Biodegradable Stents Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts - 2022 to 2030

The report titled Biodegradable Stents Market - Growth, Future Prospects, and Competitive Analysis, 2022 - 2030 offers strategic insights into the overall biodegradable stents market along with the market size and estimates for the duration 2020 to 2030. The said research study covers in-depth analysis of multiple market segments based on type of products, materials, and different geographies. A key estimate for interventional cardiology discussed by Transcatheter Cardiovascular Therapeutics (TCT) and American College of Cardiology (ACC) in a meeting is that biodegradable stents will eventually replace conventional metallic stents in the near future. The key factors assisting the growth of biodegradable stents market are rising prevalence of coronary artery disease, increasing obesity due to sedentary lifestyle in young population, and increasing preference for biodegradable stents by cardiologists.

For the purpose of this study, the global biodegradable stents market is segmented on the basis of material type into polymer and metal. The product segment comprises market size of coronary and peripheral stents. Market size estimates and forecast for these segments for the period 2020 to 2030 are provided in terms of USD Mn along with the respective compounded annual growth rates (CAGRs) for the period 2022 to 2030, considering 2021 as the base year.

The geographical segmentation of biodegradable stents market comprised regions such as North America, Europe, Asia-Pacific, Latin America & Middle East and Africa. Each geographical region is further split to provide market revenue for select countries such as the U.S., Canada, U.K. Germany, China, Japan, Brazil, and GCC countries. Market size and forecast for these segments during 2020 to 2030 and their CAGRs for the period 2022 to 2030 are provided in this report.

The biodegradable stents market is observed as the most diversified and competitive market comprising large number of players. The market is dominated by several players, depending on their major competencies. The key players in this market are Abbott Laboratories, Arterius Ltd., Boston Scientific, Inc., Biotronik, Kyoto Medical Corporation, Elixir Medical Corporation, Biosensors International, Terumo Europe NV, Ella CS, Arterial Remodeling Technologies SA, SMT (Part of Sahajanand Group of Companies), and Others.

In year 2020, coronary stents segment accounted for the largest share due to key driving factors rising prevalence of coronary artery diseases around the world, increasing preference of cardiologists for percutaneous coronary intervention procedures, increasing awareness associated with early diagnosis of cardiac diseases, and increasing application of stents. According to World Health Organization (WHO) estimates, around 17.3 million people died from cardiovascular diseases in 2008 and it is expected that each year more than 23.3 million people will die due to cardiovascular diseases; this trend is predicted to continue till 2030. However the Centers for Disease Control & Prevention (CDC) U.S. suggested that, the no. of deaths due to coronary artery diseases has started decreasing due to increase in the number of percutaneous coronary interventions being performed by using a range of coronary stents available in the global market.

In base year 2020, Europe accounted for the largest market share due to key drivers such as increasing public awareness related to early disease diagnosis, increasing obesity in geriatric population, and easy accessibility to modern medical facilities. According to Europe Heart Network, Each year cardiovascular disease (CVD) causes 3.9 million deaths in Europe and over 1.8 million deaths in the European Union (EU). Hospital discharge rates for CVD as a whole have increased steadily in Europe over the past 25 years. During the forecast period 2022 - 2030, Asia-Pacific was observed as the fastest growing biodegradable stents market due to key drivers such as premium price life-essential device, push strategy approached by key players to penetrate market, India observed as the largest market in Asia-Pacific with huge population, and rising healthcare expenditure assisted by mounting economic growth.

In year 2020, polymer-based biodegradable stents accounted for the largest market share due to key driving factors such as risks associated with metal-based biodegradable stents, reduces target vessel revascularization (TVR), long term safety, and reduces risk of stent thrombosis and myocardial infarction. The most competent stents available in the market are zotarolimus-eluting stent (Resolute, Medtronic), cobalt-chromium everolimus-eluting stent (Xience, Abbott Vascular), and platinum-chromium everolimus-eluting stent (Promus, Boston Scientific). According to market experts, clinical research has shown that resorbable stents, offer comparable efficacy and safety profile to drug-eluting stents. Thus, high prevalence of coronary artery diseases across the globe around the world, rising preference of cardiologists towards percutaneous coronary intervention procedures, and increasing uptake of use of stents are expected to make a significant contribution to the soaring revenue of this segment in the forecast period.

Historical & Forecast Period

This study report represents analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2030.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Biodegradable Stents market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Biodegradable Stents market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Market Segmentation

Product

• Coronary Stents
• Peripheral Stents

Material

• Polymer
• Metal

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Biodegradable Stents market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2030.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Biodegradable Stents market?
• Which is the largest regional market for Biodegradable Stents market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Biodegradable Stents market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Biodegradable Stents market worldwide?

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