Bioresorbable Vascular Scaffold Market Growth Forecast to 2031 with Technological Advancements and Increasing Adoption in Cardiovascular Treatments

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 USD 169.60 Mn in 2023 , and it is expected to reach USD 300.32 Mn by the year 2031, with a CAGR of 7.56% during a forecast period of 2024-2031.

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Bioresorbable scaffolds (BRSs) are designed to provide temporary mechanical support and fully resorb after use, aimed at mitigating issues commonly associated with permanent metallic stents. The BRS concept is based on the premise that the removal of metallic caging facilitates the restoration of full vasomotion and promotes luminal expansion. One of the primary factors driving the demand for bioresorbable scaffolds is the increasing prevalence of cardiovascular diseases (CVD) globally. The market for bioresorbable vascular scaffolds is expected to grow due to the rising incidence of risk factors such as diabetes, obesity, and an aging population.

Moreover, the ongoing development of innovative products and technological advancements in bioresorbable vascular scaffolds (BVS) are expected to further accelerate market growth during the forecast period. The next generation of BRSs addresses the limitations of earlier versions by utilizing absorbable materials with enhanced mechanical properties, enabling the creation of thinner struts and reduced crossing profiles. Additionally, advancements in technology, such as next-generation BRSs that offer improved clinical outcomes, are anticipated to drive the growth of the bioresorbable vascular scaffold market in Europe over the coming years.

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:
The growth of the global bioresorbable vascular scaffold market is expected to be driven by the rising incidence of cardiovascular diseases and the increasing demand for less invasive treatment options. Additionally, factors such as growing healthcare expenditure and heightened awareness of the benefits of bioresorbable vascular scaffolds (BVS) over traditional metallic stents are anticipated to further propel market demand. The shift toward minimally invasive therapies, alongside advancements in medical technology, is also expected to drive the adoption of BVS in the coming years.

Challenges:
The bioresorbable vascular scaffold market has encountered challenges in product development and competition. Some manufacturers have faced difficulties, including product withdrawals or discontinuations due to clinical concerns, which have impacted overall market dynamics and may have created hesitancy among healthcare providers in adopting BVS. Furthermore, the higher cost of BVS compared to metallic stents may hinder its widespread adoption, particularly in healthcare systems with budget constraints. Additionally, varying reimbursement policies and coverage decisions across different regions and insurance providers may pose further challenges to the broader adoption of BVS technology.

Regional Trends:
The North American bioresorbable vascular scaffold market is expected to capture a significant market share, driven by the region's advanced healthcare infrastructure, increasing patient awareness of minimally invasive treatment options, and high disposable income levels. Meanwhile, Europe has also demonstrated a substantial market presence, being a hub for clinical trials and research related to BVS technologies. European clinical trials have been instrumental in assessing the safety and efficacy of various BVS platforms, and the outcomes of these trials have played a significant role in shaping regulatory frameworks and clinical guidelines for the use of BVS in the region.

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

View Overview Report: https://www.insightaceanalytic.com/report/bioresorbable-vascular-scaffold-market/1990

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This release was published on openPR.