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Bioabsorbable Stents Market Trends That Will Shape the Next Decade: Insights from MicroPort Scientific Corporation Launches World's First Next-Generation Fully Bioresorbable Cardiac Stent, Firesorb, with Market Approval in China
Bioabsorbable Stents
How Large Will the Bioabsorbable Stents Market Size By 2025?
In recent times, the market size for bioabsorbable stents has significantly expanded. The market value, which stands at $0.37 billion in 2024, is projected to increase to $0.41 billion in 2025, indicating a compound annual growth rate (CAGR) of 9.2%. The market's growth throughout the historic period has been fueled by several factors; growing incidence of cardiovascular ailments, increased preference for minimally invasive surgeries, heightened knowledge about bioabsorbable stents, rising disposable income levels, and considerable financial investments in this industry.
How Big Is the Bioabsorbable Stents Market Size Expected to Grow by 2029?
The market for bioabsorbable stents is anticipated to experience substantial growth in the coming years, expanding to $0.59 billion by 2029 with a compound annual growth rate (CAGR) of 9.9%. Factors contributing to this growth during the projected period include wider clinical uses, tailored and personalized solutions, worldwide expansion, and more patient-comforting choices. Key trends to watch in the future include advancements in bioabsorbable materials, clinical developments, scientific data and research, hybrid stent designs, extended absorption periods, and business collaborations and partnerships.
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Which Key Market Drivers Powering Bioabsorbable Stents Market Expansion and Growth?
The escalating incidences of heart failure are predicted to spur the expansion of the bioabsorbable stents market. Heart failure marks a decrease in the heart muscle's capacity to pump blood effectively, leading to an excess build-up of fluid in the body. Bioabsorbable stents offer a strategy for managing heart failure, boosting cardiac function and alleviating its symptoms. For example, the Heart and Stroke Foundation of Canada, a recognized authority on heart disease, strokes, surgeries and treatments, has registered around 750,000 heart failure cases in February 2022, with a yearly addition of 100,000 new cases of this untreatable condition. Forecasts suggest that by 2030, expenditures in healare relating to heart failure in Canada are expected to ascend to $2.8 billion per annum. Consequently, the rising rhythm of heart failure is set to stimulate the expansion of the bioabsorbable stents market in the future.
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What Long-Term Trends Will Define the Future of the Bioabsorbable Stents Market?
Top firms in the bioabsorbable stents industry are focusing their efforts on technological innovation, with the aim of enhancing the profitability of their establishments in this sector. Techniques such as the Latest Generation of Bioresorbable Cardiac Stent, which represents state-of-the-art medical appliances intended for use in the treatment of coronary artery disease, are being developed. These devices are crafted from biodegradable materials that gradually dissolve after fulfilling their role of ensuring the artery remains open. For example, MicroPort Scientific Corporation, a medical appliances producer located in China, received approval for the planet's first fully bioresorbable cardiac stent of the next generation from the National Medical Products Administration (NMPA) of China in July 2024. The stent, named Firesorb, dissolves entirely within three years, drastically reducing the risk of long-term problems like thrombosis. Clinical trials, which involved testing on 1,468 patients, yielded encouraging outcomes, such as the low thrombosis incidence of 0.32% and a target lesion failure rate of a mere 4.3% over a span of four years. Medical professionals have lauded the innovative thin strut structure and improved endothelial coverage of Firesorb when compared to previous iterations of stents.
What Are the Emerging 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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Who Are the Global Leaders 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 are the Top Profitable Regional Markets for the Bioabsorbable Stents Industry?
North America was the largest region in the bioabsorbable stents market in 2024. 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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