11% CAGR growth by 2023 in Bio-absorbable Stents Market | Dominant Players - ABBOTT LABORATORIES, KYOTO MEDICAL PLANNING CO. LTD, REVA MEDICAL, ELIXIR MEDICAL CORPORATION, AMARANTH MEDICAL, TERUMO CORPORATION, amongst other.

Europe to dominate the Market

Europe has the largest market share in bio absorbable stents market, followed by North America. Asia-Pacific is expected to have the highest growth rate in the forecast period, due to the increasing awareness among people about the procedure and the products. Several products are being developed, some are in clinical trials and others in various stages of development, which is an indication of a bright future for this market.

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According to World Health Organization (WHO), cardiovascular diseases are the number one cause of death globally. With the increase in population the number of people with cardiovascular diseases is expected to rise. This rise in the disease rate is also expected to increase the usage of stents, in turn, it is expected to drive the market during the forecast years. The changing lifestyles, rising obese population and steep growth in the geriatric population are the major driving factors for the market growth. High cost of the device hinders the growth of the market.

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Market Segments:
Bio absorbable stents market is segmented by:
1. Product Type, Polymer Based Bio absorbable Stents, Metal Based Bio absorbable Stents
2. Application: Coronary Artery Disease, Peripheral Artery Disease, Others
3. Absorption Rate: Slow Absorption Rate, Intermediate Absorption Rate, Fast Absorption Rate
4. End User: Hospitals, Ambulatory Surgical Centers, Others
5. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments in the Market
• September 2017: Abbott Laboratories halted the global sales of their fully absorbable stent-Absorb Bioresorbable Vascular Scaffold (BVS).
• April 2017: Reva Medical has secured a CE mark for its drug-eluting bioresorbable coronary scaffold.

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