Biodedegradable drug eluting stents market: report offers Market Size, Dynamics, Regional Market Share, Top Key Players, Latest trends, Growth factors, Industry Stats, Historic Market, Business Intelligence, Business Research Reports, Competitive Intelligence 2013 to 2017 and Forecast 2018 to 2024
Biodedegradable drug eluting stents market:
Drug-eluting stents are peripheral or coronary stents placed into narrowed peripheral or coronary arteries that slowly release the drug to block cell proliferation. Generally, these devices are made up of metal and remain permanently or removed with the help of another surgery. Metal stents present drawbacks such as the predisposition to late stent thrombosis, impairment of imaging with multislice CT, hindrance of surgical revascularization. Biodegradable drug-eluting stents are made up of material that dissolves or absorbed in the body, these are temporary, and no need for further surgery to removal of the stent. These are also called as bioresorbable stents or naturally- dissolving stents.
Global Biodegradable Drug Eluting Stents Market growth is driven by growing prevalence of coronary artery diseases, increased geriatric population who are more prone to heart diseases. According to World Health Organization (WHO), cardiovascular diseases are a primary cause of deaths globally, representing 31% of all global deaths. Of these deaths, an estimated 7.4million were due to coronary heart disease and 6.7 million were due to heart stroke. Furthermore, biodegradable drug-eluting stents have various advantages over the traditional metal stents such as no need of further surgery to remove stent, quick restoration of blood flow and faster healing process which are expected to boost the biodegradable drug eluting stents market. However, a risk of complications in use and lower awareness about biodegradable stents among healthcare professionals in developing and developed regions are expected to hamper the growth of Biodegradable Drug Eluting Stents Market.
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Biodegradable Drug Eluting Stents Market has been categorized into-
- Type of material
- Metallic Alloy Stents
- Polymeric Stents
- Applications
- Coronary Artery Disease
- Peripheral Artery Disease
- End-users
Hospitals and cardiac centers.
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And lastly, on the basis of geographical regions it is divided into 5 major parts-i.e. North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In North America, U.S. represents the largest market owing to the higher prevalence of cardiovascular diseases especially coronary artery diseases. Asia Pacific region is expected significant growth rate due to increasing awareness about biodegradable drug eluting stents. In Asia region, India, China, Japan are expected to grow at significant rate owing to rise in prevalence of chronic diseases, such as diabetes and cardiac diseases which are expected to boost the demand for biodegradable drug eluting stents.
Some of the key players in global biodegradable drug eluting stents market include Biosensors International Group (Singapore), Abbott Laboratories (U.S), Medtronic (U.S.), B. Braun Holding GmbH & Co. KG (B.Braun Melsungen) (Germany), Boston Scientific Corporation (U.S.), and Terumo Corporation (Japan) to name a few. In 2015, Boston Scientific Corporation received USFDA approval for the synergy bioabsorbable Polymer Drug-Eluting Stent System (BP-DES) for the treatment of coronary artery disease.
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Market players are focusing on product development with extensive R&D, mergers and acquisitions, partnerships, and collaborations. For example, in 2014, Terumo Medical Corporation partnered with Arterial Remodeling Technologies to develop bioresorbable stents with the help of Arterial Remodeling Technologies. Larger players, such as Abbott and Biosensors International, are developing innovative biodegradable stents to reduce the complications post-percutaneous coronary intervention procedures. The application segments coronary artery segment expected to account for major market share as eluting stents are considered as ideal for treating coronary artery disease.
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