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SOURCE: Global Industry Analysts, Inc.
GIA announces the release of a comprehensive global report on Bioabsorbable Stents markets. The global Bioabsorbable Stents market is forecast to reach 1.1 million units by 2018, driven primarily by the launch of new products, growing base of aging population and increasing adoption of innovative biomaterial based products.
San Jose, CA (PRWEB) March 18, 2013
Follow us on LinkedIn – Bioabsorbable stents, dubbed as the fourth revolution in percutaneous coronary intervention, is one of the most promising fields in interventional cardiology, offering numerous potential benefits over permanent implants for treating coronary artery disease. Bioabsorbable stents extend great advantages as they are bioabsorbed by the body after opening up the artery and providing mechanical support to the vessel for the required period of time, to allow natural restoration of the vessel’s endothelial functionality. These stents eliminate potential complications related to the presence of a permanent metallic stent inside the body. As bioabsorbable stents eliminate the need for a second surgical intervention to remove the metallic stent, the adoption of these stents is forecast to be higher in the coming years.
The global market for bioabsorbable stents is currently in its infancy with very few products reaching the commercialization stage. Europe is considered as the largest market for bioabsorbable stents with a few products including Abbott’s Absorb (coronary stent) and Kyoto Medical’s Remedy (peripheral stent) currently available in the market. Absorb is also available in other parts of the globe. However, as a result of the relatively stringent regulatory policies of the US FDA, there are currently no commercially available bioabsorbable stents in the US, as stated by the new market research report on Bioabsorbable Stents. Key growth drivers include increasing prevalence of coronary artery disease, as well as periphery arterial disease, coupled with the increasing desire to keep fit and healthy in old age. Limitations of existing treatment options is also expected to encourage adoption of bioabsorbable stents. The introduction of bioabsorbable stents in the US in the near term is expected to generate significant growth opportunities. Asia-Pacific is projected to be the fastest growing market with a CAGR of 62% over the analysis period.
The potential market for bioabsorbable stents is huge that currently comprises drug eluting stents and bare metal stents. With more bioabsorbable stents reaching full commercialization, the market for bare metal as well as drug eluting stents, is expected to be significantly taken over by bioabsorbable stents. With the introduction of new products that are currently under development, the penetration of bioabsorbable stents is expected to witness rapid growth in the coming years. However, there are also several technological, regulatory, safety-efficacy, as well as cost issues, which will need to be addressed before the market can reach its full potential.
As the first bioabsorbable drug eluting stent with commercial status in many parts of the world, including the EU, Abbott is expected to lead the market in the near term. However, products that are currently under development are expected to enter the market within 1-4 years, and are forecast to change the market dynamics in the long term. Though there is a clear advantage for the first product, market penetration and future long-term success in the stent market is a factor of technological advantage. Other favourable factors include product efficiency and reimbursement benefits. The market for bioabsorbable stents is dominated by a few players. In addition to these major players with strong resources, the market is also home to numerous R&D stage start-ups and medium sized companies.
Key players in the market include Abbott Laboratories, Amaranth Medical Inc., Arterial Remodeling Technologies SA, BIOTRONIK SE & Co. KG, Elixir Medical Corporation, Kyoto Medical Planning Co. Ltd., and REVA Medical Inc., among others.
The research report titled “Bioabsorbable Stents: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the bioabsorbable stents market, current market trends, future prospects, key growth drivers, issues and concerns, The report also analyzes products under development, new product launches, strategic corporate deals and profiles of major/niche global as well as regional market participants. The report analyzes market data and analytics in terms of US$ for the period 2013 through 2018 for major geographic regions including the US, Europe, Asia-Pacific, and Rest of World.
For more details about this comprehensive market research report, please visit –
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
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