Biodegradable Stents Market Report
Biodegradable Stents Market, By Biomaterial (Polymeric Stents, Metallic Stents), By Application (Coronary Artery Disease, Peripheral Artery Disease), By End-User (Hospital, Cardiac Centers) and Region - COVID-19 Impact Analysis and Forecast to 2026.
This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global biodegradable stents market. The historic years considered for the study are 2016-2019, the base year is 2020, the estimated year is 2021, and the forecast period is 2022-2026.
Biodegradable Stents Market, By Biomaterial (Polymeric Stents, Metallic Stents), By Application (Coronary Artery Disease, Peripheral Artery Disease), By End-User (Hospital, Cardiac Centers) and Region - COVID-19 Impact Analysis a...
Impact of COVID-19 on Biodegradable Stents Market
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
The Biodegradable Stents Market is estimated to grow from USD 288.7 million in 2020 to USD 490.2 million by 2026 at a healthy CAGR of 9.4% during the forecast period.
A stent may be a medical device that's inserted into the inner duct of the body for expanding the blood vessels and preventing the vessels from blockage. Bio-absorbable stents also remarked as bio-resorbable stents or naturally-dissolving stents, are made from materials that get absorbed within the body and act by expanding the vessels or internal duct for clearing the blockage caused thanks to the deposition of plague.
Key players operating in the biodegradable stents market are-
The rise in the geriatric population, surge in percutaneous coronary intervention (PCI) procedure, growing prevalence of cardiovascular disease, and an increase in adaptation of bioabsorbable stents by patients and physicians are some of the major factors boosting the market growth. Moreover, strong growth in demand for minimally invasive procedures, advancement in technology in stents, and rise in the initiative taken by the government for the development & production of bioabsorbable stents further augment the industry growth.
Based on biomaterial, the market has been classified into polymeric stents and metallic stents. The polymeric stents segment accounted for a substantial market share in 2020. This is mainly ascribed to an increase in the usage of polymeric stents by several physicians, companies, and patients due to less inflammatory response, and low risk of associated complications. Also, research is still conducted on polymeric stent materials for the development of the novel bioabsorbable stents, which possess a low risk for restenosis and late-stent thrombosis, which further bolsters the segment growth.
The market in North America accounted for the largest share in 2020 and is projected to continue its dominance during the review period. This is mainly attributed to the surge in prevalence of cardiovascular disease, rise in the number of approval for novel bioabsorbable stents, the large presence of advanced healthcare infrastructure, as well as presence of major market participants. In addition, the surge in R&D activities in the healthcare sector and enhancement of healthcare infrastructure, and presence of major players operating in the region, which further proliferates the regional growth.
The COVID-19 outbreak moderately affected the growth of the biodegradable stents market. With the surge in COVID-19 cases, healthcare professionals across geographies were focusing on treating corona-infected patients and other essential healthcare services. Additionally, the number of people visiting hospitals for non-emergency medical issues declined due to fear of infection.
Here is the list of the group of customers that the Biodegradable Stents Market hopes to have the greatest opportunity to convert-
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The biodegradable stents market is expected to witness an impressive growth of 9.4% CAGR in the coming years.
Boston Scientific Corporation (US), Arterius Limited (UK), Elixir Medical Corporation (US), Kyo-to Medical Planning Co. Ltd (Japan), Terumo Corporation (Japan), Abbott Laboratories Inc. (US), Amaranth Medical (US), Biotronik (Germany), Meril Life Sciences Pvt. Ltd (India), and Reva Medical (US) are among the key players in the biodegradable stents market.
The biodegradable stents market size is expected to reach USD 490.2 million in the foreseeable future.
The polymeric stents segment accounted for a substantial share in the biodegradable stents market in 2020.
North America is expected to remain dominant in the biodegradable stents market in the next five years.
Biodegradable Stents distributors, Biodegradable Stents suppliers, Biodegradable Stents manufacturers, Hospitals, Government bodies are the target audience in the biodegradable stents market.