Increasing prevalence of heart diseases such as coronary heart diseases, arthrosclerosis, ischemic heart disease (IHD), myocardial infarction, and angina. As per the American Heart Association, in 2016, approximately 28.1 million U.S. adults were diagnosed with heart disease and nearly 634,000 people died of heart disease in 2015. Increasing prevalence of coronary artery diseases and hypertension influence pumping of the heart. Apart from this, increasing unhealthy dietary habits especially consumption of foods, high in fat, cholesterol, and sodium are increasing risk for heart failure. Hence, increasing adoption of unhealthy life is supporting the growth of the market.
The global biodegradable stents market is segmented by product application, absorption rate and end user.
On the basis of product type the market is segmented into polymer based biodegradable stents, and metal based biodegradable stents. Bioresorbable polymer-based stents segment is expected to dominate during forecast period. This is attributed to growing focus on developing polymeric stents and rising approvals for polymer-based stents.
Based on the application, the biodegradable stents market is segmented into coronary artery disease, peripheral artery disease. Coronary artery diseases segment is expected to hold the largest share of the market owing to increasing aging population. Additionally, adoption of unhealthy lifestyle habits leading to increased risk of coronary artery diseases.
On the basis of absorption rate, the market is segmented into slow absorption rate, intermediate absorption rate, and fast absorption rate.
Based on the end users, the biodegradable stents market is segmented into hospital and cardiac centres.
Geographically, biodegradable stents market is segmented into North America, Europe, Asia Pacific, Latin America and The Middle East & Africa (LAMEA).
North America is expected to hold the largest share of the global biodegradable stents market in the forecast period 2019–2026. This is attributing to increasing the prevalence of cardiovascular diseases such as angina, blockage in artery, myocardial infraction. Apart from this increasing geriatric population and chronic diseases and increasing population of obese are boosting the growth of the biodegradable stents market.
Europe is expected to grow at a considerable rate and is likely to continue the same during the coming year. Increasing geriatric population and high prevalence of cardiovascular diseases are propelling the growth of the market in the future.
Asia–Pacific is expected to be fastest growing region for global biodegradable stents market during forecast period. This significant growth is attributed to increasing prevalence of heart diseases and increasing obese population.
LAMEA is expected to witness considerable growth in the global market during the forecast period. The significant growth is attributed to the increasing prevalence of cardiovascular diseases.
These are prominent players in biodegradable stents Abbott Laboratories, Boston Scientific, Inc., Terumo Europe NV, Biotronik, Elixir Medical Corporation, Sahajanand Medical technologies, and Kyoto Medical.
By Absorption Rate
By End User
In 2015, Boston Scientific received FDA approval for SYNERGY bioabsorbable polymer drug-eluting stent system for the treatment of coronary artery disease.