Absorbable Heart Stent Market Highlights
The absorbable
heart stent market size is expected to reach USD 0.44 Billion by 2032 at 13.2%
CAGR during the forecast period 2023-2032. On the other hand, there are few
hurdles in the growth of this market. One of the biggest players in absorbable
stent market, Abbott Vascular, has stopped manufacturing of its interventional
cardiology product ABSORB GT. The company has terminated sales and operations
related to this product in all the countries across the world due to the
increased heart attack incidences with the use of its product. This major
development may result in thwarting the growth of the market soon. However,
market may regain its growth if the company resolves the issue in time and come
up with better product in the market.
In
2015, according to WHO reports, globally, the prevalence of cardiac disease in
adults aged 18 and above was around 24.1% in men and 20.1% in women largely
from low- and middle-income countries. Increasing unhealthy habits, lack of
physical exercise and increasing prevalence of cardiac diseases contributed
growth to the market. According to American college of cardiology, absorbable
heart stent will replace the conventional metal stents in coming years. This is
due to number of advantages of using absorbable heart stents. Most
bioresorbable stents are made of polylactic acid. It is a naturally dissolvable
material used in medical implants. Demand for absorbable heart stents is
increasing due to advancement in technology of developing heart stents and
increase in number of cardiac surgeries.
Segmentation:
Global absorbable
heart stent market research report has been segmented based on material used
for bio absorbable stents which includes metal and polymer.
The end
users are hospitals, cardiac
canters, research institutes and other users.
Market
Players:
The absorbable
heart stent market players are Abbott Laboratories (U.S.), Biotronik
(Germany), Arterial Remodeling Technologies SA (France), Amaranth Medical Inc.
(U.S.), Kyoto Medical Planning Co. Ltd. (Japan), Elixir Medical Corporation
(U.S.), and Reva Medical Inc. (U.S.).
Regional
Analysis
The Absorbable Heart
Stent Market is segmented into the Americas, Europe, Asia Pacific, and the
Middle East & Africa. The Americas dominates the Absorbable Heart Stent
Market due to high healthcare expenditures, a well-developed healthcare sector,
and increasing prevalence of the coronary artery diseases. Moreover,
the presence of developed economies like the U.S. and Canada facilitates the
market growth during the forecast period.
Europe stands second in the Absorbable
Heart Stent Market Insights is estimated to be followed by Asia Pacific.
Huge patient population, increasing research and development expenses, and
increasing awareness are the major drives the market growth within Europe. Asia
Pacific region is estimated to be the fastest growing for the Global Absorbable
Heart Stent Market. This can be attributed to the presence of developing
economies like India and China, a developing healthcare sector, growing
healthcare industries within the region. However, the Middle East & Africa
is estimated to hold the least market share of the market owing to the presence
poor economies and stringent government policies within the African region.
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