Press release
Key Bioabsorbable Stents Market Trend for 2025-2034: MicroPort Scientific Corporation Launches World's First Next-Generation Fully Bioresorbable Cardiac Stent, Firesorb, with Market Approval in China
Bioabsorbable Stents Market Size
In recent times, there has been a robust growth in the bioabsorbable stents market size. The market value is expected to increase from $0.37 billion in 2024 to approximately $0.41 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 9.9%. The historical growth can be credited to the growing incidence of cardiovascular diseases, augmented demand for minimally invasive procedures, higher awareness related to bioabsorbable stents, an increase in disposable incomes, and substantial industry investments.
The market for bioabsorbable stents is expected to experience substantial growth in the upcoming years, with forecasts predicting a value of $0.59 billion in 2029 at a compound annual growth rate of 9.8%. The predicted rise in the projected period can be ascribed to broader clinical indications, customisation and personalisation, worldwide expansion, and patient-friendly choices. Influential trends in the expected timeframe encompass advancements in bioabsorbable materials, clinical advancements, clinical data and research, hybrid stent designs, extended absorption periods, as well as collaborations and partnerships.
What Is Stimulating Growth in the Bioabsorbable Stents Market?
The bioabsorbable stents market is likely to witness significant growth due to the rising incidence of heart failure. This disorder is defined by the heart muscle's diminished capacity to pump blood efficiently, which leads to a surplus of fluid in the body. Bioabsorbable stents can play a pivotal role in managing heart failure, improving heart function and lessening its symptoms. For instance, as per the Heart and Stroke Foundation of Canada, a reputable Canada-based institution for information on stroke, heart diseases, surgeries, and treatments, as of February 2022, there are 750,000 individuals suffering from heart failure. There is also an annual increase of 100,000 new cases of this uncurable condition. It is predicted that by 2030, the healthcare expenses related to heart failure in Canada could escalate to $2.8 billion annually. Consequently, the escalating rate of heart failure is anticipated to fuel the growth of the bioabsorbable stents market.
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Which Key Market Leaders Are Driving Bioabsorbable Stents Industry Growth?
Major companies operating in the bioabsorbable stents market include Abbott Laboratories, REVA Medical Inc., Elixir Medical Corporation, Biotronik SE & Co. KG, Amaranth Medical Inc., Zorion Medical Inc., Tepha Inc., S3V Vascular Technologies, ICON Interventional Systems Inc., Arterius Limited, Microport Scientific Corporation, Meril Life Sciences Pvt. Ltd., Medlogics Device Corporation, B. Braun Melsungen AG, Boston Scientific Corporation, C.R. Bard Inc., Stentys SA, Terumo Corporation, OrbusNeich, Arterial Remodeling Technologies, Cardionovum GmbH, Envision Scientific Pvt Ltd., Eurocor GmbH, Hexacath, Kyoto Medical Planning Co. Ltd., Lifetech Scientific (Shenzhen) Co. Ltd., Manli Cardiology Limited, Medtronic Inc., QualiMed Innovative Medizinprodukte GmbH, Sahajanand Medical Technologies Pvt. Ltd., Sinomed, Surmodics Inc., Translumina Therapeutics, Vascular Concepts Limited, Xenogenics Corporation
What Are the Emerging Trends in the Bioabsorbable Stents Industry?
Significant players in the bioabsorbable stents market are prioritizing the development of novel technologies such as the latest iteration of Bioresorbable Cardiac Stent, to boost their market profitability. This latest generation refers to state-of-the-art medical devices intended for use in treating coronary artery disease. They are crafted from materials that biodegrade after performing their duty of maintaining the artery unblocked. In July 2024, MicroPort Scientific Corporation, a leading medical device manufacturer based in China, obtained the approval of the world's first next-generation fully bioresorbable cardiac stent from the National Medical Products Administration (NMPA) in China. Firesorb, the product developed by MicroPort Scientific Corporation, is envisioned to dissolve entirely within three years, thereby considerably minimizing long-term issues like thrombosis. Clinical experiments including 1,468 subjects showcased promising outcomes, such as a minimal thrombosis rate of 0.32% and a target lesion failure rate over four years of a mere 4.3%. Its innovative design of thin struts and better endothelial coverage compared to previous stents have earned accolades from top medical professionals.
What Are the Main Segments in the Bioabsorbable Stents Market?
The bioabsorbable stents market covered in this report is segmented -
1) By Product Type: Polymer-Based Bioabsorbable Stents, Metal-Based Bioabsorbable Stents
2) By Absorption Rate: Slow- Absorption Stents, Fast- Absorption Stents
3) By Applications: Coronary Artery Diseases, Peripheral Artery Diseases
Subsegments:
1) By Polymer-Based Bioabsorbable Stents: PLGA (Poly(Lactic-Co-Glycolic Acid)) Stents, PGA (Polyglycolic Acid) Stents, PLLA (Poly(L-Lactic Acid)) Stents, Other Biodegradable Polymer Stents
2) By Metal-Based Bioabsorbable Stents: Magnesium-Based Stents, Iron-Based Stents, Zinc-Based Stents, Other Metal-Based Bioabsorbable Stents
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Which Geographic Area Leads the Bioabsorbable Stents Market?
North America was the largest region in the bioabsorbable stents market in 2023. Western Europe was the second-largest region in the bioabsorbable stents market report. The regions covered in the bioabsorbable stents market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Is Covered In The Bioabsorbable Stents Global Market Report?
- Market Size Analysis: Analyze the Bioabsorbable Stents Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Bioabsorbable Stents Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Bioabsorbable Stents Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Bioabsorbable Stents Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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