Bioresorbable Scaffolds Market Grow Exponentially by 2023, registering a fabulous CAGR at a 18.9% throughout the forecast period

Bioresorbable scaffolds Research Report 2018-2023

Bioresorbable scaffolds are like stents which are used during cardiovascular surgeries. They are valuable tools used for the treatment of different coronary diseases. According to WHO in 2014, approximately 18 million people died from cardiovascular diseases. Increasing prevalence of cardiovascular diseases, rising diabetic & obese population, and rapid development in technology have boosted this market’s growth. In addition to this, increasing stress, poor diet and lack of exercise have also contributed in the growth of this market. However, availability of alternative therapy may restrain this market’s growth.

The global bioresorbable scaffolds market is expected to grow at a CAGR of 18.9% during forecasted period 2017-2023.

Some of the key player for the market are Abbott (US), Medtronic (UK), Boston Scientific Corporation (US), Biotronik (Germany), Elixir Medical Corporation (US), REVA Medical, Inc (US), Amaranth Medical, Inc. (US), Kyoto Medical Planning Co. Ltd. (Japan), Xenogenics Corporation (US), B. Braun (Germany), Cardinal Health. (US), Lombard Medical, Inc (UK), Translumina (Germany), MicroPort Scientific Corporation (China) and TERUMO CORPORATION (Japan).

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The bioresorbable scaffolds market is segmented on the basis of material, types, application and end users. On the basis of material the market is classified into absorbable magnesium stent (AMS), polymeric scaffold, poly carbonate scaffold and others.

On the basis of types, the market is segmented into drug eluting coronary scaffolds, everolimus-eluting device, novolimus-eluting device, sirolimus-eluting device, and paclitaxel-eluting device.

On the basis of application, the market is segmented into peripheral vascular intervention, regulation of blood flow and others. On the basis of end users, the market is categorized into hospitals, clinics and others.

Highlights

Many companies are focusing on research and development activities to improve quality of bioresorbable scaffolds products. Many companies are also focusing on the development of new products to overcome disadvantages of other available medical devices. Some of them have adopted strategies of acquisitions and strategic alliances for the growth of this market.

Abbott Laboratories is one of the leading healthcare company which is headquartered in US. The company is the primary player in this market with its drug-eluting BAS, Absorb BVS products ABSORB. GT1 is the most widely used Bioresorbable Vascular Scaffold (BVS) System manufactured by the company.

Boston Scientific Corporation is a global manufacturer and developer of medical devices, headquartered in US. SYNERGY family products are some of the major products of this company. In 2015, worldwide sales of the company’s drug-eluting coronary stents were $1.074 billion as compared to $1.151 billion in 2014.

Market Segmentation by Regions, America continues to dominate the global bioresorbable scaffolds market, owing to the presence of huge population suffering from diabetes, obesity, and other cardiovascular diseases. Along with this, presence of large number of leading companies, rising geriatric population and high healthcare expenditure have also contributed to the growth of this market. Europe is the second largest market which is followed by Asia Pacific. Well-developed healthcare sector and government’s support for research and development have contributed to the highest growth of this market here. According to WHO, in 2016 around 5% of total India’s population were suffering from obesity. Increasing prevalence of peripheral vascular diseases, increasing number of obese people and aging population are major driving factors for the growth of this market in Asia Pacific.

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Geographically, the global post-operative pain management market is segmented into Americas, Europe, Asia Pacific and the Middle East and Africa. Among these regions, Americas is dominating the global post-operative pain management market owing to the large patient pool undergoing surgical procedures and availability of well-developed healthcare infrastructure in this region. The Europe region accounts for second largest share in the global post-operative pain management market owing to the increasing research and development activities for introduction of new drugs with fewer side-effects.

The Asia Pacific region is projecting fastest growth in the global post-operative pain management market owing to the increasing prevalence of chronic diseases that require surgical treatment and rapid rise in geriatric population in this region. The post-operative pain management market in the Middle East and Africa region is projecting steady growth due to lack of awareness and poor primary health care services in the underdeveloped areas of this region.

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