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Market
Analysis
The Global
Absorbable
Heart Stent Industryis predicted to grow at a 9.6% CAGR between
2017-2023, states the latest Market Research Future (MRFR) report. Absorbable
stents are meant for patients with relatively noncomplex blockages and low
risk. It gets dissolved in the body with time and its possible advantages
include fewer risks compared to traditional metal stents and reduced repeat
procedures. Absorbable stents are generally made of polymers or metals. The
metallic stents are generally made of iron and its alloys, iron, magnesium, and
zinc. Of the two, the polymeric stents are widely used for their ability to
maintain a strong scaffold.
Various factors are
propelling the absorbable heart stent market growth. Some of these factors, as
per the latest Market Research Future report, include increasing psychological
and physical stress, changing lifestyle, rising number of cardiac procedures,
rise in patient pool, and burgeoning demand for absorbable heart stents.
Additional factors propelling the absorbable heart stent market growth include
technological advancements in heart stents, rising incidence of cardiac
diseases, lack of physical exercise, and increasing unhealthy habits.
On the contrary, the
high cost of cardiac surgery and the price of stents in some developed
countries are factors that may hamper the absorbable heart stent market growth
during the forecast period.
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Key
Players
Notable players
profiled in the absorbable heart stent market report include Meril Life
Sciences Pvt. Ltd, Terumo Medical Corporation, Medtronic, Boston Scientific
Corporation, KYOTO MEDICAL PLANNING Co., Ltd., Braun Melsungen AG, Elixir
Medical Corporation, REVA Medical, Inc., Biotronik, and Abbott Laboratories.
Key players have incorporated different strategies to create a niche in the
market, such as joint ventures, research, and development activities,
collaborations, expansions, mergers and acquisitions, and more.
Market
Segmentation
The MRFR report
provides an all-inclusive segmental analysis of the absorbable heart stent
market on the basis of end use, application, and material.
By material, the
absorbable heart stent market is segmented into polymer and metal. Of these,
the polymer segment will lead the market over the forecast period owing to the
rising applications as well as the use of stents that are polymer-based.
By application, the
absorbable heart stent market is segmented into periphery artery disease and
coronary artery disease. Of these, the coronary artery disease segment will
dominate the market over the forecast period due to the increasing incidence of
coronary diseases in geriatric individuals.
By end use, the
absorbable heart stent market is segmented into research institutes and
organizations, cardiovascular centers, hospitals and clinics, and others. Of
these, hospitals and clinics will have the maximum share in the market during
the forecast period owing to the increasing risk of peripheral artery disease
and coronary artery disease coupled with a growing number of heart surgeries.
Regional
Analysis
By region, the
absorbable heart stent market report covers the latest trends and growth
opportunities across the Americas, the Middle East and Africa, Europe, and the
Asia Pacific. Of these, the Americas will spearhead the absorbable heart stent
market during the forecast period. Factors pushing the growth of the absorbable
heart stent market in the region include increasing use of absorbable heart
stents by healthcare physicians, preference of patients for minimally invasive
therapies, increasing prevalence of chronic diseases, and favorable initiatives
undertaken by the government for healthcare reforms. Canada and the US are the
chief contributors in this region owing to the rising geriatric population
suffering from obesity and diabetes, greater healthcare penetration, good
reimbursement rates, and the presence of good hospitals, especially in the
developed countries of the region.
In Europe, the
absorbable heart stent market is predicted to have the second-largest share
during the forecast period. Factors pushing the growth of the absorbable heart
stent market in the region include the prevalence of peripheral artery disease
(PAD) and coronary artery disease CAD), a huge patient pool, increasing
healthcare penetration, and expanding medical devices industry. Germany is the
main contributor in this region owing to the presence of a huge medical device
industry, followed by France.
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