A stent is a small mesh tube (net-like material with space in it) used for the treatment of blockades of the arteries in the heart. The stent plays a vital role in the medical field of cardiology. These devices are generally made of metallic or plastic tubes which are fixed into the lumen of an anatomic vessel to keep it open for blood flow. Arteries of the heart consist of blood vessels that carry blood from the heart to other parts of the body. Stents are placed in the artery for the removal of blockades in the heart as a part of surgical procedure called the percutaneous coronary intervention. Stents help to keep the arteries open and reduce the chance of heart attacks. Traditionally, stents are made of metal mesh and remain in the body permanently until they are removed through surgical intervention. But nowadays, bioabsorbable stents, also known as biodegradable stents, are made of materials which get dissolved or absorbed in the body. A bioabsorbable stent has no permanent implant. It gets gradually resorbed and benignly cleared from the body.

On the basis of product type, the bioabsorbable stents market can be classified into polymeric bioabsorbable stents and metallic bioabsorbable stents. The polymeric bioabsorbable stents segment is expected to grow faster than the metallic bioabsorbable stents segment during the forecast period. The polymers are extensively used in cardiovascular devices and act as delivery vehicles for drug coatings. The bioabsorbable polymer helps in late thrombotic events and reduces the need for enlarge dual anti-platelet therapy. Poly-L-lactic acid, polyglycolic acid, and polycaprolactone are some of the polymers used in polymeric bioabsorbable stents. Metallic bioabsorbable stents are generally composed of magnesium and iron. On the basis of application, the market is classified as coronary artery disease and peripheral artery disease. The coronary artery disease segment is anticipated to grow at a high rate as compared to the peripheral artery disease segment. Increasing demand for bioabsorbable stents that can be used in coronary procedures and growing preference for minimally invasive surgical procedures are the factors driving the market growth of the coronary artery disease segment. Increasing obese population and high prevalence of coronary and peripheral artery diseases are the key drivers of the global bioabsorbable stents market. However, stringent regulatory scenario, due to which only a few products have been approved till now, is hindering the growth of this market. In addition, high cost of devices and drawbacks such as local inflammation, recoil after expansion, crossing issues, and difficulty in visualizing a non-metallic stent on fluoroscopy are restricting the growth of the market. Low cost treatment and accurate stent placement can attract patients to adopt bioabsorbable stents for disease management.   

Geographically, North America and Europe dominate the global bioabsorable stents market owing to increased awareness for the treatment of coronary ailments and growing aging population. Moreover, according to Epidemiological projections, approximately 27 million people in North America and Europe suffer from peripheral artery disease. The Asia Pacific market is projected to grow with rising population of extended levels of cholesterol that would be expected to contribute a major increase in the general burden of cardiovascular diseases in this region which helps to grow the bioabsorable stents market. The market in Africa is projected to grow owing to rise in disposable income and development of health care infrastructure along with increase in health care spending.

Key players operating in the global bioabsorbable stents market include Abbott Laboratories, REVA Medical, Elixir Medical Corporation, Biotronik, Meril Life Sciences, Kyoto Medical Planning Co. Ltd, and Arterius Limited.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
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  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Bioabsorbable Stents Market

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