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Bioresorbable Vascular Scaffold Market to Observe Strong Development by 2025

03-06-2018 04:47 PM CET | Health & Medicine

Press release from: Transparency Market Research

Bioresorbable Vascular Scaffold Market to Observe Strong

Coronary heart disease, cerebrovascular disease, peripheral arterial disease, rheumatic heart disease, congenital heart disease, deep vein thrombosis, and pulmonary embolism are the major cardiovascular diseases affecting millions of people globally. Incidence of cardiovascular diseases has increased significantly, especially in Asia Pacific. Prevalence of cardiovascular diseases is higher in countries in the West including the U.S., the U.K., Germany, France, and Russia. Bioresorbable vascular scaffolds such as poly-L-lactide (PLLA) bioresorbable scaffold, metallic bioresorbable scaffolds, and hybrid bioresorbable scaffold help patients suffering from different types of cardiovascular diseases. The number of patients suffering from cardiovascular diseases admitted to hospital inpatient and outpatient settings has increased markedly. A shift from usage of conventional metallic stents to bioresorbable vascular scaffolds has been observed for the treatment of CVDs.

Increasing prevalence of coronary heart disease, ischemic heart disease, and other cardiovascular diseases is a major factor driving The Bioresorbable Vascular Scaffold Market. Other factors anticipated to drive the market include preference for drug-eluting devices for angioplasty, increasing number of domestic and global players entering the market with new products and techniques, leading to increase in funding for R&D of surgical procedures using stents for treating stroke and other cardiovascular diseases. However, preference for vascular graft devices for angioplasty and coronary artery diseases leading to a rise in outpatient treatment of cardiovascular diseases is projected to restrain the market during the forecast period.

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The global bioresorbable vascular scaffold market can be segmented based on product type, disease indication, end-user, and region. In terms of product type, the market can be categorized into masks, tubes, inhalers, and others. Based on disease indication, the global bioresorbable vascular scaffold market can be classified into coronary artery disease, pulmonary artery disease, and other vascular diseases. The coronary artery disease segment is projected to account for a large share of the global bioresorbable vascular scaffold market during the forecast period due to increasing prevalence of ischemic heart disease and rising demand for by-pass surgery procedures, especially in emerging economies such as China, Brazil, the UAE, and India. In terms of end-user, the market can be segmented into hospitals, surgery clinics, ambulatory care centers, and others.

In terms of region, the global bioresorbable vascular scaffold market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to dominate the global market during the forecast period. According to the Centers for Disease Control and Prevention, heart disease accounts for around 610,000 deaths in the U.S. each year. Coronary heart disease (CHD) is the most common type of heart disease and accounts for over 370,000 deaths annually.

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Furthermore, increasing prevalence of cardiovascular diseases such as coronary heart disease and rising number of cardiovascular surgeries due to obesity and fatigue among young population because of unhealthy food habits especially in developing countries such as China, Australia, and India are likely to propel the bioresorbable vascular scaffold market in Asia Pacific. Moreover, WHO statistics stated that cardiovascular diseases accounted for an estimated 17.7 million deaths in 2015; around 7.4 million were due to coronary heart disease and 6.7 million were due to stroke. However, incidence of coronary heart disease, peripheral arterial disease, and other cardiovascular diseases is rising in Asia Pacific due to increase in smoking, unhealthy food habits, and a large geriatric patient population. This, in turn, is anticipated to fuel demand for cost-effective bioresorbable vascular scaffold devices. These factors are projected to drive the bioresorbable vascular scaffold market in Asia Pacific between 2017 and 2025.

Key players operating in the global bioresorbable vascular scaffold market include Abbott, Cook Medical, Boston Scientific Corporation, W.L. Gore & Associates, Medtronic, C. R. Bard, Inc., Stentys SA, MAQUET Holding B.V. & Co. KG (Getinge AB), B. Braun Melsungen AG, and Terumo Corporation among others.

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

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