The global bioresorbable stents market is expected to reach USD 417.2 million by 2022 from USD 242.4 million in 2017, at a CAGR of 11.5% during the forecast period.
Market growth of bioresorbable stents is attributed to the growing aging population susceptible to coronary and peripheral artery diseases, rising PCI procedures, increasing focus of companies on clinical trials of bioresorbable stents, increasing adoption of these stents by physicians and patients, and patients’ preference for minimally invasive therapies.
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Market Dynamics
Drivers
- Rapidly Growing Geriatric Population and Increased Risk of CAD and PAD in the Elderly
- Strong Product Pipeline
Restraints
- Presence of Substitutes
Opportunities
- Emerging Markets to Offer High-Growth Opportunities for Market PartiCIPAnts
Challenges
- Product Withdrawals and Failures
- High Risk of Complications
Rapidly growing geriatric population and increased risk of cad and pad in the elderly and strong product line are the major drivers for the market.
The risk of developing CAD and PAD increases with age; people aged 65 years and older are more likely to suffer from these diseases than younger adults. This increased risk is caused due to various changes that occur in the arteries because of aging, such as hardening and weakening of arteries and increased plaque formation. Coronary artery disease (CAD) is one of the leading causes of death worldwide. According to the WHO, the burden of CAD is projected to rise from around 47 million DALYs (disability-adjusted life years) globally in 1990 to 82 million DALYs in 2020. The demand for bioabsorbable stents is expected to increase in the coming years owing to factors such as the rapidly growing aging population across the globe, increase risk of CAD and PAD in the elderly, and the various benefits associated with these devices. This increased demand is expected to have a positive impact on the bioabsorbable stents market.
Companies are increasingly focusing on developing stents that are efficient, can be fully absorbed into the body, and can naturally restore the movement of the artery while healing it. These stents are used for the treatment of coronary and peripheral artery disease. The strong pipeline of highly advanced products plays an important role in driving the growth of the bioabsorbable stents market.
