The demand within the global biodegradable stents market is ascending at an exponential rate in recent times. Presence of an ever-evolving domain of cardiology within healthcare and medicine has facilitated market growth. Biodegradable stents have emerged as viable options for patients who are reluctant towards the use of solid stents. The use of metal meshes to manufacture stents raises several questions in the field of cardiology. Moreover, a large number of medical practitioners are unconvinced about the long-term effectiveness of metallic stents. Therefore, the emergence of biodegradable stents has resolved several problems in the field of cardiology.
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Transparency Market Research (TMR), in a syndicate review, finds that the global biodegradable market would expand at a whopping CAGR of 30.10% over the period between 2016 and 2024. The stellar projection related to market growth can be attributed to increased usage of green and biodegradable materials in the medical industry. Th total volume of revenues within the global biodegradable stents market is set to touch US$1.7 bn by 2024-end, rising up from a value of US$0.18 bn in 2015. The positive progression of sales within this market is a matter of interest for market analysts.
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Rising Incidence of Cardiac Disorders to Aid Market Growth
Changing lifestyles of the masses have played a key role in market growth and maturity. Unhealthy eating habits have caused an increase in the incidence of cardiovascular diseases. Moreover, the laidback lifestyles of the people have also been a cause of increasing cardiovascular diseases. The medical fraternity is making ardent efforts to develop new lines of treatment for cardiovascular diseases. Therefore, there is little contention about the inflow of voluminous revenues into the global biodegradable stents market. Several medical practitioners agree that biodegradable stents can withstand chronic recoil, giving long-term relief to patients. The supremacy of biodegradable stents over metallic stents has played a vital role in market maturity.
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Advancements in Medical Research as a Launchpad to Market Growth
US Cardiology Review (USC) elucidates the importance of biodegradable stents in the current-day medical industry. The rising incidence of coronary artery disease, coupled with advancements and innovations in cardiology, have taken center stage in market growth. Furthermore, USC calls biodegradable stents as the ‘next frontier’ as challenges pertaining to the use of late stent thrombosis multiply. It is expected that the opinions of medical centers and healthcare associations would play a defining role in popularising biodegradable stents. The next decade is expected to witness the emergence of new opportunities for market vendors and distributors. Development of robust sales and distribution channels shall act as a launch pad for market growth.
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Some of the leading vendors operating in the global biodegradable stents market are Abbott Laboratories, Kyoto Medical Planning, Elixir Medical Corporation, Biotronik, Boston Scientific, Inc., and Terumo Europe NV.
The review is based on TMR’s report titled, “Biodegradable Stents Market (Stent Type - Coronary Artery Stent and Peripheral Artery Stents; Material - Polymer Based and Metal Based; End Users - Hospitals, Cardiac Catheterization Laboratories, and Ambulatory Surgery Centers) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024”.
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