Scienza e Tecnologia
Bioabsorbable Stents Market to Reach $308.9 Mn, Globally, by 2027 at 5.6% CAGR: AMR
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Increase in technological developments in bioabsorbable stents, surge in prevalence of chronic heart diseases, rise in geriatric populations drive the growth of the global bioabsorbable stents market. Moreover, surge in demand for minimally invasive procedures supplemented the market growth. However, high cost and risk of procedure associated with bioabsorbable stents hamper the market growth. On the other hand, surge in R&D and growth in development of healthcare infrastructure are expected to open lucrative opportunities for the market players.
By biomaterial, the metallic stents segment is expected to manifest the highest CAGR of 6.3% during the forecast period, owing to increase in prevalence of gastrointestinal disease, adoption of unhealthy life diet, and lack of necessary physical exercise. However, the polymeric stents segment dominated the market in 2019, accounting for nearly three-fifths of the market, due to rise in the number of approvals from government and increase in prevalence of cardiovascular diseases.
By application, the coronary artery disease segment held the lion's share in 2019, contributing to nearly three-fourths of the market. In addition, the segment is anticipated to register the highest CAGR of 6.3% from 2020 to 2027, due to rise in the geriatric population, increase in prevalence of diabetics, cardiac disease, and the adoption of an unhealthy lifestyle.
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By region, North America dominated the market in 2019, contributing to more than two-fifths of the market, due to rise in prevalence of target diseases, the presence of advanced healthcare infrastructure, increase in number of approvals. However, Asia-Pacific is expected to portray the during the forecast period, owing to in prevalence of coronary artery disease, rise in awareness regarding bioabsorbable stents, surge in demand for minimally invasive surgery, and increase in adoption of an unhealthy lifestyle.
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