The global biodegradable stent market size was USD 298.0 Million in 2022 and is expected to reach USD 702.67 Million in 2032, and register a revenue CAGR of 10% during the forecast period. Increasing prevalence of cardiovascular disease across the globe and rising demand for minimally invasive operations are major factors driving market revenue growth. Biodegradable stents are constructed from naturally soluble substances such as Polyglycolic Acid (PGA) and Polylactic Acid (PLA) in order to avoid extra surgical operations, which can be safely absorbed by the body.
The increasing prevalence of cardiovascular disorders worldwide stands out as a primary driver for the market's revenue growth. According to the World Health Organization (WHO), cardiovascular disorders, responsible for approximately 31% of global fatalities, are a leading cause of death. Factors contributing to the high incidence of cardiovascular illnesses include sedentary lifestyles, poor dietary habits, and an aging population. Biodegradable stents are gaining preference over traditional metallic stents due to their biocompatibility and ability to reduce risks such as thrombosis and restenosis.
Furthermore, the market is expected to experience revenue growth due to the rising demand for minimally invasive procedures. In comparison to traditional open surgeries, minimally invasive surgeries involve smaller incisions, leading to less post-operative pain, shorter hospital stays, and quicker recovery times. Biodegradable stents are particularly favored in minimally invasive procedures as they can be easily inserted into the body without the need for subsequent surgeries to remove the stent once its purpose is served. This not only reduces the likelihood of complications but also lowers the overall cost of care.
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In addition, government programs to encourage use of biodegradable stents and discourage the use of conventional metallic stents are expected to drive revenue growth of the market. Governments in several countries are putting restrictions into place to lessen the chance of issues related to metallic stents and encourage use of biodegradable stents. For instance, in Europe, biodegradable stents must have the CE mark certification in order to be supplied in the market. The U.S. Food and Drug Administration (FDA) has also given the go-ahead for the use of a number of biodegradable stents, including DESolve and Absorb.
In the pharmaceutical and healthcare sectors, there is rapid change. As cell and gene therapies become increasingly available, patients are finding appropriate treatments for previously incurable diseases. Machine learning and artificial intelligence (AI) technologies are making it possible for more inventive, faster, and cheaper therapy development to take place. By utilizing data-driven projects, manufacturing, the supply chain, and the entire healthcare ecosystem can benefit. It is clear that consumer attitudes and behaviors are shifting, ranging from a greater use of technology and data sharing to a willingness to use tools to make prescriptions and treatment decisions. Pharma and healthcare markets are expected to grow in the next few years as a result of such factors.
Key Players covered in this report are
- Abbott Laboratories
- Biotronik SE & Co. KG
- Boston Scientific Corporation
- Elixir Medical Corporation
- Reva Medical Inc.
- Medtronic Plc.
- Terumo Corporation
- Meril Life Sciences Pvt. Ltd.
- Arterial Remodeling Technologies S.A.
- Amaranth Medical Inc.
Segments Covered in the Report:
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| By Application Outlook |
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| By End-Use Outlook |
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Based on Region market is segmented into:
- North America
- Europe
- Asia-Pacific
- South America
- Middle East & Africa
Major Points covered in this report are as below:
- An analysis of Biodegradable Stent industry development trends and marketing channels, as well as an assessment of the feasibility of new investment projects, is presented in the study.
- In addition to providing key statistics on the industry, the report provides valuable guidance and direction for companies and individuals interested in this market through tables and figures.
- In addition to developing policies and plans, this report analyzes manufacturing processes and cost structures. It also provides information about import/export demand, costs, prices, revenues, and gross margins.
- This report provides information on the market status of Biodegradable Stent manufacturers and provides valuable insight into the market for companies and individuals.
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