Bioresorbable Vascular Scaffold Market Set to Reach $300.21 Million by 2031.

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Bioresorbable Vascular Scaffold Market- (By Product Type (Enviroximes-eluting Device, Novalis's-eluting Device, Sirolimus-eluting Device. Others), By Disease Type (Coronary Artery Disease, Peripheral Artery Disease), By Material Type (Poly-L-Lactic Acid (PLLA), Tyrosine-derived Polycarbonate, Others), By End-user (Hospital, Ambulatory Surgical Center, Cardiac Catheterization Lab, Others)) Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

According to the latest research by InsightAce Analytic, the Global Bioresorbable Vascular Scaffold Market is valued at US$ 160.72 Mn in 2022, and it is expected to reach US$ 300.21 Mn by 2031, with a CAGR of 7.3% during a forecast period of 2023-2031.

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Bioresorbable scaffolds (BRSs), which allow total resorption after use and temporary mechanical support, are specifically intended to reduce events associated with permanent metallic stents. According to some sources, the BRS concept is predicated on the idea that removing metallic caging would enable complete vasomotion restoration and cause luminal expansion. One of the key elements that propel the market for bioresorbable scaffolds is the rise in the prevalence of cardiovascular diseases (CVD) among people worldwide. The need for bioresorbable vascular scaffolds Market is anticipated to increase due to the increased incidence of risk factors like diabetes, obesity, and an ageing population. Additionally, a strong product pipeline and technological breakthroughs in bioresorbable vascular scaffolds (BVS) are additional drivers anticipated to fuel market expansion throughout the projected period. New-generation BRSs overcome pre-BRS limitations and achieve wider use using absorbable materials with stronger mechanical properties to build thinner struts and lower crossing profiles. Furthermore, new technological developments like next-generation BRSs with better outcomes helped the Europe bioresorbable vascular scaffold market grow during the projection year.

List of Prominent Players in the Bioresorbable Vascular Scaffold Market:
• BIOTRONIK Group of Companies
• Meryl Life Sciences Pvt. Ltd.
• Kyoto Medical Planning Co., Ltd.
• Elixir Medical
• Zorin Medical

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Market Dynamics:
Drivers-
Global bioresorbable vascular scaffold market growth is anticipated to be fueled by an increase in the incidences of cardiovascular diseases and a rise in demand for less invasive therapies. Additionally, the market demand for bioresorbable vascular scaffolds is projected to be driven by growth in healthcare spending and increased awareness of the advantages of BVS over traditional metallic stents. Global bioresorbable vascular scaffold market growth is anticipated to be fueled by an increase in the prevalence of cardiovascular diseases and a tremendous rise in demand for less invasive therapies. Additionally, the market demand for bioresorbable vascular scaffolds is projected to be driven by growth in healthcare spending and increased awareness of the advantages of BVS over traditional metallic stents.

Challenges:
The bioresorbable vascular scaffold market has faced challenges in product development and market competition. Some manufacturers have faced setbacks, including product withdrawals or discontinuations due to clinical concerns. This has affected the overall market dynamics and may have caused hesitation among healthcare providers regarding adopting BVS. The cost of BVS can be higher than that of metallic stents, which may impact its adoption, especially in healthcare systems with budget constraints. Additionally, reimbursement policies and coverage decisions vary across regions and insurance providers. Limited reimbursement or uncertainty in reimbursement coverage can pose challenges to the widespread adoption of BVS.

Regional Trends:
The North American bioresorbable vascular scaffold market is expected to register a major market share. North America's bioresorbable vascular scaffold market is projected to be driven by a sophisticated healthcare infrastructure, increased patient knowledge of minimally invasive treatments, and high disposable income. Besides, Europe had a substantial share of the market. Europe has been a hub for clinical trials and research related to BVS technologies. European clinical trials have played a pivotal role in evaluating the safety and efficacy of various BVS platforms. The outcomes of these trials have shaped the regulatory landscape and clinical guidelines for BVS use in Europe.

Recent Developments:
• In Mar 2021- Bioresorbable scaffold (BRS) MeRes100 was introduced in the nation by Meril Life Sciences following domestic research and development.MeRes100 was the initial 100 micron thin-strut BRS designed to treat coronary artery disease patients.

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Segmentation of Bioresorbable Vascular Scaffold Market-
By Product Type
• Enviroximes-eluting Device
• Novalis's-eluting Device
• Sirolimus-eluting Device
• Others
By Disease Type
• Coronary Artery Disease
• Peripheral Artery Disease
By Material Type
• Poly-L-Lactic Acid (PLLA)
• Tyrosine-derived Polycarbonate
• Others
By End-user
• Hospital
• Ambulatory Surgical Center
• Cardiac Catheterization Lab
• Others
By Region-
North America-
● The US
● Canada
● Mexico
Europe-
● Germany
● The UK
● France
● Italy
● Spain
● Rest of Europe
Asia-Pacific-
● China
● Japan
● India
● South Korea
● South East Asia
● Rest of Asia Pacific
Latin America-
● Brazil
● Argentina
● Rest of Latin America
Middle East & Africa-
● GCC Countries
● South Africa
● Rest of Middle East and Africa

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This release was published on openPR.