Global Drug-Eluting Bioabsorbable Stents Market Is Expected to Reach USD 579.87 Million by 2027 : Fior Markets
Drug-Eluting Bioabsorbable Stents Market by Product (Serolimus, Paclitaxel, Sirolimus, Everolimus, Zotarolimus and Others), Material Type (Polymer and Metallic), Applications, End-user, Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2020 to 2027
Newark, NJ, Sept. 29, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the *global **drug-eluting bioabsorbable stents **market* is expected to grow from USD 393.31 million in 2019 and to reach USD 579.87 million by 2027, growing at a CAGR of 9.36% during the forecast period 2020-2027.
The increase in the geriatric population worldwide is suffering from many chronic diseases, which have led to the market growth of drug-eluting bioabsorbable stents. The obesity rate is increasing at a higher rate, which has increased the prevalence of cardiac arrests. Apart from this, obesity has many health hazards, which can be life-threatening at times. Thus, the demand for drug-eluting bioabsorbable stents has increased from the last few years due to the efficiency of the treatment of coronary artery diseases.
The drug-eluting bioabsorbable stent is a coronary stent that is used to cure cell proliferation. It has been approved by the FDA and is found safe and efficient than the traditional metal stents. The drug-eluting bioabsorbable stents prevent fibrosis and clots that result in restenosis, a process that blocks the stented artery. The bioabsorbable polymer coating elutes the antiproliferative drugs, which helps to prevent restenosis after the process of stent implantation and inhibits intimal proliferation.
Apart from heart diseases, the rise in the incidence of diabetes and high blood pressure has also been a major driving factor for the market growth. The increasing number of cardiac surgeries has contributed significantly to the market growth. However, the high cost of the devices and post-DES risks are hindering the market growth.
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Key players operating in the drug-eluting bioabsorbable stents market are B.Braun Melsungen, Abbott Laboratories, Medtronic, Biosensors International, Boston Scientific Corporation, Alvimedica, Elixir Medical Corporation, Innovative Health Technologies, Terumo Corporation, MicroPort Scientific Corporation, Biotronik and others. The major players in the drug-eluting bioabsorbable stents market focus on expansionary strategies such as mergers & acquisitions, recent developments, joint ventures, collaborations, product innovations and partnerships. These strategies would extract higher market shares for the players and strengthen their position in the global market. B. Braun Melsungen and Boston Scientific Corporation are some of the biggest manufacturers and suppliers of drug-eluting bioabsorbable stents worldwide.
*Sirolimus segment* *dominated the market and held the largest market share of 32.93% in the year 2019*
Based on the product segment, the global drug-eluting bioabsorbable stents market includes serolimus, paclitaxel, sirolimus, and everolimus zotarolimus and others. Sirolimus segment dominated the market and held the largest market share of 32.93% in the year 2019. Sirolimus has proven to reduce major adverse cardiac events and target vessel failures, which have resulted in market growth.
*Polymer segment* *dominated the market and held the largest market share of 65.10% in the year 2019*
Based on the material type segment, the global drug-eluting bioabsorbable stents market includes polymer and metallic. Polymer segment dominated the market and held the largest market share of 65.10% in the year 2019. The polymer-based coating naturally gets metabolized in the human body. It gets readily absorbed in the arteries, which eases up the process and reduces complications.
*The coronary artery diseases segment* *dominated the market and held the largest market share of 61.92% in the year 2019*
On the basis of the application segment, the global drug-eluting bioabsorbable stents market includes coronary artery diseases and peripheral artery diseases. The coronary artery disease segment dominated the market and held the largest market share of 61.92% in the year 2019. The increasing patient population and the rising incidence of obesity have resulted in market growth. Further, the technological development of drug-eluting bioabsorbable stents has increased the usage it’s in coronary artery diseases.
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*The hospital's segment* *dominated the market and held the largest market share of 41.97% in the year 2019*
On the basis of the end-user segment, the global drug-eluting bioabsorbable stents market includes coronary hospitals, ambulatory surgical centers, and cardiac centers based on the end-user segment. The hospital segment dominated the market and held the largest market share of 41.97% in 2019. The hospitals have a higher number of patients visiting to treat cardiac diseases due to the advanced facility and infrastructure.
*Regional Segment Analysis of the Drug-Eluting Bioabsorbable Stents Market*· North America (U.S., Canada, Mexico)
· Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
· Asia-Pacific (China, Japan, India, Rest of APAC)
· South America (Brazil and Rest of South America)
· Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global drug-eluting bioabsorbable stents market is classified into North America, Europe, South America, Asia Pacific, and the Middle East and Africa. Europe region accounted for a significant market share of 43.27% in the year 2019. The region has a high number of the aged population who suffer from cardiac diseases, which has increased the demand for drug-eluting bioabsorbable stents. Apart from this, the established medical infrastructure has accelerated market growth. However, Asia-Pacific is expected to register the highest growth rate during the forecast period. The developing countries like India, Japan and especially China have high elderly patients. Also, the obesity rate is high in these countries, which lead to the emergence of cardiac diseases. Thus, the market is witnessing greater demand in the region.
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*About the report: *
The global drug-eluting bioabsorbable stents market is analyzed based on value (USD Billion). All the segments have been analyzed on a global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the market's key insight. The study includes porter's five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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