Global Biodegradable Stents Market - 2022-2029

Market Overview

The Global "Biodegradable Stents Market" is expected to grow at a CAGR of 5.2% during the forecasting period (2022-2029).

Biodegradable stents are devices manufactured from polymers or metals, which are used for the treatment/removal of the blockage in arteries or biliary ducts. These stents are used for the treatment of both vascular and nonvascular intervention.

Market Dynamics

The global biodegradable stents market growth is driven by the increasing research and development into novel biodegradable stenting technology by manufacturers, rising prevalence of coronary artery diseases & heart valve disorders, and increasing adoption rate of biodegradable stents.

The increasing number of approved products in the market is driving the market growth

The increasing number of approved products in the market is boosting the growth of the biodegradable stents market. For instance, in February 2019, Biotronik received FDA approval of the Orsiro drug-eluting stent (DES) system. Orsiro is the first and only ultrathin DES to outperform the clinical standard, Xience. In July 2016, The U.S. FDA approved the first fully absorbable stent to treat coronary artery disease. The Absorb GT1 Bioresorbable Vascular Scaffold System (BVS), which releases the drug everolimus to limit the growth of scar tissue, is gradually absorbed by the body in approximately three years. In 2016, Abbott Laboratories received approval for Absorb bioresorbable heart stent in Japan indicating the treatment of coronary artery disease.

According to World Health Organization (WHO), in 2016, approximately 17.9 million people died due to cardiovascular diseases (CVDs) which represent 31% of the total global deaths, and 85% of these deaths were due to heart attack and stroke. In addition, according to the Australian Heart Foundation, cardiovascular disease (CVD) is a major cause of death in Australia, with 43,477 deaths attributed to CVD in Australia in 2017. Hence, the rising prevalence of CVD is also driving the growth of the biodegradable stents market.

The high costs associated with advanced coronary stents will hamper the market growth

However, high costs associated with advanced coronary stents, complex medical policies, and stringent regulations are hampering the growth of the biodegradable stents market.

COVID-19 Impact Analysis

The COVID-19 pandemic continues to endanger global health and hinder the world economy; It has been widely observed that patients with existing cardiovascular diseases experience higher complications due to COVID-19. Specifically, it has been found that patients with hypertension, diabetes, and other comorbidities are at higher risk of death from the virus. During the widespread COVID-19 pandemic, there have been worries about the potential of specific procedures. The Centers for Disease Control and Prevention (CDC) and the European Society of Cardiology (ESC), and its council on hypertension have released position statements saying "we should not be jumping to conclusions and should not be withholding life-saving therapies from patients. Although the number of operations has decreased during the ongoing pandemic. These semi-acute treatments are, however, likely to be cancelled or postponed because of the reallocation of resources, such as anesthesiology teams, ventilators, and operation room capacity. However, analyses of the pooled North American Symptomatic Carotid Endarterectomy Trial and European Carotid Surgery Trial data have shown that the benefit of surgery is considerably reduced when patients are treated more than 2 weeks after the presenting symptoms.

The business complexities arising from the current pandemic have created confusion with respect to the production of the carotid stent. The various multifaceted uncertainties experienced by stent manufacturers. In some cases, COVID causes acute heart failure, myocarditis, shock, and thromboembolism, and the drugs being used to treat the virus can compound cardiac issues by causing arrhythmias. The effective management of cardiac patients in the hospital environment during this COVID-19 pandemic has emerged as a real challenge for the stent market during a pandemic.

Segment Analysis

The polymer-based biodegradable segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)

Polymer-based biodegradable stents are made of materials that can completely dissolve or be absorbed in the body. These are used both in peripheral and coronary artery disease. Most of the bioabsorbable stents are made of polylactic acid which is a naturally dissolvable material. However, the polymer materials, such as polycarbonates, polyesters, corrodible metals, and bacterial-derived polymers are under investigation for developing the next-generation bioabsorbable stents. The risk of the in-stent restenosis using drug-eluting and metallic stents (DES) has raised the need for bioabsorbable stents.

The BAS has a low rate of late-stent thrombosis (LST) and restenosis, which led to the acceptance of BAS for clinical purposes. The product Absorb GT1 Bioresorbable Vascular Scaffold System (BVS) from Abbott was the first absorbable stent for coronary artery disease that received FDA in 2016 and was commercially available in Europe from 2011. However, on September 14, 2017, Abbott announced the end of sales of the Absorb bioresorbable vascular scaffold, due to poor sales and safety concerns, which led to a strong negative impact on the market. However, owing to the increased significance of the same, this sub-segment is expected to register substantial growth in the coming future.​

Geographical Analysis

North America region holds the largest market share of the global biodegradable stents market

North America has the largest share in the biodegradable stents market, and it is expected to continue its stronghold in the forecast period. In North America, the United States holds the largest market share. This can be majorly due to the rising prevalence of hypertension and diabetes in the country, patients suffering from these conditions have a high possibility for cardiovascular diseases. For instance, according to the Center for Disease Control and Prevention (CDC), the three major factors leading to heart disease are high blood pressure, high cholesterol, and smoking, which has a prevalence of 47% of the American population attributed to the disease-prone population. Owing to the rising prevalence of cardiovascular diseases, the demand for technologically advanced treatment options is increasing, hence, leading to the growth of the market in this region.

Competitive Landscape

The Biodegradable Stents Market is a moderately competitive presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Boston Scientific Corporation, Arterius Limited, Elixir Medical Corporation, Kyoto Medical Planning Co. Ltd, Terumo Corporation, Abbott Laboratories Inc., Amaranth Medical, and Biotronik, Meril Life Sciences Pvt. Ltd, Reva Medical among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the biodegradable stents market globally. For instance, in September 2018, Medtronic launched a study in the U.S. and Japan to evaluate dual antiplatelet therapy in high bleeding risk patients implanted with the Resolute Onyx drug-eluting stent during percutaneous coronary intervention.

Boston Scientific Corporation

Overview:

Boston Scientific Corp. engages in the development, manufacture, and marketing of medical devices that are used in interventional medical specialties. It operates through the following segments: Rhythm and Neuro, Cardiovascular, and MedSurg.

Product Portfolio:

SYNERGY: The synergy bioabsorbable polymer stent was intentionally designed to enable short DAPT. The SYNERGY BP Stent was the first FDA-approved drug-eluting stent with alumina bioabsorbable polymer coating available in the U.S. It was designed to address the challenges associated with permanent polymer stents such as inflammation, no atherosclerosis, and late stent thrombosis.

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Visualize the composition of the global biodegradable stents market segmentation by product type, material, end-users, and region highlighting the key commercial assets and players.

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Target Audience

Service Providers/ Buyers

Industry Investors/Investment Bankers

Education & Research Institutes

Research Professionals

Emerging Companies

Manufacturers

Market Segmentation

Global Biodegradable Stents Market- By Product Type

Coronary Artery Stents

Peripheral Artery Stents

Global Biodegradable Stents Market- By Material

Polymer-based stents

Metallic Stents

Others

Global Biodegradable Stents Market- By End-Users

Hospitals

Cardiac Catheterization Laboratories

Ambulatory Surgery Centers

Global Biodegradable Stents Market- By Region

North America

Europe

Asia-Pacific

Middle East & Africa

South America