Bioresorbable Vascular Scaffold Market Value Projected to Expand by 2018-2026 With Abbott, Cook Medical, Boston Scientific Corporation, B. Braun Melsungen AG, Medtronic Plc, Theragenics Corporation

The global bioresorbable vascular scaffold market size was valued at US$ 147.0 million in 2017, and is expected to exhibit a CAGR of 12.5% over the forecast period (2018 – 2026). Increasing demand for bioresorbable vascular scaffold owing to high prevalence of coronary heart disease, ischemic heart disease, and other cardiovascular diseases is expected to drive market growth. According to American Heart Association Council, in 2015, cardiovascular disease was the leading cause of death in the world, accounting for over 17.9 million deaths per year globally, and this number is expected to increase to over 23.6 million by 2030. From the same source, cardiovascular diseases accounted for nearly 836,546 deaths in the U.S. in 2015, which is about 1 of every 3 deaths.

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Moreover, key players are opting for different strategies such as new product launches, FDA approvals, partnerships, and collaborations to increase its foothold in the market. For instance, in July 2016, Abbott received the U.S. Food and Drug Administration approval for Absorb bioresorbable heart stent. This device is first-of-its-kind medical device with fully dissolving heart stents. This device will be available to treat people with coronary artery disease in the U.S.

Key Players

Major players operating in the global bioresorbable vascular scaffold market include Abbott, Cook Medical, Boston Scientific Corporation, B. Braun Melsungen AG, Medtronic Plc., Stentys SA, MAQUET Holding B.V. & Co. KG (Getinge AB), W.L. Gore & Associates, C. R. Bard, Inc., and Theragenics Corporation.

Increasing Prevalence Of Coronary Heart Disease, Ischemic Heart Disease, And Other Cardiovascular Diseases Is Expected To Propel Growth Of The Bioresorbable Vascular Scaffold Market

Bioresorbable vascular scaffold is used in treatment of blockage of coronary and peripheral artery, which is related to coronary heart disease, ischemic heart disease, and other cardiovascular diseases. High prevalence of coronary heart disease, ischemic heart disease, and other cardiovascular diseases is expected to propel demand for bioresorbable vascular scaffold, which in turn will drive the market growth. According to World Health Organization (WHO), 2015, cardiovascular diseases is the first leading cause of morbidity and mortality worldwide, with around 17.7 million representing 31% of all global deaths in 2015, out of these deaths, an estimated 6.7 million were due to stroke and 7.4 million were due to coronary heart disease.

Similarly, according to American Heart Association in 2018, 92.1 million American adults were suffering with some form of cardiovascular disease or the after-effects of stroke. Nearly 836,546 deaths in the U.S. were due to cardiovascular disease, which is about 1 of every 3 deaths. Direct and indirect costs in the treatment of cardiovascular diseases and stroke were estimated to amount to US$ 329.7 billion in 2018, which includes both health expenditures and lost productivity, in the U.S. Furthermore, introduction of novel bioresorbable vascular scaffold, which help patients with cardiovascular diseases, is propelling growth of the bioresorbable vascular scaffolds market over the forecast period.

Increasing Adoption Of Bioresorbable Vascular Scaffolds In North America Is Expected To Boost The Market Growth

North America is expected to be held dominant position in the global bioresorbable vascular scaffold market, owing to rapid growth in geriatric population, rising incidences of cardiac ailments, coronary & peripheral artery diseases, and increasing number of obese people in the region. According to World Population Prospects, the number of persons aged 80 or over is projected to triple by 2050, from 137 million in 2017, to 425 million in 2050 in the U.S., while this age bracket is expected to more than double globally, rising from 962 million in 2017 to 2.1 billion in 2050.

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Moreover, key players in the market are focused on receiving regulatory approvals for novel products to reduce the burden of blood stream infections associated with bioresorbable vascular scaffolds. For instance, in May, 2018, Pursuit Vascular, Inc., received U.S. FDA clearance for broader indication of its ClearGuard HD caps to include reduction in the incidence of central-line associated bloodstream infection (CLABSI) in hemodialysis patients with bioresorbable vascular scaffolds.

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