Stratview Research delivers key insights on the global Biodegradable Stents Market. According to Stratview Research, the market is segmented By Biomaterial (Polymeric Stents, Metallic Stents), By Application (Coronary Artery Disease, Peripheral Artery Disease), By End-User (Hospital, Cardiac Centers) and Region.
The report also covers the Covid impact on the market. Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and an uptrend is witnessed from 2021.
Market Insights
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.
Market Segments' Analysis
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 RD 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.
Key Players
The following are some of the key players in the Biodegradable Stents Market:
- Boston Scientific Corporation (US)
- Arterius Limited (UK)
- Elixir Medical Corporation (US)
- Kyoto Medical Planning Co. Ltd (Japan)
- Terumo Corporation (Japan)
- Abbott Laboratories Inc. (US)
- Amaranth Medical (US)
- Biotronik (Germany)
- Meril Life Sciences Pvt. Ltd (India)
- Reva Medical (US)
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