Bioresorbable scaffolds market size is expected to grow significantly from 2019 to 2025.
Increasing prevalence of cardiovascular diseases (CVD) will surge demand for bioresorbable scaffolds. Cardiovascular diseases are one of the leading causes of all deaths globally. According to WHO, 17.9 million i.e., approximately 31% people die each year globally due to CVD. Moreover, changing lifestyle, consumption of junk food has resulted in numerous chronic diseases and obesity. Thus, bioresorbable scaffolds have pivotal role in cardiovascular surgeries. Benefits offered by bioresorbable scaffolds such as it completely gets absorbed by the body leaving no foreign material will augment its demand in coming years. As a result, rising prevalence of chronic coupled with advantages of bioresorbable scaffolds will exceed business growth.
Rising efforts undertaken by industry players to develop bioresorbable scaffolds will increase its adoption that will prove beneficial for industry growth. Companies are emphasizing on R&D activities to develop scaffolds that can be completely absorbed and naturally restore movement of artery. Furthermore, market players are manufacturing innovative scaffolds that prevent vessel recoil that enables secretion of anti-proliferative drug. As a result, advancements in bioresorbable scaffolds will augment its demand that will propel business growth. However, high cost associated with bioresorbable scaffolds may hinder market growth up to some extent.
Drug eluting coronary scaffolds segment had xx revenue in 2018 and it will expand extensively in coming years. Drug eluting coronary scaffolds are majorly used in setting of primary angioplasty and they have benefits over other stents such as it eliminated risk of infections and biodegradable property that enhances surgical outcomes. Additionally, drug eluting coronary scaffolds reduce incidences of stent thrombosis and restenosis to restore vascular physiology. These characteristics improvise patient outcome that will surge its demand thereby, fueling segment growth.
Absorbable magnesium stent (AMS) segment is anticipated to witness robust growth in forecast timeframe. Benefits of AMS are it helps in restoring vessel properties such as vasomotion that has ability to contract and expand as body attempts to restrained blood flow during exercise and rest. Additionally, AMS has ability to efficiently treat previously stented site to allow bypass graft without interrupting the existing implant. They also successfully deliver anti-restenosis drugs. As a result, benefits offered by AMS will augment its demand that will augment segment revenue.
Peripheral vascular intervention segment had lucrative revenue share in 2018 and it is anticipated to augment in near future. According to CDC, the U.S. currently have 8.5 million people suffering from peripheral vascular disease. These diseases are caused due to smoking, high cholesterol, diabetes, etc. As a result, bioresorbable scaffolds are used for treating patients having symptoms refractory to optimal medical therapy. These scaffolds overcome the natural endothelial elastic recoil and constrictive remodeling, helping patient to heal at a faster pace. Thus, rising prevalence of peripheral vascular diseases will augment demand for bioresorbable scaffolds exceeding segment growth.
Hospital segment is anticipated to witness significant growth over the analysis timeline. Substantial growth is attributed to rising prevalence of chronic diseases globally. Scaffolds have pivotal role in cardiovascular surgeries to unclog the obstructed blood flow in arteries and veins. Furthermore, initiatives taken by public hospitals to offer quality and cost-effective treatment make easier for patients to afford bioresorbable scaffolds. Thus, increasing initiatives undertaken by hospitals will increase patient’s preference towards it that will drive segment growth.
Europe bioresorbable scaffolds market had xx revenue in 2018. Lucrative revenue is attributed to demographic trends of the region such as growing baby boomers susceptible to numerous chronic conditions. Rising disease burden and changing lifestyle of people has resulted in obesity. Thus, for treatment of cardiovascular diseases demand for bioresorbable scaffolds will surge in coming years. Additionally, strong foothold of industry players will provide innovative solutions that will increase adoption rate that will prove beneficial for regional market growth.
Notable industry players operating in the bioresorbable scaffolds market are Abbott, Medtronic, Boston Scientific Corporation, Biotronik, Elixir Medical Corporation, REVA Medical, Amaranth Medical, Kyoto Medical Planning, Xenogenics Corporation, B. Braun, Cardinal Health, Lombard Medical, Translumina, MicroPort Scientific Corporation and TERUMO CORPORATION. For instance, in October 2018, REVA Medical demonstrated Fantom bioresorbable scaffold at Transcatheter Cardiovascular Therapeutics conference. This strategy will enable company to promote their product that should help it to increase its revenue.
Bioresorbable Scaffolds Market by type, 2014-2025 (USD Million)
Bioresorbable Scaffolds Market by material, 2014-2025 (USD Million)
Bioresorbable Scaffolds Market by application, 2014-2025 (USD Million)
Bioresorbable Scaffolds Market by end-user, 2014-2025 (USD Million)
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