Press release
2025-2034 Bioabsorbable Stents Market Evolution: Disruptions, Innovations, and Untapped Opportunities
Bioabsorbable Stents
What Is the Expected CAGR for the Bioabsorbable Stents Market Through 2025?
The market for bioabsorbable stents has seen significant growth in recent years. The market, which was valued at $0.37 billion in 2024, is projected to increase to $0.41 billion in 2025 with a compound annual growth rate (CAGR) of 9.9%. The previous growth can be tied to factors such as an increased incidence of cardiovascular diseases, growing preference for minimally invasive surgeries, heightened awareness about bioabsorbable stents, increase in disposable incomes, and investments from the industry.
What's the Projected Size of the Global Bioabsorbable Stents Market by 2029?
The market for bioabsorbable stents is predicted to experience robust growth in the coming years, increasing to a value of $0.59 billion by 2029 with a compound annual growth rate (CAGR) of 9.8%. The anticipated growth within the forecast period is due to factors such as broader clinical applications, customisation, personalisation, and global extension, as well as its user-friendly nature. Key trends expected to emerge during the said period include advancements in bioabsorbable materials, clinical breakthroughs, research and clinical data, hybrid stent designs, extended absorption periods, and strategic collaborations and partnerships.
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Top Growth Drivers in the Bioabsorbable Stents Industry: What's Accelerating the Market?
The bioabsorbable stents market is predicted to grow due to the escalating incidence of heart failure. This condition, marked by the heart's decreased efficiency in blood pumping which leads to excessive fluid buildup in the body, can be managed using bioabsorbable stents. These devices aid in improving heart function and easing symptoms. For example, according to data from the Heart and Stroke Foundation of Canada in February 2022, a credible source for stroke, heart disease, surgeries and treatment details, the current tally of heart-failure-diagnosed individuals stands at 750,000. This is climbing annually at a rate of 100,000 new cases, and the condition remains incurable. Predictions suggest that by 2030, medical expenses relating to heart failure in Canada could amount to $2.8 billion per year. As a result, the accelerating prevalence of heart failure is expected to boost the expansion of the bioabsorbable stents market in the future.
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What Trends Will Shape the Bioabsorbable Stents Market Through 2029 and Beyond?
Prominent companies in the bioabsorbable stents market are directing their efforts towards developing innovative technologies such as the Latest Generation of Bioresorbable Cardiac Stent, in a bid to boost their market profitability. These advanced devices, which are an integral part of treating coronary artery disease, are constructed from biodegradable substances that gradually disintegrate over time after serving its purpose of keeping the artery open. As an illustration, MicroPort Scientific Corporation, a medical device manufacturing firm based in China, was granted approval in July 2024 by the National Medical Products Administration (NMPA) in China for its state-of-the-art, fully bioresorbable cardiac stent, making it the first of its kind globally. Firesorb, created by MicroPort Scientific Corporation, is engineered to completely disappear within a three-year period, thereby significantly decreasing the likelihood of long-term issues such as thrombosis. Clinical examinations involving 1,468 patients reflected promising outcomes, with a scanty thrombosis incidence of 0.32% and a mere 4.3% failure rate of the target lesion over four years. Top medical professionals have commended its revolutionary thin strut structure and excellent endothelial coverage, as compared to prior stent generations.
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 Top Companies are Driving Growth in the Bioabsorbable Stents Market?
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
Which Regions Will Dominate the Bioabsorbable Stents Market Through 2029?
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.
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