Market Trends of Global Bioabsorbable Stents Industry
This section covers the major market trends shaping the Bioabsorbable Stents Market according to our research experts:
Polymer-based Bioabsorbable Stents Sub-segment is Expected to hold its High Market Share in the Product Type Segment
The Bioresorbable Polymer-Based Stents segment is expected to dominate the other segment of the market. The factors can be attributed to the increasing number of approvals for polymer-based stents in different regions, as well as the increased focus on developing polymeric stents.
Bioabsorbable stents (BAS)/polymer-based bioabsorbable stents are made of materials that can completely dissolve or be absorbed in the body. These are used both in peripheral and coronary artery disease. Most bioabsorbable stents are made of polylactic acid, a naturally dissolvable material. However, the polymer materials, such as polycarbonates, polyesters, corrodible metals, and bacterial-derived polymers are under investigation for developing the next-generation bioabsorbable stents.
According to the study titled "Safety and efficacy of the bioabsorbable polymer everolimus-eluting stent versus durable polymer drug-eluting stents in high-risk patients undergoing PCI: TWILIGHT-SYNERGY" published in the Catheterization and Cardiovascular Intervention in May 2020, In high-risk patients undergoing percutaneous coronary intervention (PCI), the safety and efficacy of bioabsorbable polymer (BP) drug-eluting stents (DES) remain superior to durable polymer (DP) DES. Thus, high safety and efficacy of the polymerbased bioabsorbable stent anticipated to boost the segment growth over the forecast period.
However, key market players focused on the launch of the new polymer-based bioabsorbable stent in the market. For instance, in September 2021, Biotronik reported that its Orsiro Mission bioabsorbable polymer coronary drug-eluting stent system has been approved by the Food and Drug Administration. The device's first implantation and full commercial availability in the United States were also reported by the company. The Orsiro Mission BP-DES received European CE Mark approval in February 2020, according to the company.
Thus, all aforementioned factors anticipated to boost the market growth over the forecast period.
North America Dominates the Market and is Expected to do the Same in the Forecast Period
North America currently dominates the market for bioabsorbable stents and is expected to continue its stronghold for a few more years. North America holds the largest market share for bioabsorbable stents due to the dominance of the top companies present in the global market. There is also an increase in the aging population, an increase in the prevalence of heart diseases, and technological advancements found in the region. In addition, other factors, such as a good reimbursement scenario, have been driving the North American bioabsorbable stent market.
According to the American Heart Association, in 2019, approximately 121.5 million United States adults had some form of cardiovascular disease. Also, according to the Centers for Disease Control and Prevention, 2019, approximately 18.2 million United States adults have coronary artery disease, and 805,000 Americans have a heart attack each year. The increasing patient pool is boosting the market growth in the region.
Furthermore, the availability of technologically advanced products in the United States also drives the market growth. For instance, in April 2021,BIOTRONIK received Health Canada approval of the Orsiro drug-eluting stent (DES) system. It is the first and only ultrathin strut DES to outperform the former clinical standard, Xience DES1. Orsiro has been used to treat almost three million patients worldwide to date. Also, as per the news published by Diagnostics and Interventional Cardiologist (DIAC) in April 2019, more than 800,000 percutaneous coronary intervention (PCI) procedures are performed annually in the United States and fewer than 8,000 require a covered stent. Hence, the need for stents is likely to drive the growth in the United States.
Thus, all aforementioned factors anticipated to boost the market growth over the forecast period.
