.

The bioabsorbable stents market consists of sales of bioabsorbable stents and related services. Bioabsorbable stents, also known as Bioresorbable stents (BRS) or vascular scaffolds, are coronary stents that can fully dissolve in the body. These biodegradable stents are used in percutaneous coronary intervention (PCI) procedures for providing structural support to the treated vessels and prevent acute recoil & restenosis. Bioabsorbable stents are commonly used in the treatment of heart diseases.

The bioabsorbable stents market is segmented by product type into polymer-based bioabsorbable stents and metal-based bioabsorbable stents. By absorption rate, the market is segmented into slow-absorption stents and fast-absorption stents. By applications, it is segmented into coronary artery diseases and peripheral artery diseases.

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The Business Research Company
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