The Global Bioabsorbable Stents Market is Forecast to Reach 3.5 Million Units by 2020

Aging Population & Longer Life Expectancy to Drive the Global Bioabsorbable Stents Market, According to a New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on Bioabsorbable Stents. The global Bioabsorbable Stents market is forecast to reach 3.5 million units by 2020, driven by the high prevalence of coronary artery disease among the rapidly aging world population.

Bioabsorbable stents, dubbed as the fourth revolution in percutaneous coronary intervention, is one of the most promising fields in interventional cardiology. Bioabsorbable stents are bioabsorbed by the body after providing the required mechanical support to the vessel and artery for the required period of time, to allow natural restoration of the vessel’s endothelial functionality. These stents eliminate the risk of complications associated with permanent metallic stents. Bioabsorbable stents additionally eliminates the need for a second surgical intervention to remove the metallic stent thus accelerating patient recovery.  Key factors driving growth in the market include high prevalence of coronary artery disease and periphery arterial disease, aging population, and longer life expectancy. Limitations of existing treatment options are also expected to encourage adoption of bioabsorbable stents. Bioabsorbable stents are forecast to cannibalize market opportunities for bare metal stents and drug eluting stents. With the introduction of new products that are currently under development, market penetration of bioabsorbable stents is expected to witness rapid growth in the coming years. However, there several technological, regulatory, safety-efficacy, as well as cost issues, which will need to be addressed before the market can reach its full potential.

The global market is currently in its infancy with very few products reaching the commercialization stage. Europe represents the largest market, with products including Abbott’s Absorb (coronary stent) and Kyoto Medical’s Remedy (peripheral stent) finding widespread adoption among the medical community. Absorb is also available in other parts of the globe. However, as a result of the relatively stringent regulatory scenario of the US FDA, there are currently no commercially available bioabsorbable stents in the United States. The ongoing clinical trial on Absorb III, which commenced in January 2013, is expected to conclude by August 2015, following which the company plans to apply for FDA approval. Abbott also concluded the enrolment of clinical trials in Japan and China to gain approval for Absorb.

As stated by the new market research report on Bioabsorbable Stents, Europe represents the largest regional market worldwide. Asia-Pacific is forecast to emerge as the fastest growing market with a CAGR of 76.0% over the analysis period.

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 trends, growth drivers, restraints, market share, size and demand projections and forecasts. Major geographic regions covered are the US, Europe (France, Germany, Italy, UK and Rest of Europe), Asia-Pacific, and Rest of World. The report also offers coverage on mergers, acquisitions, product launches and other strategic industry activities of major global and regional players.