Description
Scope of Absorbable Heart Stent Market
This includes research and development initiatives to design and manufacture absorbable heart stents with ideal features like as biocompatibility, mechanical strength, and degradation kinetics. Product development may also include advancements in stent design, materials, and drug-eluting coatings to improve performance and clinical results.
The scope comprises manufacturing methods for absorbable cardiac stents, such as fabrication techniques, material selection, quality control procedures, and regulatory compliance. Manufacturing techniques must ensure that stents are consistently of high quality, perform well, and are safe.
The rise in the incidence of coronary artery disease, as well as the accompanying increase in the number of PCI procedures, is one of the primary factors expected to drive the growth and demand for absorbable heart stents. Furthermore, the increasing number of patients suffering from chronic diseases, together with strong government initiatives for healthcare reform, is projected to fuel growth in the global absorbable cardiac stent market throughout the forecast period.
In terms of revenue, the global Absorbable Heart Stent Market is worth USD 2.78 billion at present and detailed market analysis reveals that it is estimated to surge to a valuation of USD 4.6 Billion by the end of 2030, at a phenomenal CAGR of 7%.
Impact of COVID – 19
The COVID-19 epidemic disrupted workflows in the healthcare sector around the world. The COVID-19 epidemic is predicted to have a negative influence on the expansion of the global coronary stent industry. The implementation of the lockdown approach delayed the PCI procedure by up to six months, with only a minor negative impact on the market.
The complete research study looks at the Absorbable Heart Stent market from both qualitative and quantitative perspectives. The market has been evaluated from both a demand and supply perspective. The demand side study examines market revenue in several regions before expanding to include all significant countries. The supply side analysis examines the industry’s key competitors, as well as their regional and global presence and strategies. Each major country in North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America is extensively explored.
Absorbable Heart Stent Market: Growth Drivers
The need for absorbable heart stents, which provide advantages like shortened recovery times, shorter hospital stays, and less complications, is being driven by patients’ and doctors’ growing preference for minimally invasive procedures over open surgery. Absorbable cardiac stents are becoming more and more popular because they provide a number of benefits over metallic stents that are more commonly used. These benefits include decreased risk of late stent thrombosis, restored artery vasomotion, and the removal of long-term problems linked to permanent implants.
Growing healthcare spending, especially in developed and emerging nations, encourages easier access to cutting-edge medical procedures and devices, such as absorbable cardiac stents, which propels market expansion. Adoption and growth of the market are facilitated by favorable reimbursement policies for coronary treatments, such as absorbable cardiac stents, in important markets. These policies lessen the financial burden on patients and healthcare providers.
Absorbable Heart Stent Market: Restraints
-
Limited Clinical Evidence:
While absorbable heart stents have the potential to minimize the risk of long-term problems when compared to typical metal stents, there may be insufficient long-term clinical data to support their safety and efficacy. Due to a lack of sufficient data, healthcare professionals and regulatory bodies may be hesitant to accept and approve these devices.
-
Regulatory Approval Challenges:
Obtaining regulatory approval for absorbable heart stents can be difficult due to high requirements for safety and efficacy. The regulatory road for these devices may be complex, including significant clinical studies and post-market surveillance, resulting in delayed market entry and increased development costs.
-
Technical Challenges:
Creating absorbable heart stents that meet the mechanical requirements for coronary artery support while degrading safely and reliably within the body is a big technical problem. Achieving the best mix of structural integrity, biocompatibility, and degradation kinetics is critical, but it may necessitate novel materials and manufacturing procedures.
Absorbable Heart Stent Market: Opportunity Factors
-
Rising Incidence of Cardiovascular Diseases:
The rising frequency of cardiovascular disorders, notably coronary artery disease, creates a substantial market opportunity for absorbable cardiac stents, which offer a potential alternative to standard metallic stents.
-
Regulatory Support and Approvals:
Manufacturers may find it easier to enter and grow new markets if absorbable cardiac stents are approved in important markets and have favorable regulatory frameworks.
-
Focus on Patient-Centric Healthcare:
A greater focus on patient-centered healthcare is resulting in the creation of individualized treatment plans, such as absorbable cardiac stents made to fit the needs of specific patients.
Absorbable Heart Stent Market: Challenges
One of the main issues with absorbable stents is assuring their long-term clinical performance and safety when compared to standard metal stents. Late stent thrombosis, artery re-narrowing (restenosis), and device-related problems must be addressed through extensive clinical trials and post-market surveillance.
To facilitate vascular repair and avoid unfavorable tissue reactions, absorbable stents must have optimum biocompatibility and predictable degradation profiles. Fine-tuning the material composition, surface properties, and degradation dynamics of absorbable stents pose technological problems for producers.
Absorbable Heart Stent Market: Recent Developments
- Abbott Laboratories is a renowned medical device firm that created and commercialized the Absorb Bioresorbable Vascular Scaffold (BVS). Recent innovations may include improvements in the design and composition of bioresorbable polymers, clinical trials to assess the safety and efficacy of BVS, and efforts to address long-term issues such as scaffold thrombosis.
- Elixir Medical is a firm that creates bioresorbable scaffolds and drug-eluting stents for cardiovascular applications. Recent developments may include advancements in Elixir’s DESolve Bioresorbable Coronary Scaffold System, such as clinical study results and regulatory clearances in several areas.
Absorbable Heart Stent Market: Key Outcomes of the Report
Restoring blood flow to coronary arteries impacted by coronary artery disease with absorbable heart stents has shown effective in improving patient outcomes, including a lowered risk of myocardial infarction, a reduction in angina symptoms, and an enhanced quality of life. Compared to conventional metallic stents, absorbable heart stents have the benefit of lowering the risk of late stent thrombosis, which can happen as a result of protracted inflammation or insufficient endothelialization. Patients’ clinical outcomes and long-term safety are enhanced as a result. Absorbable heart stents, as opposed to permanent metallic stents, remove the possibility of a foreign body remaining in the coronary artery after the scaffold dissolves. This improves patient outcomes and lowers healthcare costs by lowering the likelihood of long-term problems such stent fractures, in-stent restenosis, and the need for repeat procedures. A major advancement in the field of interventional cardiology has been made with the development and use of absorbable heart stents, which offer patients alternative treatment options that may have better long-term results and give clinicians a new tool to manage coronary artery disease.
List of Key Players in the Global Absorbable Heart Stent Market
- Abbott Laboratories
- Biotronik
- Boston Scientific Corporation
- Medtronic plc
- Biotronik SE & Co. KG
- Terumo Corporation
- Meril Life Sciences Pvt. Ltd
- Elixir Medical Corporation
Absorbable Heart Stent Market: Segmentation
By Material
- Metal
- Polymer
By Product Type
- Bioresorbable Vascular Scaffolds (BVS)
- Biodegradable Polymer Stents
By End-Use
- Hospital & Clinics
- Cardiac Catheterization Laboratories
By Region
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
