Bioengineered Stents: Introduction
- Stents are small expandable tubes, which are used in treating weakened or narrowed arteries and other lumens in the body. In patients suffering from coronary artery disease (CAD), stents are used for opening narrowed arteries, thereby reducing symptoms, such as chest pain, or for treating a heart attack.
- Bioengineered stent is also called antibody-coated stent. This type of stent is different from Drug Eluting Stent (DES), as it does not contain a polymer and does not use a drug. Thus, it helps for speeding up the cell lining of the artery (endothelialization), which promote natural healing.
Key Drivers and Restraints of Global Bioengineered Stents Market
- There is an increase in prevalence of cardiovascular diseases, such as coronary heart disease and ischemic heart disease. According to the American Heart Association, between 2013 and 2016, 121.5 million U.S. adults had some form of cardiovascular disease. Moreover, between 2014 and 2015, direct and indirect costs of total cardiovascular diseases and stroke were recorded at US$ 351.2 Bn.
- Rise in hospital admissions for cardiovascular disorders, along with enhanced bioengineered technology expansion in the stent industry globally is boosting the global bioengineered stents market
- Percutaneous coronary intervention has revolutionized the coronary artery disease treatment. Consecutive improvements in implantation techniques and stent design and materials in combination with dual antiplatelet therapy have resulted in improved stent safety, thus driving the global bioengineered stents market.
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Key Restraints of Global Bioengineered Stents Market
- Availability of pharmaceutical therapies for cardiovascular disease management is anticipated to hinder the growth of the global bioengineered stents market. For instance, according to the American College of Cardiology (ACC), the number of people undergoing pharmaceutical treatment was anticipated to increase by 13.9 million in the U.S. in 2017.
- High cost of bioengineered stents can hinder market
Strategic Developments and Emerging Economies to Offer Attractive Opportunities
- Companies operating in the global bioengineered stents market are focusing on meeting the needs of medical communities and patient population by developing novel therapies. Several players are also investing in developing advanced bioengineered stents platforms, strengthening market position through acquisitions, mergers, partnerships, etc.
- In July 2018, Terumo Corporation announced that it has entered into an agreement to acquire Essen Technology (Beijing) Co., Ltd., a China-based medical device company. Essen Technology is a specialized enterprise of drug-eluting stents (DES).
- In May 2015, Abbott announced that it had received CE Mark for the latest advancement of its Absorb stent system, called Absorb GT1, which combined the fully dissolving stent with a next-generation delivery catheter to help doctors treat people with heart disease
- Emerging economies provide lucrative opportunities in the global bioengineered stents market, as there is an increase in the number of patient population and initiatives by governments in the health care sector
North America to Hold a Major Share of Global Bioengineered Stents Market
- North America is expected to hold a major share of the global bioengineered stents market due to increase in prevalence of cardiovascular diseases, rise in surgical procedures, and presence of key players in the region
- The bioengineered stents market in Asia Pacific is projected to grow at a rapid pace during the forecast period due to rise in patient population, increase in prevalence of cardiovascular diseases, initiatives by governments in the health care sector, and interest of key players in expanding into the Asia Pacific region. According to the Ministry of Health, Labour and Welfare Japan Patients Survey in 2014, an estimated 1.73 million people in Japan (population: 127 million) suffered from heart disease.
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Key Manufacturers Operating in Global Market
Key players in the global bioengineered stents market are focusing on research and development activities. Companies are adopting various growth strategies, including mergers & acquisitions, product upgrades, product launches and approvals, partnerships, collaborations, etc. Leading players operating in the global bioengineered stents market are:
- Boston Scientific Corporation
- ORBUSNEICH MEDICAL
- B. Braun Melsungen AG
- Terumo Corporation
- MicroPort Scientific Corporation
- STENTYS SA
- Meril Life Sciences Pvt. Ltd.
- Vascular Concept
- W. L. Gore & Associates, Inc.
- Becton Dickinson & Company
- ENDOLOGIX, INC.
Global Bioengineered Stents Market: Research Scope
Global Bioengineered Stents Market, by Application
- Coronary Artery Disease
- Peripheral Arterial Disease
- Carotid Artery Disease
- Renal Artery Stenosis
- Abdominal Aortic Aneurysm
- Thoracic Aortic Aneurysm
Global Bioengineered Stents Market, by Product Type
- Drug-eluting Stents
- Bioabsorbable Stents
- Drug-eluting Balloons
Global Bioengineered Stents Market, by Mode of Delivery
- Balloon-expandable Stents
- Self-expanding Stents
Global Bioengineered Stents Market, by Material Type
Global Bioengineered Stents Market, by End-user
- Ambulatory Surgical Centers
- Specialty Clinics
Global Bioengineered Stents Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- 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
- 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.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
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.
4. Strategic Frameworks
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.